UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-07589
THE HARTFORD MUTUAL FUNDS, INC.
(Exact name of registrant as specified in charter)
P. O. Box 2999, Hartford, Connecticut 06104-2999
(Address of Principal Executive Offices)
Edward P. Macdonald, Esquire
Life Law Unit
The Hartford Financial Services Group, Inc.
200 Hopmeadow Street
Simsbury, Connecticut 06089
(Name and Address of Agent for Service)
Registrant's telephone number, including area code: (860) 843-9934
Date of fiscal year end: October 31, 2005
Date of reporting period: November 1, 2004 - October 31, 2005
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.
A Message from the President
Dear Fellow Shareholders,
Our national economy reported strong growth in the third quarter of 2005,1
shaking off headwinds from hurricanes Katrina, Rita and Wilma and ever-rising
interest rates, inflation and oil prices.
Indeed, as measured by the S&P 500 Index,2 the market returned 5.27 percent for
the 6-month period ending October 31, 2005.
And I'm proud to report that 40 of our 43 funds with a 6-month performance
history also posted positive returns for the same period.
This is a good example of why diversification remains such a popular investment
strategy. By diversifying your portfolio over a variety of assets, you position
yourself to benefit when any of a number of asset classes comes into favor.
The Hartford Mutual Funds offers a variety of investments--including five asset
allocation funds3 and four new The Hartford Target Retirement Funds--that are
built upon the time-tested principles of diversification.
You'll find more about these funds in this annual report, along with portfolio
manager commentaries that will underscore our commitment to our disciplined,
long-term approach.
Offering an ever greater selection of investments tailored to different
investment objectives is a way for us to show our commitment to meeting changing
investor needs. We are dedicated to meeting your expectations. And we work hard
every day to earn your trust.
Thank you for investing in The Hartford Mutual Funds.
Dave Znamierowski
President, The Hartford Mutual Funds
1 U.S. Bureau of Economic Analysis, 10/05
2 The S&P 500 Index is an unmanaged list of 500 widely held U.S. common
stocks frequently used as a measure of U.S. stock market performance. It does
not represent the performance of a specific fund and is not available for direct
investment.
3 Asset allocation funds do not assure or guarantee better performance and
cannot eliminate the risk of investment loss. Before investing, you should
carefully read the applicable volatility disclosure for each of the Underlying
Funds, which can be found in the current prospectus.
<Table>
Annual Report
October 31, 2005 (ELK PHOTO)
</Table>
- Manager Discussions
- Financials
Please note that the responses to the
questions: How did the Fund perform?,
Why did the Fund perform this way? and
What is your outlook? represent the
views of the portfolio manager(s) of the
applicable fund.
(THE 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 at October 31, 2005:
The Hartford Advisers Fund 96
The Hartford Aggressive Growth Allocation Fund 101
The Hartford Balanced Allocation Fund 102
The Hartford Capital Appreciation Fund 103
The Hartford Capital Appreciation II Fund 106
The Hartford Conservative Allocation Fund 110
The Hartford Disciplined Equity Fund 111
The Hartford Dividend and Growth Fund 113
The Hartford Equity Income Fund 115
The Hartford Floating Rate Fund 116
The Hartford Focus Fund 121
The Hartford Global Communications Fund 122
The Hartford Global Financial Services Fund 124
The Hartford Global Health Fund 126
The Hartford Global Leaders Fund 128
The Hartford Global Technology Fund 130
The Hartford Growth Allocation Fund 132
The Hartford Growth Fund 133
The Hartford Growth Opportunities Fund 134
The Hartford High Yield Fund 136
The Hartford Income Allocation Fund 142
The Hartford Income Fund 143
The Hartford Inflation Plus Fund 152
The Hartford International Capital Appreciation Fund 154
The Hartford International Opportunities Fund 156
The Hartford International Small Company Fund 159
The Hartford MidCap Fund 162
The Hartford MidCap Value Fund 164
The Hartford Money Market Fund 166
The Hartford Retirement Income Fund 167
The Hartford Select MidCap Growth Fund 168
The Hartford Select MidCap Value Fund 171
The Hartford Select SmallCap Growth Fund 173
The Hartford Short Duration Fund 176
The Hartford Small Company Fund 181
The Hartford SmallCap Growth Fund 184
The Hartford Stock Fund 187
The Hartford Target Retirement 2010 Fund 189
The Hartford Target Retirement 2020 Fund 190
The Hartford Target Retirement 2030 Fund 191
The Hartford Tax-Free California Fund 192
The Hartford Tax-Free Minnesota Fund 195
The Hartford Tax-Free National Fund 197
The Hartford Tax-Free New York Fund 202
The Hartford Total Return Bond Fund 204
The Hartford U.S. Government Securities Fund 211
The Hartford Value Fund 213
The Hartford Value Opportunities Fund 215
Statements of Assets and Liabilities at October 31, 2005 218
Statements of Operations for the Period Ended October 31, 2005 230
Statements of Changes in Net Assets for the Periods Ended October 31,
2005 and 2004 242
Statement of Cashflows of The Hartford Floating Rate Fund for the
Period Ended October 31, 2005 264
Notes to Financial Statements 265
Financial Highlights 290
Report of Independent Registered Public Accounting Firm 318
Directors and Officers (Unaudited) 319
Federal Tax Information Notice (Unaudited) 321
Expense Example (Unaudited) 324
Shareholder Meeting Results (Unaudited) 330
Approval of Investment Management and Investment Sub-Advisory
Agreements (Unaudited) 334
Privacy Policy 343
The Hartford Advisers Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT
OBJECTIVE -- SEEKS
MAXIMUM
LONG-TERM
TOTAL
RETURN.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS
GOVERNMENT/CREDIT BOND
ADVISERS FUND S&P 500 INDEX INDEX
------------- ------------- ----------------------
7/22/96 9450 10000 10000
9516 10102 10020
9583 10317 10014
9952 10897 10192
10/96 10188 11198 10430
10773 12043 10622
10543 11805 10504
10923 12542 10517
10971 12641 10539
10705 12122 10413
11123 12845 10565
11589 13630 10664
12031 14236 10792
12750 15368 11122
12156 14507 10997
12667 15301 11170
10/97 12484 14790 11349
12889 15475 11409
13001 15741 11529
13127 15914 11691
13700 17061 11668
14179 17935 11704
14383 18118 11762
14247 17806 11888
14809 18529 12009
14907 18333 12019
13667 15684 12253
14226 16689 12604
10/98 14766 18044 12514
15258 19138 12590
15742 20240 12621
16063 21086 12711
15713 20430 12408
16195 21248 12470
16678 22070 12501
16296 21549 12373
16936 22745 12334
16633 22035 12300
16462 21925 12290
16243 21324 12400
10/99 16771 22674 12432
16953 23134 12425
17643 24495 12349
17074 23265 12346
17157 22825 12500
18317 25058 12681
17964 24304 12619
17692 23805 12608
17998 24391 12865
17840 24010 13001
18525 25501 13185
18034 24155 13235
10/00 18086 24054 13318
17538 22158 13546
17801 22267 13813
18111 23057 14045
17403 20957 14189
16719 19630 14255
17388 21153 14147
17510 21295 14229
17067 20777 14297
17079 20574 14653
16464 19288 14841
15820 17731 14977
10/01 16157 18070 15358
16808 19456 15106
16874 19627 14987
16648 19341 15096
16546 18967 15224
16822 19680 14915
15951 18488 15205
15860 18352 15345
15199 17045 15475
14721 15717 15661
14744 15820 16012
13812 14102 16356
10/02 14475 15342 16199
15126 16244 16208
14645 15290 16638
14381 14891 16638
14289 14668 16934
14314 14810 16912
15028 16029 17093
15638 16872 17621
15760 17088 17551
15818 17389 16815
15980 17728 16926
15925 17540 17419
10/03 16448 18531 17198
16563 18694 17244
17260 19674 17414
17353 20036 17573
17492 20314 17787
17317 20008 17951
17002 19693 17400
17130 19963 17311
17421 20351 17382
16989 19677 17566
17118 19756 17938
17082 19969 18001
10/04 17094 20275 18158
17410 21094 17956
17852 21811 18147
17651 21279 18274
17887 21725 18153
17501 21341 18026
17441 20935 18296
17904 21601 18526
17909 21632 18647
18398 22436 18437
18493 22231 18712
18567 22411 18467
10/05 18341 22038 18309
</Table>
<Table>
--- ADVISERS FUND -- LEHMAN BROTHERS GOVERNMENT/ --- S&P 500 INDEX
$9,450 starting value CREDIT BOND INDEX $10,000 starting value
$18,341 ending value $10,000 starting value $22,038 ending value
$18,309 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ----------------------------------------------------------
Advisers A# 7/22/1996 7.30% 0.28% 7.41%
- ----------------------------------------------------------
Advisers A## 7/22/1996 1.39% -0.85% 6.76%
- ----------------------------------------------------------
Advisers B# 7/22/1996 6.48% -0.44% NA*
- ----------------------------------------------------------
Advisers B## 7/22/1996 1.48% -0.81% NA*
- ----------------------------------------------------------
Advisers C 7/22/1996 6.63% -0.36% 6.69%
- ----------------------------------------------------------
Advisers C## 7/22/1996 5.63% -0.36% 6.69%
- ----------------------------------------------------------
Advisers Y# 7/22/1996 7.78% 0.76% 7.92%
- ----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Classes B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
STEVEN T. IRONS, CFA
Senior Vice President, Partner
SAUL J. PANNELL, CFA
Senior Vice President, Partner
JOHN C. KEOGH
Senior Vice President, Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Advisers Fund Class A, before sales charge, returned 7.30%, for the
12-month period ended October 31, 2005, versus a return of 8.72% for the S&P 500
Index, 0.83% for the Lehman Brothers Government/Credit Bond Index and the Lipper
Balanced Portfolio Funds average of 6.81%.
WHY DID THE FUND PERFORM THIS WAY?
The Fund outperformed because it added value in three areas: the asset
allocation decision to overweight stocks versus bonds, relative performance in
its equity portion, and relative performance in its fixed income portion. The
Fund maintained an equity weighting in the Fund between 67% and 70% during the
period, which helped performance as equities outperformed fixed income. Stock
selection was strong across many industries and, within fixed income, the Fund
made prudent decisions on duration and yield curve positioning.
The Fund had strong stock selection in several sectors, most notably in
Financials, Materials, Industrial Consumer Discretionary, and Information
Technology. Consistent with the Fund's approach of selecting stock from across
the full spectrum of opportunities, the Fund had strong contributions from
stocks in a variety of sectors. Mitsubishi UFJ Financial, the world's largest
bank, benefited from an improving Japanese economy and prospects for reinflation
in Japan. Shares of the biotechnology firm Amgen were up sharply after posting
very strong earnings, driven by sales of Aranesp, which treats anemia in cancer
patients. The company also offered an improved view of the product pipeline
which helped the shares. In Materials, mining company, Rio Tinto, rose sharply
during the period based on the strength of copper, iron ore, and coal prices.
Among the few areas of weakness was an underweight to the strong performing
Utilities sector. The Fund has been underweight Utilities because we believe the
stocks offer limited prospects for growth. Individual stocks that detracted from
relative and absolute results included Fannie Mae (Financials) and Alcoa
(Materials). Fannie Mae declined due to regulatory scrutiny of their accounting
practices and Alcoa shares lagged because the company's profit margins were
negatively affected by energy related cost increases.
Relative performance in fixed income was strong as well. The Fund was
underweight bonds in the 5 to 10 year maturity range
1
- --------------------------------------------------------------------------------
and overweight bonds in the 10 to 30 year range. This was the right positioning
in an environment where the Federal Reserve was raising short term rates and
long term rates were declining, resulting in a "flattening" of the yield curve.
The Fund benefited by not owning any debt issues from Ford or General Motors
when both had their credit ratings downgraded during the period. In addition,
the Fund benefited by holding a position in Treasury Inflation Protected
Securities (TIPS) as inflation concerns rose following the gulf hurricanes.
WHAT IS THE OUTLOOK?
On May 1, 2005, Steven T. Irons and Saul J. Pannell replaced Rand L. Alexander
as managers of the equity portion of the Fund; Mr. Alexander retired from
Wellington Management Company, LLP. Mr. Irons and Mr. Pannell are both
experienced investment professionals who have successful track records with
Hartford Funds. Mr. Irons has been involved with The Hartford Value Fund and The
Hartford Equity Income Fund investment team and Mr. Pannell has been portfolio
manager for The Hartford Capital Appreciation Fund. John C. Keogh will continue
in his role as portfolio manager for the fixed income portion of the fund.
Mr. Irons and Mr. Pannell will continue to manage the stock portion with a large
cap, core approach. They will apply a bottom-up investment process in
constructing a diversified portfolio. They will look for companies that exhibit
some or all of the following characteristics: industry leadership, strong
balance sheets, solid management teams, high return on equity, accelerating
earnings, and/or attractive valuation with a catalyst. The equity managers will
continue to work collaboratively with Mr. Keogh to make decisions regarding
portfolio weights in stocks, bonds, and cash.
At the end of the period the Fund maintained 68% in equities and was overweight
Information Technology and Consumer Discretionary and underweight Consumer
Staples and Utilities.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.3%
- -------------------------------------------------------------------
Capital Goods 4.3
- -------------------------------------------------------------------
Consumer Cyclical 7.8
- -------------------------------------------------------------------
Consumer Staples 5.3
- -------------------------------------------------------------------
Energy 5.8
- -------------------------------------------------------------------
Finance 21.9
- -------------------------------------------------------------------
General Obligations 0.2
- -------------------------------------------------------------------
Health Care 9.3
- -------------------------------------------------------------------
Services 3.9
- -------------------------------------------------------------------
Technology 18.5
- -------------------------------------------------------------------
Transportation 0.9
- -------------------------------------------------------------------
U.S. Government Agencies 1.7
- -------------------------------------------------------------------
U.S. Government Securities 13.4
- -------------------------------------------------------------------
Utilities 0.9
- -------------------------------------------------------------------
Short-Term Investments 16.3
- -------------------------------------------------------------------
Other Assets & Liabilities -14.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
COMPOSITION BY SECTOR
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
SECTOR NET ASSETS
- -------------------------------------------------------------------
Common Stock 67.7%
- -------------------------------------------------------------------
Asset Backed and Commercial Mortgage Securities 3.2
- -------------------------------------------------------------------
Corporate Bonds: Investment Grade 12.0
- -------------------------------------------------------------------
Municipal Bonds 0.2
- -------------------------------------------------------------------
U.S. Government Securities 13.4
- -------------------------------------------------------------------
U.S. Government Agencies 1.7
- -------------------------------------------------------------------
Short-Term Investments 16.3
- -------------------------------------------------------------------
Other Assets & Liabilities -14.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
2
The Hartford Aggressive Growth Allocation Fund
(advised by Hartford Investment Financial Services, LLC)
INVESTMENT
OBJECTIVE -- SEEKS
LONG-TERM
CAPITAL
APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/28/04 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
AGGRESSIVE GROWTH ALLOCATION FUND S&P 500 INDEX
--------------------------------- -------------
5/28/04 9450 10000
6/04 9705 10194
7/04 9318 9857
8/04 9280 9896
9/04 9592 10003
10/04 9809 10156
11/04 10291 10566
12/04 10670 10925
1/05 10357 10659
2/05 10565 10883
3/05 10328 10690
4/05 10072 10487
5/05 10442 10820
6/05 10612 10836
7/05 11029 11239
8/05 11039 11136
9/05 11162 11226
10/05 10849 11039
</Table>
<Table>
--- AGGRESSIVE GROWTH ALLOCATION FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$10,849 ending value $11,039 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ---------------------------------------------------------------------
Aggressive Growth Allocation A# 5/28/2004 10.60% 10.14%
- ---------------------------------------------------------------------
Aggressive Growth Allocation A## 5/28/2004 4.56% 5.88%
- ---------------------------------------------------------------------
Aggressive Growth Allocation B# 5/28/2004 9.88% 9.41%
- ---------------------------------------------------------------------
Aggressive Growth Allocation B## 5/28/2004 4.88% 6.71%
- ---------------------------------------------------------------------
Aggressive Growth Allocation C# 5/28/2004 9.88% 9.41%
- ---------------------------------------------------------------------
Aggressive Growth Allocation C## 5/28/2004 8.88% 9.41%
- ---------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve month period ended October 31, 2005, The Hartford Aggressive
Growth Allocation Fund Class A had a total return, before sales charge, of
10.60%, versus the return of 8.72% for the S&P 500 Index and a return of 13.33%
for the Lipper Global Multi-Cap Core peer average.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the stock market
since investors had to weigh indications of a strong economy versus signs of
rising interest rates and increasing energy and commodity prices. Even though
the Federal Reserve had raised its Federal Funds Target Rate 12 consecutive
times by November 1, 2005, for most of the year stocks, and in particular the
riskier small and mid capitalization issues, had strong gains. Recently,
however, the destruction caused by Hurricanes Katrina and Rita and historically
high energy prices introduced fears of a weakening economy into the financial
markets and exacerbated existing inflation concerns. Accordingly, in the period
after the hurricanes, equities generally declined, with smaller capitalization
issues losing more than large cap stocks.
The Fund is structured around five equity indices. For the twelve month period,
the MSCI EAFE was the top performer (up 18.09%), followed by the S&P Midcap 400
(up 17.65%), the Russell 2000 (up 12.08%), the S&P 500/Barra Value (up 10.17%)
and the S&P 500/Barra Growth (up 7.25%). International, midcap and small cap
stocks are not included in the S&P 500 Index. As such, the Fund's exposure to
those equity styles were beneficial since they each outperformed the large cap
S&P 500 Index by a considerable margin, in addition, the Fund's performance is
affected by the performance of the underlying funds. Top fund performers
included Capital Appreciation, Disciplined Equity, Small Company and SmallCap
Growth. Fund underperformers included International Capital Appreciation and
Global Leaders. It should be noted, however, that in the period after the
hurricanes, the Fund's underweight to large cap stocks detracted from
performance, offsetting a portion of the gains from earlier in the year.
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. It is still too early to tell fully
what effect the storms will have on the economy. However, it is likely that
there will be a near-term slowing followed by a bounce related to rebuilding.
This pattern would represent a fairly typical reaction to natural disasters. For
the remainder of the year, however, we are forecasting higher short-term rates
resulting from further rate increases by the Federal Reserve. Rising interest
rates may be more taxing to smaller firms than larger companies because they
typically have higher borrowing costs. Recently, more international exposure has
been added to some
3
- --------------------------------------------------------------------------------
underlying domestic equity Funds. In response, the allocation to foreign funds
has been marginally reduced. Due to their strong performance, the Capital
Appreciation and Disciplined Equity Funds will also play a greater role in the
portfolio. The allocation to the MidCap Value Fund was modestly reduced for
style reasons. We continue to use cash flows to implement our allocation
changes.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 7.9%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 13.8
- -------------------------------------------------------------------
Hartford Dividend and Growth Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 9.9
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 7.9
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 4.1
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 12.0
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 10.8
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 12.8
- -------------------------------------------------------------------
Other Assets and Liabilities 1.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
4
The Hartford Balanced Allocation Fund
(advised by Hartford Investment Financial Services, LLC)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL
APPRECIATION AND INCOME.
PERFORMANCE OVERVIEW(2) 5/28/04 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
BALANCED ALLOCATION FUND AGGREGATE BOND INDEX S&P 500 INDEX
------------------------ -------------------- -------------
5/28/04 9450 10000 10000
6/04 9582 10057 10194
7/04 9394 10157 9857
8/04 9412 10351 9896
9/04 9606 10379 10003
10/04 9748 10466 10156
11/04 10023 10382 10566
12/04 10292 10477 10925
1/05 10102 10543 10659
2/05 10216 10481 10883
3/05 10051 10428 10690
4/05 9937 10569 10487
5/05 10194 10683 10820
6/05 10313 10741 10836
7/05 10542 10643 11239
8/05 10609 10780 11136
9/05 10676 10669 11226
10/05 10476 10584 11039
</Table>
<Table>
--- BALANCED ALLOCATION FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$10,476 ending value $10,000 starting value $11,039 ending value
$10,584 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from an affiliate of the investment adviser, without
which performance would have been lower. For information on current expense
waivers/reimbursements, please see the prospectus.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------------------
Balanced Allocation A# 5/28/2004 7.47% 7.47%
- ------------------------------------------------------------
Balanced Allocation A## 5/28/2004 1.55% 3.32%
- ------------------------------------------------------------
Balanced Allocation B# 5/28/2004 6.66% 6.67%
- ------------------------------------------------------------
Balanced Allocation B## 5/28/2004 1.66% 3.93%
- ------------------------------------------------------------
Balanced Allocation C# 5/28/2004 6.66% 6.67%
- ------------------------------------------------------------
Balanced Allocation C## 5/28/2004 5.66% 6.67%
- ------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve month period ended October 31, 2005, The Hartford Balanced
Allocation Fund Class A had a total return, before sales charge, of 7.47%,
versus the return of 6.81% for the Lipper Balanced Fund Index and 1.13% for the
Lehman Brothers U.S. Aggregate Bond Index and 8.72% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most. Equities performed solidly during the year,
with small and mid capitalization stocks outperforming large cap stocks through
most of the year, in addition, the Fund's performance is affected by the
performance of the underlying funds. Top fund performers included Capital
Appreciation, Disciplined Equity, Small Company and SmallCap Growth while Fund
underperformers included International Capital Appreciation and Global Leaders.
However, in the period after the hurricanes, equities generally declined, with
large caps losing less than the smaller capitalization issues.
The Fund seeks to achieve long-term capital appreciation and income by investing
in a combination of domestic and foreign equity mutual funds, and fixed income
funds. The Fund's target allocation is typically 60% equity and 40% fixed
income. The fixed income component of the Fund is structured around six fixed
income indices. Over the past twelve months, the Credit Suisse First Boston
(CSFB) Leveraged Loan Index was the top performer (up 5.87%), followed by the
Lehman Brothers High Yield Index (up 4.08%), the Lehman U.S. TIPS Index (up
2.94%), the Merrill Lynch 3-Month U.S. Treasury Bill Index (up 2.76%), the
Lehman Brothers U.S. Aggregate Index (up 1.13%), and finally the
5
- --------------------------------------------------------------------------------
Lehman 1-3 Year Government Index (up 0.80%). Throughout most of the year, the
duration of the Fund's fixed income component was targeted to be less than the
Lehman Aggregate based upon both the risk preferences of the Fund and in
anticipation of rising rates. While short-term interest rose throughout the
year, long-term interests declined or remained stable until recently. As such,
the Fund's lower interest rate sensitivity detracted substantially from
performance as long-term interest rates fell. However, the Fund benefited,
relative to the Index, from its allocation to the Treasury Inflation Protected
Securities (TIPS) and more recently its inclusion of the Floating Rate Fund. The
Fund's benchmark does not have an allocation to TIPS or bank loans. The equity
component of the Fund is structured around five equity indices. For the twelve
month period, the MSCI EAFE was the top performer (up 18.09%), followed by the
S&P Midcap 400 (up 17.65%), the Russell 2000 (up 12.08%), the S&P 500/Barra
Value (up 10.17%) and the S&P 500/Barra Growth (up 7.25%). Although
international, midcap and small cap stocks are not included in the S&P 500
Index, the Fund's exposure to those equity styles were beneficial since they
each outperformed the large cap S&P 500 Index by a considerable margin.
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. In the third
quarter, we introduced the Floating Rate Fund into the portfolio since it was a
source of yield and provides some protection from rising interest rates. The
bank loans in the Floating Rate Fund are also excellent diversifiers when
combined with other fixed income securities. Since the Total Return Bond Fund
and Short Duration Funds have been adding Treasury Inflation-Protected
Securities (TIPS) to their portfolios, we have decreased allocations to the
Inflation Plus Fund to keep the TIPS exposure in balance. Within the equity
component of the portfolio, more international exposure has been added to some
underlying domestic equity Funds. In response, the allocation to foreign funds
has been marginally reduced. Due to their strong performance, the Capital
Appreciation and Disciplined Equity Funds will play a greater role in the
portfolio. We continue to use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 9.7%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 4.8
- -------------------------------------------------------------------
Hartford Dividend and Growth Fund, Class Y 2.2
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 1.4
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 5.8
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 9.9
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 7.8
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 10.4
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 3.2
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 1.8
- -------------------------------------------------------------------
Hartford Stock Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 9.9
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 3.8
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 8.8
- -------------------------------------------------------------------
Other Assets and Liabilities 1.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
6
The Hartford Capital Appreciation Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
CAPITAL APPRECIATION FUND S&P 500 INDEX
------------------------- -------------
7/22/96 9450 10000
9667 10102
10593 10317
11302 10897
10/96 11671 11198
12531 12043
13017 11805
14118 12542
14031 12641
13368 12122
13485 12845
16252 13630
17633 14236
19319 15368
19701 14507
21534 15301
10/97 20367 14790
20395 15475
20189 15741
19713 15914
21570 17061
22309 17935
22432 18118
20940 17806
21265 18529
20376 18333
15926 15684
16600 16689
10/98 18243 18044
19489 19138
20847 20240
22388 21086
21072 20430
22858 21248
24154 22070
25125 21549
26492 22745
26808 22035
25869 21925
25409 21324
10/99 27022 22674
29525 23134
34762 24495
34369 23265
39947 22825
39828 25058
35674 24304
33790 23805
37326 24391
36736 24010
40832 25501
39685 24155
10/00 38312 24054
34607 22158
37677 22267
39802 23057
37453 20957
35708 19630
38735 21153
39273 21295
38606 20777
36845 20574
35243 19288
30813 17731
10/01 31706 18070
33837 19456
35140 19627
33773 19341
32746 18967
34285 19680
32170 18488
31761 18352
29144 17045
26594 15717
27134 15820
25058 14102
10/02 26912 15342
29186 16244
27108 15290
26463 14891
26108 14668
25714 14810
27792 16029
29988 16872
30737 17088
31303 17389
32445 17728
32393 17540
10/03 34839 18531
35616 18694
38063 19674
38653 20036
40006 20314
39966 20008
38559 19693
39334 19963
40899 20351
38916 19677
38297 19756
39599 19969
10/04 40494 20275
43268 21094
44886 21811
43845 21279
45515 21725
43754 21341
42467 20935
43716 21601
44568 21632
46792 22436
47185 22231
48856 22411
10/05 48001 22038
</Table>
<Table>
--- CAPITAL APPRECIATION FUND --- S & P 500 INDEX
$9,450 starting value $10,000 starting value
$48,001 ending value $22,038 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ---------------------------------------------------------
Cap App A# 7/22/1996 18.54% 4.61% 19.14%
- ---------------------------------------------------------
Cap App A## 7/22/1996 12.03% 3.43% 18.41%
- ---------------------------------------------------------
Cap App B# 7/22/1996 17.63% 3.84% NA*
- ---------------------------------------------------------
Cap App B## 7/22/1996 12.63% 3.49% NA*
- ---------------------------------------------------------
Cap App C# 7/22/1996 17.73% 3.93% 18.35%
- ---------------------------------------------------------
Cap App C## 7/22/1996 16.73% 3.93% 18.35%
- ---------------------------------------------------------
Cap App Y# 7/22/1996 19.14% 5.18% 19.74%
- ---------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Class B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) 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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
SAUL J. PANNELL, CFA
Senior Vice President, Partner
FRANK D. CATRICKES, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Capital Appreciation Fund returned 18.54% for the twelve month
period ended October 31, 2005. The Fund outperformed the S&P 500 Index return of
8.72% and the Lipper Multi-Cap Core Funds Average return of 10.50%.
WHY DID THE FUND PERFORM THIS WAY?
The twelve months ended October 31, 2005 were subject to significant volatility.
2004 ended on a positive note as markets rallied during the traditionally strong
fourth quarter. Rising oil prices, the Federal Reserve's ongoing interest rate
increases, and inflation concerns began to take their toll during the first part
of 2005, and investors pushed stocks lower through April. Markets reversed
course over the summer as corporate earnings strength continued despite rising
interest rates and input costs. The fiscal year closed on a weak note, as
markets fell in October. The Fund outperformed its benchmark over each of these
time periods, providing excess returns in both rising and falling markets.
Relative and absolute performance was strong across the board. Fund results
exceeded those of the benchmark in seven of 10 economic sectors, and all sectors
provided positive absolute returns. Performance was particularly positive in
Financials, Energy and Materials stocks. Brazilian stocks Unibanco (Financials)
and CVRD (Materials) each rose over 100% during the year, while positions in
exploration and production firms Devon Energy and XTO Energy boosted results in
the Energy sector. Other top contributors included Korean electronics giant
Samsung, coal and metals producer Teck Cominco, Japanese bank Mitsubishi UFJ,
and Mexican cell phone operator America Movil.
The Fund lagged the benchmark in the Health Care, Industrials, and Utilities
sectors. Within Health Care, Biotechnology firm Elan suffered a steep decline
after pulling its much-heralded multiple sclerosis drug Tysabri from the market
following patient deaths associated with the treatment, and OSI Pharmaceuticals
declined on expense concerns regarding its launch of Tarceva, a drug that treats
non-small cell lung cancer. A position in conglomerate Tyco detracted from
results in the Industrials sector, while relative underperformance in Utilities
was driven by our underweight to this high-performing sector. Other
underperformers during the year were packaging concern Smurfit-Stone and
programmable logic maker Altera. We no longer hold positions in any of these
companies.
7
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
The marked increase in global energy prices in the aftermath of the destructive
US hurricane season will negatively impact economic growth near term. US
consumers are especially hard hit, as they face a noticeable increase in
short-term interest rates as well. Energy prices remain high, but once this
energy shock has been absorbed by the world economy, activity is expected to
strengthen again. We anticipate that emerging countries will lead this upturn.
Inflation is set to accelerate globally, driven by rising energy prices. We
expect that this will fail to feed through to other inflation categories on a
sustained basis given the determined anti-inflationary stance of the Federal
Reserve Bank. We therefore look for a decelerating rate of increase in inflation
over the course of 2006.
We continue to focus our efforts on picking stocks one-at-a-time based on
detailed fundamental research. We recently added to the Fund's Industrial
holdings, and reduced our exposure in the Materials sector. At the end of the
period, our stock-by-stock investment process resulted in greater-than-benchmark
weights in the Materials, Consumer Discretionary and Financials sectors, and
less-than-benchmark weights in Consumer Staples, Health Care, and Utilities.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 11.3%
- -------------------------------------------------------------------
Capital Goods 5.8
- -------------------------------------------------------------------
Consumer Cyclical 5.7
- -------------------------------------------------------------------
Consumer Staples 2.3
- -------------------------------------------------------------------
Energy 6.7
- -------------------------------------------------------------------
Finance 25.1
- -------------------------------------------------------------------
Health Care 6.7
- -------------------------------------------------------------------
Services 5.8
- -------------------------------------------------------------------
Technology 24.3
- -------------------------------------------------------------------
Transportation 1.9
- -------------------------------------------------------------------
Utilities 0.5
- -------------------------------------------------------------------
Short-Term Investments 10.9
- -------------------------------------------------------------------
Other Assets & Liabilities -7.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 0.9%
- -------------------------------------------------------------------
Brazil 2.6
- -------------------------------------------------------------------
Canada 2.2
- -------------------------------------------------------------------
China 0.9
- -------------------------------------------------------------------
France 0.6
- -------------------------------------------------------------------
Germany 0.0
- -------------------------------------------------------------------
Greece 0.4
- -------------------------------------------------------------------
India 0.7
- -------------------------------------------------------------------
Israel 1.2
- -------------------------------------------------------------------
Italy 1.5
- -------------------------------------------------------------------
Japan 5.2
- -------------------------------------------------------------------
Luxembourg 0.9
- -------------------------------------------------------------------
Mexico 0.9
- -------------------------------------------------------------------
South Korea 3.5
- -------------------------------------------------------------------
Switzerland 1.1
- -------------------------------------------------------------------
Taiwan 0.7
- -------------------------------------------------------------------
Turkey 0.2
- -------------------------------------------------------------------
United Kingdom 2.1
- -------------------------------------------------------------------
United States 70.5
- -------------------------------------------------------------------
Short Term Investments 10.9
- -------------------------------------------------------------------
Other Assets & Liabilities -7.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
8
The Hartford Capital Appreciation II Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(2) 4/29/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
CAPITAL APPRECIATION II FUND RUSSELL 3000 INDEX
---------------------------- ------------------
4/30/05 9450 10000
5/05 9809 10379
6/05 10007 10451
7/05 10452 10880
8/05 10517 10776
9/05 10669 10871
10/05 10461 10667
</Table>
<Table>
--- CAPITAL APPRECIATION II FUND --- RUSSELL 3000 INDEX
$9,450 starting value $10,000 starting value
$10,461 ending value $10,667 ending value
</Table>
RUSSELL 3000 INDEX measures the performance of the 3,000 largest U.S. Companies
based on total market capitalization, which represents approximately 98% of the
investable U.S. equity market.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------
Cap App II A# 4/29/2005 10.70%
- ------------------------------------------
Cap App II A## 4/29/2005 4.63%
- ------------------------------------------
Cap App II B# 4/29/2005 10.20%
- ------------------------------------------
Cap App II B## 4/29/2005 5.20%
- ------------------------------------------
Cap App II C# 4/29/2005 10.40%
- ------------------------------------------
Cap App II C## 4/29/2005 9.40%
- ------------------------------------------
Cap App II Y# 4/29/2005 10.80%
- ------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
JAMES H. AVERILL, PHD
Senior Vice President
DAVID R. FASSNACHT, CFA
Senior Vice President
JAMES N. MORDY
Senior Vice President
DAVID W. PALMER, CFA
Vice President
MICHAEL T. CARMEN, CFA
Senior Vice President
FRANK D. CATRICKES, CFA
Vice President
NICHOLAS M. CHOUMENKOVITCH, CFA
Vice President
SAUL J. PANNELL, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Capital Appreciation II Fund was launched April 29, 2005 and
therefore has a performance track record for only six-months of the annual
reporting period ended October 31, 2005. During that time, the Fund's Class A
shares returned 10.7%, before sales charge, for the period ended October 31,
2005. The Fund's return exceeded the 6.7% return of the Russell 3000 Index. The
Fund's current peer group, Lipper Multi-Cap Growth, returned 12.1% during the
period.
WHY DID THE FUND PERFORM THIS WAY?
Superior stock selection within all economic sectors contributed to the Fund's
outperformance relative to the benchmark. Energy, Health Care, Materials,
Financials and Information Technology were the areas of greatest relative
strength. The Fund's top contributors to both absolute and relative performance
were Information Technology holdings Google (Software & Services) and Red Hat
(Software & Services). Global Internet search solutions company, Google,
benefited from its market leading position in the fast-growing search market and
higher-than-expected earnings. Linux software provider Red Hat rose as a
favorable mix of subscription revenue and good expense controls elevated
operating margins.
Within the Health Care sector, Advanced Neuromodulation Systems (Health Care
Equipment & Services) was also a leading contributor to performance. This small
cap company manufactures implantable neuromodulation devices, which are used to
manage disorders of the central nervous system including depression, migraine
headaches and obesity. The stock price advanced as a result of the company's
increased profitability and its upcoming acquisition by St. Jude Medical.
The favorable environment for Energy stocks during the period benefited shares
of exploration and production firm Petro-Canada
9
- --------------------------------------------------------------------------------
(Energy), as well as GlobalSantaFe (Energy) and Noble Corporation (Energy).
Performance relative to the benchmark was negatively impacted by sector
positioning, which is a fallout of the Portfolio Managers' bottom-up investment
process. In particular, an overweight to the Materials sector and an underweight
to the Financials sector detracted from relative performance. In addition,
relative performance was hurt by two of our holdings in the Health Care sector.
Shionogi (Pharmaceuticals & Biotechnology) declined on negative sentiment about
the future success of cholesterol lowering drug, Crestor. Sanofi-Aventis
(Pharmaceuticals & Biotechnology) experienced weakness due to a negative patent
ruling relating to Lovenox.
Other notable detractors from both absolute and relative returns during the
period were Foot Locker (Retailing) and Alcoa (Materials). Concerns about a
weakening global consumer weighed on the share price of Foot Locker, while Alcoa
was negatively impacted by rising costs and lower aluminum prices.
WHAT IS THE OUTLOOK FOR THE REMAINDER OF 2005?
Hartford Capital Appreciation II Fund is a multi-managed Fund with an
opportunistic investment approach. The Fund's managers pursue diverse and
complementary investment strategies, with fundamental, bottom-up research as the
foundation for portfolio construction. The Fund is not designed to exhibit an
intentional style bias, as the investment opportunity set includes stocks of all
market capitalizations, value and growth characteristics and domiciles.
As of the end of the period, Health Care, Materials and Consumer Discretionary
represented the Fund's greatest sector overweights relative to the benchmark.
Financials and Consumer Staples were the greatest underweight allocations. The
Fund's exposure to non-U.S. stocks represented 27% of assets. This positioning
is primarily the result of bottom-up fundamental analysis and a search for
opportunity, rather than from top-down, macro-economic themes.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.8%
- -------------------------------------------------------------------
Capital Goods 3.3
- -------------------------------------------------------------------
Consumer Cyclical 9.2
- -------------------------------------------------------------------
Consumer Staples 4.6
- -------------------------------------------------------------------
Energy 6.1
- -------------------------------------------------------------------
Finance 13.4
- -------------------------------------------------------------------
Health Care 17.0
- -------------------------------------------------------------------
Services 4.4
- -------------------------------------------------------------------
Technology 21.5
- -------------------------------------------------------------------
Transportation 3.3
- -------------------------------------------------------------------
Utilities 1.4
- -------------------------------------------------------------------
Short Term Investments 4.2
- -------------------------------------------------------------------
Other Assets & Liabilities 0.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------- -------------
Australia 0.8%
- -------------------------------------------------------------------
Austria 0.4
- -------------------------------------------------------------------
Bermuda 0.2
- -------------------------------------------------------------------
Brazil 2.3
- -------------------------------------------------------------------
Canada 3.9
- -------------------------------------------------------------------
Finland 0.4
- -------------------------------------------------------------------
France 4.0
- -------------------------------------------------------------------
Germany 0.3
- -------------------------------------------------------------------
Greece 0.1
- -------------------------------------------------------------------
Hong Kong 0.3
- -------------------------------------------------------------------
India 0.1
- -------------------------------------------------------------------
Israel 0.4
- -------------------------------------------------------------------
Italy 0.1
- -------------------------------------------------------------------
Japan 2.8
- -------------------------------------------------------------------
Mexico 0.3
- -------------------------------------------------------------------
Netherlands 0.7
- -------------------------------------------------------------------
Peru 0.1
- -------------------------------------------------------------------
Russia 0.5
- -------------------------------------------------------------------
Singapore 0.1
- -------------------------------------------------------------------
South Africa 0.2
- -------------------------------------------------------------------
South Korea 1.3
- -------------------------------------------------------------------
Spain 0.6
- -------------------------------------------------------------------
Sweden 0.5
- -------------------------------------------------------------------
Switzerland 2.0
- -------------------------------------------------------------------
Taiwan 0.4
- -------------------------------------------------------------------
Turkey 0.1
- -------------------------------------------------------------------
United Kingdom 3.5
- -------------------------------------------------------------------
United States 68.6
- -------------------------------------------------------------------
Short Term Investments 4.2
- -------------------------------------------------------------------
Other Assets & Liabilities 0.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
10
The Hartford Conservative Allocation Fund
(advised by Hartford Investment Financial Services, LLC)
INVESTMENT OBJECTIVE -- SEEKS CURRENT INCOME AND LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/28/04 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
CONSERVATIVE ALLOCATION FUND S&P 500 INDEX AGGREGATE BOND INDEX
---------------------------- ------------- --------------------
5/28/04 9450 10000 10000
6/04 9573 10194 10057
7/04 9431 9857 10157
8/04 9497 9896 10351
9/04 9606 10003 10379
10/04 9729 10156 10466
11/04 9900 10566 10382
12/04 10087 10925 10477
1/05 9982 10659 10543
2/05 10068 10883 10481
3/05 9930 10690 10428
4/05 9872 10487 10569
5/05 10054 10820 10683
6/05 10136 10836 10741
7/05 10271 11239 10643
8/05 10348 11136 10780
9/05 10356 11226 10669
10/05 10211 11039 10584
</Table>
<Table>
--- CONSERVATIVE ALLOCATION -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
FUND BOND INDEX $10,000 starting value
$9,450 starting value $10,000 starting value $11,039 ending value
$10,211 ending value $10,584 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distribution 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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- -----------------------------------------------------------------
Conservative Allocation
A#....................... 05/28/2004 4.96% 5.57%
- -----------------------------------------------------------------
Conservative Allocation
A##...................... 05/28/2004 -0.83% 1.49%
- -----------------------------------------------------------------
Conservative Allocation
B#....................... 05/28/2004 4.26% 4.90%
- -----------------------------------------------------------------
Conservative Allocation
B##...................... 05/28/2004 -0.74% 2.14%
- -----------------------------------------------------------------
Conservative Allocation
C#....................... 05/28/2004 4.26% 4.90%
- -----------------------------------------------------------------
Conservative Allocation
C##...................... 05/28/2004 3.26% 4.90%
- -----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve month period ended October 31, 2005, The Hartford Conservative
Allocation Fund Class A had a total return, before sales charge, of 4.96%,
versus the return of 6.81% for the Lipper Balanced Fund Index and 1.13% for the
Lehman Brothers U.S. Aggregate Bond Index and 8.72% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most. Equities performed solidly during the year,
with small and mid capitalization stocks outperforming large cap stocks through
most of the year, in addition, the Fund's performance is affected by the
performance of the underlying funds. Top fund performers included Capital
Appreciation, Disciplined Equity, and SmallCap Growth. Fund underperformers
included High Yield International Capital Appreciation and Global Leaders.
However, in the period after the hurricanes, equities generally declined, with
large caps losing less than the smaller capitalization issues.
The Fund seeks to achieve current income and long-term capital appreciation by
investing in a combination of fixed income and equity mutual funds. The smaller
equity allocation is intended to add diversification and enhance returns. The
Fund's target allocation is typically 60% fixed income and 40% equity. The fixed
income component of the Fund is structured around six fixed income indices. Over
the past twelve months, the Credit Suisse First Boston (CSFB) Leveraged Loan
Index was the top performer (up 5.87%), followed by the Lehman Brothers High
Yield Index
11
- --------------------------------------------------------------------------------
(up 4.08%), the Lehman U.S. TIPS Index (up 2.94%), the Merrill Lynch 3-Month
U.S. Treasury Bill Index (up 2.76%), the Lehman Brothers U.S. Aggregate Index
(up 1.13%), and finally the Lehman 1-3 Year Government Index (up 0.80%).
Throughout most of the year, the duration of the Fund's fixed income component
was targeted to be less than the Lehman Aggregate based upon both the risk
preferences of the Fund and in anticipation of rising rates. While short-term
interest rose throughout the year, long-term interests declined or remained
stable until recently. As such, the Fund's lower interest rate sensitivity
detracted substantially from performance as long-term interest rates fell.
However, the Fund benefited, relative to the Index, from its allocation to the
Treasury Inflation Protected Securities (TIPS) and more recently its inclusion
of the Floating Rate Fund. The Fund's benchmark does not have an allocation to
TIPS or bank loans. The equity component of the Fund is structured around five
equity indices. For the twelve month period, the MSCI EAFE was the top performer
(up 18.09%), followed by the S&P Midcap 400 (up 17.65%), the Russell 2000 (up
12.08%), the S&P 500/Barra Value (up 10.17%) and the S&P 500/Barra Growth (up
7.25%). Although international, midcap and small cap stocks are not included in
the S&P 500 Index, the Fund's exposure to those equity styles were beneficial
since they each outperformed the large cap S&P 500 Index by a considerable
margin.
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. In the third
quarter, we introduced the Floating Rate Fund into the portfolio since it was a
source of yield and provide some protection from rising interest rates. The bank
loans in the Floating Rate Fund are also excellent diversifiers when combined
with other fixed income securities. Since the Total Return Bond Fund and Short
Duration Funds have been adding Treasury Inflation-Protected Securities (TIPS)
to their portfolios, we have decreased allocations to the Inflation Plus Fund to
keep the TIPS exposure in balance. Within the equity component of the portfolio,
more international exposure has been added to some underlying domestic equity
Funds. In response, the allocation to foreign funds has been marginally reduced.
We continue to use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 8.0%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 1.4
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 7.0
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 14.9
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 3.0
- -------------------------------------------------------------------
Hartford International Small Company, Class Y 2.0
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 3.5
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 16.8
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Stock Fund, Class Y 8.0
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 13.9
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 6.0
- -------------------------------------------------------------------
Other Assets and Liabilities 0.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
12
The Hartford Disciplined Equity Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 4/30/98 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
DISCIPLINED EQUITY FUND S&P 500 INDEX
----------------------- -------------
4/30/98 9450 10000
9242 9828
9591 10227
9591 10119
8269 8656
8829 9211
10/98 9625 9959
10155 10563
10847 11171
11197 11638
10790 11276
11311 11727
11652 12181
11416 11894
12145 12554
11889 12162
11719 12101
11369 11770
10/99 11861 12515
12178 12769
13104 13520
12359 12841
12330 12598
13648 13830
13104 13414
12779 13139
13249 13462
13143 13252
14029 14075
13182 13332
10/00 13124 13276
12074 12230
12254 12291
12855 12727
11813 11568
11171 10836
12073 11676
12173 11754
11922 11469
11663 11356
10971 10646
10059 9787
10/01 10380 9974
11112 10739
11212 10834
10952 10676
10631 10470
11022 10863
10251 10205
10150 10130
9299 9409
8657 8675
8707 8732
7755 7784
10/02 8447 8468
8898 8966
8397 8440
8117 8220
7987 8096
8037 8175
8659 8848
9130 9313
9210 9432
9331 9598
9542 9785
9542 9682
10/03 10103 10229
10253 10319
10780 10860
10941 11059
11061 11213
10891 11044
10740 10870
10731 11019
10971 11233
10530 10861
10520 10905
10630 11022
10/04 10700 11191
11161 11643
11613 12039
11392 11745
11614 11992
11392 11780
11190 11556
11594 11923
11725 11940
12150 12384
12119 12271
12241 12371
10/05 11897 12164
</Table>
<Table>
--- DISCIPLINED EQUITY FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$11,897 ending value $12,164 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------------
Disciplined Eqy A# 4/30/1998 11.19% -1.95% 3.11%
- -----------------------------------------------------------------
Disciplined Eqy A## 4/30/1998 5.08% -3.05% 2.34%
- -----------------------------------------------------------------
Disciplined Eqy B# 4/30/1998 10.35% -2.64% 2.37%
- -----------------------------------------------------------------
Disciplined Eqy B## 4/30/1998 5.35% -3.02% 2.37%
- -----------------------------------------------------------------
Disciplined Eqy C# 4/30/1998 10.29% -2.63% 2.40%
- -----------------------------------------------------------------
Disciplined Eqy C## 4/30/1998 9.29% -2.63% 2.40%
- -----------------------------------------------------------------
Disciplined Eqy Y# 4/30/1998 11.62% -1.44% 3.62%
- -----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
JAMES A. RULLO, CFA
Senior Vice President
MAMMEN CHALLY, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Disciplined Equity Fund returned 11.19% for the twelve-month period
ended October 31, 2005, outperforming both its benchmark, the S&P 500 Index,
which returned 8.72% and the Lipper Large Cap Core Average, which returned
8.35%.
WHY DID THE FUND PERFORM THIS WAY?
US equity indices pushed higher throughout the year, albeit with a large
contribution from the Energy sector. Energy prices continue to dominate the
investment landscape as oil futures reached all-time highs in the wake of
Hurricanes Katrina and Rita. Higher prices at the pump weighed on consumer and
industrial stocks, as investors anticipated weaker retail sales and margin
pressure as input costs rise. The markets continued to trade in a narrow range
with investors focused on the US consumer and the pace of Fed rate hikes.
Strong stock selection boosted the Fund's returns during the twelve-month
period. Top contributing sectors relative to the S&P 500 included Energy, Health
Care and Consumer Staples. Overall, the largest contributors to the Fund were
tobacco and food stock Altria, and Energy companies ConocoPhillips and Valero
Energy. Altria was boosted by positive litigation developments which helped
sentiment, a rise in cigarette prices and an increase in the dividend. The
Energy sector had the strongest absolute and relative performance for the twelve
months ended October 31, 2005, with both the sector overweight and stock
selection adding value. Refiners such as Valero and ConocoPhillips experienced
expanding margins and rapidly rising earnings given the already low inventories
and tight capacity.
Stock selection within the Information Technology sector had a negative impact
on returns. Lagging performance in the sector was driven by mediocre returns
from the larger holdings such as Dell, Intel and IBM. These companies maintain a
dominant market share in their respective industries, although they are
experiencing competitive threats which have dampened sentiment some. Dell's woes
came from a slight loss of market share and more importantly, misexecution of
its pricing strategy. While IBM does have a strong pipeline that should support
continued growth in services, the stock was hurt as it reported disappointing
results for its March quarter. Finally, Intel's stock, despite the company's
solid performance in the second quarter, declined because it could not meet
lofty expectations. While performance has been somewhat disappointing, these
stocks are very attractively priced and remain holdings.
WHAT IS THE OUTLOOK?
Federal Reserve officials have recently focused more on the strength of the US
housing market and the upside risks to inflation. The
13
- --------------------------------------------------------------------------------
combination of higher interest rates, more expensive energy, and selective
tightening in lending standards are likely to lead to slower growth in US
consumption.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.9%
- -------------------------------------------------------------------
Capital Goods 5.9
- -------------------------------------------------------------------
Consumer Cyclical 6.8
- -------------------------------------------------------------------
Consumer Staples 9.4
- -------------------------------------------------------------------
Energy 11.5
- -------------------------------------------------------------------
Finance 21.0
- -------------------------------------------------------------------
Health Care 13.4
- -------------------------------------------------------------------
Services 5.9
- -------------------------------------------------------------------
Technology 21.6
- -------------------------------------------------------------------
Utilities 1.7
- -------------------------------------------------------------------
Other Assets & Liabilities -0.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
14
The Hartford Dividend and Growth Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS A HIGH LEVEL OF CURRENT
INCOME CONSISTENT WITH GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
DIVIDEND AND GROWTH FUND S&P 500 INDEX
------------------------ -------------
7/22/96 9450 10000
9545 10102
9695 10317
10149 10897
10/96 10423 11198
10990 12043
10894 11805
11409 12542
11589 12641
11142 12122
11504 12845
12246 13630
12906 14236
13652 15368
13002 14507
13768 15301
10/97 13356 14790
13988 15475
14270 15741
14454 15914
15066 17061
15858 17935
15771 18118
15509 17806
15671 18529
15553 18333
13565 15684
14415 16689
10/98 15434 18044
15895 19138
16335 20240
16179 21086
15933 20430
16325 21248
17330 22070
16887 21549
17456 22745
16913 22035
16478 21925
16041 21324
10/99 16962 22674
16867 23134
17083 24495
16393 23265
15470 22825
17173 25058
16960 24304
17317 23805
16774 24391
16774 24010
17725 25501
17893 24155
10/00 18242 24054
17883 22158
18800 22267
18509 23057
18337 20957
17746 19630
18653 21153
18967 21295
18479 20777
18597 20574
18002 19288
16830 17731
10/01 16841 18070
17748 19456
17938 19627
17983 19341
18258 18967
18744 19680
17970 18488
18135 18352
17185 17045
15855 15717
15744 15820
14034 14102
10/02 15065 15342
16075 16244
15392 15290
14870 14891
14559 14668
14528 14810
15586 16029
16577 16872
16717 17088
16874 17389
17242 17728
17035 17540
10/03 17840 18531
18165 18694
19342 19674
19398 20036
19746 20314
19497 20008
19306 19693
19317 19963
19808 20351
19358 19677
19527 19756
19863 19969
10/04 20077 20275
20932 21094
21665 21811
21128 21279
21884 21725
21446 21341
20987 20935
21355 21601
21453 21632
22202 22436
22202 22231
22592 22411
10/05 22062 22038
</Table>
<Table>
--- DIVIDEND AND GROWTH FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$22,062 ending value $22,038 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Div & Growth A# 7/22/1996 9.87% 3.88% 9.57%
- --------------------------------------------------------------
Div & Growth A## 7/22/1996 3.81% 2.71% 8.90%
- --------------------------------------------------------------
Div & Growth B# 7/22/1996 8.92% 3.08% NA*
- --------------------------------------------------------------
Div & Growth B## 7/22/1996 3.92% 2.72% NA*
- --------------------------------------------------------------
Div & Growth C# 7/22/1996 9.08% 3.18% 8.82%
- --------------------------------------------------------------
Div & Growth C## 7/22/1996 8.08% 3.18% 8.82%
- --------------------------------------------------------------
Div & Growth Y# 7/22/1996 10.36% 4.40% 10.11%
- --------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Classes B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
EDWARD P. BOUSA, CFA
Vice President, Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Dividend and Growth Fund Class A, before sales charge, returned
9.87% for the twelve-month period ended October 31, 2005. The Fund slightly
underperformed the Lipper Equity Income Average, which returned 10.15%, but
outperformed its benchmark, the S&P 500 Index, which returned 8.72% over the
same period.
WHY DID THE FUND PERFORM THIS WAY?
Over the last twelve months, the equity markets posted higher returns despite
higher energy prices, interest rate tightening by the Federal Reserve and
escalating tensions in Iraq. During this period, small and mid cap stocks
continued to outperform larger cap stocks. Additionally, value-oriented stocks
dominated growth-oriented stocks. During this period, the top performing sectors
within the broad market, represented by the S&P 500, were Energy (+33.68%),
Utilities (+23.86%), Consumer Staples (+10.45%), Health Care (+9.56%) and
Financials (+9.03%).
The Fund's out performance relative to the S&P 500 was attributable to a
combination of positive stock selection and sector allocation within the
Utilities and Information Technology. Additionally, the Fund's overweight
position in Energy and underweight position in Consumer Discretionary, despite
weak stock selection, was additive to performance.
Within Consumer Discretionary, Whirlpool, a global leader in appliances
benefited from strong pricing power. Despite cost pressures, it posted strong
quarterly results. Cellular handset manufacturer, Motorola posted strong third
quarter revenue and earnings per share results and performed well on the
strength in sales of their new products. The top three contributors to
performance, on an absolute basis, during the period were Encana (Energy),
Altria (Consumer Staples) and Exelon (Utilities). Energy stocks continued to
benefit from the rise in energy prices. Encana's stock price is benefiting from
persistently high natural gas prices which are due to supply/demand imbalances.
Altria's stock benefited from their favorable court ruling in a high profile
case. The company's strong free cash flow, management's more conservative stance
towards uses of cash and their leading market share have led us to maintain our
position. Utility company Exelon benefited from high electricity prices on its
regulated nuclear and coal-generated power.
Top detractors, on an absolute basis, include: Verizon Communications, Alcoa and
International Paper. During the period, Verizon continued to face increasing
wireline competition. We held the stock on the belief that the MCI acquisition,
which is expected to close in January 2006, and their aggressive deployment of
fiber to consumer homes will be additive to their margins. Materials stock Alcoa
struggled along with the remainder of the aluminum industry due to higher power
and energy-related costs. The
15
- --------------------------------------------------------------------------------
company's management team is in negotiations with customers to increase pricing
on their aluminum sheet contracts and we believe the company is well-positioned
to benefit from these trends in 2006 and held the position. International Paper
fell as weak demand has overwhelmed an improving supply scenario within the
Paper/Forest products industry. The company reported third quarter earnings that
exceeded Wall Street's expectations, but earnings were down versus last year.
The company is restructuring and reducing debt. We held the position at the end
of the period.
WHAT IS THE OUTLOOK?
The Fund takes a long-term view. Our discipline focuses primarily on the
supply/demand balance in most sectors. We maintain our overweight positions in
Energy and Materials, as we are seeing improving fundamentals slowly play out
and we believe that higher energy and commodity prices are sustainable. It
appears there are fewer buying opportunities in pharmaceuticals because few
companies have impressive research and development pipelines. We are underweight
in retail on the basis of slowing consumer demand against a backdrop of excess
supply in stores.
Going forward, we are a bit more cautious on the US economy. In this
environment, we believe that our strategy of buying high quality companies with
above-average dividends will continue to be successful versus the S&P 500 Index.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 8.1%
- -------------------------------------------------------------------
Capital Goods 6.5
- -------------------------------------------------------------------
Consumer Cyclical 4.0
- -------------------------------------------------------------------
Consumer Staples 7.9
- -------------------------------------------------------------------
Energy 16.5
- -------------------------------------------------------------------
Finance 17.2
- -------------------------------------------------------------------
Health Care 8.2
- -------------------------------------------------------------------
Services 4.2
- -------------------------------------------------------------------
Technology 15.4
- -------------------------------------------------------------------
Transportation 3.5
- -------------------------------------------------------------------
Utilities 5.1
- -------------------------------------------------------------------
Short-Term Investments 6.6
- -------------------------------------------------------------------
Other Assets & Liabilities -3.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
16
The Hartford Equity Income Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS A HIGH LEVEL OF CURRENT INCOME CONSISTENT WITH
GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(2) 8/28/03 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
EQUITY INCOME FUND RUSSELL 1000 VALUE INDEX
------------------ ------------------------
8/28/03 9450 10000
9403 9902
10/03 9800 10508
9944 10651
10612 11307
10545 11506
10735 11753
10621 11649
4/04 10430 11365
10468 11481
10631 11752
10420 11586
10640 11751
10761 11933
10/04 10857 12131
11285 12745
11620 13172
11455 12937
11902 13365
11605 13182
4/05 11566 12946
11615 13258
11676 13403
12009 13791
11980 13731
12172 13924
10/05 11915 13570
</Table>
<Table>
--- EQUITY INCOME FUND --- RUSSELL 1000 VALUE INDEX
$9,450 starting value $10,000 starting value
$11,915 ending value $13,570 ending value
</Table>
RUSSELL 1000 VALUE INDEX measures the performance of those Russell 1000 Index
companies with lower price-to-book ratios and lower forecasted growth values.
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.
PORTFOLIO MANAGER
JOHN R. RYAN, CFA
Senior Vice President, Managing Partner
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------------
Equity Income A# 8/28/2003 9.74% 11.23%
- ------------------------------------------------------
Equity Income A## 8/28/2003 3.67% 8.39%
- ------------------------------------------------------
Equity Income B# 8/28/2003 8.84% 10.35%
- ------------------------------------------------------
Equity Income B## 8/28/2003 3.84% 9.12%
- ------------------------------------------------------
Equity Income C# 8/28/2003 9.00% 10.51%
- ------------------------------------------------------
Equity Income C## 8/28/2003 8.00% 10.51%
- ------------------------------------------------------
Equity Income Y# 8/28/2003 10.22% 11.88%
- ------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the 12-month period ended October 31, 2005, The Hartford Equity Income Fund
Class A, before sales charge, returned 9.74%, trailing the Russell 1000 Value
Index return of 11.86%, and the Lipper Equity Income peer group average return
of 10.15%.
WHY DID THE FUND PERFORM THIS WAY?
Despite decelerating economic growth, concerns about rising inflation and
interest rates, and stubbornly high oil prices, the equity markets posted higher
returns during the period. Value-oriented stocks outperformed growth-oriented
stocks by 3.05%, measured by the Russell 1000 Value Index 11.86% versus the
Russell 1000 Growth Index 8.81%.
The more defensive sectors of the Russell 1000 Value index posted positive
gains, with Energy, Consumer Staples and Utilities leading the way. Another
major factor affecting the markets was a continued strong market cap bias toward
smaller cap stocks. The S&P 500 large cap benchmark returned 8.72%, compared to
the S&P 400 MidCap benchmark's return of 17.65% and the Russell 2000 small cap
benchmark return of 12.08%.
The Fund's underperformance relative to the benchmark during this period was
primarily due to unfavorable stock selection and our allocation within
Financials, Materials and Energy. While the investment strategy is primarily
bottom-up driven, the Fund's overweight allocation to Health Care and Consumer
Staples was additive, however this was offset by weak stock selection in these
sectors. The three largest detractors, on an absolute basis, were Alcoa
(Materials), Pfizer (Health Care) and National City (Financials).
Alcoa continues to face cost pressures but we believe that there is a tremendous
amount of leverage in their downstream operations. Pfizer was weak due to patent
challenges over Lipitor, a cholesterol-lowering drug, which accounts for 30% of
the company's earnings. National City's mortgage banking business has been
volatile in the current rising rate environment. However, its core regional
banking business continues to perform well. We owned all three stocks at the end
of the period.
The Fund benefited from positive stock selection and allocation within
Industrials, Utilities, Telecommunication Services and Information Technology.
At the margin, the Fund's allocation in Consumer Discretionary was additive to
performance despite weak stock selection within the sector. The top three
contributors, on an absolute basis, were Caterpillar (Industrials),
ConocoPhillips (Energy) and Altria (Consumer Staples). As of the end of the
period, all three stocks were held in the Fund.
WHAT IS THE OUTLOOK?
We expect continued economic expansion, but we are preparing for a deceleration
from recent growth rates. We anticipate 3%+ global and US GDP growth over the
next couple of years. We continue to see core inflation returning to the 2%
range as the deflationary pressures of globalization no longer are offset by
rising
17
- --------------------------------------------------------------------------------
energy prices. Shorter-term interest rates should move higher as the Fed
continues to tighten, and as a result, we expect the yield curve to invert. The
American consumer is facing many headwinds including slowing payroll employment
growth and high energy costs. Consumer confidence, while high, is waning. We
expect mortgage refinancing activity will subside and tax refunds to be down.
On the corporate side, most of the news is positive. Corporate profit growth
should remain in the mid-single-digit range, decelerating somewhat as consumer
spending inevitably slows. Balance sheets rarely have been better. Cash levels
are rising despite a pickup in capital spending. Debt repayments continue, while
dividend increases and stock repurchases persist. Deferred infrastructure
spending in the West and new infrastructure spending in the developing world
should bolster business expenditures for several years. On the other hand,
corporations face headwinds from high energy and other commodity prices.
In this environment, we continue to find opportunities in several areas,
particularly those dependent on capital spending. Corporate balance sheets are
flush with liquidity, and the ratio of capital spending to cash flow is well
below average. We added exposure to cyclical companies that we expect will
benefit from continued economic expansion, but whose stocks sell at relatively
attractive valuations. At the end of the period, relative to the Russell 1000
Value Index, the Fund was overweight Materials, Utilities, Health Care,
Financials, Consumer Staples and Telecommunication Services.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 9.4%
- -------------------------------------------------------------------
Capital Goods 6.1
- -------------------------------------------------------------------
Consumer Staples 10.6
- -------------------------------------------------------------------
Energy 12.4
- -------------------------------------------------------------------
Finance 31.1
- -------------------------------------------------------------------
Health Care 7.6
- -------------------------------------------------------------------
Services 0.9
- -------------------------------------------------------------------
Technology 8.3
- -------------------------------------------------------------------
Utilities 12.4
- -------------------------------------------------------------------
Short-Term Investments 2.7
- -------------------------------------------------------------------
Other Assets & Liabilities -1.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
18
The Hartford Floating Rate Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS A HIGH LEVEL OF CURRENT INCOME.
PERFORMANCE OVERVIEW(2) 4/29/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
FLOATING RATE FUND CSFB LEVERAGED LOAN INDEX
------------------ -------------------------
4/30/05 9700 10000
5/05 9681 10008
6/05 9799 10075
7/05 9869 10154
8/05 9960 10225
9/05 9984 10273
10/05 9997 10306
</Table>
<Table>
--- FLOATING RATE FUND --- CSFB LEVERAGED LOAN INDEX
$9,700 starting value $10,000 starting value
$9,997 ending value $10,306 ending value
</Table>
CSFB LEVERAGED LOAN INDEX is designed to mirror the investable universe of the
$U.S.-denominated leveraged loan market.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ---------------------------------------------
Floating Rate
A#............. 4/29/2005 3.06%
- ---------------------------------------------
Floating Rate
A##............ 4/29/2005 -0.03%
- ---------------------------------------------
Floating Rate
B#............. 4/29/2005 2.66%
- ---------------------------------------------
Floating Rate
B##............ 4/29/2005 -2.34%
- ---------------------------------------------
Floating Rate
C#............. 4/29/2005 2.67%
- ---------------------------------------------
Floating Rate
C##............ 4/29/2005 1.67%
- ---------------------------------------------
Floating Rate
Y#............. 4/29/2005 3.10%
- ---------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
MICHAEL BACEVICH
Managing Director
JOHN CONNOR
Vice President, Credit Research Analyst
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Floating Rate Fund Class A had a total return, before sales charges
and net of expenses, of 3.06% for the period April 29, 2005 through October 31,
2005 versus the return of 2.55% for the Lipper Loan Participation Fund Index and
3.21% for the CSFB Leveraged Loan Index. As of October 31, 2005, the SEC yield
for this Fund's Class A shares was 4.60%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the fixed income
market because short-term interest rates rose throughout the year. In contrast,
for much of the year, long-term rates declined due to strong demand from
overseas and low inflation expectations. The result was a much flatter yield
curve. As the economy showed strength during the year, the Federal Reserve (the
Fed) continued to raise the Federal Funds Target Rate. By November 1, 2005, the
Federal Reserve had raised the Federal Funds Target Rate twelve consecutive
times since June of 2004. During the short six-month life of the Floating Rate
Fund, the markets became more uncertain after hurricanes Katrina and Rita
grabbed headlines and the attention of the public. While their impact was
devastating to the residents of the Gulf Coast, economists and investors are
still assessing the magnitude of the hurricanes' effect upon the national and
global economies. Damage to major oil refineries was immediately felt as already
historically high oil prices soared to even higher levels within days of
Katrina. Accordingly, many economists and investors believed that higher fuel
prices and demand for reconstruction materials would lead to rising inflation.
Others, however, were concerned that the hurricanes' destruction and the
displacement of millions residents would slow economic growth. In this
environment, interest rates generally rose during the third quarter of 2005. In
this environment, floating rate bank loans performed strongly since their reset
feature makes them less sensitive to rising interest rates. Also, because loans
typically have a senior position in the corporate debt structure, these
collateralized assets were viewed as being more secure than unsecured debenture
loans.
WHY DID THE FUND PERFORM THIS WAY?
Since the Fund's recent inception April 29, 2005, the Fund has performed
solidly. During this time, one of the key objectives has been to construct a
well diversified portfolio. The Fund's industry breakdown is now comparable to
the CSFB index. The Fund's solid performance is primarily attributable to:
- - a higher average spread over LIBOR for the bank loan portfolio versus
benchmark;
- - solid credit selection, which has resulted in zero defaults and trading
losses;
- - significant unrealized gains, particularly for our new issues; and
- - staying almost fully invested in bank loans and other attractive floating and
fixed rate assets.
19
- --------------------------------------------------------------------------------
Since inception, no individual purchase has made a material contribution to
total return. Rather, most of the loans purchased for the portfolio are trading
around their purchase price, with numerous modest unrealized gains summing to a
substantial overall "book" gain on our loan positions. These trading levels,
when combined with the higher than average current yield of the portfolio, have
contributed to the Fund's strong total return.
WHAT IS THE OUTLOOK?
In September there were significant concerns about the negative economic impact
of the recent hurricanes. However, subsequent data has indicated that the storms
might have a more muted effect on the macro economy. This encouraging news and
increasingly hawkish Fed comments led to a major upward repricing in the front
end of the yield curve (short maturity bonds). Fed Funds Futures, as well as
commercial paper offerings, now reflect an increase in the Fed Funds Target Rate
in December with a high probability of more tightenings in early 2006. These
factors indicate that LIBOR, the rate used to determine the yield for most
floating rate bank loans, will also continue to rise. Accordingly, we anticipate
that Fund's yields will continue to rise. The new issue (primary) market
continues to be our preferred source for loans, but the secondary loan market,
while priced aggressively, continues to be our best resource for staying nearly
fully invested. As the Fund continues to mature, we will also continue to seek
further diversification.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 14.6%
- -------------------------------------------------------------------
Capital Goods 2.0
- -------------------------------------------------------------------
Consumer Cyclical 12.6
- -------------------------------------------------------------------
Consumer Staples 4.6
- -------------------------------------------------------------------
Energy 3.1
- -------------------------------------------------------------------
Finance 8.8
- -------------------------------------------------------------------
Health Care 6.4
- -------------------------------------------------------------------
Services 18.4
- -------------------------------------------------------------------
Technology 12.3
- -------------------------------------------------------------------
Transportation 3.9
- -------------------------------------------------------------------
Utilities 8.3
- -------------------------------------------------------------------
Short-Term Investments 8.8
- -------------------------------------------------------------------
Other Assets & Liabilities -3.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
20
The Hartford Focus Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/24/01 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
FOCUS FUND S&P 500 INDEX
---------- -------------
5/24/01 9450 10000
9441 9715
9186 9479
8996 9386
8770 8798
8014 8088
10/01 8335 8242
9129 8874
9526 8952
9176 8822
9072 8651
9299 8977
8439 8433
8221 8371
7513 7775
7125 7169
7087 7216
6274 6432
10/02 6917 6998
7626 7409
7106 6974
6926 6792
6718 6690
6737 6755
7228 7311
7663 7696
7719 7794
8040 7931
8106 8086
7917 8000
10/03 8446 8452
8512 8527
9031 8974
9088 9139
9107 9266
8890 9126
8701 8983
8806 9106
9061 9282
8854 8975
8825 9011
8787 9108
10/04 8636 9248
8995 9621
9245 9948
9028 9706
9217 9909
8886 9734
8848 9549
9207 9853
9188 9867
9660 10234
9641 10140
9782 10222
10/05 9697 10052
</Table>
<Table>
--- FOCUS FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$9,697 ending value $10,052 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------
Focus A# 5/24/2001 12.31% 0.59%
- ----------------------------------------------
Focus A## 5/24/2001 6.15% -0.68%
- ----------------------------------------------
Focus B# 5/24/2001 11.44% -0.14%
- ----------------------------------------------
Focus B## 5/24/2001 6.44% -0.59%
- ----------------------------------------------
Focus C# 5/24/2001 11.44% -0.14%
- ----------------------------------------------
Focus C## 5/24/2001 10.44% -0.14%
- ----------------------------------------------
Focus Y# 5/24/2001 12.86% 1.05%
- ----------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
STEVEN T. IRONS, CFA
Senior Vice President, Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Focus Fund Class A returned 12.31%, before sales charge, for the
12-month period ended October 31, 2005, outperforming the S&P 500 Index return
of 8.72% and the Lipper Large Cap Core Fund peer group average return of 8.35%.
WHY DID THE FUND PERFORM THIS WAY?
The Fund outperformed during the period due to strong stock selection across
several sectors including Financials, Information Technology, Energy,
Industrials, and Consumer Staples. Consistent with the fund's approach of
searching for stocks across the full spectrum of opportunities, the Fund had
strong performance from stocks in a variety of sectors. Energy companies
Occidental Petroleum and ConocoPhillips rose in the environment of sustained
high oil prices. Mitsubishi UFJ Financial, the world's largest bank, benefited
from an improving Japanese economy and prospects for reinflation in Japan.
Shares of the biotechnology firm Amgen rose sharply after posting very strong
earnings, driven by sales of Aranesp, which treats anemia in cancer patients.
The company also offered an improved view of the product pipeline which helped
the shares.
Sector positioning in Utilities and Consumer Discretionary was among the few
areas of weakness during the period. The Fund was underweight Utilities because
we believe the stocks offer limited growth prospects, but the sector performed
well during the year. The fund was overweight Consumer Discretionary stocks,
which lagged due to fears that energy costs and higher interest rates would
suppress consumer spending. In terms of individual stocks that detracted from
results, International Game Technology, a leading manufacturer of slot machines,
declined due to competitive pressures and slowing demand. Alcoa shares were also
down because the company's profit margins were negatively affected by energy
related cost increases.
WHAT IS THE OUTLOOK?
On May 1, 2005, Steven T. Irons became portfolio manager of The Hartford Focus
Fund, replacing Rand L. Alexander who retired from Wellington Management. Mr.
Irons has 20 years of investment experience, including 12 years with Wellington
Management. He will continue to manage the portfolio in a concentrated, large
cap core approach. Consistent with how the fund has been managed, he will draw
from the universe of the 80 to 120 stocks in The Hartford Stock Fund and select
the 20 to 40 stocks where he has the highest conviction. These stocks will
21
- --------------------------------------------------------------------------------
exhibit some or all of the following characteristics: leadership within an
industry, a strong balance sheet, solid management teams, high return on equity,
accelerating earnings, and/or attractive valuation with a catalyst. At end of
the period, the Fund's bottom-up investment approach resulted in overweights in
Consumer Discretionary and Information Technology and underweights in Consumer
Staples and Industrials.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.2%
- -------------------------------------------------------------------
Capital Goods 5.2
- -------------------------------------------------------------------
Consumer Cyclical 11.5
- -------------------------------------------------------------------
Consumer Staples 5.8
- -------------------------------------------------------------------
Energy 7.5
- -------------------------------------------------------------------
Finance 20.9
- -------------------------------------------------------------------
Health Care 12.9
- -------------------------------------------------------------------
Services 6.8
- -------------------------------------------------------------------
Technology 26.5
- -------------------------------------------------------------------
Short-Term Investments 1.1
- -------------------------------------------------------------------
Other Assets & Liabilities -0.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
22
The Hartford Global Communications Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 10/31/00 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
MSCI AC WORLD FREE
GLOBAL COMMUNICATIONS TELECOMMUNICATIONS SERVICES
FUND INDEX S&P 500 INDEX
--------------------- --------------------------- -------------
10/31/00 9450 10000 10000
7314 8625 9212
7399 8405 9257
8883 9231 9586
7068 7800 8713
5982 7362 8161
6492 7922 8794
5963 7313 8853
5689 6831 8638
5585 6911 8553
4791 6173 8019
4564 6248 7372
10/01 4319 6020 7513
4565 6306 8089
4697 6343 8160
4101 5776 8041
3601 5513 7886
3733 5585 8182
3317 4977 7686
3326 5009 7630
2882 4489 7087
2731 4254 6534
2882 4250 6577
2504 3594 5863
10/02 3061 4411 6378
3392 4883 6753
3241 4595 6357
3156 4494 6191
3137 4261 6098
3080 4208 6157
3383 4513 6664
3666 5055 7015
3864 5098 7104
3874 4978 7229
3987 4964 7370
4063 4994 7292
10/03 4412 5234 7704
4564 5413 7772
5017 5855 8179
5159 6052 8330
5159 6096 8446
5159 5968 8318
4960 5868 8187
4904 5717 8300
5083 5824 8461
4922 5792 8181
4667 5848 8213
4790 6000 8302
10/04 5178 6285 8429
5962 6751 8770
6193 7015 9068
5954 6718 8847
6183 6828 9032
5792 6657 8872
5612 6537 8704
5783 6520 8981
6203 6586 8993
6774 6883 9328
6746 6871 9243
7003 6918 9317
10/05 6784 6733 9162
</Table>
<Table>
--- GLOBAL COMMUNICATIONS FUND --- MSCI AC WORLD TELECOMMUNICATIONS
$9,450 starting value SERVICES INDEX
$6,784 ending value $10,000 starting value
$6,733 ending value
-- S & P 500 INDEX
$10,000 starting value
$9,162 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
MSCI AC (ALL COUNTRY) WORLD TELECOMMUNICATIONS SERVICES INDEX is a free
float-adjusted market capitalization index which measures the performance of
companies within the telecommunications sector across both developed and
emerging market countries. The index is calculated to exclude companies and
share classes which cannot be freely purchased by foreigners.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Global Comm A# 10/31/2000 31.01% -6.41% -6.41%
- --------------------------------------------------------------
Global Comm A## 10/31/2000 23.78% -7.46% -7.46%
- --------------------------------------------------------------
Global Comm B# 10/31/2000 29.92% -7.05% -7.05%
- --------------------------------------------------------------
Global Comm B## 10/31/2000 24.92% -7.43% -7.43%
- --------------------------------------------------------------
Global Comm C# 10/31/2000 29.97% -7.08% -7.08%
- --------------------------------------------------------------
Global Comm C## 10/31/2000 28.97% -7.08% -7.08%
- --------------------------------------------------------------
Global Comm Y# 10/31/2000 31.36% -5.96% -5.96%
- --------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT TEAM
ARCHANA BASI, CFA
Vice President, Global Industry Analyst
DAVID NINCIC, CFA
Vice President, Global Industry Analyst
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Communications Fund Class A, before sales charge, returned
31.01% for the twelve-month period ended October 31, 2005. The Fund strongly
outperformed the MSCI All Country World Free Telecommunication Services Index,
which returned 7.13%, and the Lipper Telecommunications Mutual Funds Average,
which returned 14.34% over the same period.
WHY DID THE FUND PERFORM THIS WAY?
Although returns for the Telecommunications sector were mixed during the
twelve-month period, the MSCI All Country World Free Telecommunication Services
Index ended in positive territory.
The Fund's outperformance over the twelve-month period relative to the MSCI AC
World Free Telecommunication Services Index was a result of strong security
selection, primarily among Diversified Telecommunications Services, a sub-sector
that accounted for approximately two-thirds of the Fund. Stock selection within
the Wireless Telecommunications Service sub-sector also boosted relative
performance.
The stocks that contributed most to relative performance were Dobson
Communications, KongZhong, and Telkom South Africa. All posted strong returns
during the period and were not held in the benchmark. Dobson Communications
benefited from increases in service revenues as well as customer usage.
KongZhong also reported strong revenues, and expects to see more growth in the
fourth quarter. Telkom South Africa benefited from positive results, including
strong wireless growth, and remains committed to returning value to its
shareholders.
Within the Diversified Telecommunication Services sub-sector we favored
international companies over US companies given the difficult competition the US
companies face from cable and wireless companies. The Fund avoided poor
performers such as Verizon and SBC during the period, which contributed
positively to relative performance.
23
- --------------------------------------------------------------------------------
Conversely, the Fund did not hold strong performers America Movil and China
Mobile, which were the largest detractors of relative performance.
WHAT IS THE OUTLOOK?
We have become increasingly optimistic about the US wireless industry. Airtime
capacity utilization in the US is constrained, supporting pricing for wireless
carriers. At the same time, carriers are adding net subscribers more cheaply
than they have in the past, and are experiencing lower churn rates, resulting in
less acquisition costs and higher profitability.
Outside of the US we continue to find attractive opportunities, particularly
within Europe and Emerging Markets. European companies continue to be
shareholder-oriented, willing to return cash in the form of dividends and share
buybacks. Within Emerging Markets, penetration of telecommunication services is
low, which we believe will allow for healthy growth for years to come. We are
bearish on investing in Korea and Japan as new competition is emerging in their
wireless markets.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ----------------------------------------------------------------------
Austria 2.4%
- ----------------------------------------------------------------------
Brazil 11.2
- ----------------------------------------------------------------------
Cayman Islands 6.9
- ----------------------------------------------------------------------
China 3.2
- ----------------------------------------------------------------------
France 4.5
- ----------------------------------------------------------------------
Germany 2.2
- ----------------------------------------------------------------------
Indonesia 3.6
- ----------------------------------------------------------------------
Italy 1.4
- ----------------------------------------------------------------------
Luxembourg 1.4
- ----------------------------------------------------------------------
Mexico 3.7
- ----------------------------------------------------------------------
Morocco 0.0
- ----------------------------------------------------------------------
Norway 3.1
- ----------------------------------------------------------------------
Philippines 4.8
- ----------------------------------------------------------------------
South Africa 7.4
- ----------------------------------------------------------------------
South Korea 0.1
- ----------------------------------------------------------------------
Spain 3.4
- ----------------------------------------------------------------------
Taiwan 0.5
- ----------------------------------------------------------------------
Turkey 3.7
- ----------------------------------------------------------------------
United Kingdom 6.9
- ----------------------------------------------------------------------
United States 27.2
- ----------------------------------------------------------------------
Short Term Investments 16.1
- ----------------------------------------------------------------------
Other Assets & Liabilities -13.7
- ----------------------------------------------------------------------
TOTAL 100.0%
- ----------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Audio and Video Equipment Manufacturing 0.1%
- -------------------------------------------------------------------
Communications Equipment Manufacturing 2.5
- -------------------------------------------------------------------
Entertainment -- Cable & Other Subscription
Programming 0.2
- -------------------------------------------------------------------
Internet Publishing and Broadcasting 0.4
- -------------------------------------------------------------------
Other Information Services 0.1
- -------------------------------------------------------------------
Other Telecommunications 49.0
- -------------------------------------------------------------------
Software Publishers 6.9
- -------------------------------------------------------------------
Telecommunication Resellers 0.5
- -------------------------------------------------------------------
Wired Telecommunications Carriers 4.8
- -------------------------------------------------------------------
Wireless Communications Services 11.7
- -------------------------------------------------------------------
Wireless Telecommunications Carriers 21.4
- -------------------------------------------------------------------
Short Term Investments 16.1
- -------------------------------------------------------------------
Other Assets & Liabilities -13.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
24
The Hartford Global Financial Services Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 10/31/00 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GLOBAL FINANCIAL SERVICES MSCI FINANCE EX REAL ESTATE
FUND INDEX S&P 500 INDEX
------------------------- --------------------------- -------------
10/31/00 9450 10000 10000
9091 9618 9212
10036 10358 9257
9857 10361 9586
9630 9685 8713
9290 9114 8161
9715 9501 8794
9941 9447 8853
9989 9364 8638
9885 9166 8553
9715 9066 8019
8836 8104 7372
10/01 8854 8117 7513
9100 8533 8089
9384 8630 8160
8949 8330 8041
8921 8183 7886
9402 8772 8182
9430 8799 7686
9298 8912 7630
8987 8423 7087
8079 7630 6534
8070 7728 6577
7134 6668 5863
10/02 7588 7314 6378
8004 7672 6753
7566 7225 6357
7205 6988 6191
7025 6841 6098
6987 6711 6157
7718 7651 6664
8098 8089 7015
8184 8199 7104
8458 8560 7229
8430 8496 7370
8581 8700 7292
10/03 9217 9399 7704
9255 9459 7772
9830 10035 8179
10022 10290 8330
10280 10526 8446
10242 10482 8318
9802 10091 8187
9830 10180 8300
9925 10289 8461
9476 9974 8181
9715 10199 8213
9782 10293 8302
10/04 9992 10580 8429
10433 11154 8770
10950 11720 9068
10679 11407 8847
10766 11600 9032
10475 11288 8872
10398 11061 8704
10524 11203 8981
10736 11390 8993
10959 11680 9328
10881 11697 9243
11191 12073 9317
10/05 11230 12150 9162
</Table>
<Table>
--- GLOBAL FINANCIAL SERVICES FUND --- MSCI FINANCE EX REAL ESTATE INDEX
$9,450 starting value $10,000 starting value
$11,230 ending value $12,150 ending value
-- S&P 500 INDEX
$10,000 starting value
$9,162 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
MSCI FINANCE 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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 SINCE
DATE YEAR YEAR INCEPTION
- ----------------------------------------------------------------
Global Fin Ser A# 10/31/2000 12.39% 3.52% 3.52%
- ----------------------------------------------------------------
Global Fin Ser A## 10/31/2000 6.18% 2.36% 2.36%
- ----------------------------------------------------------------
Global Fin Ser B# 10/31/2000 11.58% 2.79% 2.79%
- ----------------------------------------------------------------
Global Fin Ser B## 10/31/2000 6.58% 2.43% 2.43%
- ----------------------------------------------------------------
Global Fin Ser C# 10/31/2000 11.58% 2.79% 2.79%
- ----------------------------------------------------------------
Global Fin Ser C## 10/31/2000 10.58% 2.79% 2.79%
- ----------------------------------------------------------------
Global Fin Ser Y# 10/31/2000 12.91% 4.01% 4.01%
- ----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT TEAM
MARK T. LYNCH, CFA
Senior Vice President, Partner,
Global Industry Analyst
THEODORE SHASTA, CFA
Senior Vice President, Partner,
Global Industry Analyst
JENNIFER L. NETTESHEIM, CFA
Vice President, Global Industry Analyst
R. ANDREW HEISKELL
Vice President, Global Industry Analyst
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Financial Services Fund Class A, before sales charge
returned 12.39% for the twelve-month period ended October 31, 2005. The Fund
underperformed its benchmark, the MSCI Finance ex-Real Estate Index, which
returned 14.83%, and outperformed the Lipper Financial Services Mutual Funds
Average, which returned 8.95% over the same period.
WHY DID THE FUND PERFORM THIS WAY?
The Finance sector outperformed the broad market, as represented by the S&P 500
Index, during the twelve-month period. Almost all industries within the Finance
sector posted positive returns, led by Capital Markets and Insurance, while
Thrifts & Mortgage Finance companies declined. The strong absolute performance
of the Fund was primarily driven by the performance of Commercial Banks, Capital
Markets and Insurance holdings. The largest absolute contributors to performance
were Ace Limited, St. Paul Travelers and Mitsubishi UFJ Financial. Shares of
Mitsubishi UFJ performed well as synergies of the merger between Mitsubishi and
UFJ were recognized. In addition, an overweight to the strong performing Capital
Markets industry was beneficial to relative performance. Top performers within
this industry during the period were UBS and Franklin Resources.
While the Fund's overweight position in the Insurance industry contributed
positively to relative returns, stock selection within the industry was a
leading detractor from relative performance. Our position in Ambac Financial was
the leading detractor as a result of extremely competitive market conditions
combined with a shortfall in the company's mortgage backed security business
earlier in the year. MBIA, another insurer, was a drag on performance after
receiving a Wells Notice from the SEC alleging violations of federal securities
laws.
The Fund's overweight allocation to Thrifts & Mortgage Finance companies, the
weakest area of the Finance market, also detracted
25
- --------------------------------------------------------------------------------
from relative performance. In particular, Golden West Financial's performance
negatively impacted the Fund.
WHAT IS THE OUTLOOK?
Following the devastation of the hurricane season, we believe the insurance
industry will be taking a new and harsher look at catastrophic exposure,
providing less capacity at higher prices and abandoning what may come to be
viewed as uninsurable risks. Furthermore, we believe the life insurance industry
is a relatively safe haven within the sector particularly as people remain
nervous about the consumer and housing markets.
Although we are concerned about growing signs of distress on the UK consumer
which could have negative implications for UK banks, we are bullish on non-US
banks based on the themes of emerging markets growth, reflation and
consolidation.
Among brokerage firms, we believe pricing pressure will persist and there is
more industry consolidation to come. Meanwhile, business continues to be
extremely strong for the investment banks, driven by mergers & acquisition
activity, equity underwriting and equity trading.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 4.5%
- -------------------------------------------------------------------
Canada 2.4
- -------------------------------------------------------------------
China 1.0
- -------------------------------------------------------------------
Germany 2.1
- -------------------------------------------------------------------
Italy 3.5
- -------------------------------------------------------------------
Japan 5.7
- -------------------------------------------------------------------
Singapore 0.7
- -------------------------------------------------------------------
Spain 4.1
- -------------------------------------------------------------------
Sweden 1.4
- -------------------------------------------------------------------
Switzerland 7.7
- -------------------------------------------------------------------
United Kingdom 4.8
- -------------------------------------------------------------------
United States 57.6
- -------------------------------------------------------------------
Short Term Investments 13.9
- -------------------------------------------------------------------
Other Assets & Liabilities -9.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Agencies, Brokerages, Other Insur Activities 5.0%
- -------------------------------------------------------------------
Commercial Banking 20.8
- -------------------------------------------------------------------
Consumer Lending 1.9
- -------------------------------------------------------------------
Depository Credit -- Banking 20.6
- -------------------------------------------------------------------
Insurance Carriers 25.3
- -------------------------------------------------------------------
International Trade Financing (Foreign Banks) 4.1
- -------------------------------------------------------------------
Monetary Authorities -- Central Bank 8.2
- -------------------------------------------------------------------
Nondepository Credit Banking 1.7
- -------------------------------------------------------------------
Other Financial Investment Activities 3.9
- -------------------------------------------------------------------
Real Estate -- Activities Related to Real Estate 0.0
- -------------------------------------------------------------------
Real Estate Credit (Mortgage Banking) 1.9
- -------------------------------------------------------------------
Securities, Commodities and Brokerage 2.1
- -------------------------------------------------------------------
Short Term Investments 13.9
- -------------------------------------------------------------------
Other Assets & Liabilities -9.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
26
The Hartford Global Health Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/1/00 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GOLDMAN SACHS HEALTH CARE
GLOBAL HEALTH FUND S&P 500 INDEX INDEX
------------------ ------------- -------------------------
5/01/00 9450 10000 10000
9620 9795 10391
11323 10036 11522
11503 9879 11132
12118 10493 11534
12923 9939 12043
10/00 13112 9897 12333
13463 9117 12507
13965 9162 12959
13168 9487 11763
13128 8623 11708
12321 8077 10664
12980 8704 11130
13590 8762 11375
13678 8549 11088
13599 8465 11392
13392 7936 11100
12958 7296 11014
10/01 13264 7435 11029
13987 8006 11619
14168 8076 11399
13765 7958 11094
13816 7804 11038
14188 8098 11176
13705 7607 10478
13283 7551 10274
12077 7014 9297
11756 6467 9093
11524 6509 9158
10831 5803 8669
10/02 11485 6313 9072
12273 6684 9325
11674 6292 9002
11499 6127 9007
11117 6035 8852
11230 6094 9121
12211 6595 9541
13409 6942 9986
13718 7031 10414
13770 7155 10455
13637 7295 10226
13946 7217 10241
10/03 14246 7625 10342
14594 7692 10529
15309 8095 11091
15880 8244 11417
15983 8359 11573
15807 8233 11239
15953 8103 11639
15870 8214 11624
16067 8374 11622
15205 8096 10895
15361 8129 11029
15526 8217 11000
10/04 15558 8342 10743
16065 8679 11018
17123 8975 11786
16490 8756 11428
16327 8939 11732
15912 8781 11742
16381 8614 12207
16611 8888 12432
16850 8901 12487
17701 9232 12919
18279 9148 12976
18574 9222 12891
10/05 17996 9068 12631
</Table>
<Table>
--- GLOBAL HEALTH FUND -- GOLDMAN SACHS HEALTH CARE INDEX
$9,450 starting value $10,000 starting value
$17,996 ending value $12,631 ending value
--- S & P 500 INDEX
$10,000 starting value
$9,068 ending value
</Table>
S & P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 SINCE
DATE YEAR YEAR INCEPTION
- --------------------------------------------------------------
Global Health A# 5/1/2000 15.67% 6.53% 12.42%
- --------------------------------------------------------------
Global Health A## 5/1/2000 9.33% 5.33% 11.27%
- --------------------------------------------------------------
Global Health B# 5/1/2000 14.86% 5.77% 11.61%
- --------------------------------------------------------------
Global Health B## 5/1/2000 9.86% 5.44% 11.50%
- --------------------------------------------------------------
Global Health C# 5/1/2000 14.78% 5.76% 11.60%
- --------------------------------------------------------------
Global Health C## 5/1/2000 13.78% 5.76% 11.60%
- --------------------------------------------------------------
Global Health Y# 5/1/2000 16.19% 7.15% 13.06%
- --------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Class B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT TEAM
JOSEPH H. SCHWARTZ, CFA
Senior Vice President, Partner,
Global Industry Analyst
JEAN M. HYNES, CFA
Senior Vice President, Partner,
Global Industry Analyst
ANN C. GALLO
Senior Vice President, Partner,
Global Industry Analyst
KIRK J. MAYER, CFA
Vice President, Global Industry Analyst
ROBERT L. DERESIEWICZ
Vice President, Global Industry Analyst
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Health Fund Class A, before sales charge, returned 15.67%
for the twelve-month period ended October 31, 2005. The Fund underperformed the
Goldman Sachs Health Care Index, which returned 17.57%, and outperformed the
Lipper Health and Biotechnology Mutual Fund Average, which returned 15.03% over
the period.
WHY DID THE FUND PERFORM THIS WAY?
The Health Care sector outperformed the broader market, as represented by the
S&P 500, for the period. The Fund's overweight position in Pharmaceutical stocks
relative to its benchmark was a primary driver of the Fund's underperformance.
The Fund's holdings of several specific pharmaceutical stocks were the primary
detractors from performance. Elan shares fell sharply on news that it would pull
its promising new multiple sclerosis drug Tysabri from the market. AtheroGenics
shares suffered on news of the company requiring additional financing and delays
in filing for FDA approval of its drug for patients with coronary artery
disease. Shionogi, a Japanese pharmaceutical company, also detracted from
returns. All three stocks were held in the Fund at the end of the period.
However, the Fund did not hold poorly performing pharmaceutical giants Pfizer,
Merck and Bristol-Myers Squibb which provided a positive relative boost to
performance.
The Health Care Providers & Services sub-sector continued its strong trend and
was the largest contributor to the Fund's positive absolute returns. Despite our
underweight allocation to this strong-performing sub-sector, security selection
provided a boost to relative performance for the period. HMO stocks PacifiCare
Health Systems and Aetna Inc. were among the top contributors as both
experienced stabilization in cost trends and an increase in
27
- --------------------------------------------------------------------------------
premium prices. Drug distributor McKesson was also a top contributor to the Fund
due to strength in its healthcare information technology business.
WHAT IS THE OUTLOOK?
During the past year, health care stocks have experienced a variety of
challenges including Medicare changes and patent litigations and expirations.
Across all sub-sectors in the Fund, we continuously seek to identify stocks
where we can legitimately have a comparatively optimistic, non-consensus view.
The business fundamentals of the contract research organizations are strong due
to continuing late stage clinical trials and an acceleration in safety trials as
a result of recent FDA headlines. This strength also reflects robust early drug
pipelines for the which are not yet reflected in the value of these stocks. We
expect to see a new innovation cycle in pharmaceuticals beginning in 2008.
We are less optimistic on the hospital stocks within the Health Care Services
sub-sector as these stocks will be negatively impacted by the increasing
penetration of consumer-driven health care and fairly sizable increases in
hospital deductibles. Our differentiated view is that this will result in lower
admissions growth and higher bad debt expenses as opposed to the continued
improvement that many in the market are expecting. For the managed care stocks,
we expect to see volatility as data regarding the plan specifics of the Medicare
Drug Benefit (which starts January 2006) are released and assimilated. Once
implemented, we expect the Drug Benefit to be a positive factor for the
participant companies for the next 1-3 years as enrollment drives growth.
Among medical device companies, the strongest product demand is for ICD's
(implantable cardioverter defibrillators) which should continue to favor the
cardiac devices arena for several years. Business conditions are also currently
strong for orthopedics devices, but we believe deterioration has already begun
in this category. Orthopedics is the only area in medical technology where the
introduction of a new device brings premium pricing power. Therefore, we believe
that the pricing flexibility orthopedics are now experiencing is an outlier
which will dissipate in an increasingly constrained reimbursement environment.
Presently, we see few stocks in this sub-sector with attractive valuations.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Belgium 1.7%
- -------------------------------------------------------------------
France 2.7
- -------------------------------------------------------------------
Germany 2.0
- -------------------------------------------------------------------
Ireland 1.0
- -------------------------------------------------------------------
Japan 14.1
- -------------------------------------------------------------------
Switzerland 1.3
- -------------------------------------------------------------------
United Kingdom 4.9
- -------------------------------------------------------------------
United States 70.4
- -------------------------------------------------------------------
Short Term Investments 16.4
- -------------------------------------------------------------------
Other Assets & Liabilities -14.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
As of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Chemical Manufacturing 1.2%
- -------------------------------------------------------------------
Drugs & Druggists Sundries Wholesalers 6.4
- -------------------------------------------------------------------
Electrical Equip Manufacturing 1.1
- -------------------------------------------------------------------
Electromedical Manufacturing 4.9
- -------------------------------------------------------------------
General Medical and Surgical Hospitals 0.6
- -------------------------------------------------------------------
Health and Personal Care Stores 0.5
- -------------------------------------------------------------------
Insurance Carriers 7.4
- -------------------------------------------------------------------
Medical Equipment & Supplies Manufacturing 5.2
- -------------------------------------------------------------------
Navigate, Measure, Control Instrument Manufacturing 0.3
- -------------------------------------------------------------------
Outpatient Care Centers 1.4
- -------------------------------------------------------------------
Pharmaceutical & Medicine Manufacturing 57.5
- -------------------------------------------------------------------
Scientific Research & Development Services 11.6
- -------------------------------------------------------------------
Short Term Investments 16.4
- -------------------------------------------------------------------
Other Assets & Liabilities -14.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
28
The Hartford Global Leaders Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(2) 9/30/98 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GLOBAL LEADERS FUND MSCI WORLD INDEX
------------------- ----------------
9/30/98 9450 10000
10/98 10697 10906
11482 11556
12320 12122
12932 12389
12572 12061
13176 12565
13478 13062
13011 12587
13878 13176
14072 13138
13995 13117
13800 12991
10/99 14697 13668
15775 14054
18196 15194
17481 14325
19461 14367
19393 15361
18472 14713
17962 14342
18766 14827
18135 14411
19149 14883
18341 14092
10/00 17287 13858
16263 13019
16870 13231
16870 13488
15319 12349
14265 11540
15370 12397
15052 12243
14764 11861
14395 11704
13598 11145
12412 10164
10/01 12781 10360
13876 10975
13945 11045
13487 10711
13387 10620
13815 11092
13347 10720
13616 10745
12760 10095
11674 9245
11555 9264
10201 8247
10/02 11167 8857
12153 9337
11087 8886
10838 8617
10578 8470
10429 8447
11595 9201
12292 9732
12581 9904
12891 10108
13249 10328
12890 10393
10/03 13906 11011
14234 11182
14951 11886
15528 12080
16066 12287
16355 12210
15727 11967
15936 12075
16475 12337
15180 11937
15090 11995
15857 12225
10/04 16424 12527
17331 13191
17690 13699
17023 13393
16624 13823
16026 13562
15816 13275
16194 13521
16343 13644
16900 14123
17228 14236
17328 14610
10/05 16730 14259
</Table>
<Table>
--- GLOBAL LEADERS FUND --- MSCI WORLD INDEX
$9,450 starting value $10,000 starting value
$16,730 ending value $14,259 ending value
</Table>
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEARS INCEPTION
- -----------------------------------------------------------------
Global Leaders A# 9/30/1998 1.88% -0.65% 8.40%
- -----------------------------------------------------------------
Global Leaders A## 9/30/1998 -3.72% -1.76% 7.54%
- -----------------------------------------------------------------
Global Leaders B# 9/30/1998 1.02% -1.40% 7.59%
- -----------------------------------------------------------------
Global Leaders B## 9/30/1998 -3.98% -1.79% 7.59%
- -----------------------------------------------------------------
Global Leaders C# 9/30/1998 1.07% -1.31% 7.67%
- -----------------------------------------------------------------
Global Leaders C## 9/30/1998 0.07% -1.31% 7.67%
- -----------------------------------------------------------------
Global Leaders Y# 9/30/1998 2.34% -0.08% 8.98%
- -----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
ANDREW S. OFFIT
Senior Vice President, Partner
JEAN-MARC BERTEAUX
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Leaders Fund Class A returned 1.88%, before sales charge,
for the twelve-month period ended October 31, 2005. The Fund underperformed the
MSCI World Index benchmark return of 13.82% and the Lipper Global Large Cap
Growth Funds average return of 12.32%.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's underperformance during the annual period was a result of
disappointing returns for several stocks and an underweight to the surging
Energy and Materials sectors. Health Care was the area of greatest
underperformance, as the sharp decline in the stock price of Elan Corporation
(Pharmaceuticals) cost the Fund more than three percentage points. Elan's major
drug, Tysabri, an FDA-approved drug for multiple sclerosis, was withdrawn from
the market due to a patient death in a follow-on clinical trial. The patient
death and withdrawal of the drug were both tragic and totally unexpected. True
to our process, as soon as Tysabri was withdrawn we sold the position in Elan.
Stock selection in Industrials, Consumer Discretionary and Information
Technology sectors also detracted from performance relative to the benchmark.
Research In Motion (Technology Hardware & Equipment), EMI Group (Media) and
Alcatel (Technology Hardware & Equipment) were among the leading detractors from
performance. Research in Motion, the maker of the popular Blackberry devices,
came under pressure due to an ongoing patent litigation case with technology
firm, NTP.
Stock selection relative to the benchmark was strongest within Consumer Staples
due to our position in Japan Tobacco (Food, Beverage & Tobacco). On both an
absolute and relative basis, the leading contributors to performance were
Corning (Technology Hardware & Equipment), Apple Computer (Technology Hardware &
Equipment), Google (Technology Software & Services) and Mitsubishi UFJ
(Financials).
While our investment process is bottom-up, the Fund's sector allocations
detracted from relative performance. Overweight allocations to traditional
growth sectors such as Consumer Discretionary and Information Technology had a
negative impact, as those areas underperformed. Energy, Materials and Utilities
sectors, where we were underweight relative to the benchmark, were the best
performing areas of the market. As managers of a growth-oriented approach,
however, those sectors are not traditionally areas of focus for us.
WHAT IS THE OUTLOOK?
As usual, the Fund is positioned for growth. The Fund's overweight in Consumer
Discretionary, Health Care and Information
29
- --------------------------------------------------------------------------------
Technology sectors, some of the strongest areas of growth, are a result of our
bottom-up research and stock analysis. Despite the Fund's challenging relative
performance during the annual period, our process has not wavered. Our focus
remains on stock and sector selections that result from intense bottom-up
research, diligently meeting with the management of leading global companies,
and leveraging the strong research capabilities of our firm. We have strong
conviction in our holdings and process and are optimistic about the Fund's
positioning.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Brazil 1.0%
- -------------------------------------------------------------------
Canada 3.7
- -------------------------------------------------------------------
Finland 1.5
- -------------------------------------------------------------------
France 3.6
- -------------------------------------------------------------------
Germany 7.9
- -------------------------------------------------------------------
Hong Kong 0.5
- -------------------------------------------------------------------
Ireland 0.7
- -------------------------------------------------------------------
Israel 1.2
- -------------------------------------------------------------------
Japan 8.9
- -------------------------------------------------------------------
Luxembourg 1.4
- -------------------------------------------------------------------
Mexico 1.5
- -------------------------------------------------------------------
Netherlands 1.0
- -------------------------------------------------------------------
South Africa 0.9
- -------------------------------------------------------------------
South Korea 0.7
- -------------------------------------------------------------------
Spain 1.1
- -------------------------------------------------------------------
Sweden 1.7
- -------------------------------------------------------------------
Switzerland 7.0
- -------------------------------------------------------------------
United Kingdom 12.9
- -------------------------------------------------------------------
United States 42.4
- -------------------------------------------------------------------
Short Term Investments 10.4
- -------------------------------------------------------------------
Other Assets & Liabilities -10.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 6.1%
- -------------------------------------------------------------------
Capital Goods 4.1
- -------------------------------------------------------------------
Consumer Cyclical 6.4
- -------------------------------------------------------------------
Consumer Staples 11.0
- -------------------------------------------------------------------
Energy 4.0
- -------------------------------------------------------------------
Finance 18.9
- -------------------------------------------------------------------
Health Care 14.1
- -------------------------------------------------------------------
Services 8.5
- -------------------------------------------------------------------
Technology 25.1
- -------------------------------------------------------------------
Transportation 1.4
- -------------------------------------------------------------------
Short Term Investments 10.4
- -------------------------------------------------------------------
Other Assets & Liabilities -10.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
30
The Hartford Global Technology Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/1/00 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GOLDMAN SACHS TECHNOLOGY
GLOBAL TECHNOLOGY FUND COMPOSITE INDEX S & P 500 INDEX
---------------------- ------------------------ ---------------
5/1/00 9450 10000 10000
8512 8880 9795
9812 9972 10036
9180 9508 9879
10425 10744 10493
8929 9004 9939
10/00 8102 8324 9897
6146 6418 9117
5930 5868 9162
6868 6831 9487
5367 4937 8623
4626 4251 8077
5479 5063 8704
5217 4862 8762
5301 4874 8549
4954 4527 8465
4194 3938 7936
3265 3141 7296
10/01 3762 3646 7435
4429 4267 8006
4588 4192 8076
4541 4187 7958
3978 3628 7804
4279 3886 8098
3763 3410 7607
3547 3271 7551
3181 2808 7014
2862 2524 6467
2824 2492 6509
2308 2047 5803
10/02 2796 2494 6313
3284 2930 6684
2824 2504 6292
2871 2481 6127
2862 2519 6035
2852 2491 6094
3162 2751 6595
3509 3058 6942
3547 3050 7031
3744 3225 7155
3988 3448 7295
3941 3398 7217
10/03 4391 3730 7625
4476 3802 7692
4523 3860 8095
4701 4042 8244
4645 3927 8359
4513 3819 8233
4204 3596 8103
4485 3796 8214
4579 3889 8374
4063 3521 8096
3791 3345 8129
3960 3461 8217
10/04 4147 3645 8342
4401 3850 8679
4532 3973 8975
4269 3710 8756
4269 3718 8939
4081 3628 8781
4016 3442 8614
4381 3755 8888
4372 3682 8901
4654 3930 9232
4682 3900 9148
4719 3940 9222
10/05 4663 3871 9068
</Table>
<Table>
--- GLOBAL TECHNOLOGY FUND --- GOLDMAN SACHS TECHNOLOGY COMPOSITE INDEX
$9,450 starting value $10,000 starting value
$4,663 ending value $3,871 ending value
-- S & P 500 INDEX
$10,000 starting value
$9,068 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------------
Global Tech A# 5/1/2000 12.44% -10.46% -12.05%
- -----------------------------------------------------------------
Global Tech A## 5/1/2000 6.20% -11.47% -12.95%
- -----------------------------------------------------------------
Global Tech B# 5/1/2000 11.45% -11.11% -12.71%
- -----------------------------------------------------------------
Global Tech B## 5/1/2000 6.45% -11.47% -12.86%
- -----------------------------------------------------------------
Global Tech C# 5/1/2000 11.45% -11.11% -12.71%
- -----------------------------------------------------------------
Global Tech C## 5/1/2000 10.45% -11.11% -12.71%
- -----------------------------------------------------------------
Global Tech Y# 5/1/2000 12.86% -10.05% -11.67%
- -----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT TEAM
SCOTT E. SIMPSON
Senior Vice President, Partner,
Global Industry Analyst
JOHN F. AVERILL, CFA
Senior Vice President, Partner, Global Industry Analyst
ERIC STROMQUIST
Senior Vice President, Partner, Global Industry Analyst
BRUCE L. GLAZER
Senior Vice President, Partner, Global Industry Analyst
ANITA M. KILLIAN, CFA
Vice President, Global Industry Analyst
VIKRAM MURTHY
Vice President, Global Industry Analyst
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Technology Fund Class A, before sales charge, returned
12.44% for the twelve-month period ended October 31, 2005. The Fund outperformed
the Goldman Sachs Technology Index, which returned 6.20%, and the Lipper Science
and Technology Mutual Fund Average, which returned 8.47% over the period.
WHY DID THE FUND PERFORM THIS WAY?
The Information Technology sector gained momentum at the end of the period,
recovering from losses suffered earlier in 2005 when disappointing earnings
forecasts from a number of companies combined with increasing oil prices, rising
inflation and a slowing global economy drove the sector lower. Key factors in
the sector's recovery have been positive news on the economy and within the
Information Technology sector itself.
Strong security selection within Communications Equipment was the primary driver
of the Fund's outperformance relative to the Goldman Sachs Technology Composite
Index. We continue to see demand for TFT-LCD flat panel televisions as growth
remains strong across all geographic regions. Corning, the world's largest
manufacturer of LCD glass, was top contributor to relative and absolute
performance. Nokia (not in the benchmark) was another positive relative and
absolute contributor within Communications Equipment as the company benefited
from growth in emerging markets.
Our overweight to and strong security selection within Internet Software &
Services also contributed to performance. Google, a
31
- --------------------------------------------------------------------------------
top contributor on a relative and absolute basis, has benefited from a secular
spending shift toward non-traditional modes of advertisement such as the
Internet.
The primary detractors from benchmark relative performance during the period
were the Fund's underweight positions in Apple Computer and Hewlett-Packard.
Apple Computer was not held by the Fund but posted strong returns as the company
saw growth of iPod sales during the period.
WHAT IS THE OUTLOOK?
Overall, we see the growth opportunities coming from the consumer side of the
technology sector. The internet continues to offer high growth, with areas such
as paid search and on-line advertising standing out. We are also enthusiastic
about the video game cycle, as the next generation platforms look very
promising. Elsewhere, while cell phone industry growth rates are decelerating to
15-20% growth this year, tremendous growth in emerging markets continues to
provide investment opportunities.
The enterprise software market is relatively mature, and therefore we expect
slower growth over the next several years. Similarly, commoditization and
maturation within the computer hardware segment limits growth opportunities.
However, as the corporate capital investment cycles ebb and flow, these more
cyclical areas may be attractive to varying degrees, even at slower growth
rates.
Within the technology sector, varying growth rates, earnings visibility and
cyclicality causes the stocks to carry a range of valuations spanning the
growth/value spectrum, heightening the importance of security selection.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Bermuda 1.5%
- -------------------------------------------------------------------
Canada 3.3
- -------------------------------------------------------------------
Finland 5.5
- -------------------------------------------------------------------
India 0.4
- -------------------------------------------------------------------
Luxembourg 0.7
- -------------------------------------------------------------------
South Korea 4.1
- -------------------------------------------------------------------
Switzerland 0.9
- -------------------------------------------------------------------
Taiwan 3.1
- -------------------------------------------------------------------
United States 79.9
- -------------------------------------------------------------------
Short Term Investments 2.2
- -------------------------------------------------------------------
Other Assets & Liabilities -1.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Audio and Video Equipment Manufacturing 4.1%
- -------------------------------------------------------------------
Business Support Services 1.4
- -------------------------------------------------------------------
Communications Equipment Manufacturing 10.8
- -------------------------------------------------------------------
Computer and Peripheral Manufacturing 13.7
- -------------------------------------------------------------------
Data Processing Services 4.0
- -------------------------------------------------------------------
Electrical Equip. Manufacturing -- Component Other 4.5
- -------------------------------------------------------------------
Employment Services 1.0
- -------------------------------------------------------------------
Internet Providers & Web Search Portals 12.2
- -------------------------------------------------------------------
Management, Scientific, and Tech Consulting Ser 2.0
- -------------------------------------------------------------------
Other Services -- Other Personal Services 0.7
- -------------------------------------------------------------------
Professional Services -- Computer Sys. Design &
Related 5.4
- -------------------------------------------------------------------
Semiconductor, Electronic Component Manufacturing 19.5
- -------------------------------------------------------------------
Software Publishers 17.8
- -------------------------------------------------------------------
Wireless Telecommunications Carriers 2.3
- -------------------------------------------------------------------
Short Term Investments 2.2
- -------------------------------------------------------------------
Other Assets & Liabilities -1.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
32
The Hartford Growth Allocation Fund
(advised by Hartford Investment Financial Services, LLC)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 5/28/04 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
GROWTH ALLOCATION FUND S&P 500 INDEX AGGREGATE BOND INDEX
---------------------- ------------- --------------------
5/28/04 9450 10000 10000
6/04 9611 10194 10057
7/04 9337 9857 10157
8/04 9346 9896 10351
9/04 9601 10003 10379
10/04 9790 10156 10466
11/04 10178 10566 10382
12/04 10494 10925 10477
1/05 10238 10659 10543
2/05 10409 10883 10481
3/05 10200 10690 10428
4/05 10020 10487 10569
5/05 10313 10820 10683
6/05 10474 10836 10741
7/05 10787 11239 10643
8/05 10845 11136 10780
9/05 10939 11226 10669
10/05 10683 11039 10584
</Table>
<Table>
--- GROWTH ALLOCATION FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$10,683 ending value $10,000 starting value $11,039 ending value
$10,584 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from an affiliate of the investment adviser, without
which performance would have been lower. For information on current expense
waivers/reimbursements, please see the prospectus.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Growth Allocation A# 5/28/2004 9.12% 8.95%
- ----------------------------------------------------------
Growth Allocation A## 5/28/2004 3.14% 4.74%
- ----------------------------------------------------------
Growth Allocation B# 5/28/2004 8.37% 8.28%
- ----------------------------------------------------------
Growth Allocation B## 5/28/2004 3.37% 5.56%
- ----------------------------------------------------------
Growth Allocation C# 5/28/2004 8.47% 8.28%
- ----------------------------------------------------------
Growth Allocation C## 5/28/2004 7.47% 8.28%
- ----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve month period ended October 31, 2005, The Hartford Growth
Allocation Fund Class A had a total return, before sales charge, of 9.12%,
versus the return of 10.50% for the Multi-Cap Core Fund Index and 1.13% for the
Lehman Brothers U.S. Aggregate Bond Index and 8.72% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most. Equities performed solidly during the year,
with small and mid capitalization stocks outperforming large cap stocks through
most of the year, in addition, the Fund's performance is affected by the
performance of the underlying funds. Top fund performers included Capital
Appreciation, Disciplined Equity, Small Company and SmallCap Growth. Fund
underperformers included International Capital Appreciation and Global Leaders.
However, in the period after the hurricanes, equities generally declined, with
large caps losing less than the smaller capitalization issues.
The Fund seeks to achieve long-term capital appreciation by investing in a
combination of domestic and foreign equity mutual funds with a small allocation
to fixed income funds. The Fund's target allocation is typically 80% equity and
20% fixed income. The equity component of the Fund is structured around five
equity indices. For the twelve month period, the MSCI EAFE was the top performer
(up 18.09%), followed by the S&P Midcap 400 (up 17.65%), the Russell 2000 (up
12.08%), the S&P 500/Barra Value (up 10.17%) and the S&P 500/Barra Growth (up
7.25%). International, midcap and small cap stocks are not included in the
33
- --------------------------------------------------------------------------------
S&P 500 Index. As such, the Fund's exposure to those equity styles were
beneficial since for the full year they each outperformed the large cap S&P 500
Index by a considerable margin. It should be noted, however, that in the period
after the hurricanes, the Fund's underweight to large cap stocks detracted from
performance, offsetting a portion of the gains from earlier in the year. The
fixed income component of the Fund is structured around three fixed income
indices. For the past year, the best performer was the Lehman Brothers U.S. TIPS
Index (up 2.94%), followed by the Lehman Aggregate Bond Index (up 1.13%) and the
Lehman 1-3 Year Government Index (up 0.80%). While short-term interest rose
throughout the year, long-term interests declined or remained stable until
recently. Hence, the Fund's allocation to the Short Duration Fund reduced the
portfolio's duration and accordingly detracted from performance. The Fund did,
however, benefit relative to the Index due to its out-of-index allocation to
Treasury Inflation Protected Securities (TIPS).
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. It is still too early to tell fully
what effect the storms will have on the economy. However, it is likely that
there will be a near-term slowing followed by a bounce related to rebuilding.
This pattern would represent a fairly typical reaction to natural disasters. For
the remainder of the year, however, we are forecasting higher short-term rates
resulting from further rate increases by the Federal Reserve. As short-term
rates continue to rise, we believe the yield curve will continue to flatten,
with short and long maturity Treasury rates eventually trading at similar yield
levels or inverting. Since the Short Duration Fund has been adding Treasury
Inflation-Protected Securities (TIPS) to its portfolio, we slightly decreased
the allocation to the Inflation Plus Fund to keep the TIPS exposure in balance.
Within the equity component of the portfolio, more international exposure has
been added to some underlying domestic equity Funds. In response, the allocation
to foreign funds has been marginally reduced. Due to their strong performance,
the Capital Appreciation and Disciplined Equity Funds will also play a greater
role in the portfolio. The allocation to the MidCap Value Fund was modestly
reduced for style reasons. We continue to use cash flows to implement our
allocation changes.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 11.5%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 10.6
- -------------------------------------------------------------------
Hartford Dividend and Growth Fund, Class Y 2.7
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 4.5
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 4.4
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.7
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 7.9
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 6.8
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 5.1
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 7.6
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 6.9
- -------------------------------------------------------------------
Hartford U.S. Government Securities Fund, Class Y 2.5
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 8.4
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 9.8
- -------------------------------------------------------------------
Other Assets and Liabilities 0.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
34
The Hartford Growth Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GROWTH FUND RUSSELL 1000 GROWTH INDEX
----------- -------------------------
10/31/95 9450 10000
8530 10349
9760 10752
9362 10813
9631 11174
9836 11378
9950 11393
10206 11693
10484 12101
10425 12118
9791 11408
9987 11702
10771 12554
10/96 10881 12629
11470 13578
11100 13312
11598 14245
11331 14148
10734 13383
11136 14271
12190 15302
12663 15914
13815 17320
13440 16307
14067 17110
10/97 13635 16476
13543 17177
13741 17369
13906 17888
14901 19234
15724 20001
15779 20277
15523 19701
16426 20907
16145 20769
13650 17652
14602 19007
10/98 15330 20535
16221 22098
17813 24091
18663 25505
17970 24340
18894 25623
19175 25656
18779 24868
19637 26609
19315 25763
18820 26183
18482 25633
10/99 19752 27568
20733 29057
23989 32079
23204 30574
25654 32069
25497 34366
23298 32730
22586 31080
23434 33436
23068 32042
24974 34942
24639 31636
10/00 23654 30140
21451 25697
22802 24885
21761 26605
20744 22087
19393 19684
21674 22174
21736 21848
21067 21341
20422 20808
18711 19106
17062 17199
10/01 17644 18102
19287 19842
19473 19804
18890 19453
18357 18646
18915 19291
17402 17717
17042 17288
15491 15689
14462 14826
14648 14871
13482 13329
10/02 14760 14551
15603 15341
14648 14281
14326 13934
14077 13870
14549 14128
15777 15172
16546 15929
16930 16149
17203 16551
17563 16963
17513 16781
10/03 18840 17724
19088 17911
19423 18530
20056 18908
20279 19029
20192 18675
19932 18458
20763 18802
21197 19037
19584 17961
19113 17873
19932 18043
10/04 20081 18324
20800 18955
21705 19698
20775 19042
20527 19244
20043 18893
19919 18534
21098 19431
21321 19360
21743 20306
21581 20044
21916 20137
10/05 21482 19941
</Table>
<Table>
--- GROWTH FUND --- RUSSELL 1000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$21,482 ending value $19,941 ending value
</Table>
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.
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.
PORTFOLIO MANAGEMENT
ANDREW J. SHILLING, CFA
Senior Vice President, Partner
JOHN A. BOSELLI, CFA
Senior Vice President, Partner
AVERAGE ANNUAL TOTAL RETURNS(1, 2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- -------------------------------------------------------------------
Growth A# 6/8/1949 6.98% -1.91% 8.56% 11.08%
- -------------------------------------------------------------------
Growth A## 6/8/1949 1.11% -3.01% 7.94% 10.97%
- -------------------------------------------------------------------
Growth B# 11/14/1994 6.14% -2.61% NA* NA*
- -------------------------------------------------------------------
Growth B## 11/14/1994 1.14% -2.93% NA* NA*
- -------------------------------------------------------------------
Growth C# 11/14/1994 6.21% -2.58% 7.79% 8.59%
- -------------------------------------------------------------------
Growth C## 11/14/1994 5.21% -2.58% 7.79% 8.59%
- -------------------------------------------------------------------
Growth H# 11/14/1994 6.44% -2.45% NA* NA*
- -------------------------------------------------------------------
Growth H## 11/14/1994 2.44% -2.78% NA* NA*
- -------------------------------------------------------------------
Growth L# 6/8/1949 7.23% -1.71% 8.67% 11.12%
- -------------------------------------------------------------------
Growth L## 6/8/1949 2.16% -2.66% 8.15% 11.02%
- -------------------------------------------------------------------
Growth M# 11/14/1994 6.45% -2.44% NA* NA*
- -------------------------------------------------------------------
Growth M## 11/14/1994 2.45% -2.77% NA* NA*
- -------------------------------------------------------------------
Growth N# 11/14/1994 6.45% -2.44% 7.86% 8.66%
- -------------------------------------------------------------------
Growth N## 11/14/1994 5.45% -2.44% 7.86% 8.66%
- -------------------------------------------------------------------
Growth Y# 2/19/2002 7.49% NA NA 4.65%
- -------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes L, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, H, L, M, N
and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Growth Fund Class A returned 6.98%, before sales charge, for the
twelve-month period ended October 31, 2005. The Fund lagged the Russell 1000
Growth benchmark return of 8.81% and the Lipper Large Cap Growth Funds Average
return of 10.06%.
WHY DID THE FUND PERFORM THIS WAY?
The twelve months ended October 31, 2005 were subject to significant volatility.
2004 ended on a positive note as markets rallied during the traditionally strong
fourth quarter. Rising oil prices, the Federal Reserve's ongoing interest rate
increases, and inflation concerns began to take their toll during the first part
of 2005, and investors pushed stocks lower through April. Markets reversed
course over the summer as corporate earnings strength continued despite rising
interest rates and input costs. The fiscal year closed on a weak note, as
markets fell in October. Growth again lagged value during the period, as the
Russell 1000 Growth's 8.81% return was well below the 11.86% return of the
Russell 1000 Value.
The Fund underperformed in this environment due to stock selection. Consumer
Discretionary stocks provided the greatest headwinds during the year, largely
due to positions in online auctioneer eBay, satellite radio provider XM
Satellite, and pet supplies retailer PETsMART. eBay fell on concerns of slowing
growth in the US, forecasts of lower margins, and concerns about rising
competition. XM Satellite fell earlier in the year on concerns about the rising
costs of adding subscribers. The stock has since recovered some of its loss, and
we retain our position. PetSmart fell over the summer as other large retailers
targeted pet supplies as a growth area. Other negative contributors during the
year included wireless email device maker Research In Motion and pharmaceutical
concern Amgen.
Financials were the greatest source of value added during the year, due to both
our positive stock selection and our overweight in the
35
- --------------------------------------------------------------------------------
sector. Top contributors in this sector included derivatives exchange Chicago
Mercantile, insurer Progressive, and asset manager Franklin Resources. Chicago
Mercantile benefited from rising volume and increases in the rates charged per
contract traded. Progressive continued to benefit from favorable trends in the
auto insurance business, while Franklin Resources rose on strong performance and
distribution for its investment products. Other top contributors during the year
included internet search firm Google, energy companies Petro-Canada and
Halliburton, and Mexican cell phone operator America Movil.
WHAT IS THE OUTLOOK?
The marked increase in global energy prices in the aftermath of the destructive
US hurricane season will negatively impact economic growth near term. US
consumers have been especially hard hit, as they also face a noticeable increase
in short-term interest rates. Energy prices remain high, but once this energy
shock has been absorbed by the world economy, activity is expected to strengthen
again. Inflation is set to accelerate globally, driven by rising energy prices.
We expect that this will fail to feed through to other inflation categories on a
sustained basis given the determined anti-inflationary stance of the Federal
Reserve Bank. We therefore look for a decelerating rate of increase in inflation
over the course of 2006.
We continue to focus our efforts on picking stocks one-at-a-time based on
detailed fundamental research. Recent transactions decreased our exposure to the
Consumer Discretionary sector as we eliminated Apollo Group, eBay, and PETsMART
on concerns that increasing competition would lead to slower growth rates. Our
retailing exposure is at its lowest level in some time as we believe high energy
prices will continue to crimp retail sales. As a result of bottom-up investment
decisions, the Fund ended the period with its largest overweight to the
Financials sector and its largest underweight to Consumer Staples.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 1.5%
- -------------------------------------------------------------------
Capital Goods 5.9
- -------------------------------------------------------------------
Consumer Cyclical 1.3
- -------------------------------------------------------------------
Consumer Staples 2.4
- -------------------------------------------------------------------
Energy 4.5
- -------------------------------------------------------------------
Finance 21.2
- -------------------------------------------------------------------
Health Care 20.7
- -------------------------------------------------------------------
Services 7.3
- -------------------------------------------------------------------
Technology 32.6
- -------------------------------------------------------------------
Short-Term Investments 12.1
- -------------------------------------------------------------------
Other Assets & Liabilities -9.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
36
The Hartford Growth Opportunities Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS SHORT- AND LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GROWTH OPPORTUNITIES FUND RUSSELL 3000 GROWTH INDEX
------------------------- -------------------------
10/31/95 9450 10000
9595 10394
9302 10471
9477 10777
9895 11003
9827 11037
10318 11384
10604 11801
10426 11733
9486 10968
9867 11303
10770 12100
10/96 10807 12114
11319 12968
10900 12762
11447 13600
10809 13440
10057 12692
10154 13449
11283 14505
11749 15077
12938 16358
12532 15535
13197 16349
10/97 12616 15705
12512 16264
12398 16430
12209 16852
13297 18139
13974 18867
14061 19114
13722 18493
14456 19541
13729 19279
11205 16258
12082 17538
10/98 12650 18909
13127 20350
14750 22186
15208 23466
14032 22314
14770 23463
14780 23634
14388 22965
15437 24543
15407 23765
15677 24060
15748 23619
10/99 16884 25320
18845 26773
22666 29689
22364 28377
28937 30150
26241 31857
24004 30219
22534 28621
25959 30890
25142 29506
28560 32206
28585 29256
10/00 26103 27802
21086 23640
23453 23033
23038 24643
20070 20515
17842 18310
19525 20620
19354 20375
19314 19982
18858 19398
17582 17837
14865 15982
10/01 15622 16864
17191 18469
17799 18512
17610 18162
16550 17379
17421 18039
16558 16641
16345 16197
14512 14707
13090 13798
12778 13837
11759 12428
10/02 12581 13535
13723 14308
12737 13320
12565 12993
12392 12915
12737 13153
13896 14142
14972 14904
15408 15115
15556 15544
16254 15962
16040 15774
10/03 17462 16695
18046 16897
18292 17442
18851 17840
19122 17941
19262 17640
18687 17382
19401 17707
19968 17957
18276 16892
18029 16786
18999 17006
10/04 19303 17283
20215 17950
21242 18648
20494 18007
20314 18203
19936 17841
19418 17434
20667 18309
21464 18297
22713 19224
22812 18975
23321 19068
10/05 22877 18836
</Table>
<Table>
--- GROWTH OPPORTUNITIES FUND --- RUSSELL 3000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$22,877 ending value $18,836 ending value
</Table>
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.
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.
PORTFOLIO MANAGER
MICHAEL T. CARMEN, CFA
Senior Vice President, Partner
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- ---------------------------------------------------------------------
Growth Opp
A#.......... 3/31/1963 18.52% -2.60% 9.24% 12.90%
- ---------------------------------------------------------------------
Growth Opp
A##......... 3/31/1963 11.99% -3.70% 8.63% 12.75%
- ---------------------------------------------------------------------
Growth Opp
B#.......... 11/14/1994 17.57% -3.27% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
B##......... 11/14/1994 12.57% -3.56% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
C#.......... 11/14/1994 17.57% -3.27% 8.46% 10.02%
- ---------------------------------------------------------------------
Growth Opp
C##......... 11/14/1994 16.57% -3.27% 8.46% 10.02%
- ---------------------------------------------------------------------
Growth Opp
H#.......... 11/14/1994 17.92% -3.10% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
H##......... 11/14/1994 13.92% -3.39% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
L#.......... 3/31/1963 18.81% -2.37% 9.37% 12.93%
- ---------------------------------------------------------------------
Growth Opp
L##......... 3/31/1963 13.18% -3.32% 8.84% 12.80%
- ---------------------------------------------------------------------
Growth Opp
M#.......... 11/14/1994 17.90% -3.11% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
M##......... 11/14/1994 13.90% -3.40% NA* NA*
- ---------------------------------------------------------------------
Growth Opp
N#.......... 11/14/1994 17.90% -3.11% 8.56% 10.10%
- ---------------------------------------------------------------------
Growth Opp
N##......... 11/14/1994 16.90% -3.11% 8.56% 10.10%
- ---------------------------------------------------------------------
Growth Opp
Y#.......... 2/19/2002 19.10% NA NA 9.43%
- ---------------------------------------------------------------------
Growth Opp
Z#.......... 3/1/1996 19.10% -2.13% NA 9.68%
- ---------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes L, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, H, L, M, N,
Y and Z shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Growth Opportunities Fund Class A returned 18.52%, before sales
charge, for the twelve-month period ended October 31, 2005, outperforming the
benchmark Russell 3000 Growth Index, which rose 8.99%. The Fund also
outperformed the Lipper Multi-Cap Growth Funds Average, which returned 12.95%.
These results were achieved against a backdrop of underperformance for growth
investing. The Russell 3000 Growth's 8.99% return was well below the 11.96%
return posted by the Russell 3000 Value, a bias that was repeated across the
capitalization spectrum.
WHY DID THE FUND PERFORM THIS WAY?
The twelve months ended October 31, 2005, were subject to significant
volatility. 2004 ended on a positive note as markets rallied during the
traditionally strong fourth quarter. Rising oil prices, the Federal Reserve's
ongoing interest rate increases, and inflation concerns began to take their toll
during the first part of 2005, and investors pushed stocks lower through April.
Markets reversed course over the summer as corporate earnings strength continued
despite rising interest rates and input costs. The fiscal year closed on a weak
note, as markets fell in October.
The Fund outperformed in this volatile environment by maintaining its focus on
stock selection. For the year, the Fund had positive value-added in eight of ten
economic sectors. Positions in Technology, Consumer Discretionary, and Materials
stocks were most additive to returns. In Technology, software provider Red Hat
rose on strong margins and growth in the firm's international business. Internet
search and advertising company Google continued its ascent, benefiting both from
a strong secular trend toward increased online advertising and from greater
investor appreciation of its exceptional growth dynamics. In Consumer
Discretionary, Sirius Satellite appreciated on strong growth in subscribers,
largely driven by deals to install satellite radio in cars. Within Materials,
cement producer Rinker continued to benefit from strong demand for construction
materials in the southern and south-western United States. Other strong
performers during the year included
37
- --------------------------------------------------------------------------------
electronic payments provider VeriFone and natural gas producer Chesapeake
Energy.
The Fund's results in Utilities and Industrials detracted from performance.
Relative performance was hurt by not having any positions in the high performing
Utilities sector. Performance in the Industrials sector was impacted by
relocation services company SIRVA, which missed earnings in two consecutive
quarters and reduced guidance for the following fiscal year. The issues were
principally related to a slowdown in the UK housing market as well as increased
reserves taken against their insurance unit. Following the second miss we
eliminated our position in the stock. Another weak performer was pharmaceutical
company Elan, which tumbled 70% in one day. The news that their key Multiple
Sclerosis drug Tysabri potentially caused a fatal brain ailment in two patients
in a test trial, resulting in the voluntary removal of the drug from the market,
proved disastrous to the stock. We no longer hold our position in Elan.
WHAT IS YOUR OUTLOOK?
The marked increase in global energy prices in the aftermath of the destructive
US hurricane season will negatively impact economic growth near term. US
consumers have been especially hard hit, as they face a noticeable increase in
short-term interest rates as well. Energy prices remain high, but once this
energy shock has been absorbed by the world economy, activity is expected to
strengthen again. Inflation is set to accelerate globally, driven by rising
energy prices. We expect that this will fail to feed through to other inflation
categories on a sustained basis given the determined anti-inflationary stance of
the Federal Reserve Bank. We therefore look for a decelerating rate of increase
in inflation over the course of 2006.
We like to think in terms of absolute levels of sector weightings. Currently our
largest exposure is to Health Care, followed by Technology and Consumer
Discretionary. We would note that we have also reduced our exposure to the
Energy sector, reflecting our recognition that our bullish energy view has
become more consensus. Our lowest weights are in the Utilities, Materials, and
Financials sectors.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.7%
- -------------------------------------------------------------------
Consumer Cyclical 13.7
- -------------------------------------------------------------------
Consumer Staples 2.3
- -------------------------------------------------------------------
Energy 3.7
- -------------------------------------------------------------------
Finance 2.4
- -------------------------------------------------------------------
Health Care 28.2
- -------------------------------------------------------------------
Services 8.9
- -------------------------------------------------------------------
Technology 30.0
- -------------------------------------------------------------------
Transportation 3.1
- -------------------------------------------------------------------
Utilities 0.6
- -------------------------------------------------------------------
Short-Term Investments 17.8
- -------------------------------------------------------------------
Other Assets & Liabilities -14.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
38
The Hartford High Yield Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS HIGH CURRENT INCOME.
GROWTH OF CAPITAL IS A SECONDARY OBJECTIVE.
PERFORMANCE OVERVIEW(2) 9/30/98 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS HIGH YIELD
HIGH YIELD FUND CORPORATE INDEX
--------------- --------------------------
9/30/98 9550 10000
10/98 9529 9795
9857 10201
9869 10213
10017 10364
10008 10303
10138 10401
10326 10602
10124 10459
10114 10437
10103 10479
10027 10363
9987 10288
10/99 10040 10220
10168 10341
10211 10457
10120 10412
10106 10431
10010 10212
10049 10229
9913 10123
10173 10330
10280 10408
10424 10479
10359 10388
10/00 10175 10056
9921 9657
10274 9844
10957 10581
11014 10722
10764 10469
10624 10339
10689 10525
10339 10230
10497 10381
10586 10503
9961 9797
10/01 10358 10039
10686 10406
10570 10363
10464 10436
10109 10290
10215 10538
10314 10702
10209 10646
9641 9862
9193 9431
9308 9700
9076 9572
10/02 9097 9489
9660 10077
9759 10218
10006 10558
10197 10688
10377 10996
10921 11648
11103 11768
11332 12107
11054 11974
11155 12112
11501 12442
10/03 11707 12694
11859 12886
12130 13178
12265 13429
12233 13396
12270 13487
12097 13395
11865 13169
12014 13357
12166 13539
12381 13804
12552 14004
10/04 12790 14258
12853 14430
12976 14645
12914 14626
13136 14841
12692 14409
12586 14269
12818 14522
12985 14807
13152 15066
13171 15095
13025 14944
10/05 12913 14840
</Table>
<Table>
--- HIGH YIELD FUND --- LEHMAN BROTHERS HIGH YIELD CORPORATE INDEX
$9,550 starting value $10,000 starting value
$12,913 ending value $14,840 ending value
</Table>
LEHMAN BROTHERS HIGH YIELD CORPORATE 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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ------------------------------------------------------------
High Yield A# 9/30/1998 0.97% 4.89% 4.35%
- ------------------------------------------------------------
High Yield A## 9/30/1998 -3.63% 3.92% 3.68%
- ------------------------------------------------------------
High Yield B# 9/30/1998 0.08% 4.11% 3.59%
- ------------------------------------------------------------
High Yield B## 9/30/1998 -4.66% 3.82% 3.59%
- ------------------------------------------------------------
High Yield C# 9/30/1998 0.30% 4.19% 3.65%
- ------------------------------------------------------------
High Yield C## 9/30/1998 -0.65% 4.19% 3.65%
- ------------------------------------------------------------
High Yield Y# 9/30/1998 1.43% 5.27% 4.78%
- ------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
MARK NILAND, CFA
Executive Vice President
NASRI TOUTOUNGI
Managing Director
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford High Yield Fund
Class A had a total return, before sales charge, of 0.97%, versus the return of
3.25% for the Lipper High Current Yield Fund Index and 4.08% for the Lehman
Brothers High Yield Corporate Index. As of October 31, 2005, the SEC yield for
this Fund's Class A shares was 6.28%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most.
Throughout most of the year ended October 31, 2005, the Fund was defensively
positioned with a duration that was slightly short of the Index. While the short
duration was beneficial throughout most of the 12 month period, long-term
interest rates fell in the second quarter and the Fund's lower interest rate
sensitivity detracted from performance in that quarter. Also over the year, the
Fund was not positioned to fully take advantage of the flattening yield curve,
and therefore curve positioning was an expense to performance relative to the
benchmark. Over the twelve month period, sector allocation was a net detractor
from performance, with the greatest costs to performance occurring in the second
quarter of 2005. Sector allocations were only a modest cost during the rest of
the 12 month period. The greatest detractor from performance for the year was
security selection. Because the yields of CCC rated securities were not high
enough to warrant the additional risks of the low quality issues, the Fund was
underweight by approximately 50% to triple C's during the year. However,
investors were optimistic about the strength of the economy and triple C bonds
finished the year as the strongest performing credit bucket of the High Yield
sector. Particularly in the third quarter, issue selection detracted from the
Fund's relative performance. Holdings in General Motors and Ford struggled on
profit taking after a strong rally in May through June. Delphi
39
- --------------------------------------------------------------------------------
Automotive also struggled as the issuer was entangled in union discussions.
Within the Media Cable subsector, the portfolio was more defensively positioned
within the Charter capital structure, causing some underperformance as the
deeply subordinated bonds of Charter benefited from an exchange. However, our
cautious approach did help the Fund miss some poorer performing issues such as
Calpine, which we believe to be insolvent. The Fund does not use derivatives
such as options, futures and forward agreements for speculative purposes.
However, in the past year the Fund has used U.S. Treasury futures for purposes
of liquidity management and for tailoring interest rate exposure. Futures
contracts can often provide the desired exposures with less cost and more
liquidity than purchasing individual securities. The Fund also entered into
forward currency contracts to hedge away some of the currency risk of the
non-dollar denominated issues in the Fund. As major currencies appreciated
relative to the U.S. dollar this year, these forward contracts benefited
performance. Overall, the impact of these futures and forward contracts was
minimal compared to other factors that contributed to the Fund's performance.
WHAT IS YOUR OUTLOOK?
Our near term outlook for high yield bond prices remains neutral. Delphi's
bankruptcy filing on October 8 brought the auto sector volatility to a head,
with General Motors and Ford Motor Company bonds reaching new lows. Negative
earnings preannouncements continue from consumer-related and energy sensitive
issuers. However, Wall Street analyst estimates of S&P 500 third quarter
earnings remain strong at 15%. Riskier segments of the market are
underperforming as we still have several large LBO deals to finance, in the face
of rising short and long Treasury rates, uncertainty over consumer spending, and
concerns regarding corporate pricing power. On the positive side, default rates
remain low, and corporate liquidity is healthy. However, without a catalyst,
historically low spread levels and high spread volatility are likely to keep
prices from moving higher. Should our views change, we will adjust the portfolio
holdings accordingly.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- --------------------------------------------------------------------
AAA 0.4%
- --------------------------------------------------------------------
AA 5.5
- --------------------------------------------------------------------
A 3.7
- --------------------------------------------------------------------
BBB 14.1
- --------------------------------------------------------------------
BB 35.6
- --------------------------------------------------------------------
B 37.7
- --------------------------------------------------------------------
CCC 2.9
- --------------------------------------------------------------------
NR 0.1
- --------------------------------------------------------------------
TOTAL 100.0%
- --------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 13.0%
- -------------------------------------------------------------------
Capital Goods 3.3
- -------------------------------------------------------------------
Consumer Cyclical 11.3
- -------------------------------------------------------------------
Consumer Staples 3.6
- -------------------------------------------------------------------
Energy 4.6
- -------------------------------------------------------------------
Finance 12.1
- -------------------------------------------------------------------
Health Care 2.9
- -------------------------------------------------------------------
Services 16.0
- -------------------------------------------------------------------
Technology 17.8
- -------------------------------------------------------------------
Transportation 2.8
- -------------------------------------------------------------------
Utilities 9.7
- -------------------------------------------------------------------
Short-Term Investments 20.1
- -------------------------------------------------------------------
Other Assets & Liabilities -17.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
40
The Hartford Income Allocation Fund
(advised by Hartford Investment Financial Services, LLC)
INVESTMENT OBJECTIVE -- SEEKS CURRENT INCOME AND, AS A
SECONDARY OBJECTIVE, CAPITAL PRESERVATION.
PERFORMANCE OVERVIEW(2) 5/28/04 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S. AGGREGATE BOND
INCOME ALLOCATION FUND INDEX
---------------------- -----------------------------------
5/28/04 9550 10000
6/04 9560 10057
7/04 9603 10157
8/04 9683 10351
9/04 9713 10379
10/04 9781 10466
11/04 9766 10382
12/04 9833 10477
1/05 9837 10543
2/05 9839 10481
3/05 9765 10428
4/05 9821 10569
5/05 9889 10683
6/05 9940 10741
7/05 9911 10643
8/05 9993 10780
9/05 9938 10669
10/05 9881 10584
</Table>
<Table>
--- INCOME ALLOCATION FUND --- LEHMAN BROTHERS U.S. AGGREGATE
$9,550 starting value BOND INDEX
$9,881 ending value $10,000 starting value
$10,584 ending value
</Table>
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from an affiliate of the investment adviser, without
which performance would have been lower. For information on current expense
waivers/reimbursements, please see the prospectus.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Income Allocation A# 5/28/2004 1.01% 2.40%
- ----------------------------------------------------------
Income Allocation A## 5/28/2004 -3.55% -0.83%
- ----------------------------------------------------------
Income Allocation B# 5/28/2004 0.29% 1.66%
- ----------------------------------------------------------
Income Allocation B## 5/28/2004 -4.58% -1.10%
- ----------------------------------------------------------
Income Allocation C# 5/28/2004 0.30% 1.66%
- ----------------------------------------------------------
Income Allocation C## 5/28/2004 -0.68% 1.66%
- ----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Income
Allocation Fund Class A had a total return, before sales charge of 1.01%, versus
the return of 1.57% for the Lipper General Bond Index and 1.13% for the Lehman
Brothers U.S. Aggregate Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005 was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most.
The Fund is structured around six fixed income indices. Over the past twelve
months, the Credit Suisse First Boston (CSFB) Leveraged Loan Index was the top
performer (up 5.87%), followed by the Lehman Brothers High Yield Index (up
4.08%), the Lehman U.S. TIPS Index (up 2.94%), the Merrill Lynch 3-Month U.S.
Treasury Bill Index (up 2.76%), the Lehman Brothers U.S. Aggregate Bond Index
(up 1.13%), and finally the Lehman 1-3 Year Government Index (up 0.80%).
Throughout most of the year, the Fund's duration was targeted to be less than
the Lehman Aggregate based upon both the risk preferences of the Fund and in
anticipation of rising rates. While short-term interest rose throughout the
year, long-term interests declined or remained stable until recently. As such,
the Fund's lower interest rate sensitivity detracted from performance as
long-term interest rates fell. However, the Fund benefited, relative to the
Index, from its allocation to the Treasury Inflation Protected Securities (TIPS)
and more recently its inclusion of the Floating Rate Fund. The Fund's benchmark
does not have an allocation to TIPS or bank loans. While we maintain conviction
in our index level allocations, several of the underlying funds underperformed
their benchmarks during the past year. These Fund detractors included High Yield
Fund and Income Fund.
41
- --------------------------------------------------------------------------------
OUTLOOK
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
fully tell what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. In the third
quarter, we introduced the Floating Rate Fund into the portfolio since it was a
source of yield and provide some protection from rising interest rates. Bank
loans are also an excellent diversifier when combined with other fixed income
securities. As the Total Return Bond Fund and Short Duration Funds have been
adding Treasury Inflation-Protected Securities (TIPS) to their portfolios, we
recently have decreased allocations to the Inflation Plus Fund to keep the TIPS
exposure in balance. We continue to use cash flows to implement our allocation
changes.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 6.0%
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 14.8
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 17.0
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 8.9
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 21.9
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 26.9
- -------------------------------------------------------------------
Other Assets & Liabilities 0.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
42
The Hartford Income Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE A HIGH LEVEL OF
CURRENT INCOME. CAPITAL APPRECIATION IS A SECONDARY OBJECTIVE.
PERFORMANCE OVERVIEW(2) 10/31/02 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S. AGGREGATE BOND
INCOME FUND INDEX
----------- -----------------------------------
10/31/02 9550 10000
9663 9997
9821 10204
9885 10213
10046 10354
10100 10346
10316 10432
10461 10626
10542 10604
10195 10248
10274 10316
10564 10589
10/03 10581 10491
10637 10516
10805 10623
10896 10708
10996 10824
11082 10905
10790 10621
10693 10579
10771 10639
10899 10745
11110 10950
11172 10979
10/04 11306 11072
11244 10983
11357 11084
11378 11154
11376 11088
11212 11031
11291 11180
11417 11301
11499 11363
11462 11260
11600 11404
11493 11286
10/05 11387 11197
</Table>
<Table>
--- INCOME FUND --- LEHMAN BROTHERS U.S. AGGREGATE BOND INDEX
$9,550 starting value $10,000 starting value
$11,387 ending value $11,197 ending value
</Table>
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------
Income
A#...... 10/31/2002 0.70% 6.03%
- ------------------------------------------------
Income
A##..... 10/31/2002 -3.87% 4.42%
- ------------------------------------------------
Income
B#...... 10/31/2002 -0.04% 5.27%
- ------------------------------------------------
Income
B##..... 10/31/2002 -4.81% 4.36%
- ------------------------------------------------
Income
C#...... 10/31/2002 -0.03% 5.34%
- ------------------------------------------------
Income
C##..... 10/31/2002 -0.99% 5.34%
- ------------------------------------------------
Income
Y#...... 11/28/2003 0.98% 3.87%
- ------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Managing Director
EDWARD VAIMBERG
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Income Fund
Class A had a total return, before sales charge of 0.70%, versus the return of
1.28% for the Lipper BBB Rated Debt Fund Index and 1.13% for the Lehman Brothers
U.S. Aggregate Bond Index. The primary objective of The Hartford Income Fund is
to provide a high level of income. As of October 31, 2005, the SEC yield for
this Fund's Class A share was 4.91%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the U.S. bond
market. Short-term interest rates rose steadily throughout the year. In
contrast, for much of the year, long-term rates traded in a range. By the end of
the period, however, long-term rates had risen materially. The result was a much
flatter yield curve. During the year, the strength of the U.S. economy and
concerns over the outlook for inflation led the Federal Reserve to raise the
Federal Funds Target Rate. By November 1, 2005, the Federal Reserve had raised
the Federal Funds Target Rate twelve consecutive times since June of 2004. Over
the period, fluctuations in long-term rates reflected changing perceptions of
the strength of the U.S. economy and on the outlook for inflation. Over the
summer, for example, the destruction caused by Hurricanes Katrina and Rita and
historically high energy prices raised fears of a weakening economy, and
subsequently long-term rates fell in response. More recently, however, during
the last two months of the Fund's fiscal year, data on the US economy generally
indicated that the impact of the storms and energy prices on economic growth
appeared to be limited. Longer-term bond yields rose as a result, reaching close
to their highest levels of the fiscal year. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity bonds
declining most.
The Fund's benchmark is the investment grade Lehman Brothers U.S. Aggregate Bond
Index. However, as part of its approach and strategy to generate higher levels
of income and attractive total returns over the longer-term, the Income Fund
typically makes allocations to out-of-index sectors that are rated below
investment-grade or may be considered more volatile. Through the year ended
October 31, 2005, the Fund maintained exposure to high yield bonds and emerging
markets. It should be noted, though, that the Fund did maintain at least a
single A credit quality rating (investment grade) at all times. During the
fiscal year, emerging market bonds were the strongest performing bond group.
Accordingly, the Fund's exposure to emerging markets contributed to performance
relative to the benchmark. Even though high yield bonds went in and out of favor
with investors during the fiscal year, the high yield exposure had relatively
little impact on relative return over the full 12 month period. During the
fiscal year, the
43
- --------------------------------------------------------------------------------
Fund made opportunistic allocations to U.S. Treasury Inflation-Protected
Securities (TIPS). TIPS provide a direct hedge against inflation because
inflation that is actually realized is passed through to the holder. Overall,
this TIPS exposure was beneficial to the Fund's performance. The Fund's duration
was generally close to that of the Index through the period, reflecting a
decision to balance the risks of adverse interest rate movements with the
longer-term benefits that interest-rate exposure can provide in a
well-diversified, multi-sector portfolio like the Fund. Duration management,
which included selective use of interest-rate futures contracts, contributed
modestly to performance. Curve positioning, however, detracted from performance,
reflecting in large part an underweighting in the longest part of the yield
curve as it flattened.
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on solid footing
and that higher rates of inflation remained a risk. While it is still too early
to determine conclusively the full effect that the storms will have on the
economy, preliminary indications are that the near-term slowing is being
followed by a bounce related to the economy's underlying strength and rebuilding
efforts (a fairly typical reaction to natural disasters). For the remainder of
the year and early 2006, we are forecasting higher short-term rates resulting
from further rate increases by the Federal Reserve. As short-term rates continue
to rise, the yield curve may continue to flatten, with short and long maturity
Treasury rates eventually trading at similar yield levels or inverting if
inflation expectations remained contained. In this environment, the Fund
continues to source both yield and total return in a diversified manner across
multiple sectors, adjusting sector allocations opportunistically. This approach
has been integral to the Fund's strategy since inception, as it seeks to deliver
competitive higher yield while retaining an average credit quality of at least
A3. As a matter of policy, we accept a modestly higher level of volatility at
the Fund level and within individual sectors over the short- and
intermediate-terms in exchange for higher SEC yields and competitive total
returns over the long-term.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
LONG-TERM
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 40.4%
- -------------------------------------------------------------------
AA 3.0
- -------------------------------------------------------------------
A 9.7
- -------------------------------------------------------------------
BBB 20.6
- -------------------------------------------------------------------
BB 14.8
- -------------------------------------------------------------------
B 10.1
- -------------------------------------------------------------------
CCC 0.5
- -------------------------------------------------------------------
C 0.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.3%
- -------------------------------------------------------------------
Capital Goods 1.6
- -------------------------------------------------------------------
Consumer Cyclical 4.8
- -------------------------------------------------------------------
Consumer Staples 1.6
- -------------------------------------------------------------------
Energy 3.1
- -------------------------------------------------------------------
Finance 29.7
- -------------------------------------------------------------------
Foreign Governments 3.4
- -------------------------------------------------------------------
General Obligations 0.2
- -------------------------------------------------------------------
Health Care 1.4
- -------------------------------------------------------------------
Miscellaneous 0.3
- -------------------------------------------------------------------
Services 6.6
- -------------------------------------------------------------------
Technology 6.7
- -------------------------------------------------------------------
Transportation 1.5
- -------------------------------------------------------------------
U.S. Government Agencies 19.5
- -------------------------------------------------------------------
U.S. Government Securities 10.6
- -------------------------------------------------------------------
Utilities 3.5
- -------------------------------------------------------------------
Short-Term Investments 0.8
- -------------------------------------------------------------------
Other Assets & Liabilities 0.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
44
The Hartford Inflation Plus Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS A TOTAL RETURN THAT EXCEEDS THE RATE OF INFLATION
OVER AN ECONOMIC CYCLE.
PERFORMANCE OVERVIEW(2) 10/31/02 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
INFLATION PLUS FUND LEHMAN BROTHERS U.S. TIPS INDEX
------------------- -------------------------------
10/31/02 9550 10000
9527 9993
9841 10329
9889 10406
10244 10796
10082 10622
10036 10594
10507 11096
10406 10983
9920 10476
10071 10663
10389 11016
10/03 10411 11075
10410 11082
10499 11195
10608 11324
10841 11585
11002 11771
10487 11200
10627 11402
10620 11406
10706 11512
10975 11821
10988 11844
10/04 11077 11963
11044 11934
11228 12142
11226 12143
11172 12091
11172 12102
11365 12333
11445 12418
11468 12471
11246 12209
11486 12491
11455 12474
10/05 11309 12314
</Table>
<Table>
--- INFLATION PLUS FUND --- LEHMAN BROTHERS U.S. TREASURY
$9,550 starting value INFLATION-PROTECTED SECURITIES INDEX
$11,309 ending value $10,000 starting value
$12,314 ending value
</Table>
LEHMAN BROTHERS U.S. TREASURY INFLATION-PROTECTED SECURITIES 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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------------
Inflation Plus A# 10/31/2002 2.10% 5.80%
- --------------------------------------------------------
Inflation Plus A## 10/31/2002 -2.53% 4.19%
- --------------------------------------------------------
Inflation Plus B# 10/31/2002 1.33% 5.09%
- --------------------------------------------------------
Inflation Plus B## 10/31/2002 -3.54% 4.18%
- --------------------------------------------------------
Inflation Plus C# 10/31/2002 1.24% 5.06%
- --------------------------------------------------------
Inflation Plus C## 10/31/2002 0.26% 5.06%
- --------------------------------------------------------
Inflation Plus Y# 11/28/2003 2.29% 4.73%
- --------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Managing Director
TIMOTHY WILHIDE
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Inflation Plus
Fund Class A had a total return, before sales charges and net of expenses, of
2.10% versus the return of 2.13% for the Lipper Treasury Inflation-Protected
Securities Index and 2.95% for the Lehman Brothers U.S. Treasury Inflation-
Protected Securities Index. As of October 31, 2005, the SEC yield for this
Fund's Class A shares was 6.06%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005 was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas
and low inflation expectations. The result was a much flatter yield curve. As
the economy showed strength during the year, the Federal Reserve (the Fed)
continued to raise the Federal Funds Target Rate. By November 1, 2005, the
Federal Reserve had raised the Federal Funds Target Rate twelve consecutive
times since June of 2004. Despite the Fed's concern about near term inflation,
the declines at the long-end of the yield curve indicated that the bond market
was confident in the Fed's ability to limit inflation. Recently, however, the
destruction caused by Hurricanes Katrina and Rita and historically high energy
prices re-introduced fears of inflation and a weakening economy into the
financial markets. During the last several months of the year, long-term bonds
did rise and corporate bonds fell out of favor. Although most fixed rate bonds
declined over the last three months of the period, Treasury Inflation-Protected
Securities (TIPS) retained much of their value due to their unique feature that
automatically adjusts their principal value to reflect changes in inflation.
TIPS, as an asset class, have performed well over the past 12 months and have
outperformed similar maturity nominal (fixed-rate) Treasuries by a considerable
margin. The Fund began the 12 month period with a duration that was positioned
similarly to the Index, but soon after duration was brought slightly below that
of the benchmark, where it remained for the rest of the year. Although modest
tactical changes are made to the Fund's duration and curve positioning, on
average the Fund used a barbell approach, overweighting the shortest- and
longest-term maturities and underweighting intermediate-term TIPS. The barbell
approach is often beneficial when the yield curve is flattening, as was
exemplified in the second quarter of 2005 when the curve flattened
substantially. However, in this same quarter, selection within the TIPS sector
was challenged and offset the positive benefits of the duration decisions. The
effect of the hurricanes
45
- --------------------------------------------------------------------------------
driving up oil, natural gas and gasoline prices became a major concern in the
last three months of the period. In response to heightened inflation concerns,
the Fund increased its allocation to TIPS from 94% to 97% of the portfolio late
in the third quarter. The Fund struggled slightly relative to the Index in the
final months of the year because while beneficially overweigh at the shortest
end of the curve, the Fund was also slightly overweight the longest maturity
TIPS, which were underperforming the rest of the Index. During the year, the
Fund made very small allocations to Non-Dollar (foreign issue) TIPS and received
a modest boost to performance. To hedge away some of the currency risk of the
non-dollar denominated issues, the Fund entered into forward currency contracts.
While the overall impact of the futures contract was minimal compared to other
factors that impacted the Fund's performance, it was nominally beneficial as
major foreign currencies appreciated against the dollar. It should be noted that
the Fund does not use derivatives, such as options, futures and forward
agreements, for speculative purposes.
WHAT IS THE OUTLOOK?
As noted by the Federal Reserve, inflation pressures are rising, led by surging
oil and gasoline prices. The September CPI (Consumer Price Index) was the
highest in fourteen years and we expect year-over-year readings to be near 4% or
higher at least through year-end. Short (maturity) TIPS reflect these
expectations as breakevens rose sharply during September. However 10 year and
longer TIPS predict only 2.5% to 2.7% inflation, or roughly the same rate of
inflation as the last 5 to 10 years, regardless of the fact that the positive
inflation fundamentals of that era are not currently present. Therefore, we find
10 year and longer TIPS to be more attractive. Recently, TIPS have been under
some selling pressure as the market expects an aggressive Federal Reserve will
stifle inflation with additional increases to its Federal Funds Target Rate.
However, we see reasonable long-term value in this asset class. We believe that
TIPS will remain attractive until there is a clear sense that the current
inflation threat is receding.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 98.6%
- -------------------------------------------------------------------
A 0.5
- -------------------------------------------------------------------
BBB 0.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Finance 1.6%
- -------------------------------------------------------------------
Foreign Government 1.4
- -------------------------------------------------------------------
U.S. Government Securities 89.5
- -------------------------------------------------------------------
Short-Term Investments 2.0
- -------------------------------------------------------------------
Other Assets & Liabilities 5.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
46
The Hartford International Capital Appreciation Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 4/30/01 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
INTERNATIONAL CAP APP FUND MSCI EAFE INDEX
-------------------------- ---------------
4/30/01 9450 10000
8836 9655
8411 9264
8297 9096
7825 8868
6861 7971
10/01 7201 8175
7816 8477
8024 8528
7703 8076
7835 8133
8223 8616
8081 8639
8148 8756
7770 8411
7004 7582
6882 7566
6069 6756
10/02 6551 7120
7156 7443
6520 7194
6577 6894
6426 6736
6236 6609
6993 7265
7608 7711
7798 7902
8034 8095
8384 8291
8404 8548
10/03 9104 9082
9211 9285
9716 10011
10087 10153
10553 10390
10800 10452
10286 10224
10467 10256
10800 10498
10038 10158
10086 10205
10590 10473
10/04 11027 10831
11646 11574
11979 12082
11608 11861
11483 12376
11055 12070
10950 11800
11035 11818
11093 11980
11483 12348
11816 12663
12063 13230
10/05 11549 12844
</Table>
<Table>
--- INTERNATIONAL CAP APP FUND --- MSCI EAFE INDEX
$9,450 starting value $10,000 starting value
$11,549 ending value $12,844 ending value
</Table>
MSCI EAFE INDEX -- 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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------------
Int'l Cap App
A#............. 4/30/2001 4.74% 4.54%
- ------------------------------------------------------
Int'l Cap App
A##............ 4/30/2001 -0.98% 3.24%
- ------------------------------------------------------
Int'l Cap App
B#............. 4/30/2001 3.98% 3.81%
- ------------------------------------------------------
Int'l Cap App
B##............ 4/30/2001 -1.02% 3.42%
- ------------------------------------------------------
Int'l Cap App
C#............. 4/30/2001 3.98% 3.81%
- ------------------------------------------------------
Int'l Cap App
C##............ 4/30/2001 2.98% 3.81%
- ------------------------------------------------------
Int'l Cap App
Y#............. 4/30/2001 5.20% 5.00%
- ------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
ANDREW S. OFFIT
Senior Vice President, Partner
JEAN-MARC BERTEAUX
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford International Capital Appreciation Fund Class A returned 4.74%,
before sales charge, for the twelve-month period ended October 31, 2005. The
Fund underperformed the MSCI EAFE Index, which returned 18.59%, as well as the
Lipper International Multi-Cap Growth Funds Average, which returned 17.54% for
the period.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's underperformance during the annual period was a result of
disappointing returns for several stocks and an underweight to the surging
Energy and Materials sectors. Health Care was the area of greatest
underperformance, as the sharp decline in the stock price of Elan Corporation
(Pharmaceuticals) cost the Fund more than three percentage points. Elan's major
drug, Tysabri, an FDA-approved drug for multiple sclerosis, was withdrawn from
the market due to a patient death in a follow-on clinical trial. The patient
death and withdrawal of the drug were both tragic and totally unexpected. True
to our process, as soon as Tysabri was withdrawn we sold the position in Elan.
Stock selection in Industrials, Consumer Discretionary and Information
Technology sectors also detracted from performance relative to the benchmark.
Research In Motion (Technology Hardware & Equipment), EMI Group (Media) and Chi
Mei Optoelectron (Technology Hardware & Equipment) were among the leading
detractors from performance. Research in Motion, the maker of the popular
Blackberry devices, came under pressure due to an ongoing patent litigation case
with technology firm NTP.
The leading contributors to the Fund's absolute return were Japan Tobacco (Food,
Beverage & Tobacco), Roche Holdings (Pharmaceuticals & Biotechnology) and
Mitsubishi UFJ (Financials). In addition to these holdings, our position in Tom
Tom (Technology Hardware & Equipment) benefited the Fund's performance relative
to the benchmark. Mitsubishi Tokyo Financial (now Mitsubishi UFJ), the world's
largest bank, is benefiting from synergies playing out from its merger with UFJ,
a reduction in bad debt, and the improving Japanese economy. TomTom, Europe's
largest maker of car navigation gear, saw its shares double on strong earnings
and the success of its portable Go navigation system.
While our investment process is bottom-up, the Fund's sector allocations
detracted from relative performance. Overweight allocations to traditional
growth sectors such as Consumer Discretionary and Information Technology had a
negative impact, as those areas underperformed. Energy, Materials and Utilities
sectors, where we are underweight relative to the benchmark, were the best
performing areas of the market. As managers of a growth Fund, however, those
sectors are not traditionally areas of focus for us.
47
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
As usual, the Fund is positioned for growth. The Fund's overweight in Consumer
Discretionary, Health Care and Information Technology sectors, some of the
strongest areas of growth, are a result of our bottom-up research and stock
analysis. Despite the Fund's challenging relative performance during the annual
period, our process has not wavered. Our focus remains on stock and sector
selections that result from intense bottom-up research, diligently meeting with
the management of leading global companies, and leveraging the strong research
capabilities of our firm. We have strong conviction in our holdings and process
and our optimistic about the Fund's positioning.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.2%
- -------------------------------------------------------------------
Capital Goods 2.7
- -------------------------------------------------------------------
Consumer Cyclical 8.0
- -------------------------------------------------------------------
Consumer Staples 9.6
- -------------------------------------------------------------------
Energy 4.8
- -------------------------------------------------------------------
Finance 16.7
- -------------------------------------------------------------------
Health Care 8.9
- -------------------------------------------------------------------
Services 10.6
- -------------------------------------------------------------------
Short-Term Investments 20.3
- -------------------------------------------------------------------
Technology 21.3
- -------------------------------------------------------------------
Transportation 3.9
- -------------------------------------------------------------------
Other Assets & Liabilities -17.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Brazil 1.0%
- -------------------------------------------------------------------
Canada 7.4
- -------------------------------------------------------------------
Finland 1.8
- -------------------------------------------------------------------
France 14.4
- -------------------------------------------------------------------
Germany 9.6
- -------------------------------------------------------------------
Hong Kong 0.5
- -------------------------------------------------------------------
Ireland 0.8
- -------------------------------------------------------------------
Israel 1.5
- -------------------------------------------------------------------
Italy 1.4
- -------------------------------------------------------------------
Japan 20.2
- -------------------------------------------------------------------
Luxembourg 2.3
- -------------------------------------------------------------------
Mexico 2.0
- -------------------------------------------------------------------
Netherlands 3.6
- -------------------------------------------------------------------
South Africa 0.9
- -------------------------------------------------------------------
South Korea 0.9
- -------------------------------------------------------------------
Spain 1.6
- -------------------------------------------------------------------
Sweden 2.4
- -------------------------------------------------------------------
Switzerland 10.7
- -------------------------------------------------------------------
United Kingdom 13.7
- -------------------------------------------------------------------
Short-Term Investments 20.3
- -------------------------------------------------------------------
Other Assets & Liabilities -17.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
48
The Hartford International Opportunities Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
INTERNATIONAL OPPORTUNITIES MSCI AC WORLD FREE EX US INDEX
--------------------------- ------------------------------
7/22/96 9450 10000
9469 9668
9507 9724
9658 9966
10/96 9686 9866
10131 10246
10220 10128
10114 9942
10172 10124
10172 10103
10115 10188
10706 10817
11162 11414
11487 11645
10723 10729
11276 11309
10/97 10483 10346
10349 10217
10305 10335
10451 10644
11123 11354
11620 11746
11864 11830
11932 11616
11951 11572
12059 11682
10344 10035
10022 9823
10/98 10675 10852
11288 11435
11595 11829
11936 11816
11663 11552
12287 12109
12745 12715
12209 12118
12781 12675
13103 12972
13112 13017
13191 13105
10/99 13630 13593
14440 14136
16131 15485
15273 14644
16308 15040
16225 15606
15378 14735
14782 14358
15335 14969
14873 14378
15083 14556
14327 13749
10/00 13687 13312
13103 12715
13631 13149
13708 13346
12629 12289
11759 11421
12617 12197
12155 11861
11782 11406
11517 11152
11186 10875
10030 9721
10/01 10283 9994
10868 10451
11077 10585
10548 10132
10526 10205
11088 10802
11021 10829
11131 10947
10614 10474
9512 9454
9368 9454
8233 8452
10/02 8851 8906
9225 9334
8839 9033
8432 8716
8167 8539
7991 8373
8718 9180
9214 9765
9346 10036
9622 10302
9964 10609
10019 10907
10/03 10647 11613
10867 11866
11621 12772
11754 12978
12041 13308
12107 13390
11765 12974
11854 13004
12151 13298
11578 12911
11578 13014
11931 13433
10/04 12372 13900
13133 14865
13630 15503
13332 15236
13784 15987
13443 15554
13188 15170
13254 15265
13519 15552
14181 16126
14555 16539
15085 17392
10/05 14478 16759
</Table>
<Table>
--- INTERNATIONAL OPPORTUNITIES --- MSCI AC WORLD FREE EX U.S. INDEX
$9,450 starting value $10,000 starting value
$14,478 ending value $16,759 ending value
</Table>
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------
Int'l Opp
A#......... 7/22/1996 17.02% 1.13% 4.70%
- -----------------------------------------------------------
Int'l Opp
A##........ 7/22/1996 10.62% -0.01% 4.07%
- -----------------------------------------------------------
Int'l Opp
B#......... 7/22/1996 16.07% 0.36% NA*
- -----------------------------------------------------------
Int'l Opp
B##........ 7/22/1996 11.07% -0.02% NA*
- -----------------------------------------------------------
Int'l Opp
C#......... 7/22/1996 16.08% 0.33% 3.92%
- -----------------------------------------------------------
Int'l Opp
C##........ 7/22/1996 15.08% 0.33% 3.92%
- -----------------------------------------------------------
Int'l Opp
Y#......... 7/22/1996 17.52% 1.59% 5.17%
- -----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Class B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) 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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGEMENT
TROND SKRAMSTAD
Senior Vice President, Partner, Director of Global Equity
<Table>
NICOLAS M. CHOUMENKOVITCH GAVIN MA
Vice President Vice President
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford International Opportunities Fund Class A, before sales charge,
posted strong absolute returns of 17.02% for the year ended October 31, 2005.
The Fund outpaced the 16.8% average return for the Lipper International Core
Funds peer group, but lagged the MSCI All-Country World Free ex-US Index, which
returned 20.57%.
WHY DID THE FUND PERFORM THIS WAY?
Energy stocks, driven by persisting global supply demand imbalances, were the
primary contributor to the Fund's absolute and relative returns during the
period. The Fund held an overweight position in the sector, and benefited from
the performance of specific stocks such as Talisman Energy and Petro-Canada.
Stock selection in Consumer Staples also contributed to relative results, driven
by the performance of Japan Tobacco. Japan Tobacco's shares rose in response to
strong international tobacco results, domestic cost cutting, and attractive new
drugs emerging in its pharmaceutical business.
Offsetting strength in above areas was relatively weaker stock selection in
Health Care, Information Technology, and Consumer Discretionary. The Fund's
holding in Irish pharmaceutical company Elan was the largest detractor from
relative performance. The Fund held a position in Elan for its promising new
multiple sclerosis drug, Tysabri, but Elan shares plunged in February 2005 after
two patient deaths were reported. The Fund has exited its position in Elan. The
Fund's holding in Deutsche Telekom also held back relative results, as the
company experienced moderating growth in its wireless business.
WHAT IS THE OUTLOOK?
The Fund will continue to apply a three-pronged strategy that considers
fundamental company analysis as well as the attractiveness of countries and
sectors. European equities represented that largest geographical position in the
Fund at the end of the period. European companies have successfully restructured
their businesses and balance sheets so that corporate profitability is back to
the peak levels of 2000. The macro environment has some uncertainties such as
slow growth, employment trends, political turmoil, and demographic pressures,
but we believe the Fund can unlock relative value in European stocks,
particularly in Media and Information Technology. The outlook for the Japanese
market appears promising as economic, deregulation, and structural reform trends
are all positive. From a sector standpoint, the Fund ended the period overweight
Health Care and Consumer Staples and underweight Financials, Industrials, and
Materials.
49
- --------------------------------------------------------------------------------
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 2.0%
- -------------------------------------------------------------------
Austria 0.8
- -------------------------------------------------------------------
Brazil 1.3
- -------------------------------------------------------------------
Canada 5.6
- -------------------------------------------------------------------
Denmark 1.0
- -------------------------------------------------------------------
France 11.6
- -------------------------------------------------------------------
Germany 3.3
- -------------------------------------------------------------------
Greece 0.6
- -------------------------------------------------------------------
Hong Kong 1.7
- -------------------------------------------------------------------
Hungary 0.2
- -------------------------------------------------------------------
India 0.7
- -------------------------------------------------------------------
Ireland 0.9
- -------------------------------------------------------------------
Italy 1.5
- -------------------------------------------------------------------
Japan 19.5
- -------------------------------------------------------------------
Mexico 0.8
- -------------------------------------------------------------------
Netherlands 3.7
- -------------------------------------------------------------------
Russia 1.9
- -------------------------------------------------------------------
South Korea 1.7
- -------------------------------------------------------------------
Spain 2.1
- -------------------------------------------------------------------
Sweden 0.9
- -------------------------------------------------------------------
Switzerland 10.4
- -------------------------------------------------------------------
Taiwan 3.5
- -------------------------------------------------------------------
United Kingdom 14.7
- -------------------------------------------------------------------
United States 1.4
- -------------------------------------------------------------------
Short-Term Investments 24.3
- -------------------------------------------------------------------
Other Assets & Liabilities -16.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 7.5%
- -------------------------------------------------------------------
Capital Goods 1.7
- -------------------------------------------------------------------
Consumer Cyclical 7.0
- -------------------------------------------------------------------
Consumer Staples 11.7
- -------------------------------------------------------------------
Energy 8.7
- -------------------------------------------------------------------
Finance 18.8
- -------------------------------------------------------------------
Health Care 9.7
- -------------------------------------------------------------------
Services 3.8
- -------------------------------------------------------------------
Technology 16.7
- -------------------------------------------------------------------
Transportation 4.1
- -------------------------------------------------------------------
Utilities 2.1
- -------------------------------------------------------------------
Short-Term Investments 24.3
- -------------------------------------------------------------------
Other Assets & Liabilities -16.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
50
The Hartford International Small Company Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 4/30/01 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
S&P/CITIGROUP EURO-PACIFIC EXTENDED
INTERNATIONAL SMALL CO FUND MARKET INDEX
--------------------------- -----------------------------------
4/30/01 9450 10000
9781 9952
9205 9582
9044 9331
9044 9324
7825 8117
10/01 8335 8459
8901 8765
8713 8753
8580 8532
8561 8699
8968 9265
9346 9459
9619 9800
9506 9460
8920 8645
8713 8573
7833 7778
10/02 7909 7921
8155 8215
8331 8081
8142 7877
8123 7741
8094 7691
9098 8457
9827 9166
9960 9477
10357 9799
10869 10243
11570 10727
10/03 12242 11488
12323 11657
12886 12358
13211 12824
13555 13223
14022 13567
13758 13220
13454 13223
13850 13688
13109 13139
12997 13243
13179 13638
10/04 13635 14063
14382 15163
14973 15914
15337 16138
15747 16870
15292 16518
14802 16041
14916 16118
15291 16424
15904 17019
16222 17507
16631 18167
10/05 16210 17637
</Table>
<Table>
--- INTERNATIONAL SMALL CO FUND --- S&P/CITIGROUP EURO-PACIFIC
$9,450 starting value EXTENDED MARKET INDEX
$16,210 ending value $10,000 starting value
$17,637 ending value
</Table>
S&P/CITIGROUP EURO-PACIFIC EXTENDED MARKET INDEX is a global equity index
comprised of the smallest 20% of each country's market capitalization in the
Broad Market Index. All developed countries are included except the US and
Canada.
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.
PORTFOLIO MANAGER
EDWARD L. MAKIN
Vice President
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- -------------------------------------------------------
Int'l Small Co A# 4/30/2001 18.90% 12.71%
- -------------------------------------------------------
Int'l Small Co A## 4/30/2001 12.38% 11.31%
- -------------------------------------------------------
Int'l Small Co B# 4/30/2001 17.96% 12.09%
- -------------------------------------------------------
Int'l Small Co B## 4/30/2001 12.96% 11.79%
- -------------------------------------------------------
Int'l Small Co C# 4/30/2001 17.96% 11.89%
- -------------------------------------------------------
Int'l Small Co C## 4/30/2001 16.96% 11.89%
- -------------------------------------------------------
Int'l Small Co Y# 4/30/2001 19.40% 13.20%
- -------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford International Small Company Fund Class A, before sales charge,
returned 18.90%, for the twelve-month period ended October 31, 2005. The Fund
underperformed both the 25.41% return of the benchmark, the S&P/Citigroup Euro
Pacific EMI Index, and the 21.59% return for the Lipper International Small/ Mid
Cap Core average during the twelve-month period.
WHY DID THE FUND PERFORM THIS WAY?
During the twelve-month period, international small cap equity markets advanced,
with small cap stocks outperforming large cap stocks. All ten sectors within the
benchmark advanced during the period, led by Energy, Financials and Industrials.
Consumer Discretionary posted more modest gains.
Though absolute returns remain strong, relative returns continue to be
challenged by our contrarian, bottom-up approach within this momentum-driven
market environment. It is consistent with our investment style to exhibit
stronger relative returns in more "rational" markets where solid company
fundamentals are rewarded. In momentum-driven markets such as the current one,
our style tends to lag the benchmark because our fundamental analysis will
direct us away from holding many "high flyers" that have valuations beyond what
we believe earnings growth can justify in the long run. Our approach will lead
to a more defensive posture in such markets, which is where we find ourselves
today.
The top contributors to performance during the period were Alstrom (France),
Daewoo Securities (Korea), and Industrial Bank of Korea (Korea). Alstrom
benefited from its recent restructuring efforts and additional contracts for its
construction infrastructure services. Also contributing to the Funds performance
was Daewoo Securities, a financial services company, which benefited from
regulatory changes in the South Korean investment industry, and Industrial Bank
of Korea, whose shares gained as the Korean retail bank grew profits through
increased lending amid the recovering Korean economy.
Another positive contributor to performance during the twelve-months ended
October 31, 2005 was the Fund's foreign currency hedging strategy. In
particular, our hedging of exposure to Euros and Pound Sterling added to
relative performance. We ended the period with approximately 10% of the Fund
hedged.
Stock selection relative to the benchmark was weakest within the Information
Technology and Consumer Discretionary sectors and more specifically, the
Software and Services and Media industries. Software and services stocks Obic, a
Japanese technology services company, and SurfControl, a British internet
security company, were two of the largest detractors from relative performance.
Media stocks M6-Metropole TV (France), Wolters Kluwer (Netherlands) and GCAP
Media (United Kingdom), also detracted. The stock that detracted the most from
performance on an absolute and relative basis was Sorin, an Italian manufacturer
of medical products.
51
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
The international small cap asset class has had tremendous performance over the
past three years, posting average returns in excess of 35% per annum. To use a
baseball analogy, we have felt for some time (and continue to believe) that
several areas within the international small cap space have been in the late
innings of an overextended rally. In fact, it feels more and more like we are in
the extra innings! The majority of our holdings are companies that have lagged
the market of late but which we feel are poised for strong performance going
forward. Put another way, we feel as though international small cap equities are
relatively expensive, and that the vast majority of the Fund consists of
relatively cheap, solid growth companies that should thrive despite a slowing
global economic environment. We have conviction in our process and believe that
our contrarian view should outperform the benchmark and many of our peers in the
long run.
We are disappointed by our relative performance for the reasons outlined above.
As we head out of this momentum-driven environment and into a different
"ballgame" where quality companies are rewarded for earnings growth and solid
cash flow, we believe our contrarian approach will have a favorable impact on
relative performance. We are enthusiastic about the Fund's holdings, our
approach, and team.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 13.4%
- -------------------------------------------------------------------
Capital Goods 8.2
- -------------------------------------------------------------------
Consumer Cyclical 10.0
- -------------------------------------------------------------------
Consumer Staples 5.5
- -------------------------------------------------------------------
Energy 2.7
- -------------------------------------------------------------------
Finance 16.9
- -------------------------------------------------------------------
Health Care 11.8
- -------------------------------------------------------------------
Services 14.5
- -------------------------------------------------------------------
Technology 9.4
- -------------------------------------------------------------------
Transportation 2.6
- -------------------------------------------------------------------
Utilities 1.0
- -------------------------------------------------------------------
Short-Term Investments 22.3
- -------------------------------------------------------------------
Other Assets & Liabilities -18.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- --------------------------------------------------------------------
Australia 4.9%
- --------------------------------------------------------------------
Brazil 1.0
- --------------------------------------------------------------------
China 1.7
- --------------------------------------------------------------------
Denmark 1.8
- --------------------------------------------------------------------
Finland 0.9
- --------------------------------------------------------------------
France 8.1
- --------------------------------------------------------------------
Germany 5.9
- --------------------------------------------------------------------
Greece 1.0
- --------------------------------------------------------------------
Hong Kong 0.0
- --------------------------------------------------------------------
India 0.7
- --------------------------------------------------------------------
Italy 4.3
- --------------------------------------------------------------------
Japan 28.0
- --------------------------------------------------------------------
Liechtenstein 0.6
- --------------------------------------------------------------------
Malaysia 1.9
- --------------------------------------------------------------------
Netherlands 4.0
- --------------------------------------------------------------------
South Africa 1.3
- --------------------------------------------------------------------
South Korea 0.7
- --------------------------------------------------------------------
Sweden 2.1
- --------------------------------------------------------------------
Switzerland 3.7
- --------------------------------------------------------------------
Thailand 1.6
- --------------------------------------------------------------------
United Kingdom 21.8
- --------------------------------------------------------------------
Short-Term Investments 22.3
- --------------------------------------------------------------------
Other Assets & Liabilities -18.3
- --------------------------------------------------------------------
TOTAL 100.0%
- --------------------------------------------------------------------
</Table>
52
The Hartford MidCap Fund*
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 12/31/97 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
MIDCAP FUND S & P MIDCAP 400 INDEX
----------- ----------------------
12/31/97 9450 10000
9148 9810
9980 10622
10453 11101
10680 11303
10302 10795
10860 10863
10680 10442
8590 8500
9120 9293
10/98 9877 10123
10492 10628
11637 11911
11921 11448
11391 10849
12356 11152
13293 12031
13454 12084
14375 12731
13969 12460
13770 12033
13467 11662
10/99 14254 12257
15011 12900
17478 13666
17429 13281
20152 14210
21381 15399
20103 14861
19051 14676
20956 14892
21130 15127
23379 16815
23084 16701
10/00 22809 16134
20264 14917
21824 16058
22136 16416
20866 15480
19104 14330
20898 15911
21243 16282
21165 16217
20707 15975
19726 15453
17373 13531
10/01 18488 14130
19995 15182
20808 15965
20430 15883
20552 15902
21691 17039
21411 16960
21522 16674
20173 15453
18065 13954
17976 14025
16448 12895
10/02 17297 13453
18871 14232
17688 13647
17442 13249
17285 12933
17420 13042
18838 13989
20400 15149
20522 15342
20701 15886
21649 16607
21192 16353
10/03 22966 17589
23390 18202
24027 18509
24575 18910
24798 19364
24664 19446
23983 18808
24307 19198
24876 19635
23660 18719
23615 18670
24708 19223
10/04 25232 19530
26763 20693
27858 21560
27345 21010
28018 21714
27609 21474
26662 20639
28190 21882
29205 22390
30446 23566
29956 23303
30468 23482
10/05 29990 22978
</Table>
<Table>
--- MIDCAP FUND --- S & P MIDCAP 400 INDEX
$9,450 starting value $10,000 starting value
$29,990 ending value $22,978 ending value
</Table>
S&P MIDCAP 400 INDEX is an unmanaged index measuring the performance of the
mid-size company segment of the U.S. market.
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.
PORTFOLIO MANAGER
PHILLIP H. PERELMUTER
Senior Vice President, Partner
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ------------------------------------------------------------
MidCap A# 12/31/1997 18.85% 5.62% 15.85%
- ------------------------------------------------------------
MidCap A## 12/31/1997 12.29% 4.44% 15.02%
- ------------------------------------------------------------
MidCap B# 12/31/1997 17.92% 4.85% 15.02%
- ------------------------------------------------------------
MidCap B## 12/31/1997 12.92% 4.51% 15.02%
- ------------------------------------------------------------
MidCap C# 12/31/1997 18.07% 4.92% 15.08%
- ------------------------------------------------------------
MidCap C## 12/31/1997 17.07% 4.92% 15.08%
- ------------------------------------------------------------
MidCap Y# 12/31/1997 19.40% 6.16% 16.41%
- ------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
* The Hartford MidCap Fund was 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.
The fund will continue to offer and sell share: (1) through
ACH and other similar systematic investment facilities to
investors who establish plans to invest through such
facilities prior to August 16, 2004, (2) for reinvestment of
capital gains distributions and income dividends, and (3) to
certain qualified retirement plans that included (or
offered) the fund as an investment option prior to August
16, 2004.
The fund continues to pay 12b-1 fees. These fees are paid
for ongoing shareholder services, to compensate brokers for
past sales and to reimburse the fund's distributor for
commissions paid in connection with past sales.
(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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford MidCap Fund Class A, before sales charge, returned 18.85% for the
twelve-month period ended October 31, 2005, outperforming the S&P Mid Cap 400
Index return of 17.65% and the Lipper Mid-Cap Core Average return of 14.91%.
WHY DID THE FUND PERFORM THIS WAY?
The twelve months ended October 31, 2005 were subject to significant volatility.
2004 ended on a positive note as markets rallied during the traditionally strong
fourth quarter. Rising oil prices, the Federal Reserve's ongoing interest rate
increases, and inflation concerns began to take their toll during the first part
of 2005, and investors pushed stocks lower through April. Markets reversed
course over the summer as corporate earnings strength continued despite rising
interest rates and input costs. The fiscal year closed on a weak note, as
markets fell in October.
Positive contribution to Fund performance came from an overweight to the Energy
sector as well as favorable stock selection within Energy and Industrials.
Continued growth in global demand for energy, as well as limited capacity to
increase supply, helped energy markets reach new highs. Chesapeake Energy and
EOG Resources rose sharply in concert with a hurricane-induced, extended spike
in the price of natural gas. Other strong performing energy names include
refiner Premor, uranium producer Cameco, and Valero Energy. Noteworthy
performers within the Industrials sector included cockpit controls manufacturer
Rockwell Collins, and engine components maker Precision Castparts, which rose in
conjunction with improving trends for the aerospace industry.
Negative contribution to Fund performance came mostly from stock selection in
the Health Care sector. Within Health Care, several biotechnology stocks
detracted from relative performance, including Elan, Millennium Pharmaceuticals
and OSI Pharmaceuticals. Elan, the largest twelve-month detractor from relative
performance, suffered a steep decline after its much-heralded multiple sclerosis
drug Tysabri was associated with patient deaths. Millennium Pharmaceuticals also
fell as it reported sluggish Velcade sales and was threatened by a newer,
competitive drug for the treatment of multiple myeloma.
53
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
Economic activity has shown signs of reviving, notably outside of the US. The
marked increase in global energy prices in the aftermath of the destructive US
hurricane season raises questions about the sustainability of this upswing near
term. Consumers in the US have been especially hard hit, as they face a marked
increase in short-term interest rates in addition to high energy prices.
As of the end of the period, the Fund was overweight the Consumer Discretionary,
Energy, Health Care and Telecommunication Services sectors and underweight the
Utilities, Consumer Staples and Financials sectors.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
NET ASSETS
INDUSTRY -------------
- -------------------------------------------------------------------
Basic Materials 3.8%
- -------------------------------------------------------------------
Consumer Cyclical 17.5
- -------------------------------------------------------------------
Energy 8.3
- -------------------------------------------------------------------
Finance 17.8
- -------------------------------------------------------------------
Health Care 11.5
- -------------------------------------------------------------------
Services 16.2
- -------------------------------------------------------------------
Technology 17.4
- -------------------------------------------------------------------
Transportation 0.8
- -------------------------------------------------------------------
Utilities 4.1
- -------------------------------------------------------------------
Short-Term Investments 12.8
- -------------------------------------------------------------------
Other Assets & Liabilities -10.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
54
The Hartford MidCap Value Fund*
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 4/30/01 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
MIDCAP VALUE FUND RUSSELL 2500 VALUE INDEX
----------------- ------------------------
4/30/01 9450 10000
9507 10307
9535 10406
9375 10336
9092 10247
7816 9110
10/01 8015 9305
8686 10021
9385 10592
9422 10689
9593 10822
10123 11492
10123 11689
9943 11497
9414 11091
8431 9808
8422 9861
7524 9054
10/02 7883 9184
8526 9853
8119 9546
7940 9258
7760 9030
7713 9092
8431 9916
9215 10833
9319 11027
9631 11506
10075 11968
10028 11883
10/03 10699 12791
11077 13313
11568 13836
11748 14285
11993 14575
11964 14691
11540 13921
11757 14201
12229 14765
11700 14170
11501 14348
11917 14802
10/04 12182 15070
12865 16303
13366 16821
12866 16279
13406 16686
13233 16463
12570 15847
13234 16726
13540 17339
14142 18268
14111 17936
14039 17955
10/05 13559 17426
</Table>
<Table>
--- MIDCAP VALUE FUND --- RUSSELL 2500 VALUE INDEX
$9,450 starting value $10,000 starting value
$13,559 ending value $17,426 ending value
</Table>
RUSSELL 2500 VALUE INDEX measures the performance of those Russell 2500 Index
companies with lower price-to-book ratios and lower forecasted growth values.
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.
PORTFOLIO MANAGER
JAMES N. MORDY
Senior Vice President, Partner
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- -----------------------------------------------------
MidCap Value A# 4/30/2001 11.31% 8.33%
- -----------------------------------------------------
MidCap Value A## 4/30/2001 5.19% 6.99%
- -----------------------------------------------------
MidCap Value B# 4/30/2001 10.40% 7.57%
- -----------------------------------------------------
MidCap Value B## 4/30/2001 5.40% 7.23%
- -----------------------------------------------------
MidCap Value C# 4/30/2001 10.40% 7.57%
- -----------------------------------------------------
MidCap Value C## 4/30/2001 9.40% 7.57%
- -----------------------------------------------------
MidCap Value Y# 4/30/2001 11.76% 8.84%
- -----------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* As of August 16, 2004, the fund no longer offers Class A, B
and C shares except as follows. The fund will continue to
offer and sell shares: (1) through ACH and other similar
systematic investment facilities to investors who established
plans to invest through such facilities prior to August 16,
2004 and (2) for reinvestment of capital gains distributions
and income dividends.
The fund continues to pay 12b-1 fees. These fees are paid for
ongoing shareholder services, to compensate brokers for past
sales and to reimburse the fund's distributor for commissions
paid in connection with past sales.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford MidCap Value
Fund Class A, before sales charge, returned 11.31% trailing both the Russell
2500 Value Index return of 15.65% and the Lipper Mid Cap Value peer group return
of 14.51%.
WHY DID THE FUND PERFORM THIS WAY?
During the period, U.S. equities posted positive returns supporting the Fund's
positive, absolute return. Mid and small cap stocks outperformed larger cap
stocks during the period. Value stocks continued to outperform growth during the
period, driven by the relative strength of sectors like Energy, Consumer Staples
and Utilities.
The Fund's underperformance relative to the benchmark was due primarily to weak
stock selection within Materials, Industrials, Information Technology and
Consumer Discretionary.
Within Materials, Smurfit-Stone Container was a significant detractor from
performance on absolute basis. The company's earnings came under pressure as a
result of a larger than expected downtime to address inventories. Additionally,
fiber costs were abnormally high due to wet weather which impeded collection.
Market conditions have demonstrated seasonal improvement and with capacity
balanced, price improvement should be forthcoming. Within Industrials, GrafTech
International was the largest detractor on an absolute basis. The company's
attempts to raise pricing appear to have cost them market share for 2005 but we
believe their further attempts to raise prices in 2006 will be more successful.
We owned both stocks at the end of the period.
Our overweight position within Information Technology reflected our desire to
buy into weakness in semiconductor and semiconductor capital equipment stocks.
The stocks declined much more than we anticipated during the first half of the
fiscal year as excess inventories were wrung out of the industry, but we held
on, and since April the stocks have outperformed. Among our detractors in this
group was Teradyne, which suffered from a number of secular headwinds. They are
taking aggressive actions to reduce their cost structure and we believe that the
recent rebound in their order levels is encouraging. We held onto the position
at the end of the period. Other significant detractors within Information
Technology included technology hardware and equipment companies Vishay
Intertechnology, SeaGate Technology and Tektronix. SeaGate sold off when Apple
Computer announced that they were replacing the disk drives in their low end
music player with semiconductor memory. While this has clearly had a negative
impact on near term prospects, we think there are enough other growing consumer
applications for disk drives to support reasonably healthy growth for the drive
industry. All of these stocks were held in the portfolio at the end of the
period.
55
- --------------------------------------------------------------------------------
Consumer Discretionary stocks lagged during the period due to a combination of
higher energy prices and rising interest rates that have squeezed U.S. middle
income households. Foot Locker, our largest detractor within the sector,
declined on weakness in European sales. Other detractors included CBRL Group,
Rent-A-Center and Ruby Tuesday. We eliminated Rent-A-Center, as management has
no apparent strategy to reinvigorate sales and economic pressures continue to
mount on their low-income customers.
Partially offsetting the Fund's under performance was strong stock selection
within Energy, Financials, Utilities, Consumer Staples, and Health Care. On an
absolute basis, among the top contributors to returns were: Coventry Health Care
(Health Care), which continues to demonstrate strong fundamentals, CB Richard
Ellis Group (Financials), which gives us some exposure to an upturn in the
commercial real estate cycle at a more reasonable valuation than the office
REITs (Real Estate Investment Trusts), and Barr Pharmaceuticals (Health Care),
which advanced on favorable product developments. All stocks were held as of the
end of the period.
WHAT IS THE OUTLOOK?
Throughout this year our largest overweight has been in the consumer
discretionary sector. We felt that a resilient consumer remained in better
financial health than was generally perceived, and that the macro pressures were
obvious enough that they were largely discounted in the stock market, creating
some relatively attractive values in groups like retail, restaurants, media and
even automotive suppliers. However, gasoline prices spiking to over $3 at the
pump were a real shock to many consumers. Measures of consumer confidence have
dropped significantly and inflation expectations have risen. While retail sales
have thus far held up better than we would have thought, and gasoline prices
have receded about 20% from peak levels, we have not yet felt the impact of
higher heating bills this winter, further Fed rate increases, new rules
requiring increased minimum monthly credit card payments, and a housing market
that we believe appears to be cooling off. For now we believe there is more bad
news to come which hasn't yet been fully recognized and we are trying to reduce
our exposure to retail stocks at the margin. We continue to take profits in the
energy sector. As we are already roughly double the Index weight in health care,
and don't see much value in most utilities, consumer staples and REITs, we have
looked to the industrial sector for several recent purchases.
At the end of the period, relative to the index, the Fund was overweight
Consumer Discretionary, Industrials, Health Care, Information Technology,
Materials, and Energy. The Fund was underweight Financials, Utilities and
Telecommunication Services and equal-weight Consumer Staples.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 13.5%
- -------------------------------------------------------------------
Capital Goods 5.3
- -------------------------------------------------------------------
Consumer Cyclical 14.0
- -------------------------------------------------------------------
Consumer Staples 3.6
- -------------------------------------------------------------------
Energy 3.1
- -------------------------------------------------------------------
Finance 21.1
- -------------------------------------------------------------------
Health Care 7.5
- -------------------------------------------------------------------
Services 5.7
- -------------------------------------------------------------------
Technology 18.4
- -------------------------------------------------------------------
Transportation 2.9
- -------------------------------------------------------------------
Utilities 4.2
- -------------------------------------------------------------------
Short-Term Investments 3.1
- -------------------------------------------------------------------
Other Assets & Liabilities -2.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
56
The Hartford Retirement Income Fund
(sub-advised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS CURRENT INCOME AND SECONDARILY, CAPITAL
PRESERVATION.
PERFORMANCE OVERVIEW(2) 9/30/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
RETIREMENT INCOME FUND S&P 500 INDEX AGGREGATE BOND INDEX
---------------------- ------------- --------------------
9/30/05 9450 10000 10000
10/05 9336 9833 9921
</Table>
<Table>
--- RETIREMENT INCOME FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$9,336 ending value $10,000 starting value $9,833 ending value
$9,921 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from an affiliate of the investment adviser, without
which performance would have been lower. For information on current expense
waivers/reimbursements, please see the prospectus.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ---------------------------------------------------
Retirement Income A# 9/30/2005 -1.22%
- ---------------------------------------------------
Retirement Income A## 9/30/2005 -6.64%
- ---------------------------------------------------
Retirement Income B# 9/30/2005 -1.29%
- ---------------------------------------------------
Retirement Income B## 9/30/2005 -6.22%
- ---------------------------------------------------
Retirement Income C# 9/30/2005 -1.29%
- ---------------------------------------------------
Retirement Income C## 9/30/2005 -2.28%
- ---------------------------------------------------
Retirement Income Y# 9/30/2005 -1.30%
- ---------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Retirement Income Fund faced challenging conditions in its first
month and Class A shares, before sales charge, returned -1.22%. In October of
2005, the financial markets struggled and most major indices finished the month
with a loss. Rising interest rates and inflation worries sent the broad fixed
income markets down, declining 0.79% as measured by the Lehman Brothers
Aggregate Bond Index. Despite generally solid earnings reports, equities
similarly declined. The S&P 500 Index, a common benchmark for U.S. equities,
lost 1.67% for the month. The appreciating dollar contributed to an even greater
drop by foreign equities. The MSCI EAFE Index lost 2.91% for the month.
WHY DID THE FUND PERFORM THIS WAY?
The fixed income component of the Fund is structured around six fixed income
indices. Over the one month since the Fund's inception, the Credit Suisse First
Boston (CSFB) Leveraged Loan Index was the top performer (up 0.32%), followed by
the Merrill Lynch 3-Month U.S. Treasury Bill Index (up 0.26%), the Lehman
Brothers 1-3 Year Government Index (down 0.03%), the Lehman Brothers High Yield
Index (down 0.70%), the Lehman Aggregate Bond Index (down 0.79%), and finally
the Lehman U.S. TIPS Index (down 1.28%). During the month, the Fund's exposure
to the bank loan asset class was one of the greatest contributors to performance
relative to the benchmark. The exposure to money market instruments and
short-term bonds also contributed to excess return. However, the allocation to
Treasury Inflation-Protected securities detracted from performance. To increase
the likelihood that it will be able to maintain value and provide income over an
extended period of time (potentially one or more decades), the Fund has a modest
allocation to equities. This equity component of the Fund is structured around
five equity indices. For the month, all five indices declined. The S&P 500/Barra
Growth Index (down 1.58%) was the best performer, followed by the S&P 500/Barra
Value Index (down 1.75%), the S&P Midcap 400 Index (down 2.15%), the MSCI EAFE
Index (down 2.91%), and finally the Russell 2000 Index (down 3.10%). Midcap and
foreign equities were included in the portfolio due to their diversification
benefits and their potential for greater long-term return. However, this month
these more volatile styles were out of favor and therefore their exposure
detracted from the Fund's performance.
57
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. We will be
monitoring the growth of the economy and the condition of the financial markets.
While we intend to stay within a limited range about our target asset class
ranges, we will make incremental changes to asset class and individual fund
allocations according to our outlook and the Fund's objective to provide income
for retirees.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 1.3%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 0.9
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 6.5
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 1.3
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 1.3
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 1.3
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 1.3
- -------------------------------------------------------------------
Hartford Select Midcap Growth, Class Y 1.3
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 7.8
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 9.0
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 0.9
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 2.6
- -------------------------------------------------------------------
Other Assets and Liabilities 54.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
58
The Hartford Select MidCap Growth Fund
(subadvised by: Chartwell Investment Partners, L.P.
Goldman Sachs Asset Management, L.P.
Northern Capital Management, LLC)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 1/1/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SELECT MIDCAP GROWTH FUND RUSSELL MIDCAP GROWTH INDEX
------------------------- ---------------------------
1/1/05 9450 10000
1/05 9168 9732
2/05 9272 9978
3/05 9150 9833
4/05 8718 9443
5/05 9168 9984
6/05 9290 10170
7/05 9779 10763
8/05 9732 10698
9/05 9827 10836
10/05 9521 10517
</Table>
<Table>
--- SELECT MIDCAP GROWTH FUND --- RUSSELL MIDCAP GROWTH INDEX
$9,450 starting value $10,000 starting value
$9,521 ending value $10,517 ending value
</Table>
RUSSELL MIDCAP GROWTH INDEX is an unmanaged index measuring the performance of
the mid-size company segment of the U.S. market.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- -------------------------------------------------
Select MidCap Gro A# 1/1/2005 0.80%
- -------------------------------------------------
Select MidCap Gro A## 1/1/2005 -4.79%
- -------------------------------------------------
Select MidCap Gro B# 1/1/2005 0.20%
- -------------------------------------------------
Select MidCap Gro B## 1/1/2005 -4.80%
- -------------------------------------------------
Select MidCap Gro C# 1/1/2005 0.20%
- -------------------------------------------------
Select MidCap Gro C## 1/1/2005 -0.80%
- -------------------------------------------------
Select MidCap Gro Y# 1/1/2005 1.09%
- -------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
<Table>
CHARTWELL INVESTMENT PARTNERS, L.P. GOLDMAN SACHS ASSET MANAGEMENT, L.P. NORTHERN CAPITAL MANAGEMENT, LLC
Herbert E. Ehlers,
Edward N. Antoian, Managing Director and Chief Investment Daniel T. Murphy,
Senior Portfolio Manager Officer President and Chief Investment Officer
David G. Shell, Brian A. Hellmer,
Mark J. Cunneen, Managing Director and Chief Investment Senior Vice President and Director of
Senior Portfolio Manager Officer Research
Steven M. Barry,
Managing Director and Chief Investment
Officer
Gregory H. Ekizian,
Managing Director and Chief Investment
Officer
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Select MidCap Growth Fund Class A, before sales charge, returned
0.80% for the period of January 1, 2005 through October 31, 2005. The Fund
underperformed the Russell Mid-Cap Growth Index, which returned 5.18% for the
same period and the Lipper MidCap Growth peer Average, which returned 3.64%.
WHY DID THE FUND PERFORM THIS WAY?
For the period January 1, 2005, to October 31, 2005, mid cap stocks outperformed
both large and small caps as measured by the Russell benchmark categories and
value stocks outperformed growth. The best performing sectors within the index
were Energy, Utilities and Healthcare. Consumer Staples, Technology and Consumer
Services trailed significantly.
Overall, Healthcare was the largest detractor to relative performance. In
particular, Biogen Idec, Inc., Eyetech Pharmaceuticals, OSI Pharmaceuticals, and
Kinetic Concepts performed poorly. Shares of Biogen-Idec tumbled earlier this
year. Shares of Eyetech fell earlier in the year after a competitor released
impressive data on a new drug that will rival Eyetech's. In the third quarter,
Eyetech's shares rallied after OSI Pharmaceuticals announced plans to acquire
the company. Investors did not react well to OSI's action and the stock pulled
back, hurting performance. We believe OSI's drug Tarceva has a lot of promise
and could dominate the market in non-small-cell lung cancer and pancreatic
cancer. As a result, we continue to hold the stock. On the positive Healthcare
side, strong stock selection in Caremark, Omnicare, Covance and Invitrogen
helped relative fund performance.
59
- --------------------------------------------------------------------------------
Within Energy, increased global demand and rising commodity prices drove strong
performance in this group. Our holdings in McDermott International, and National
Oilwell Varco, and Chesapeake Energy contributed positively to performance.
However, the stock selection in Energy was offset by our underweighting in this
sector leading to overall underperformance compared to the benchmark. Within the
Consumer Services sector, weakness was concentrated in a small number of stocks
including First Marblehead and PETCO Animal Supplies. Both companies experienced
surprising weakness and deteriorating fundamentals during the period, which led
to a lack of investor confidence in their future growth and earnings outlook.
On a more positive note, we held a number of strong performing stocks and remain
encouraged about our positioning. Both SanDisk and Celgene gained over 100%
during the period. SanDisk is a leading supplier of flash data storage and
benefited by the introduction of the iPod nano while Celgene rose based on
positive drug pipeline developments. Cameco, a leading uranium producer, gained
over 40%. The company is uniquely positioned to benefit as consumers look for
alternative energy sources.
WHAT IS THE OUTLOOK?
We continue to believe that many of the Fund's holdings are trading at a
discount to the intrinsic value of the business. While we are disappointed with
the Fund's performance, we believe that the comparative opportunity within our
asset class, however, remains considerable. Mid-cap growth stocks have lagged
value stocks significantly in the last several years. We expect that the market
leadership is in the process of shifting to the more traditional growth sectors.
Despite our style being out of favor, we believe that the Fund is
well-positioned to take advantage of this opportunity.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.6%
- -------------------------------------------------------------------
Capital Goods 5.1
- -------------------------------------------------------------------
Consumer Cyclical 11.2
- -------------------------------------------------------------------
Consumer Staples 1.3
- -------------------------------------------------------------------
Energy 4.2
- -------------------------------------------------------------------
Finance 5.5
- -------------------------------------------------------------------
Health Care 15.0
- -------------------------------------------------------------------
Services 20.5
- -------------------------------------------------------------------
Technology 26.6
- -------------------------------------------------------------------
Transportation 3.2
- -------------------------------------------------------------------
Utilities 0.3
- -------------------------------------------------------------------
Short-Term Investments 3.9
- -------------------------------------------------------------------
Other Assets & Liabilities -0.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
60
The Hartford Select MidCap Value Fund
(subadvised by: Artisan Partners Limited Partnership
Cramer Rosenthal McGlynn, LLC
Sterling Capital Management, LLC)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(2) 4/29/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SELECT MIDCAP VALUE FUND RUSSELL MIDCAP VALUE INDEX
------------------------ --------------------------
4/29/05 9450 10000
5/05 9847 10413
6/05 10073 10754
7/05 10451 11266
8/05 10423 11178
9/05 10518 11330
10/05 10198 10983
</Table>
<Table>
--- SELECT MIDCAP VALUE FUND --- RUSSELL MIDCAP VALUE INDEX
$9,450 starting value $10,000 starting value
$10,198 ending value $10,983 ending value
</Table>
RUSSELL MIDCAP VALUE INDEX measures the performance of those Russell Midcap
companies with lower price-to-book ratios and lower forecasted growth rate.
These stocks are also members of the Russell 1000 Value Index.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- -------------------------------------------------
Select MidCap Val A# 4/29/2005 7.90%
- -------------------------------------------------
Select MidCap Val A## 4/29/2005 1.98%
- -------------------------------------------------
Select MidCap Val B# 4/29/2005 7.50%
- -------------------------------------------------
Select MidCap Val B## 4/29/2005 2.50%
- -------------------------------------------------
Select MidCap Val C# 4/29/2005 7.50%
- -------------------------------------------------
Select MidCap Val C## 4/29/2005 6.50%
- -------------------------------------------------
Select MidCap Val Y# 4/29/2005 8.10%
- -------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
<Table>
ARTISAN PARTNERS LIMITED PARTNERSHIP CRAMER ROSENTHAL MCGLYNN, LLC STERLING CAPITAL MANAGEMENT, LLC
James C. Kieffer, Jay B. Abramson, Eduardo Brea,
Managing Director President, Chief Investment Officer and Managing Director, Equity Portfolio Manager
Equity Portfolio Manager
Scott C. Satterwhite, Brian Walton,
Managing Director Robert Rewey III, CFA, Managing Director, Equity Portfolio Manager
Vice President, Equity Portfolio Manager and
Senior Research Analyst Patrick Rau,
Director and Principal, Equity Portfolio
Manager
Timothy Beyer,
Director and Principal, Equity Portfolio
Manager
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Select MidCap Value Fund Class A, before sales charge, returned
7.90% for the period April 29, 2005 through October 31, 2005. The Russell
Mid-Cap Value Index returned 9.83% during the same period and the Lipper MidCap
Core Average, which returned 10.04%.
WHY DID THE FUND PERFORM THIS WAY?
For the period April 29, 2005, to October 31, 2005, mid cap stocks outperformed
large and underperformed small caps as measured by the Russell benchmark
categories. In addition, mid cap growth stocks outperformed mid cap value. The
best performing sectors within the index were Energy, Health Care and
Technology. Materials and Consumer Discretionary, while posting positive
results, were the laggards.
The Financial Services sector was our top contributor to performance. In
particular, AON and E*Trade performed well. AON increased on the heels of strong
reported earnings. E*Trade shares surged as the company announced the purchase
of two companies, Harrisdirect and Browne & Co. E*Trade should realize financial
synergies from these market consolidating acquisitions. Strong stock selection
in Health Care sector also helped the Fund. King Pharmaceuticals shares
appreciated as high inventories began to stabilize, allowing sales to more
closely track prescriptions and earnings to exceed expectations. Omnicare gained
as the company
61
- --------------------------------------------------------------------------------
reached a definitive agreement to acquire, NeighborCare, the second largest
specialty pharmaceuticals distributor.
Negative contributions to performance came from the Consumer Discretionary and
Information Technology sectors. Within Consumer Discretionary, the large
detractors were Foot Locker and Leggett and Platt. Despite strong performance
from their U.S. stores, shares of Foot Locker fell as the company posted poor
sales results from its European division, due to the soft economy and
competitive pricing environment. Leggett & Platt, a manufacturer of metal
components for the furniture and automotive industries, declined due to weak
unit growth and increases in raw materials which led to reduced earnings
expectations. Shares of Lexmark International, a leading manufacturer of
computer printers and cartridges, dropped during the period as a result of a
reduction in its earnings outlook.
WHAT IS THE OUTLOOK
Looking forward, interest rates and energy prices continue to rise, potentially
weighing on the consumer and overall economy. We expect Energy and Utilities to
reverse some of their market outperformance in the coming fiscal year. We remain
focused on finding companies in which positive dynamics are not currently being
properly appraised by the markets.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.7%
- -------------------------------------------------------------------
Capital Goods 3.5
- -------------------------------------------------------------------
Consumer Cyclical 14.5
- -------------------------------------------------------------------
Consumer Staples 0.9
- -------------------------------------------------------------------
Energy 6.0
- -------------------------------------------------------------------
Finance 25.7
- -------------------------------------------------------------------
Health Care 4.3
- -------------------------------------------------------------------
Services 14.6
- -------------------------------------------------------------------
Technology 10.9
- -------------------------------------------------------------------
Transportation 3.6
- -------------------------------------------------------------------
Utilities 4.3
- -------------------------------------------------------------------
Short-Term Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 2.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
62
The Hartford Select SmallCap Growth Fund
(subadvised by: Jennison Associates LLC
Oberweis Asset Management, Inc.)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL
PERFORMANCE OVERVIEW(2) 9/30/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SELECT SMALLCAP GROWTH FUND RUSSELL 2000 GROWTH INDEX
--------------------------- -------------------------
9/30/05 9450 10000
10/31/05 9055 9630
</Table>
<Table>
--- SELECT SMALLCAP GROWTH FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$9,055 ending value $9,630 ending value
</Table>
RUSSELL GROWTH 2000 INDEX is an unmanaged index of those Russell 2000 Index
growth companies with higher price-to-book ratios and higher forecasted growth
values.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ---------------------------------------------------
Select SmallCap Gro A# 9/30/2005 -4.20%
- ---------------------------------------------------
Select SmallCap Gro A## 9/30/2005 -9.45%
- ---------------------------------------------------
Select SmallCap Gro B# 9/30/2005 -4.30%
- ---------------------------------------------------
Select SmallCap Gro B## 9/30/2005 -9.08%
- ---------------------------------------------------
Select SmallCap Gro C# 9/30/2005 -4.30%
- ---------------------------------------------------
Select SmallCap Gro C## 9/30/2005 -5.26%
- ---------------------------------------------------
Select SmallCap Gro Y# 9/30/2005 -4.20%
- ---------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
<Table>
JENNISON ASSOCIATES LLC OBERWEIS ASSET MANAGEMENT, INC.
John P. Mullman, CFA James W. Oberweis, CFA
Senior Portfolio Manager President, Portfolio Manager
Jason Swiatek, CFA
Portfolio Manager
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Select SmallCap Growth Fund Class A, before sales charge, returned
- -4.20% for the period September 30, 2005 through October 31, 2005. The Russell
2000 returned -3.70% for the same period and the Lipper Small Growth peer
Average, which returned -3.44%.
WHY DID THE FUND PERFORM THIS WAY?
For the one month period September 30, 2005, to October 31, 2005, the equity
markets were weak with negative returns across capitalizations and styles. Small
caps fared the worst and there was a value bias to performance based on the
Russell indices. The Russell 2000 Growth Index declined 3.70% in October and
nearly every sector in the benchmark and portfolio was negative. There was a
decided shift in market performance during the month with Energy and Utilities
under performing the most, after dominating returns for much of this year.
Financials and Industrials were the best performing sectors in the benchmark.
The portfolio slightly under performed its benchmark, the Russell(R) 2000
Growth, and due to the month only short time period, both positive and negative
performance was scattered among very different industries and sectors rather
than being present in one particular area.
On an absolute return basis, Merge Technologies (Consumer Cyclical) and
Broadwing Communications (Services) were the largest contributors to
performance. Merge Technologies, a global health care software and services
company, benefited from strong quarterly earnings and increased earnings
guidance. Shares of Broadwing Communications, an innovative provider of data,
voice and video solutions to carriers and large enterprises, made a steady climb
during the month helped mainly by the announcement of a new credit line, which
ensures adequate liquidity for the company as they continue to grow into
profitability. Its core asset is a nationwide all-optical backbone network,
which allows the company to provide long-haul service more quickly and at lower
costs. We believe that Broadwing is relatively well positioned as the low-cost
provider in the long-distance industry and that the company is ripe for a
takeout in the rapidly consolidating telecom industry.
On an individual stock basis, the weakest performer was Tekelec (Technology).
Tekelec engages in the design, manufacture,
63
- --------------------------------------------------------------------------------
marketing, and support of network signaling products, switching products and
services, and selected service applications for telecommunications networks and
contact centers. The stock weakened on rumors that one of their larger customers
might shift some of their business. The company also guided to lower gross
margins and the surprise resignation of the CEO, created additional negative
sentiment. Nevertheless, we believe that the company has an attractive valuation
relative to competitors and has several product cycles that will bear fruit in
the coming quarters and help accelerate revenue growth.
WHAT IS THE OUTLOOK?
Energy has clearly been the theme of 2005 to date, as it has significantly out
performed all other sectors. Crude oil rose from about $43/barrel at the
beginning of this year to a high of just over $70/barrel by the end of August,
back down to about $60/barrel at the end of October. This peak price was a
result of a feared constriction in supply associated with Hurricane Katrina. We
maintain a sizeable, but lower overweight in energy stocks -- both exploration
and production companies, as well as services, as we do not believe that it is
necessary for energy prices to move higher for the stocks to continue to rise.
As increasing cash flows accrue to energy producers, rising dividend payouts and
share repurchases should push the stocks higher. We also currently favor
companies with a high degree of operating leverage in their business model. With
overall modest revenue growth and increasing cost pressures, those companies
have the best opportunities to improve operating margins in the current
environment. We expect the pace of merger and acquitions activity, which has
increased, to continue in the future. Although many sectors will benefit from
consolidation, those most likely to see the greatest impact are in financial
services, telecom and technology. From a fundamental viewpoint, the signposts
appear encouraging. Earnings in the third quarter for the companies owned in our
portfolio have been generally strong. Valuations remain quite reasonable and we
believe that present conditions offer more-favorable-than-average investment
opportunities within our style.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 5.0%
- -------------------------------------------------------------------
Capital Goods 4.6
- -------------------------------------------------------------------
Consumer Cyclical 9.0
- -------------------------------------------------------------------
Consumer Staples 0.6
- -------------------------------------------------------------------
Energy 7.5
- -------------------------------------------------------------------
Finance 8.4
- -------------------------------------------------------------------
Health Care 17.1
- -------------------------------------------------------------------
Services 17.7
- -------------------------------------------------------------------
Technology 23.5
- -------------------------------------------------------------------
Transportation 2.3
- -------------------------------------------------------------------
Utilities 0.5
- -------------------------------------------------------------------
Short-Term Investments 2.8
- -------------------------------------------------------------------
Other Assets & Liabilities 1.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
64
The Hartford Short Duration Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE A HIGH LEVELOF INCOME.
PERFORMANCE OVERVIEW(2) 10/31/02 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS 1-5 YEAR U.S.
SHORT DURATION FUND GOVERNMENT/CREDIT INDEX
------------------- -----------------------------
10/31/02 9700 10000
9676 9987
9829 10145
9842 10151
9944 10244
9962 10263
10022 10312
10130 10430
10143 10441
10008 10295
10013 10300
10186 10473
10/03 10134 10405
10131 10406
10209 10485
10255 10527
10319 10609
10365 10667
10242 10495
10219 10468
10236 10482
10283 10542
10356 10663
10345 10663
10/04 10376 10713
10329 10638
10357 10680
10358 10676
10349 10636
10342 10610
10403 10695
10423 10757
10446 10787
10437 10731
10481 10824
10489 10770
10/05 10471 10744
</Table>
<Table>
--- SHORT DURATION FUND --- LEHMAN BROTHERS 1-5 YEAR U.S.
$9,700 starting value GOVERNMENT/CREDIT INDEX
$10,471 ending value $10,000 starting value
$10,744 ending value
</Table>
LEHMAN BROTHERS 1-5 YEAR U.S. GOVERNMENT/CREDIT INDEX is an unmanaged index
comprised of the U.S. Government/Credit component of the U.S. Aggregate Index.
The Government/Credit Index includes securities in the 1-5 year maturity range
in the Government and Credit Indices.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------------
Short Duration A# 10/31/2002 0.92% 2.59%
- --------------------------------------------------------
Short Duration A## 10/31/2002 -2.10% 1.55%
- --------------------------------------------------------
Short Duration B# 10/31/2002 0.17% 1.86%
- --------------------------------------------------------
Short Duration B## 10/31/2002 -4.72% 0.90%
- --------------------------------------------------------
Short Duration C# 10/31/2002 0.17% 1.86%
- --------------------------------------------------------
Short Duration C## 10/31/2002 -0.81% 1.86%
- --------------------------------------------------------
Short Duration Y# 11/28/2003 1.18% 1.97%
- --------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
ROBERT CRUSHA, CFA
Vice President
BRIAN DIRGINS, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Short Duration Fund
Class A had a total return, before sales charge, of 0.92%, versus the return of
1.09% for the Lipper Short Investment Grade Index and 0.29% for the Lehman
Brothers 1-5 year Gov/Credit Index. The primary objective of The Hartford Short
Duration Fund is to provide a high level of income. As of October 31, 2005, the
SEC yield for this Fund's Class A share was 3.05%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005 was an interesting one for the bond market as
short-term interest rates rose throughout the year. In contrast, for much of the
year, long-term rates declined due to strong demand from overseas. The result
was a significantly flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. Recently, however, the
destruction caused by Hurricanes Katrina and Rita and historically high energy
prices introduced fears of inflation, and a weakening economy, into the
financial markets. During the last several months of the fiscal year, long-term
bonds began to rise and below-investment grade bonds fell out of favor.
Accordingly, over the last three months, most fixed income indices experienced
losses, with longer maturity and lower quality bonds declining most.
Despite recent concerns about rising inflation and the destruction caused by
Hurricanes Katrina and Rita, throughout most of the year the sustained growth in
the U.S. economy fostered a healthy environment for bonds with longer
maturities. However, as the Federal Reserve pushed short-term interest rates
upward, intermediate-term bonds felt the adverse impact of rising rates, but did
not benefit from the high demand that was evident for long-term bonds. Due to
their lower sensitivity to interest rate movements, short-term bonds had
positive performance for the year as their yields contributed to total return.
Because the Fund's duration was considerably lower than the benchmark duration
and it had less exposure to intermediate-term bonds, the Fund benefited relative
to the Index. During the year, allocations to the mortgage and corporate sectors
were reduced in favor of asset-backed securities (ABS) and commercial
mortgage-backed securities (CMBS). We felt ABS and CMBS offered better relative
value due to their stable credit quality. They also have a widening investor
base that can support valuations for the foreseeable future. These allocations
to
65
- --------------------------------------------------------------------------------
out-of-index sectors generally contributed to the Fund's excess performance over
the benchmark. Opportunistically during the year, we reduced our position in
nominal U.S. Treasuries in favor of the Treasury Inflation Protected Securities
(TIPS) sector when we felt TIPS offered better risk/reward characteristics, or
when they would benefit from the attractive seasonal accruals. This strategy was
particularly helpful later in the period as rising energy costs helped to
exacerbate inflation concerns.
WHAT IS THE OUTLOOK?
After the hurricanes, the financial markets were concerned that the destruction
and disruption caused by the storms would have a negative impact upon the
economy. However, subsequent data has indicated that the storms might have a
more muted effect on the macro economy. This encouraging news and increasingly
hawkish Fed comments led to a major upward repricing in the front end of the
yield curve (short maturity bonds). Fed Funds Futures now reflect an increase in
the Fed Funds Target Rate in December and the likelihood of more increases next
year. Over the coming quarter, we likewise expect the Fed to continue raising
short-term interest rates. As a result, we anticipate that there will be
opportunities to increase both duration and the yield of the Fund. Since rising
inflation and interest rates usually have an adverse effect upon businesses, the
current tight corporate spreads and increasing overall credit concerns lead us
to favor the ABS and CMBS sectors.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 42.1%
- -------------------------------------------------------------------
AA 7.2
- -------------------------------------------------------------------
A 27.5
- -------------------------------------------------------------------
BBB 20.0
- -------------------------------------------------------------------
NR 1.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.1%
- -------------------------------------------------------------------
Capital Goods 2.3
- -------------------------------------------------------------------
Consumer Cyclical 1.8
- -------------------------------------------------------------------
Consumer Staples 0.7
- -------------------------------------------------------------------
Energy 1.6
- -------------------------------------------------------------------
Finance 57.8
- -------------------------------------------------------------------
Health Care 0.2
- -------------------------------------------------------------------
Services 3.5
- -------------------------------------------------------------------
Technology 4.1
- -------------------------------------------------------------------
Transportation 1.3
- -------------------------------------------------------------------
U.S. Government Agencies 3.3
- -------------------------------------------------------------------
U.S. Government Securities 14.3
- -------------------------------------------------------------------
Utilities 2.5
- -------------------------------------------------------------------
Short-Term Investments 3.3
- -------------------------------------------------------------------
Other Assets & Liabilities 1.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
66
The Hartford Small Company Fund**
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SMALL COMPANY FUND RUSSELL 2000 GROWTH INDEX
------------------ -------------------------
7/22/96 9450 10000
9422 8779
10263 9429
10915 9914
10/96 10612 9487
10839 9751
10783 9941
10773 10189
10602 9574
10057 8898
10117 8795
11208 10117
11866 10460
12442 10995
12734 11325
13824 12229
10/97 13259 11494
13027 11220
12862 11227
12545 11078
13793 12056
14343 12562
14534 12639
13825 11720
14027 11839
13536 10851
10226 8346
11112 9193
10/98 11997 9673
12808 10423
14207 11367
14827 11878
13365 10791
14465 11175
15649 12162
15979 12182
17250 12824
17229 12427
16983 11963
17324 12193
10/99 17922 12506
19961 13827
23534 16264
22845 16113
26856 19862
26453 17774
24062 15979
21374 14579
24391 16463
22432 15052
24211 16636
23153 15809
10/00 21722 14525
19018 11887
20446 12615
19540 13636
17379 11766
15876 10697
18038 12006
17802 12284
18079 12620
17098 11543
16376 10822
13792 9075
10/01 14911 9948
16339 10779
17208 11450
16935 11043
16139 10328
17318 11226
16884 10983
16237 10341
15107 9464
12660 8009
12412 8005
11903 7427
10/02 12337 7803
13095 8576
11951 7985
11629 7767
11393 7560
11790 7674
13045 8400
14498 9347
14958 9527
16026 10248
16820 10798
16200 10525
10/03 17740 11434
18237 11807
18573 11860
19317 12483
19342 12464
19716 12522
18696 11894
19031 12130
19454 12534
17851 11409
17079 11164
18408 11781
10/04 18743 12067
19812 13087
20681 13557
19550 12947
20195 13124
19923 12632
19066 11828
20359 12662
21501 13071
22806 13985
22881 13788
23515 13897
10/05 22918 13384
</Table>
<Table>
--- SMALL COMPANY FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$22,918 ending value $13,384 ending value
</Table>
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.
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
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
lower. For information on current expense waivers/reimbursements, please see the
prospectus.
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ----------------------------------------------------------
Small Co A# 7/22/1996 22.27% 1.08% 10.02%
- ----------------------------------------------------------
Small Co A## 7/22/1996 15.53% -0.05% 9.36%
- ----------------------------------------------------------
Small Co B# 7/22/1996 21.38% 0.36% NA*
- ----------------------------------------------------------
Small Co B## 7/22/1996 16.38% -0.03% NA*
- ----------------------------------------------------------
Small Co C# 7/22/1996 21.35% 0.36% 9.28%
- ----------------------------------------------------------
Small Co C## 7/22/1996 20.35% 0.36% 9.28%
- ----------------------------------------------------------
Small Co Y# 7/22/1996 22.81% 1.55% 10.53%
- ----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Class B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
** As of August 16, 2004, the fund no longer offers Class A, B
and C shares except as follows. The fund will continue to
offer and sell shares (1) through ACH and other similar
systematic investment facilities to investors who established
plans to invest through such facilities prior to August 16,
2004 and (2) for reinvestment of capital gains distributions
and income dividends, and (3) to certain qualified retirement
plans that included (or offered) the fund as an investment
option prior to August 16, 2004.
The fund continues to pay 12b-1 fees. These fees are paid for
ongoing shareholder services, to compensate brokers for past
sales and to reimburse the fund's distributor for commissions
paid in connection with past sales.
(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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
STEVEN C. ANGELI, CFA
Senior Vice President, Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Small Company Fund Class A, before sales charge, returned 22.27%
for the twelve-month period ended October 31, 2005. The Fund outperformed the
10.91% return of the Russell 2000 Growth Index and the 11.79% return of the
Lipper Small Cap Growth peer group average.
WHY DID THE FUND PERFORM THIS WAY?
Superior stock selection within several sectors contributed to the Fund's out
performance. Information Technology, Financials, Consumer Discretionary and
Energy were areas of particular strength. ERG (Energy) and Arch Coal (Energy)
were the top contributors to both absolute and relative performance over the
annual period. Italy's largest independent oil refiner, ERG, benefited from
higher margins. We did not own the stock as of the end of the period. A strong
pricing environment and favorable demand for the coal industry benefited Arch
Coal. Within Information Technology, Red Hat's healthy rebound was attributable
to the company having overcome some competitive issues and emerging as the clear
market leader in Linux operating systems. Another leading contributor to
performance was CB Richard Ellis (Real Estate), which benefited from an
improving commercial real estate market.
Stocks that detracted from performance during the annual period include Sirva
(Commercial Services and Supplies), AtheroGenics (Pharmaceuticals &
Biotechnology) and Graftech International (Capital Goods). AtheroGenics was
weighed down by the much publicized product woes of big pharmaceutical companies
and delays in securing a marketing partner for their lead drug. We owned the
stock as of the end of the period. Both Sirva and Graftech International were
negatively impacted by disappointing earnings. We did not hold either stock as
of the end of the period.
Although the Fund's sector allocations are a fallout of our bottom-up investment
approach, our positioning during the period was additive to benchmark-relative
returns. For example, we benefited
67
- --------------------------------------------------------------------------------
from our underweight allocation to the Information Technology sector and our
overweight allocation to the strong performing Energy sector.
WHAT IS THE OUTLOOK?
As long as the Fed maintains its hawkish stance to suppress energy-induced
inflation and subdue an extended housing market, the US economy is likely to
slow down in 2006, with growth falling short of most expectations. Anecdotally,
we have uncovered signs of decelerating growth among the Portfolio's industrial
and consumer discretionary companies. To position the Fund to outperform in this
scenario, we have been adding companies with more stable but growing revenue
sources in areas such as Health Care, as well companies with more international
revenue exposure. Since our competitive advantage lies in stock selection as
opposed to macro forecasts, we are focused on small companies that deliver high,
sustainable growth in almost any economic environment.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.5%
- -------------------------------------------------------------------
Capital Goods 1.0
- -------------------------------------------------------------------
Consumer Cyclical 11.6
- -------------------------------------------------------------------
Consumer Staples 1.2
- -------------------------------------------------------------------
Energy 3.9
- -------------------------------------------------------------------
Finance 15.7
- -------------------------------------------------------------------
Health Care 17.2
- -------------------------------------------------------------------
Services 12.6
- -------------------------------------------------------------------
Technology 24.0
- -------------------------------------------------------------------
Transportation 4.7
- -------------------------------------------------------------------
Utilities 1.2
- -------------------------------------------------------------------
Short-Term Investments 30.4
- -------------------------------------------------------------------
Other Assets & Liabilities -28.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
68
The Hartford SmallCap Growth Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS TO MAXIMIZE SHORT- ANDLONG-TERM CAPITAL
APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SMALLCAP GROWTH FUND RUSSELL 2000 GROWTH INDEX
-------------------- -------------------------
10/31/95 9450 10000
9672 10441
9498 10673
9339 10584
9958 11067
10207 11286
11145 12153
11691 12776
10927 11946
9817 10487
10660 11263
11390 11843
10/96 10581 11333
10578 11648
10156 11875
9999 12172
8795 11437
8022 10629
7826 10506
9296 12085
9521 12495
10079 13134
9819 13528
10477 14608
10/97 9996 13730
10031 13403
10310 13411
9967 13233
11151 14401
11866 15006
11956 15098
11343 14000
11802 14143
10849 12962
8478 9970
9065 10981
10/98 9655 11555
10875 12451
12357 13578
13234 14189
11559 12891
12395 13350
12857 14529
12950 14552
14744 15319
14935 14845
15283 14290
15999 14566
10/99 18361 14939
20641 16518
26125 19428
26633 19248
37188 23727
33275 21233
27861 19088
23992 17416
29733 19666
27528 17981
32986 19873
31119 18885
10/00 28292 17351
20148 14200
22480 15069
22910 16289
18605 14055
16626 12778
18137 14342
18122 14675
18813 15075
17439 13789
16296 12927
13265 10841
10/01 14608 11884
16262 12876
17541 13678
16964 13191
16020 12338
17674 13410
16917 13120
15732 12353
14265 11305
12331 9568
12269 9563
11247 8872
10/02 12144 9321
13509 10245
12440 9538
12027 9279
11481 9031
11614 9167
12713 10035
14211 11166
14577 11381
15545 12241
16629 12899
16637 12573
10/03 17869 13659
18313 14104
18571 14167
19678 14911
19647 14889
19491 14958
18633 14208
18828 14490
19444 14973
17861 13628
17627 13335
18594 14073
10/04 19187 14415
20497 15633
21379 16194
20427 15465
20997 15677
20731 15089
19772 14129
21223 15126
21847 15615
23305 16706
22884 16471
22853 16601
10/05 22073 15988
</Table>
<Table>
--- SMALLCAP GROWTH FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$22,073 ending value $15.988 ending value
</Table>
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.
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.
PORTFOLIO MANAGERS
DAVID J. ELLIOTT, CFA
Vice President
DORIS T. DWYER
Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- -------------------------------------------------------------------
SmallCap A# 1/4/1988 15.04% -4.84% 8.85% 12.58%
- -------------------------------------------------------------------
SmallCap A## 1/4/1988 8.72% -5.92% 8.24% 12.22%
- -------------------------------------------------------------------
SmallCap B# 11/14/1994 14.20% -5.45% NA* NA*
- -------------------------------------------------------------------
SmallCap B## 11/14/1994 9.20% -5.71% NA* NA*
- -------------------------------------------------------------------
SmallCap C# 11/14/1994 14.16% -5.48% 8.20% 10.51%
- -------------------------------------------------------------------
SmallCap C## 11/14/1994 13.16% -5.48% 8.20% 10.51%
- -------------------------------------------------------------------
SmallCap H# 11/14/1994 14.38% -5.39% NA* NA*
- -------------------------------------------------------------------
SmallCap H## 11/14/1994 10.38% -5.65% NA* NA*
- -------------------------------------------------------------------
SmallCap L# 1/4/1988 15.28% -4.80% 8.88% 12.59%
- -------------------------------------------------------------------
SmallCap L## 1/4/1988 9.80% -5.73% 8.35% 12.28%
- -------------------------------------------------------------------
SmallCap M# 11/14/1994 14.35% -5.38% NA* NA*
- -------------------------------------------------------------------
SmallCap M## 11/14/1994 10.35% -5.64% NA* NA*
- -------------------------------------------------------------------
SmallCap N# 11/14/1994 14.38% -5.39% 8.26% 10.56%
- -------------------------------------------------------------------
SmallCap N## 11/14/1994 13.38% -5.39% 8.26% 10.56%
- -------------------------------------------------------------------
SmallCap Y# 2/19/2002 15.52% NA NA 9.23%
- -------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes L, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, H, L, M, N
and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Small Cap Growth Fund Class A, before sales charge, returned 15.04%
for the twelve-month period ended October 31, 2005. The Fund outperformed the
Russell 2000 Growth Index, which gained 10.91% and the Lipper Small-Cap Growth
average, which advanced 11.79%.
WHY DID THE FUND PERFORM THIS WAY?
Superior stock selection drove the Fund's outperformance relative to the
benchmark. Health Care, Information Technology, Industrials, Financials and
Energy were the areas of greatest strength relative to the benchmark. United
Defense Industries (Capital Goods), Frontier Oil Corp (Energy), TriZetto Group
(Health Care Equipment & Services) and KOS Pharmaceuticals (Pharmaceuticals &
Biotechnology) were the leading contributors to both absolute and
benchmark-relative returns. Frontier Oil benefited from rising oil prices.
United Defense Industries benefited from a $75 per share buyout offer by BAE
Systems, the largest UK defense company. The buyout (all cash offer) was at more
than a 40% premium to the prior night's close. We sold United Defense during the
annual period.
Stock selection within Telecommunication Services, Materials and Consumer
Staples detracted from performance relative to the benchmark. Century Aluminum
(Materials), a US producer of Aluminum, declined after disappointing third
quarter results. R&G Financials (Banks) and NPS Pharmaceuticals (Pharmaceuticals
& Biotechnology) also detracted from both absolute and relative performance. R&G
Financial (Banks) declined as a result of earnings restatements and an SEC
investigation. We did not own the stock as of the end of the period. NPS
Pharmaceuticals (Pharmaceuticals & Biotechnology) was negatively impacted by
concerns over its osteoporosis drug, Preoss. We held the stock as of the end of
the period.
WHAT IS THE OUTLOOK?
Consumption in the U.S. is expected to slow, but not collapse. The top 40
percent of income earners, who account for 60 percent of consumption, can absorb
higher borrowing costs and expensive gasoline without sacrificing too much.
However, significant
69
- --------------------------------------------------------------------------------
budgetary pressures are building for many low-income households. Inflation is
accelerating, driven by energy prices. In coming months, the trailing twelve
month CPI will exceed 4 percent. There is a risk that the persistent rise of
energy prices could feed into other inflation categories as well. However, in
light of the determined anti-inflationary stance of the Federal Reserve Bank, we
think this spillover will be limited. We therefore look for a decelerating rate
of increase in inflation over the course of 2006.
As a result of the Fund's investment approach, sector positioning is in-line
with the Russell 2000 Growth Index, resulting in the greatest exposure to
Information Technology, Consumer Discretionary and Health Care sectors.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.7%
- -------------------------------------------------------------------
Capital Goods 3.4
- -------------------------------------------------------------------
Consumer Cyclical 9.0
- -------------------------------------------------------------------
Energy 7.3
- -------------------------------------------------------------------
Finance 10.3
- -------------------------------------------------------------------
Health Care 19.6
- -------------------------------------------------------------------
Services 12.1
- -------------------------------------------------------------------
Short-Term Investments 13.3
- -------------------------------------------------------------------
Technology 23.9
- -------------------------------------------------------------------
Transportation 5.2
- -------------------------------------------------------------------
Utilities 0.6
- -------------------------------------------------------------------
Other Assets & Liabilities -9.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
70
The Hartford Stock Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM GROWTH OF CAPITAL, WITH INCOME AS A
SECONDARY CONSIDERATION.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
STOCK FUND S&P 500 INDEX
---------- -------------
7/22/96 9450 10000
9526 10102
9668 10317
10178 10897
10/96 10443 11198
11180 12043
10915 11805
11568 12542
11653 12641
11313 12122
11900 12845
12639 13630
13267 14236
14196 15368
13373 14507
14055 15301
10/97 13675 14790
14244 15475
14387 15741
14510 15914
15620 17061
16522 17935
16874 18118
16551 17806
17500 18529
17671 18333
15081 15684
15706 16689
10/98 16939 18044
17917 19138
18895 20240
19509 21086
19135 20430
20074 21248
20975 22070
20361 21549
21694 22745
21089 22035
20762 21925
20187 21324
10/99 21271 22674
21633 23134
23108 24495
22013 23265
22052 22825
24183 25058
23489 24304
22970 23805
23469 24391
22976 24010
24180 25501
23046 24155
10/00 23076 24054
21694 22158
21932 22267
22500 23057
20887 20957
19369 19630
20754 21153
20920 21295
20008 20777
19760 20574
18446 19288
17112 17731
10/01 17475 18070
18789 19456
18924 19627
18459 19341
18189 18967
18810 19680
17226 18488
16978 18352
15747 17045
14796 15717
14661 15820
13026 14102
10/02 14207 15342
15272 16244
14289 15290
13896 14891
13607 14668
13658 14810
14694 16029
15408 16872
15625 17088
16008 17389
16205 17728
15936 17540
10/03 16774 18531
16918 18694
17911 19674
17994 20036
18107 20314
17776 20008
17527 19693
17755 19963
18138 20351
17465 19677
17465 19756
17383 19969
10/04 17341 20275
17889 21094
18473 21811
18129 21279
18504 21725
17953 21341
17775 20935
18388 21601
18337 21632
19169 22436
19190 22231
19398 22411
10/05 19138 22038
</Table>
<Table>
--- STOCK FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$19,138 ending value $22,038 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -------------------------------------------------------
Stock A# 7/22/1996 10.36% -3.68% 7.90%
- -------------------------------------------------------
Stock A## 7/22/1996 4.26% -4.76% 7.24%
- -------------------------------------------------------
Stock B# 7/22/1996 9.33% -4.42% NA*
- -------------------------------------------------------
Stock B## 7/22/1996 4.33% -4.78% NA*
- -------------------------------------------------------
Stock C# 7/22/1996 9.53% -4.28% 7.18%
- -------------------------------------------------------
Stock C## 7/22/1996 8.53% -4.28% 7.18%
- -------------------------------------------------------
Stock Y# 7/22/1996 10.91% -3.14% 8.45%
- -------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Class B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) 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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
STEVEN T. IRONS, CFA
Senior Vice President, Partner
SAUL J. PANNELL, CFA
Senior Vice President, Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Stock Fund Class A, before sales charge, returned 10.36% for the
12-month period ended October 31, 2005, outperforming the average return of
8.35% by its Lipper Large Cap Core peer group, and the 8.72% return of its
benchmark, the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
The Fund outperformed during the quarter due to strong stock selection in
several sectors, most notably in Financials, Materials, Industrial Consumer
Discretionary, and Consumer Staples. Consistent with the fund's approach of
selecting stocks from across the full spectrum of opportunities, the Fund had
strong contributions from stocks in a variety of sectors. Mitsubishi Financial,
the world's largest bank, benefited from synergies from their merger with UFJ
and an improving Japanese economy. Shares of the biotechnology firm Amgen were
up sharply after posting very strong earnings, driven by sales of Aranesp, which
treats anemia in cancer patients. The company also offered an improved view of
the product pipeline which helped the shares. In Materials, mining company Rio
Tinto rose sharply during the period based on the strength of copper, iron ore,
and coal prices.
The Fund had broad outperformance during the year, but among the few areas of
weakness was an underweight to the strong performing Utilities sector. The Fund
has been underweight Utilities because we believe the stocks offer limited
prospects for growth. Individual stocks that detracted from relative and
absolute results included Fannie Mae (Financials) and Alcoa (Materials). Fannie
Mae declined due to regulatory scrutiny of their accounting practices and Alcoa
shares lagged because the company's profit margins were negatively affected by
energy related cost increases.
WHAT IS THE OUTLOOK?
On May 1, 2005, Steven T. Irons and Saul J. Pannell replaced Rand L. Alexander
as managers of The Hartford Stock Fund; Mr. Alexander retired from Wellington
Management Company, LLP. Mr. Irons and Mr. Pannell are both experienced
investment professionals who have successful track records with The Hartford
funds. Mr. Irons has been involved with The Hartford Value Fund and The Hartford
Equity Income Fund investment team and
71
- --------------------------------------------------------------------------------
Mr. Pannell has been portfolio manager for The Hartford Capital Appreciation
Fund.
Mr. Irons and Mr. Pannell will continue to manage the fund with a large cap,
core approach. They will apply a bottom-up investment process in constructing a
diversified portfolio. They will look for companies that exhibit the following
qualities: industry leadership, strong balance sheets, solid management, high
return on equity, accelerating earnings, and/or attractive valuation with a
catalyst. Their bottom-up up investment approach resulted in the Fund being
overweight Information Technology and Consumer Discretionary, and underweight
Consumer Staples and Utilities at the end of the period.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 5.2%
- -------------------------------------------------------------------
Capital Goods 5.6
- -------------------------------------------------------------------
Consumer Cyclical 10.4
- -------------------------------------------------------------------
Consumer Staples 5.7
- -------------------------------------------------------------------
Energy 7.3
- -------------------------------------------------------------------
Finance 20.7
- -------------------------------------------------------------------
Health Care 12.5
- -------------------------------------------------------------------
Services 4.7
- -------------------------------------------------------------------
Technology 26.3
- -------------------------------------------------------------------
Transportation 0.5
- -------------------------------------------------------------------
Utilities 1.0
- -------------------------------------------------------------------
Short-Term Investments 7.9
- -------------------------------------------------------------------
Other Assets & Liabilities -7.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
72
The Hartford Target Retirement 2010 Fund
(sub-advised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO MAXIMIZE TOTAL RETURN AND SECONDARILY, TO SEEK
CAPITAL PRESERVATION.
PERFORMANCE OVERVIEW(2) 9/30/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
TARGET RETIREMENT 2010 FUND AGGREGATE BOND INDEX S&P 500 INDEX
--------------------------- -------------------- -------------
9/30/05 9450 10000 10000
10/31/05 9282 9921 9833
</Table>
<Table>
--- TARGET RETIREMENT 2010 -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
FUND BOND INDEX $10,000 starting value
$9,450 starting value $10,000 starting value $9,833 ending value
$9,282 ending value $9,921 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distribution 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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2010 A# 9/30/2005 -1.80%
- ------------------------------------------------------
Target Retirement 2010 A## 9/30/2005 -7.18%
- ------------------------------------------------------
Target Retirement 2010 B# 9/30/2005 -1.80%
- ------------------------------------------------------
Target Retirement 2010 B## 9/30/2005 -6.71%
- ------------------------------------------------------
Target Retirement 2010 C# 9/30/2005 -1.80%
- ------------------------------------------------------
Target Retirement 2010 C## 9/30/2005 -2.78%
- ------------------------------------------------------
Target Retirement 2010 Y# 9/30/2005 -1.70%
- ------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
WHAT DID THE MARKETS DO AND HOW DID THE FUND PERFORM?
The Hartford Target Retirement 2010 Fund faced challenging conditions in its
first month. In October of 2005, the financial markets struggled and most major
indices finished the month with a loss. For the month ended October 31, 2005 the
Fund's Class A shares, before sales charge, return -1.80%. Rising interest rates
and inflation worries sent the broad fixed income markets down, declining 0.79%
as measured by the Lehman Brothers Aggregate Bond Index. Despite generally solid
earnings reports, equities similarly declined. The S&P 500 Index, a common
benchmark for U.S. equities, lost 1.67% for the month. The appreciating dollar
contributed to an even greater drop by foreign equities. The MSCI EAFE Index
lost 2.91% for the month.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's primarily objective is to maximize total return, but with a secondary
objective of preserving capital as the Fund approaches its target year of 2010.
Currently, the Fund's asset allocation is set at approximately 50% fixed income
and 50% equity. The fixed income component of the Fund is structured around five
fixed income indices. Over the one month since the Fund's inception, the Credit
Suisse First Boston (CSFB) Leveraged Loan Index was the top performer (up
0.32%), followed by the Lehman Brothers 1-3 Year Government Index (down 0.03%),
the Lehman Brothers High Yield Index (down 0.70%), the Lehman Aggregate Bond
Index (down 0.79%), and finally the Lehman U.S. TIPS Index (down 1.28%). During
the month, the Fund's exposure to the bank loan asset class was one of the
greatest contributors to performance relative to the benchmark. The exposure to
short-term bonds also contributed to excess return. However, the allocation to
Treasury Inflation-Protected securities detracted from performance. Regarding
the equity component, the equity allocation of the Fund is structured around
five equity indices. For the month, all five indices declined. The S&P 500/
Barra Growth Index (down 1.58%) was the best performer, followed by the S&P
500/Barra Value Index (down 1.75%), the S&P Midcap 400 Index (down 2.15%), the
MSCI EAFE Index (down 2.91%), and finally the Russell 2000 Index (down 3.10%).
Small cap, midcap and foreign equities were included in the portfolio due to
their diversification benefits and their potential for greater long-term return.
However, this month these more volatile styles were out of favor and therefore
their exposure detracted from the Fund's performance.
73
- --------------------------------------------------------------------------------
OUTLOOK
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. We will be
monitoring the growth of the economy and the condition of the financial markets.
While we intend to stay within a limited range about our target asset class
ranges, we will make incremental changes to asset class and individual fund
allocations according to our outlook and the Fund's objective to maximize total
return for future retirees. Over a longer time horizon, as the Fund approaches
its 2010 target retirement date, the Fund's allocation to equity will decrease
while its allocation to fixed income increases.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2004
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 7.4%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 9.8
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 12.2
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 2.4
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford Select Midcap Growth, Class Y 2.4
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 12.2
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 12.2
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 2.4
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 7.4
- -------------------------------------------------------------------
Other Assets and Liabilities 9.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
74
The Hartford Target Retirement 2020 Fund
(sub-advised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO MAXIMIZE TOTAL RETURN AND SECONDARILY, TO SEEK
CAPITAL PRESERVATION.
PERFORMANCE OVERVIEW(2) 9/30/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
TARGET RETIREMENT 2020 FUND AGGREGATE BOND INDEX S&P 500 INDEX
--------------------------- -------------------- -------------
9/30/05 9450 10000 10000
10/31/05 9253 9921 9833
</Table>
<Table>
--- TARGET RETIREMENT 2020 -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
FUND BOND INDEX $10,000 starting value
$9,450 starting value $10,000 starting value $9,833 ending value
$9,253 ending value $9,921 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distribution 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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2020 A# 9/30/2005 -2.10%
- ------------------------------------------------------
Target Retirement 2020 A## 9/30/2005 -7.47%
- ------------------------------------------------------
Target Retirement 2020 B# 9/30/2005 -2.20%
- ------------------------------------------------------
Target Retirement 2020 B## 9/30/2005 -7.09%
- ------------------------------------------------------
Target Retirement 2020 C# 9/30/2005 -2.20%
- ------------------------------------------------------
Target Retirement 2020 C## 9/30/2005 -3.18%
- ------------------------------------------------------
Target Retirement 2020 Y# 9/30/2005 -2.10%
- ------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
WHAT DID THE MARKETS DO AND HOW DID THE FUND PERFORM?
The Hartford Target Retirement 2020 Fund faced challenging conditions in its
first month. In October of 2005, the financial markets struggled and most major
indices finished the month with a loss. For the month ended October 31, 2005,
the Fund's Class A shares, before sales charge returned -2.10%. Rising interest
rates and inflation worries sent the broad fixed income markets down, declining
0.79% as measured by the Lehman Brothers Aggregate Bond Index. Despite generally
solid earnings reports, equities similarly declined. The S&P 500 Index, a common
benchmark for U.S. equities, lost 1.67% for the month. The appreciating dollar
contributed to an even greater drop by foreign equities. The MSCI EAFE Index
lost 2.91% for the month.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's primarily objective is to maximize total return, but with a secondary
objective of preserving capital as the Fund approaches its target year of 2020.
Currently, the Fund's asset allocation is set at approximately 65% equity and
35% fixed income. The equity allocation of the Fund is structured around five
equity indices. For the one month since the Fund's inception, all five equity
indices declined. The S&P 500/Barra Growth Index (down 1.58%) was the best
performer, followed by the S&P 500/ Barra Value Index (down 1.75%), the S&P
Midcap 400 Index (down 2.15%), the MSCI EAFE Index (down 2.91%), and finally the
Russell 2000 Index (down 3.10%). Small cap, midcap and foreign equities are
included in the portfolio due to their diversification benefits and their
potential for greater long-term return. However, this month these more volatile
styles were out of favor and therefore their exposure detracted from the Fund's
performance. The fixed income component of the Fund is structured around five
fixed income indices. Over the one month since the Fund's inception, the Credit
Suisse First Boston (CSFB) Leveraged Loan Index was the top performer (up
0.32%), followed by the Lehman Brothers 1-3 Year Government Index (down 0.03%),
the Lehman Brothers High Yield Index (down 0.70%), the Lehman Aggregate Bond
Index (down 0.79%), and finally the Lehman U.S. TIPS Index (down 1.28%). During
the month, the Fund's exposure to the bank loan asset class was one of the
greatest contributors to performance relative to the benchmark. The exposure
short-term bonds also contributed to excess return. However, the allocation to
Treasury Inflation-Protected securities detracted from performance.
75
- --------------------------------------------------------------------------------
OUTLOOK
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. We will be
monitoring the growth of the economy and the condition of the financial markets.
While we intend to stay within a limited range about our target asset class
ranges, we will make incremental changes to asset class and individual fund
allocations according to our outlook and the Fund's objective to maximize total
return for future retirees. Over a longer time horizon, as the Fund approaches
its 2020 target retirement date, the Fund's allocation to equity will decrease
while its allocation to fixed income increases.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2004
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 7.5%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 9.1
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 3.4
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.3
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 7.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 2.3
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 2.3
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.3
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 2.3
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 5.7
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 2.3
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 8.1
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 7.5
- -------------------------------------------------------------------
Other Assets and Liabilities 24.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
76
The Hartford Target Retirement 2030 Fund
(sub-advised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO MAXIMIZE TOTAL RETURN AND SECONDARILY, TO SEEK
CAPITAL PRESERVATION.
PERFORMANCE OVERVIEW(2) 9/30/05 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
TARGET RETIREMENT 2030 FUND AGGREGATE BOND INDEX S&P 500 INDEX
--------------------------- -------------------- -------------
9/30/05 9450 10000 10000
10/31/05 9216 9833 9921
</Table>
<Table>
--- TARGET RETIREMENT 2030 -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
FUND BOND INDEX $10,000 starting value
$9,450 starting value $10,000 starting value $9,833 ending value
$9,216 ending value $9,921 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
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 Index and Commercial
Mortgage-Backed Securities Index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distribution 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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2030 A# 9/30/2005 -2.50%
- ------------------------------------------------------
Target Retirement 2030 A## 9/30/2005 -7.84%
- ------------------------------------------------------
Target Retirement 2030 B# 9/30/2005 -2.60%
- ------------------------------------------------------
Target Retirement 2030 B## 9/30/2005 -7.47%
- ------------------------------------------------------
Target Retirement 2030 C# 9/30/2005 -2.60%
- ------------------------------------------------------
Target Retirement 2030 C## 9/30/2005 -3.57%
- ------------------------------------------------------
Target Retirement 2030 Y# 9/30/2005 -2.50%
- ------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGERS
WILLIAM DAVISON, CFA
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
- --------------------------------------------------------------------------------
WHAT DID THE MARKETS DO AND HOW DID THE FUND PERFORM?
The Hartford Target Retirement 2030 Fund faced challenging conditions in its
first month. In October of 2005, the financial markets struggled and most major
indices finished the month with a loss. For the month ended October 31, 2005,
the Fund's Class A shares, before sales charge, returned -2.50%. Rising interest
rates and inflation worries sent the broad fixed income markets down, declining
0.79% as measured by the Lehman Brothers Aggregate Bond Index. Despite generally
solid earnings reports, equities similarly declined. The S&P 500 Index, a common
benchmark for U.S. equities, lost 1.67% for the month. The appreciating dollar
contributed to an even greater drop by foreign equities. The MSCI EAFE Index
lost 2.91% for the month.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's primarily objective is to maximize total return, but with a secondary
objective of preserving capital as the Fund approaches its target year of 2030.
Currently, the Fund's asset allocation is set at approximately 80% equity and
20% fixed income. The equity allocation of the Fund is structured around five
equity indices. For the one month since the Fund's inception, all five equity
indices declined. The S&P 500/Barra Growth Index (down 1.58%) was the best
performer, followed by the S&P 500/ Barra Value Index (down 1.75%), the S&P
Midcap 400 Index (down 2.15%), the MSCI EAFE Index (down 2.91%), and finally the
Russell 2000 Index (down 3.10%). Small cap, midcap and foreign equities are
included in the portfolio due to their diversification benefits and their
potential for greater long-term return. However, this month these more volatile
styles were out of favor and therefore their exposure detracted from the Fund's
performance. Although the Fund has a long time horizon, it includes a modest
allocation to bonds to increase the portfolio's diversification and enhance the
Fund's overall risk-return characteristics. The fixed income component of the
Fund is structured around three fixed income indices. Over the one month since
the Fund's inception, the Lehman Brothers 1-3 Year Government Index (down 0.03%)
was the top performer, followed by the Lehman Aggregate Bond Index (down 0.79%),
and the Lehman U.S. TIPS Index (down 1.28%). During the month, the Fund's
exposure to short-term bonds was one the greatest contributors to performance
relative to the benchmark. However, the allocation to Treasury
Inflation-Protected securities detracted from performance.
77
- --------------------------------------------------------------------------------
OUTLOOK
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. While it may still be too early to
tell fully what effect the storms will have on the national economy, it is
likely that there will be a near-term slowing followed by a bounce related to
rebuilding. This pattern would represent a fairly typical reaction to natural
disasters. For the remainder of the year, however, we are forecasting higher
short-term rates resulting from another increase in the Federal Funds Target
Rate by the Federal Reserve. As short-term rates continue to rise, we believe
the yield curve will continue to flatten, with short and long maturity Treasury
rates eventually trading at similar yield levels or inverting. We will be
monitoring the growth of the economy and the condition of the financial markets.
While we intend to stay within a limited range about our target asset class
ranges, we will make incremental changes to asset class and individual fund
allocations according to our outlook and the Fund's objective to maximize total
return for future retirees. Over a longer time horizon, as the Fund approaches
its 2030 target retirement date, the Fund's allocation to equity will decrease
while its allocation to fixed income increases.
COMPOSITION BY UNDERLYING FUND
as of October 31, 2004
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 10.2%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 12.8
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 5.1
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 7.7
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 5.1
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford Select Midcap Growth Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 2.5
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 5.1
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 7.7
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 7.7
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 2.6
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 10.2
- -------------------------------------------------------------------
Other Assets & Liabilities 10.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
78
The Hartford Tax-Free California Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENTINCOME EXEMPT FROM BOTH FEDERAL
AND CALIFORNIAINCOME TAX.
PERFORMANCE OVERVIEW(2) 10/31/02 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS CALIFORNIA EXEMPT
TAX-FREE CALIFORNIA FUND INDEX
------------------------ ---------------------------------
10/31/02 9550 10000
9476 9985
9718 10166
9620 10116
9814 10269
9805 10274
9863 10562
10116 10630
10000 10549
9437 10152
9540 10234
9869 10529
10/03 9842 10491
9990 10618
10087 10704
10142 10770
10337 10948
10319 10923
10018 10652
9970 10611
10023 10679
10189 10821
10478 11058
10541 11116
10/04 10643 11231
10550 11149
10706 11293
10831 11421
10790 11386
10727 11310
10925 11495
11010 11579
11097 11664
11047 11620
11167 11748
11097 11678
10/05 11037 11603
</Table>
<Table>
--- TAX-FREE CALIFORNIA FUND --- LEHMAN BROTHERS CALIFORNIA MUNICIPAL
$9,550 starting value BOND INDEX
$11,037 ending value $10,000 starting value
$11,603 ending value
</Table>
LEHMAN BROTHERS CALIFORNIA MUNICIPAL BOND INDEX is an unmanaged index of
municipal bonds issued by the State of California with maturities greater than
two years.
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.
PORTFOLIO MANAGER
Charles Grande
Senior Vice President
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------
California A# 10/31/2002 3.69% 4.94%
- ----------------------------------------------------
California A## 10/31/2002 -1.01% 3.35%
- ----------------------------------------------------
California B# 10/31/2002 2.92% 4.16%
- ----------------------------------------------------
California B## 10/31/2002 -2.08% 3.23%
- ----------------------------------------------------
California C# 10/31/2002 2.91% 4.22%
- ----------------------------------------------------
California C## 10/31/2002 1.91% 4.22%
- ----------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the year ended October 31, 2005, the Lehman Brothers California Exempt Index
was up 3.31%, more than double the gains of the investment grade Lehman
Aggregate Bond Index which was up 1.13%. The Hartford Tax-Free California Fund
Class A, performed strongly, with the Class A, before sales charge, returning
3.69%. As of October 31, 2005, the SEC yield for this Fund's Class A shares was
3.49%.
WHY DID THE FUND PERFORM THIS WAY?
The year ending October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast,
however, for most of the year long-term rates declined due to strong demand from
overseas and limited supply. The result was a much flatter yield curve.
Additionally, the positive outlook for the economy boded favorably for most
municipal credits, causing municipal credit spreads to tighten throughout the
year. Although there were record levels of municipal bond issuance, primarily
due to the refunding of issues at lower rates, the market's desire for
tax-exempt bonds rapidly absorbed these new issues. There was, however, a lack
of issuance for long maturity municipal bonds. Relating directly to California,
improved economic conditions and a relatively calm political period allowed the
State to resolve a number of issues with its budget, leading to tighter credit
spreads for its issues.
Despite recent concerns about rising inflation and the destruction caused by
Hurricanes Katrina and Rita, throughout most of the year the sustained growth in
the U.S. economy fostered a healthy environment for most municipal credits. This
was especially true for economic growth within the California economy.
California's housing market has done exceptionally well, experiencing double-
digit growth during this period. The strength of the housing market is a
reflection of consumer confidence during a period of economic prosperity and low
mortgage rates. Given that high yield bonds outperformed higher quality bonds,
the Fund's large exposure to high yield Special Tax debt (tied directly to the
housing market) and other lower rated credits benefited performance relative to
its benchmark. As the yield curve flattened throughout the year, the Fund's
underweight to short-term maturities and overweight to long-term maturities also
benefited performance. Bonds maturing in more than 20 years were in demand from
mutual funds that received positive cash flows that had to be put to work. In
anticipation of the strong growth of the housing market, the Fund was overweight
to Special Tax issues primarily due to a lack of high yield alternatives.
Although the exposure to Special Tax bonds was beneficial to yield, we tempered
our purchases by investing in shorter maturities where absolute yields were
slightly lower, but spreads were wider. The Fund's SEC Yield declined as we
struggled to balance the need for yield with
79
- --------------------------------------------------------------------------------
the expense of taking greater credit risk at spreads where we did not believe we
were being adequately compensated.
WHAT IS THE OUTLOOK?
In general, we remain positive on municipal bonds and recommend a balanced
approach to the market. The historical positive credit dynamic is showing very
early signs of stress as the adjusted high cost of fuel is expected have
negative consequences upon municipalities that have already passed their
budgets. Therefore, we are concerned about the extremely tight credit spreads.
The disclosure of issue exposure to areas affected by Katrina may also cause
near-term spread widening at the national level. Nevertheless, we expect that
the pace of issuance will continue to slow, while a rising rate environment will
attract the interest of retail investors either directly or through mutual fund
flows. Consequently, we expect there will be a supply demand imbalance that will
allow municipal bonds to outperform taxable product going into the year end. We
favor longer maturity bonds, but look to selectively purchase intermediate
maturities due to a lack of demand for intermediate bonds. We will continue to
look for under valued investment grade credits and in California we are
currently favoring the Education and Industrial Revenue sectors as opportunities
arise.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 32.7%
- -------------------------------------------------------------------
AA 3.2
- -------------------------------------------------------------------
A 14.2
- -------------------------------------------------------------------
BBB 29.6
- -------------------------------------------------------------------
NR 20.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
General Obligations 21.3%
- -------------------------------------------------------------------
Health Care/Services 8.0
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 14.5
- -------------------------------------------------------------------
Housing (HFA's, etc.) 3.4
- -------------------------------------------------------------------
Land Development 8.3
- -------------------------------------------------------------------
Miscellaneous 16.2
- -------------------------------------------------------------------
Pollution Control 1.3
- -------------------------------------------------------------------
Public Facilities 7.8
- -------------------------------------------------------------------
Utilities -- Combined 1.5
- -------------------------------------------------------------------
Utilities -- Gas 1.7
- -------------------------------------------------------------------
Utilities -- Water and Sewer 7.9
- -------------------------------------------------------------------
Waste Disposal 2.1
- -------------------------------------------------------------------
Short Term Investments 3.7
- -------------------------------------------------------------------
Other Assets & Liabilities 2.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
80
The Hartford Tax-Free Minnesota Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENTINCOME EXEMPT FROM BOTH FEDERAL
INCOME TAX ANDMINNESOTA STATE PERSONAL INCOME TAX.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS MUNICIPAL BOND
TAX-FREE MINNESOTA FUND INDEX
----------------------- ------------------------------
10/31/95 9550 10000
9685 10166
9782 10264
9825 10341
9756 10271
9630 10140
9607 10111
9611 10107
9701 10218
9782 10310
9768 10308
9887 10452
10/96 9969 10570
10109 10763
10075 10718
10079 10738
10161 10837
10027 10693
10110 10782
10243 10944
10347 11061
10591 11367
10474 11261
10589 11394
10/97 10654 11468
10709 11535
10857 11703
10952 11824
10935 11828
10938 11838
10879 11785
11049 11971
11083 12018
11108 12049
11322 12235
11463 12387
10/98 11413 12387
11459 12430
11482 12462
11593 12610
11539 12555
11529 12572
11563 12603
11473 12531
11327 12350
11360 12395
11280 12296
11267 12301
10/99 11141 12168
11244 12297
11187 12205
11129 12152
11269 12293
11455 12562
11388 12488
11320 12423
11569 12752
11714 12929
11883 13129
11816 13061
10/00 11950 13203
12038 13303
12366 13632
12442 13767
12494 13810
12581 13934
12411 13783
12558 13931
12630 14025
12816 14233
13004 14467
12948 14418
10/01 13120 14590
12956 14467
12823 14330
13006 14579
13072 14755
12851 14465
13089 14748
13152 14838
13303 14995
13455 15189
13597 15371
13880 15708
10/02 13600 15447
13503 15382
13821 15707
13756 15667
13966 15887
13954 15896
14011 16001
14385 16376
14306 16305
13733 15735
13819 15853
14281 16319
10/03 14175 16237
14342 16406
14483 16542
14542 16636
14767 16886
14743 16827
14385 16428
14348 16369
14380 16428
14568 16645
14869 16978
14960 17067
10/04 15078 17214
14936 17073
15128 17281
15248 17442
15191 17385
15090 17275
15310 17548
15417 17673
15484 17782
15402 17702
15573 17881
15444 17761
10/05 15329 17653
</Table>
<Table>
--- TAX-FREE MINNESOTA FUND --- LEHMAN BROTHERS MUNICIPAL BOND INDEX
$9,550 starting value $10,000 starting value
$15,329 ending value $17,653 ending value
</Table>
LEHMAN BROTHERS MUNICIPAL BOND INDEX is an unmanaged index of municipal bonds
with maturities greater than two years.
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.
PORTFOLIO MANAGER
CHARLES GRANDE
Senior Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- -------------------------------------------------------------------
Minnesota
A#.......... 6/2/1986 1.66% 5.11% 4.85% 5.94%
- -------------------------------------------------------------------
Minnesota
A##......... 6/2/1986 -2.89% 4.14% 4.37% 5.69%
- -------------------------------------------------------------------
Minnesota
B#.......... 11/14/1994 0.91% 4.40% NA* NA*
- -------------------------------------------------------------------
Minnesota
B##......... 11/14/1994 -3.99% 4.06% NA* NA*
- -------------------------------------------------------------------
Minnesota
C#.......... 11/14/1994 1.01% 4.39% 3.97% 4.84%
- -------------------------------------------------------------------
Minnesota
C##......... 11/14/1994 0.03% 4.39% 3.97% 4.84%
- -------------------------------------------------------------------
Minnesota
E#.......... 6/2/1986 1.68% 5.40% 4.99% 6.01%
- -------------------------------------------------------------------
Minnesota
E##......... 6/2/1986 -2.86% 4.44% 4.51% 5.76%
- -------------------------------------------------------------------
Minnesota
H#.......... 11/14/1994 1.00% 4.44% NA* NA*
- -------------------------------------------------------------------
Minnesota
H##......... 11/14/1994 -2.92% 4.10% NA* NA*
- -------------------------------------------------------------------
Minnesota
L#.......... 11/14/1994 1.62% 5.22% 4.76% 5.65%
- -------------------------------------------------------------------
Minnesota
L##......... 11/14/1994 -2.93% 4.25% 4.28% 5.21%
- -------------------------------------------------------------------
Minnesota
M#.......... 11/14/1994 1.00% 4.49% NA* NA*
- -------------------------------------------------------------------
Minnesota
M##......... 11/14/1994 -2.92% 4.15% NA* NA*
- -------------------------------------------------------------------
Minnesota
N#.......... 11/14/1994 0.91% 4.49% 4.02% 4.87%
- -------------------------------------------------------------------
Minnesota
N##......... 11/14/1994 -0.07% 4.49% 4.02% 4.87%
- -------------------------------------------------------------------
Minnesota
Y#.......... 2/19/2002 1.66% NA NA 4.75%
- -------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes E, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Class A, E and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, E, H, L, M,
N and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the year ended October 31, 2005, the Lehman Brothers Municipal Bond Index up
2.56%. The Hartford Tax-Free Minnesota Fund performed solidly, with the Class A
Shares returning 1.66% before sales charges. As of October 31, 2005, the SEC
yield for this Fund's Class A shares was 3.35%.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast,
however, for most of the year long-term rates declined due to strong demand from
overseas and limited supply. The result was a much flatter yield curve.
Additionally, the positive outlook for the economy boded favorably for most
municipal credits, causing municipal credit spreads to tighten throughout the
period. Additionally, limited issuance of high yield debt within Minnesota made
the search for incremental yield/performance through credit spread tightening
difficult. Although there were record levels of municipal bond issuance,
primarily due to the refunding of issues at lower rates, the market's desire for
tax-exempt bonds rapidly absorbed these new issues.
Despite recent concerns about rising inflation and the destruction caused by
Hurricanes Katrina and Rita, throughout most of the year the sustained growth in
the U.S. economy fostered a healthy environment for municipal credits. While we
would have preferred to add more higher yielding, long-term maturity bonds to
the portfolio during the year, the lack of issuance of this type pf paper in
Minnesota and high demand from other state specific mutual funds prevented us
from doing so at reasonable valuations. Therefore, since credit spreads
continued to tighten throughout the year, the Fund would have performed better
if it had held more high yield bonds. The Fund's SEC Yield declined as we
struggled to balance the need for yield with the expense of taking greater
credit risk at spreads where we did not believe we were being adequately
compensated.
WHAT IS THE OUTLOOK?
In general, we remain positive on municipal bonds and recommend a balanced
approach to the market. The historical positive credit dynamic is showing very
early signs of stress as the adjusted high cost of fuel is expected have
negative consequences upon municipalities that have already passed their
budgets.
81
- --------------------------------------------------------------------------------
Therefore, we are concerned about the extremely tight credit spreads. The
disclosure of issue exposure to areas affected by Katrina may also cause
near-term spread widening at the national level. Nevertheless, we expect that
the pace of issuance will continue to slow, while a rising rate environment will
attract the interest of retail investors either directly or through mutual fund
flows. Consequently, we expect there will be a supply-demand imbalance that will
allow municipal bonds to outperform taxable product going into the year end.
Going forward, we continue to be cautious about credit and weigh spread pick-up
and curve positioning with each purchase. Within our search for under valued
investment grade credits, we have recently identified opportunities within the
Health Care sector. We also remain aggressive in searching for higher yielding
opportunities.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 30.8%
- -------------------------------------------------------------------
AA 18.6
- -------------------------------------------------------------------
A 24.4
- -------------------------------------------------------------------
BBB 21.3
- -------------------------------------------------------------------
NR 4.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 4.4%
- -------------------------------------------------------------------
General Obligations 21.0
- -------------------------------------------------------------------
Health Care/Services 15.9
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 14.8
- -------------------------------------------------------------------
Housing (HFA's, etc.) 10.6
- -------------------------------------------------------------------
Miscellaneous 11.2
- -------------------------------------------------------------------
Pollution Control 1.4
- -------------------------------------------------------------------
Public Facilities 2.4
- -------------------------------------------------------------------
Transportation 5.2
- -------------------------------------------------------------------
Utilities -- Combined 0.8
- -------------------------------------------------------------------
Utilities -- Electric 4.4
- -------------------------------------------------------------------
Utilities -- Water and Sewer 4.6
- -------------------------------------------------------------------
Short Term-Investments 1.8
- -------------------------------------------------------------------
Other Assets & Liabilities 1.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
82
The Hartford Tax-Free National Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENTINCOME EXEMPT FROM FEDERAL
INCOME TAX.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS MUNICIPAL BOND
TAX-FREE NATIONAL FUND INDEX
---------------------- ------------------------------
10/31/95 9550 10000
9751 10166
9854 10264
9905 10341
9804 10271
9657 10140
9608 10111
9614 10107
9701 10218
9816 10310
9794 10308
9937 10452
10/96 10044 10570
10226 10763
10166 10718
10163 10738
10243 10837
10098 10693
10180 10782
10328 10944
10439 11061
10779 11367
10611 11261
10751 11394
10/97 10814 11468
10868 11535
11054 11703
11166 11824
11140 11828
11125 11838
11028 11785
11239 11971
11260 12018
11271 12049
11465 12235
11608 12387
10/98 11568 12387
11600 12430
11632 12462
11747 12610
11675 12555
11655 12572
11698 12603
11594 12531
11393 12350
11426 12395
11320 12296
11310 12301
10/99 11150 12168
11281 12297
11206 12205
11141 12152
11297 12293
11519 12562
11445 12488
11371 12423
11654 12752
11803 12929
11988 13129
11913 13061
10/00 12042 13203
12126 13303
12508 13632
12593 13767
12620 13810
12725 13934
12496 13783
12635 13931
12726 14025
12928 14233
13202 14467
13126 14418
10/01 13303 14590
13129 14467
12945 14330
13181 14579
13305 14755
13014 14465
13295 14748
13409 14838
13556 14995
13740 15189
13913 15371
14246 15708
10/02 13951 15447
13827 15382
14200 15707
14103 15667
14348 15887
14327 15896
14451 16001
14855 16376
14744 16305
14065 15735
14204 15853
14630 16319
10/03 14534 16237
14709 16406
14865 16542
14968 16636
15205 16886
15174 16827
14792 16428
14734 16369
14785 16428
15000 16645
15326 16978
15419 17067
10/04 15566 17214
15436 17073
15642 17281
15806 17442
15743 17385
15626 17275
15903 17548
16041 17673
16148 17782
16084 17702
16263 17881
16142 17761
10/05 16049 17653
</Table>
<Table>
--- TAX-FREE NATIONAL FUND --- LEHMAN BROTHERS MUNICIPAL BOND INDEX
$9,550 starting value $10,000 starting value
$16,049 ending value $17,653 ending value
</Table>
LEHMAN BROTHERS MUNICIPAL BOND INDEX is an unmanaged index of municipal bonds
with maturities greater than two years.
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.
PORTFOLIO MANAGER
CHARLES GRANDE
Senior Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- ----------------------------------------------------------------
National A# 6/2/1986 3.10% 5.91% 5.33% 6.45%
- ----------------------------------------------------------------
National A## 6/2/1986 -1.55% 4.94% 4.85% 6.20%
- ----------------------------------------------------------------
National B# 11/14/1994 2.36% 5.03% NA* NA*
- ----------------------------------------------------------------
National B## 11/14/1994 -2.60% 4.70% NA* NA*
- ----------------------------------------------------------------
National C# 11/14/1994 2.35% 5.11% 4.39% 5.39%
- ----------------------------------------------------------------
National C## 11/14/1994 1.36% 5.11% 4.39% 5.39%
- ----------------------------------------------------------------
National E# 6/2/1986 3.20% 6.06% 5.40% 6.49%
- ----------------------------------------------------------------
National E## 6/2/1986 -1.45% 5.08% 4.92% 6.24%
- ----------------------------------------------------------------
National H# 11/14/1994 2.35% 5.09% NA* NA*
- ----------------------------------------------------------------
National H## 11/14/1994 -1.62% 4.76% NA* NA*
- ----------------------------------------------------------------
National L# 11/14/1994 3.06% 5.84% 5.17% 6.17%
- ----------------------------------------------------------------
National L## 11/14/1994 -1.60% 4.86% 4.69% 5.72%
- ----------------------------------------------------------------
National M# 11/14/1994 2.35% 5.09% NA* NA*
- ----------------------------------------------------------------
National M## 11/14/1994 -1.62% 4.76% NA* NA*
- ----------------------------------------------------------------
National N# 11/14/1994 2.36% 5.08% 4.38% 5.38%
- ----------------------------------------------------------------
National N## 11/14/1994 1.37% 5.08% 4.38% 5.38%
- ----------------------------------------------------------------
National Y# 2/19/2002 3.20% NA NA 5.58%
- ----------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes E, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A, E and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, E, H, L, M,
N and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the year ended October 31, 2005, the Lehman Brothers Municipal Bond Index
returned 2.56%. The Hartford Tax-Free National Fund performed strongly, with the
Class A Shares returning 3.10%, before sales charges. As of October 31, 2005,
the SEC yield for this Fund's Class A shares was 3.39%.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast,
however, for most of the year long-term rates declined due to strong demand from
overseas and limited supply. The result was a much flatter yield curve.
Additionally, the positive outlook for the economy boded favorably for most
municipal credits, causing municipal credit spreads to tighten throughout the
year. The occurrence of spread tightening was especially true for high yield
municipal bonds. Although there were record levels of bond issuance primarily,
due to the refunding of issues at lower rates, the market's desire for municipal
bonds rapidly absorbed these new issues. There was, however, a lack of issuance
for long maturity municipal bonds.
Despite recent concerns about rising inflation and the destruction caused by
Hurricanes Katrina and Rita, throughout most of the year the sustained growth in
the U.S. economy fostered a healthy environment for municipal credits. Given
that high yield bonds outperformed higher quality bonds, the Fund's large
exposure to high yield and lower rated credits benefited performance relative to
its benchmark. As the yield curve flattened throughout the year, the Fund's
underweight to short-term maturities and overweight to long-term maturities also
benefited performance; bonds maturing in more than 20 years saw great demand
from mutual funds receiving positive cash flows requiring reinvestment. The
Fund's SEC Yield declined as we struggled to balance the need for yield with the
expense of taking greater credit risk at spreads where we did not believe we
were being adequately compensated.
83
- --------------------------------------------------------------------------------
WHAT IS THE OUTLOOK?
We remain positive on municipal bonds and recommend a balanced approach to the
market. The historical positive credit dynamic is showing very early signs of
stress as the adjusted high cost of fuel is expected to have negative
consequences upon municipalities that have already passed their budgets.
Therefore, we are concerned about the extremely tight credit spreads. The
disclosure of specific issue exposure to areas affected by Katrina may also
cause near-term spread widening. Nevertheless, we expect that the pace of
issuance will continue to slow, while a rising rate environment will attract the
interest of retail investors either directly or through mutual fund flows.
Consequently, we expect there will be a supply demand imbalance that will allow
municipal bonds to outperform taxable product going into the year end. We favor
longer maturity bonds, but look to selectively purchase intermediate maturities
due to a lack of demand for intermediate bonds.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 17.1%
- -------------------------------------------------------------------
AA 13.3
- -------------------------------------------------------------------
A 15.0
- -------------------------------------------------------------------
BBB 31.8
- -------------------------------------------------------------------
BB 2.1
- -------------------------------------------------------------------
NR 20.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 0.5%
- -------------------------------------------------------------------
General Obligations 20.5
- -------------------------------------------------------------------
Health Care/Services 12.6
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 10.8
- -------------------------------------------------------------------
Housing (HFA's, etc.) 3.7
- -------------------------------------------------------------------
Industrial 0.6
- -------------------------------------------------------------------
Land Development 4.1
- -------------------------------------------------------------------
Miscellaneous 19.1
- -------------------------------------------------------------------
Pollution Control 2.3
- -------------------------------------------------------------------
Public Facilities 8.1
- -------------------------------------------------------------------
Refunded with U.S. Gov't Securities 1.4
- -------------------------------------------------------------------
Transportation 2.0
- -------------------------------------------------------------------
Utilities -- Combined 0.8
- -------------------------------------------------------------------
Utilities -- Electric 3.7
- -------------------------------------------------------------------
Utilities -- Water and Sewer 5.0
- -------------------------------------------------------------------
Short-Term Investments 3.8
- -------------------------------------------------------------------
Other Assets & Liabilities 1.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DISTRIBUTION BY STATE
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
STATE NET ASSETS
- -------------------------------------------------------------------
Alabama 1.9%
- -------------------------------------------------------------------
Arizona 5.4
- -------------------------------------------------------------------
California 14.0
- -------------------------------------------------------------------
Colorado 1.0
- -------------------------------------------------------------------
Florida 4.9
- -------------------------------------------------------------------
Georgia 5.1
- -------------------------------------------------------------------
Illinois 5.5
- -------------------------------------------------------------------
Kansas 1.7
- -------------------------------------------------------------------
Kentucky 1.2
- -------------------------------------------------------------------
Louisiana 0.5
- -------------------------------------------------------------------
Maryland 1.1
- -------------------------------------------------------------------
Massachusetts 2.0
- -------------------------------------------------------------------
Michigan 4.8
- -------------------------------------------------------------------
Minnesota 4.4
- -------------------------------------------------------------------
Mississippi 0.3
- -------------------------------------------------------------------
Missouri 0.5
- -------------------------------------------------------------------
Nevada 1.5
- -------------------------------------------------------------------
New Hampshire 0.8
- -------------------------------------------------------------------
New Jersey 4.1
- -------------------------------------------------------------------
New Mexico 0.6
- -------------------------------------------------------------------
New York 5.9
- -------------------------------------------------------------------
North Carolina 1.0
- -------------------------------------------------------------------
Ohio 1.8
- -------------------------------------------------------------------
Other U.S. Territories 2.7
- -------------------------------------------------------------------
Pennsylvania 6.0
- -------------------------------------------------------------------
Rhode Island 6.4
- -------------------------------------------------------------------
South Carolina 1.0
- -------------------------------------------------------------------
Tennessee 0.5
- -------------------------------------------------------------------
Texas 2.5
- -------------------------------------------------------------------
Utah 0.5
- -------------------------------------------------------------------
Virginia 3.0
- -------------------------------------------------------------------
Washington 0.7
- -------------------------------------------------------------------
Wisconsin 1.9
- -------------------------------------------------------------------
Short Term-Investments 3.8
- -------------------------------------------------------------------
Other Assets & Liabilities 1.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
84
The Hartford Tax-Free New York Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENT INCOME EXEMPT FROM FEDERAL, NEW
YORK STATE ANDNEW YORK CITY INCOME TAX.
PERFORMANCE OVERVIEW(2) 10/31/02 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
TAX-FREE NEW YORK FUND LEHMAN NEW YORK EXEMPT INDEX
---------------------- ----------------------------
10/31/02 9550 10000
9474 9945
9733 10161
9660 10138
9831 10275
9850 10285
9937 10349
10256 10584
10168 10542
9643 10185
9752 10267
10097 10562
10/03 10030 10514
10171 10621
10319 10698
10384 10757
10577 10914
10538 10873
10225 10626
10166 10587
10197 10620
10351 10760
10588 10969
10671 11028
10/04 10784 11120
10665 11027
10821 11154
10936 11251
10892 11219
10818 11147
10987 11313
11074 11391
11170 11459
11129 11405
11235 11517
11149 11440
10/05 11073 11376
</Table>
<Table>
--- TAX-FREE NEW YORK FUND --- LEHMAN BROTHERS NEW YORK MUNICIPAL
$9,550 starting value BOND INDEX
$11,073 ending value $10,000 starting value
$11,376 ending value
</Table>
LEHMAN BROTHERS NEW YORK MUNICIPAL BOND INDEX is an unmanaged index of municipal
bonds issued by the State of New York with maturities greater than two years.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------
New York A# 10/31/2002 2.66% 5.05%
- --------------------------------------------------
New York A## 10/31/2002 -1.95% 3.46%
- --------------------------------------------------
New York B# 10/31/2002 1.90% 4.30%
- --------------------------------------------------
New York B## 10/31/2002 -3.05% 3.37%
- --------------------------------------------------
New York C# 10/31/2002 1.90% 4.30%
- --------------------------------------------------
New York C## 10/31/2002 0.91% 4.30%
- --------------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B and C shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
CHARLES GRANDE
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the year ended October 31, 2005, the Lehman Brothers New York Exempt Index
returned 2.29%. The Hartford Tax-Free New York Fund performed strongly, with the
Class A, before sales charge, returning 2.66%, before sales charges. As of
October 31, 2005, the SEC yield for this Fund's Class A shares was 3.16%.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast,
however, for most of the year long-term rates declined due to strong demand from
overseas and limited supply. The result was a much flatter yield curve.
Additionally, a positive outlook for the economy boded favorably for most
municipal credits, causing municipal credit spreads to tighten throughout the
year. Although there were record levels of municipal bond issuance at the
national level, primarily due to the refunding of issues at lower rates, the
market's desire for tax-exempt bonds rapidly absorbed these new issues. However,
the market for New York bonds saw limited issuance of both long maturity
municipal bonds and high yield issues. This made our search for incremental
yield, and performance in a tightening credit spread environment, problematic.
General obligation debt of New York State and local credits showed improving
fundamentals due to continued tax base growth and a stable economy.
Despite recent concerns about rising inflation and the destruction caused by
Hurricanes Katrina and Rita, throughout most of the year the sustained growth in
the U.S. economy fostered a healthy environment for most municipal credits.
Given that high yield bonds outperformed higher quality bonds later in the year,
the Fund's lower exposure to below investment grade issues was a drag on
performance relative to its benchmark. Throughout the year, the lack of issuance
of high yield bonds at reasonable pricing levels was a challenge to the Fund.
Early in the year, the Fund's large exposure to triple-B rated credits assisted
performance. As the year progressed, spreads continued to tighten considerably,
further benefiting the Fund's performance. As the yield curve flattened
throughout the year, the Fund's underweight to short-term maturities and
overweight to long-term maturities also benefited performance; bonds maturing in
more than 20 years were in demand from mutual funds that were receiving positive
cash flows which needed to be reinvested. The Fund's SEC Yield declined as we
struggled to balance the need for yield with the expense of taking greater
credit risk at spreads where we did not believe we were being adequately
compensated.
WHAT IS THE OUTLOOK?
We remain positive on municipal bonds and recommend a balanced approach to the
market. The historical positive credit dynamic is showing very early signs of
stress as the adjusted high
85
- --------------------------------------------------------------------------------
cost of fuel is expected have negative consequences upon municipalities that
have already passed their budgets. Therefore, we are concerned about the
extremely tight credit spreads. The disclosure of issue exposure to areas
affected by Katrina may also cause near-term spread widening at the national
level. Nevertheless, we expect that the pace of issuance will continue to slow,
while a rising rate environment will attract the interest of retail investors
either directly or through mutual fund flows. Consequently, we expect there will
be a supply-demand imbalance that will allow municipal bonds to outperform
taxable product going into year end. We favor longer maturity bonds, but look to
selectively purchase intermediate maturities due to a lack of demand for
intermediate bonds. Going forward, we continue to be cautious about credit and
weigh spread pick-up and curve positioning with each purchase.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 23.5%
- -------------------------------------------------------------------
AA 29.2
- -------------------------------------------------------------------
A 23.5
- -------------------------------------------------------------------
BBB 20.1
- -------------------------------------------------------------------
BB 2.2
- -------------------------------------------------------------------
NR 1.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 1.3%
- -------------------------------------------------------------------
General Obligations 23.3
- -------------------------------------------------------------------
Health Care/Services 7.3
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 25.0
- -------------------------------------------------------------------
Housing (HFA's, etc.) 4.3
- -------------------------------------------------------------------
Industrial 2.3
- -------------------------------------------------------------------
Land Development 0.6
- -------------------------------------------------------------------
Miscellaneous 14.2
- -------------------------------------------------------------------
Pollution Control 3.0
- -------------------------------------------------------------------
Public Facilities 2.9
- -------------------------------------------------------------------
Transportation 3.0
- -------------------------------------------------------------------
Utilities -- Electric 1.6
- -------------------------------------------------------------------
Utilities -- Water and Sewer 2.9
- -------------------------------------------------------------------
Short Term-Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 3.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
86
The Hartford Total Return Bond Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS A COMPETITIVE TOTAL RETURN, WITH INCOME AS A
SECONDARY OBJECTIVE.
PERFORMANCE OVERVIEW(3) 7/22/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S. AGGREGATE BOND
TOTAL RETURN BOND FUND INDEX
---------------------- -----------------------------------
7/22/96 9550 10000
9569 10027
9562 10010
9751 10184
10/96 9958 10410
10168 10588
10097 10490
10153 10522
10186 10549
10054 10431
10205 10588
10315 10689
10464 10816
10811 11108
10694 11013
10865 11175
10/97 10960 11337
11034 11389
11187 11504
11339 11652
11332 11642
11381 11682
11419 11743
11533 11854
11618 11955
11618 11980
11693 12175
12008 12460
10/98 11871 12394
11996 12465
12027 12502
12122 12591
11818 12371
11878 12439
11940 12479
11769 12369
11697 12329
11655 12276
11632 12270
11739 12412
10/99 11766 12458
11770 12457
11702 12397
11673 12356
11813 12506
11970 12671
11951 12634
11940 12628
12212 12891
12293 13008
12434 13196
12505 13280
10/00 12539 13367
12733 13586
13017 13839
13302 14066
13381 14189
13398 14259
13378 14200
13452 14285
13430 14339
13740 14660
13893 14829
13928 15002
10/01 14162 15316
14084 15105
14020 15008
14075 15129
14130 15276
13909 15023
14178 15314
14327 15444
14304 15579
14335 15767
14609 16034
14745 16293
10/02 14798 16218
14958 16213
15323 16549
15450 16564
15685 16793
15705 16779
15905 16918
16243 17233
16229 17199
15739 16621
15847 16730
16274 17174
10/03 16153 17014
16211 17055
16416 17229
16544 17367
16676 17554
16769 17686
16362 17226
16303 17157
16368 17255
16483 17426
16768 17759
16848 17807
10/04 16983 17956
16925 17813
17068 17976
17148 18090
17083 17983
16968 17891
17168 18133
17309 18329
17432 18429
17303 18261
17488 18495
17287 18305
10/05 17151 18160
</Table>
<Table>
--- TOTAL RETURN BOND FUND --- LEHMAN BROTHERS U.S. AGGREGATE BOND INDEX
$9,550 starting value $10,000 starting value
$17,151 ending value $18,160 ending value
</Table>
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.
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.
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Total Return A# 7/22/1996 1.00% 6.46% 6.51%
- --------------------------------------------------------------
Total Return A## 7/22/1996 -3.58% 5.48% 5.98%
- --------------------------------------------------------------
Total Return B# 7/22/1996 0.25% 5.71% NA*
- --------------------------------------------------------------
Total Return B## 7/22/1996 -4.60% 5.39% NA*
- --------------------------------------------------------------
Total Return C# 7/22/1996 0.34% 5.79% 5.80%
- --------------------------------------------------------------
Total Return C## 7/22/1996 -0.63% 5.79% 5.80%
- --------------------------------------------------------------
Total Return Y# 7/22/1996 1.45% 6.97% 7.00%
- --------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
* Inception returns are not applicable for Class B because
after 8 years Class B converts to Class A.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) 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 shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
NASRI TOUTOUNGI
Managing Director
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Total Return
Bond Fund Class A had a total return, before sales charge of 1.00%, versus the
return of 0.82% for the Lipper Intermediate Investment Grade Debt Fund Index and
1.13% for the Lehman Brothers U.S. Aggregate Bond Index. As of October 31, 2005,
the SEC yield for this Fund's Class A shares was 3.48%.
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield bonds, which were among the strongest
performing bond groups for the year. Recently, however, the destruction caused
by Hurricanes Katrina and Rita and historically high energy prices introduced
fears of inflation and a weakening economy into the financial markets. During
the last several months of the year, long-term bonds began to rise and
below-investment grade bonds fell out of favor. Accordingly, over the last three
months, most fixed income indices experienced losses, with longer maturity and
lower quality bonds declining most.
The Fund's benchmark is the investment grade Lehman Brothers Aggregate Bond
Index. However, as part of its investment strategy, the Total Return Fund
typically makes allocations to out-of-index sectors, including sectors that are
considered below investment grade quality or more volatile in nature. Through
the year ended October 31, 2005, the Fund maintained exposure to high yield
bonds and a small position in emerging market securities. During the overall
period, emerging market bonds were the strongest performers and high yield
securities outperformed investment grade corporate bonds. Accordingly, the
Fund's exposure to emerging markets and high yield corporate bonds contributed
to performance relative to the benchmark. The Fund also had exposure to
Non-Dollar Government Bonds and at various times throughout the year, tactical
exposure to foreign currency. As U.S. rates rose more than European rates, the
Non-Dollar Government Bonds outperformed comparable duration U.S. Treasury
bonds. The tactical exposure to foreign currency had a negligible impact to the
return of the fund. The security selection within the Investment Grade Corporate
sector was also a positive contributor to the Fund. Throughout most of the year,
the portfolio was positioned for rising rates and a flatter yield
87
- --------------------------------------------------------------------------------
curve. This defensive positioning was the largest contributor to performance
relative to the benchmark, and the combination of these decisions lead to the
Fund out-performing the Index on a gross return basis. Under-weighting U.S.
Agencies was a negative contributor, as was a small allocation to Treasury
Inflation Protection Securities. It should be noted that the Fund does not use
derivatives, such as options, future and forward agreements, for speculative
purposes.
WHAT IS THE OUTLOOK?
Prior to the hurricanes, our view was that the U.S. economy was on very solid
footing and that inflation, while expected to stay somewhat elevated from 2004
levels, was not likely to worsen materially. It is still too early to tell what
effect the storms will have on the economy. However, it is likely that there
will be a near term slowing followed by a bounce related to rebuilding. This
pattern would represent a fairly typical reaction to natural disasters. For the
remainder of the year, however, we are forecasting higher short-term rates
resulting from further rate increases by the Federal Reserve. As short-term
rates continue to rise, we believe the yield curve will continue to flatten,
with short and long maturity Treasury rates eventually trading at similar yield
levels. We see the potential for the yield curve to invert.
We have begun to decrease risk in the portfolios by reducing lower quality
corporate exposure, since higher short-term rates typically reduce liquidity and
increase cost of funds particularly for lower quality and more highly leveraged
credits. Over the past few months the corporate market also has been subject to
specific or idiosyncratic event risk. We also are concerned that higher mortgage
rates and higher energy costs combined with low U.S. saving rates may lead to
slower consumer spending. Consequently, we are underweight consumer cyclical
sectors such as home building, consumer products and the automotive sector of
the Corporate Index. Also, we continue to overweight the high quality rated
securitized markets. Inflation prospects have clearly worsened. A surge in oil
and gasoline prices in the wake of Hurricane Katrina and Rita has led to a sharp
shift in inflation assumptions. Higher inflation expectation should be an
advantageous environment for Treasury Inflation Protected Securities (TIPs), and
we have begun opportunistically to add them to the portfolios. Overall, our
portfolios are positioned to benefit from further curve flattening, higher
rates, increased market volatility and heightened credit risk. Should our views
change, we will adjust the portfolio holdings accordingly.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
LONG-TERM
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 66.0%
- -------------------------------------------------------------------
AA 6.4
- -------------------------------------------------------------------
A 9.9
- -------------------------------------------------------------------
BBB 11.6
- -------------------------------------------------------------------
BB 3.3
- -------------------------------------------------------------------
B 0.7
- -------------------------------------------------------------------
CCC 0.2
- -------------------------------------------------------------------
C 0.1
- -------------------------------------------------------------------
NR 1.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.3%
- -------------------------------------------------------------------
Capital Goods 0.7
- -------------------------------------------------------------------
Consumer Cyclical 1.4
- -------------------------------------------------------------------
Consumer Staples 0.4
- -------------------------------------------------------------------
Energy 2.9
- -------------------------------------------------------------------
Finance 23.6
- -------------------------------------------------------------------
Foreign Governments 4.9
- -------------------------------------------------------------------
General Obligations 0.6
- -------------------------------------------------------------------
Health Care 0.7
- -------------------------------------------------------------------
Miscellaneous 0.1
- -------------------------------------------------------------------
Services 1.5
- -------------------------------------------------------------------
Technology 4.2
- -------------------------------------------------------------------
Transportation 0.5
- -------------------------------------------------------------------
U.S. Government Agencies 30.6
- -------------------------------------------------------------------
U.S. Government Securities 15.4
- -------------------------------------------------------------------
Utilities 3.1
- -------------------------------------------------------------------
Short-Term Investments 33.9
- -------------------------------------------------------------------
Other Assets & Liabilities -26.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
88
The Hartford U.S. Government Securities Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENT INCOME WHILE MAINTAINING
PRESERVATION OF CAPITAL CONSISTENT WITH PRUDENT INVESTMENT RISK.
PERFORMANCE OVERVIEW(1,3) 10/31/95 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
U.S. GOVERNMENT SECURITIES FUND LEHMAN BROTHERS U.S. GOV'T INDEX
------------------------------- --------------------------------
10/31/95 9550 10000
9676 10156
9792 10300
9856 10363
9688 10152
9625 10067
9572 10003
9559 9986
9674 10115
9693 10140
9679 10118
9851 10286
10/96 10048 10512
10212 10695
10121 10586
10152 10597
10172 10612
10057 10500
10203 10651
10292 10743
10405 10863
10669 11171
10582 11061
10740 11227
10/97 10887 11421
10916 11479
11017 11600
11166 11774
11145 11742
11183 11775
11222 11828
11334 11950
11446 12086
11461 12104
11697 12419
11985 12754
10/98 11875 12711
11928 12714
11955 12742
12006 12816
11765 12511
11829 12560
11854 12589
11740 12478
11690 12453
11640 12435
11615 12434
11760 12535
10/99 11775 12555
11779 12538
11717 12456
11669 12474
11796 12651
11937 12873
11917 12837
11897 12845
12108 13074
12211 13200
12383 13396
12488 13433
10/00 12582 13562
12801 13829
13064 14105
13216 14247
13353 14410
13420 14460
13342 14312
13393 14360
13411 14426
13713 14772
13857 14955
14101 15215
10/01 14339 15608
14132 15258
14043 15126
14118 15224
14289 15364
14096 15031
14357 15388
14468 15481
14593 15697
14848 16043
15043 16360
15299 16743
10/02 15248 16609
15162 16466
15563 16865
15476 16823
15716 17094
15676 17044
15770 17122
16082 17566
15935 17474
15243 16753
15297 16847
15735 17337
10/03 15563 17091
15601 17111
15701 17263
15801 17407
15970 17616
16090 17771
15721 17236
15597 17172
15687 17242
15844 17403
16085 17742
16075 17778
10/04 16198 17920
16067 17707
16206 17866
16275 17978
16177 17851
16152 17792
16364 17507
16495 17710
16560 17809
16396 17595
16608 17853
16456 17643
10/05 16326 17519
</Table>
<Table>
--- U.S. GOVERNMENT SECURITIES FUND --- LEHMAN BROTHERS U.S. GOV'T INDEX
$9,550 starting value $10,000 starting value
$16,326 ending value $17,519 ending value
</Table>
LEHMAN BROTHERS U.S. GOVERNMENT INDEX is an unmanaged index of government bonds
with maturities of one year or more.
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.
PORTFOLIO MANAGER
CHRISTOPHER HANLON, CFA
Senior Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- --------------------------------------------------------------------
U.S. Gov
A#........ 2/28/1973 0.79% 5.35% 5.51% 7.57%
- --------------------------------------------------------------------
U.S. Gov
A##....... 2/28/1973 -3.70% 4.39% 5.03% 7.42%
- --------------------------------------------------------------------
U.S. Gov
B#........ 11/14/1994 -0.17% 4.48% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
B##....... 11/14/1994 -4.99% 4.14% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
C#........ 11/14/1994 -0.07% 4.50% 4.57% 5.30%
- --------------------------------------------------------------------
U.S. Gov
C##....... 11/14/1994 -1.03% 4.50% 4.57% 5.30%
- --------------------------------------------------------------------
U.S. Gov
E#........ 2/28/1973 1.02% 5.61% 5.64% 7.62%
- --------------------------------------------------------------------
U.S. Gov
E##....... 2/28/1973 -3.49% 4.65% 5.16% 7.46%
- --------------------------------------------------------------------
U.S. Gov
H#........ 11/14/1994 -0.07% 4.53% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
H##....... 11/14/1994 -3.92% 4.20% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
L#........ 11/14/1994 0.77% 5.34% 5.39% 6.12%
- --------------------------------------------------------------------
U.S. Gov
L##....... 11/14/1994 -3.72% 4.39% 4.91% 5.67%
- --------------------------------------------------------------------
U.S. Gov
M#........ 11/14/1994 0.04% 4.56% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
M##....... 11/14/1994 -3.82% 4.22% NA* NA*
- --------------------------------------------------------------------
U.S. Gov
N#........ 11/14/1994 0.04% 4.56% 4.60% 5.33%
- --------------------------------------------------------------------
U.S. Gov
N##....... 11/14/1994 -0.93% 4.56% 4.60% 5.33%
- --------------------------------------------------------------------
U.S. Gov
Y#........ 2/19/2002 1.04% NA NA 4.15%
- --------------------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes E, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A, E and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, E, H, L, M,
N and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford U.S. Government
Securities Fund Class A had a total return, before sales charges, of 0.79%
versus the return of 0.60%% for the Lipper General U.S. Government Fund Index
and 0.94% for the Lehman Brothers U.S. Government Bond Index. As of October 31,
2005, the SEC yield for this Fund's Class A shares was 4.16%
WHY DID THE FUND PERFORM THIS WAY?
The year ended October 31, 2005, was an interesting one for the bond market
because short-term interest rates rose throughout the year. In contrast, for
much of the year, long-term rates declined due to strong demand from overseas.
The result was a much flatter yield curve. As the economy showed strength during
the year, the Federal Reserve continued to raise the Federal Funds Target Rate.
By November 1, 2005, the Federal Reserve had raised the Federal Funds Target
Rate twelve consecutive times since June of 2004. This positive outlook for the
economy boded favorable for high yield corporate bonds, which were among the
strongest performing bond groups for the year. Perhaps a more important theme
for the U.S. Government Securities Fund, though, was the quest for yield during
the period. The Agency and securitized debt sectors generally outperformed U.S.
Treasuries as investors sought spread opportunities. Recently, however, the
destruction caused by Hurricanes Katrina and Rita and historically high energy
prices introduced fears of inflation and a weakening economy into the financial
markets. During the last several months of the year, long-term bonds began to
rise and corporate bonds fell out of favor. Although treasuries declined over
the last three months, agencies and securitized debt instruments declined less
or experienced modest gains because investors were searching for higher yields.
The Fund's duration, or sensitivity to interest rate movements, may be
tactically managed in a limited range around the duration of the benchmark. In
general, though, for most of the year ended October 31, 2005, the Fund was
defensively positioned with a duration that was short of the Index. The Fund was
also
89
- --------------------------------------------------------------------------------
positioned for a flattening yield curve. The short duration adversely impacted
performance during the second quarter of 2005 when long-term rates declined
most, but was more than positively offset by contributions to relative
performance during the rest of the year. On the whole, the yield curve
positioning of the Fund was positive for the 12 month period and the greatest
overall contributor to excess return. To help increase the yield of the Fund
relative to treasuries, a large allocation to mortgage-backed securities (MBS)
was maintained. This strategy added modestly to performance as MBS sector
outperformed treasuries and agencies for the year. In contrast, the smaller
allocation to commercial mortgage-backed securities (CMBS) detracted from
performance, since CMBS lagged treasuries and other major securitized sectors.
During the year, the Fund was considerably underweight to the Agency sector, in
part due to the disclosure of improper accounting practices at FNMA. This
underweight contributed positively to relative performance. Small allocations to
Treasury Inflation-Protected Securities (TIPS) were made to the portfolio during
the year, increasing as the year progressed. As inflation worries eased in the
second quarter of 2005, the allocation to TIPS detracted slightly from return.
However, TIPS were positive contributors to the Fund after the hurricanes and
record high energy prices reignited inflation concerns.
WHAT IS THE OUTLOOK?
U.S. economic growth after the hurricanes should continue to remain firm for the
remainder of the year with our GDP forecast at 3.5%. However, we are concerned
about the effects of the spike in energy prices on the consumer, in that they
may cause the economy to soften somewhat in the first half of 2006. Company
earnings remain strong and capital spending is showing signs of revival.
Although headline inflation is elevated due to the increase in energy costs,
core inflation continues to be more modest. We believe concerns regarding energy
prices will spur core inflation and lead the Fed to continued rate hikes into
early 2006. The Fund continues to have exposure to TIPS in response to inflation
concerns. Although their risk factors have increased, we continue to believe the
mortgage sector offers value relative to Treasuries. Similarly, we have a
positive outlook for agency debt. Agency pricing has become less attractive as
spreads continue to tighten, but technical factors continue to dominate.
Favorable technicals include light agency issuance and strong overseas demand.
Overall, we will continue to underweight Treasuries in favor of spread sectors
and will continue to be watchful of the threat of rising inflation and interest
rates.
DISTRIBUTION BY CREDIT QUALITY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 93.6%
- -------------------------------------------------------------------
AA 6.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DISTRIBUTION BY CATEGORY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
CATEGORY NAME NET ASSETS
- -------------------------------------------------------------------
Asset and Commercial Mortgage Backed Securities 4.5%
- -------------------------------------------------------------------
Federal Home Loan Mortgage Corporation 25.1
- -------------------------------------------------------------------
Federal National Mortgage Association 42.9
- -------------------------------------------------------------------
Government National Mortgage Association 2.8
- -------------------------------------------------------------------
Other Direct Federal Obligations 6.8
- -------------------------------------------------------------------
U.S. Treasury Securities 15.6
- -------------------------------------------------------------------
Short-term Investments 6.3
- -------------------------------------------------------------------
Other Assets & Liabilities -4.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
90
The Hartford Value Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM TOTAL RETURN.
PERFORMANCE OVERVIEW(2) 4/30/01 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
VALUE FUND RUSSELL 1000 VALUE INDEX
---------- ------------------------
4/30/01 9450 10000
9554 10225
9488 9998
9507 9977
9214 9577
8553 8903
10/01 8524 8826
9063 9339
9320 9559
9158 9486
9121 9501
9321 9950
8893 9609
8921 9657
8390 9103
7696 8256
7553 8319
6717 7394
10/02 7212 7942
7610 8442
7162 8076
6913 7880
6808 7670
6855 7683
7420 8359
7909 8899
7976 9010
8043 9144
8205 9287
8081 9196
10/03 8540 9759
8674 9892
9157 10501
9224 10686
9341 10915
9245 10819
9090 10555
9226 10663
9399 10914
9051 10760
9109 10913
9215 11082
10/04 9370 11266
9727 11836
10060 12233
9886 12015
10284 12413
10060 12243
9954 12023
10128 12313
10205 12448
10563 12808
10544 12752
10709 12931
10/05 10447 12603
</Table>
<Table>
--- VALUE FUND --- RUSSELL 1000 VALUE INDEX
$9,450 starting value $10,000 starting value
$10,447 ending value $12,603 ending value
</Table>
RUSSELL 1000 VALUE INDEX measures the performance of those Russell 1000 Index
companies with lower price-to-book ratios and lower forecasted growth values.
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.
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------
Value
A#..... 4/30/2001 11.50% 2.24%
- ----------------------------------------------
Value
A##.... 4/30/2001 5.32% 0.97%
- ----------------------------------------------
Value
B#..... 4/30/2001 10.62% 1.50%
- ----------------------------------------------
Value
B##.... 4/30/2001 5.62% 1.08%
- ----------------------------------------------
Value
C#..... 4/30/2001 10.62% 1.50%
- ----------------------------------------------
Value
C##.... 4/30/2001 9.62% 1.50%
- ----------------------------------------------
Value
Y#..... 4/30/2001 12.06% 2.56%
- ----------------------------------------------
</Table>
# Without sales charge
## With sales charge
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) The initial investment in Class A shares reflects the
maximum sales charge and Classes B and C reflect CDSC.
(2) Growth of a $10,000 investment in Classes B, C and Y shares
will vary from results seen above due to differences in the
expenses charged to these share classes.
PORTFOLIO MANAGER
JOHN R. RYAN, CFA
Senior Vice President, Managing Partner
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Value Fund
Class A, before sales charge, returned 11.50% which was in-line with the Russell
1000 Value Index return of 11.86%, and it outperformed the Lipper Large Cap
Value peer group average return of 9.75%.
WHY DID THE FUND PERFORM THIS WAY?
Despite decelerating economic growth, concerns about rising inflation and
interest rates, and stubbornly high oil prices, the equity markets posted higher
returns during the period. Value-oriented stocks outperformed growth-oriented
stocks by 3.05%, measured by the Russell 1000 Value index 11.86% versus the
Russell 1000 Growth index 8.81%.
The more defensive sectors of the Russell 1000 Value index posted positive
gains, with Energy, Consumer Staples and Utilities leading the way. Another
major factor affecting the markets was a continued strong market cap bias toward
smaller cap stocks. The S&P 500 large cap benchmark returned 8.72%, compared to
the S&P 400 MidCap benchmark's return of 17.65% and the Russell 2000 small cap
benchmark return of 12.08%.
While the Fund's investment strategy is primarily driven by bottom-up
fundamental research, a combination of strong stock selection and favorable
sector allocation within Industrials, Health Care, Utilities and
Telecommunication Services contributed to performance.
The top two contributors, on an absolute basis, were Energy stocks
ConocoPhillips and Global SantaFe which benefited from strength in energy
prices. Caterpillar, an Industrials stock, was the third largest contributor.
Its stock price struggled due to higher manufacturing costs that were directly
related to a combination of higher raw materials prices, plant inefficiencies
and maintenance costs. We continue to view the company as having favorable
growth prospects in light of the large hurricane reconstruction effort as well
as growth from overseas. As of the end of the period, all three stocks were held
in the Fund.
The three largest detractors, on an absolute basis, were Alcoa (Materials),
Pfizer (Health Care) and National City (Financials). On a relative basis, the
Fund did not own Altria due to its relatively rich valuations. The stock was a
significant position within the benchmark and advanced sharply (+62%) during the
period.
Alcoa continues to face cost pressures but we believe that there is a tremendous
amount of leverage in their downstream operations. Pfizer was weak due to patent
challenges over Lipitor, a cholesterol-lowering drug, which accounts for 30% of
the company's earnings. National City's mortgage banking business has been
volatile in the current rising rate environment. However,
91
- --------------------------------------------------------------------------------
its core regional banking business continues to perform well. We owned all three
stocks at the end of the period.
WHAT IS THE OUTLOOK?
We expect continued economic expansion, but we are preparing for a deceleration
from recent growth rates. We anticipate 3%+ global and US GDP growth over the
next couple of years. We continue to see core inflation returning to the 2%
range, as the deflationary pressures of globalization no longer are offset by
rising energy prices. Shorter-term interest rates should move higher as the Fed
continues to tighten, and as a result, we expect the yield curve to invert. The
American consumer is facing many headwinds including slowing payroll employment
growth is and rising energy costs. Consumer confidence, while high, is waning.
We expect mortgage refinancing activity will subside and tax refunds to be down.
On the corporate side, most of the news is positive. Corporate profit growth
should remain in the mid-single-digit range, decelerating somewhat as consumer
spending inevitably slows. Balance sheets rarely have been better. Cash levels
are rising despite a pickup in capital spending. Debt repayments continue, while
dividend increases and stock repurchases persist. Deferred infrastructure
spending in the West and new infrastructure spending in the developing world
should bolster business expenditures for several years. On the other hand,
corporations face headwinds from high energy and other commodity prices.
In this environment, we continue to find opportunities in several areas,
particularly those dependent on capital spending. Corporate balance sheets are
flush with liquidity, and the ratio of capital spending to cash flow is well
below average. We added exposure to cyclical companies that we expect will
benefit from continued economic expansion, but whose stocks sell at relatively
attractive valuations. At the end of the period, relative to the Russell 1000
Value Index, the Fund was overweight Health Care, Industrials, Utilities,
Materials, and Consumer Staples.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 8.7%
- -------------------------------------------------------------------
Capital Goods 7.0
- -------------------------------------------------------------------
Consumer Cyclical 4.2
- -------------------------------------------------------------------
Consumer Staples 5.0
- -------------------------------------------------------------------
Energy 13.2
- -------------------------------------------------------------------
Finance 29.8
- -------------------------------------------------------------------
Health Care 7.4
- -------------------------------------------------------------------
Services 1.4
- -------------------------------------------------------------------
Technology 9.2
- -------------------------------------------------------------------
Transportation 2.5
- -------------------------------------------------------------------
Utilities 9.1
- -------------------------------------------------------------------
Short-Term Investments 3.1
- -------------------------------------------------------------------
Other Assets & Liabilities -0.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
92
The Hartford Value Opportunities Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS SHORT- AND LONG-TERM CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 1/2/96 - 10/31/05
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
VALUE OPPORTUNITIES FUND RUSSELL 3000 VALUE INDEX
------------------------ ------------------------
1/2/96 9450 10000
9478 10288
9611 10373
9904 10554
10140 10617
10319 10763
10329 10758
9800 10334
10159 10647
10660 11055
10/96 10697 11451
11321 12260
11329 12159
11716 12706
11861 12887
11426 12436
11842 12923
12529 13675
12838 14273
13544 15299
13070 14829
13689 15734
10/97 13302 15295
13883 15921
14139 16392
14225 16154
15053 17230
15655 18250
15698 18369
15344 18060
15526 18261
14967 17839
12741 15172
13236 16041
10/98 14053 17220
14860 17995
15324 18603
15539 18708
15122 18367
15515 18709
16586 20452
16205 20287
16848 20887
16325 20284
15813 19533
15158 18871
10/99 15824 19850
15836 19711
16679 19839
16013 19201
15104 17949
17408 19979
17536 19769
17767 19943
16666 19133
17012 19399
18304 20464
17831 20632
10/00 19213 21102
18540 20341
19821 21435
20764 21551
20145 20990
19103 20277
20539 21266
20553 21749
20370 21362
19793 21287
18723 20487
16625 18987
10/01 16879 18867
18126 19982
19030 20506
18472 20379
18337 20418
18940 21426
17704 20805
17282 20844
15685 19706
14329 17793
14555 17912
12807 15970
10/02 13952 17085
15067 18180
14163 17391
13817 16965
13395 16505
13380 16543
14947 18007
16107 19218
16288 19464
16499 19802
17207 20143
17207 19943
10/03 18307 21194
18909 21522
19949 22806
20597 23237
20989 23732
20642 23566
20130 22939
20311 23175
20883 23771
20160 23371
20220 23696
20612 24111
10/04 21185 24509
22345 25827
23821 26669
22827 26146
23610 26983
23249 26597
22420 26047
23369 26752
23851 27120
24545 27971
24469 27803
24198 28154
10/05 23445 27440
</Table>
<Table>
--- VALUE OPPORTUNITIES FUND --- RUSSELL 3000 VALUE INDEX
$ 9,450 starting value $10,000 starting value
$23,445 ending value $27,440 ending value
</Table>
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.
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.
PORTFOLIO MANAGERS
JAMES H. AVERILL
Senior Vice President, Partner
DAVID R. FASSNACHT, CFA
Senior Vice President, Partner
JAMES N. MORDY
Senior Vice President, Partner
DAVID W. PALMER, CFA
Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 10/31/05)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------
Value Opp
A#......... 1/2/1996 10.67% 4.06% 9.68%
- -----------------------------------------------------------
Value Opp
A##........ 1/2/1996 4.57% 2.90% 9.06%
- -----------------------------------------------------------
Value Opp
B#......... 1/2/1996 9.97% 3.33% NA*
- -----------------------------------------------------------
Value Opp
B##........ 1/2/1996 4.97% 2.98% NA*
- -----------------------------------------------------------
Value Opp
C#......... 1/2/1996 9.89% 3.31% 8.89%
- -----------------------------------------------------------
Value Opp
C##........ 1/2/1996 8.89% 3.31% 8.89%
- -----------------------------------------------------------
Value Opp
H#......... 1/2/1996 10.04% 3.34% NA*
- -----------------------------------------------------------
Value Opp
H##........ 1/2/1996 6.04% 2.99% NA*
- -----------------------------------------------------------
Value Opp
L#......... 1/2/1996 10.81% 4.09% 9.70%
- -----------------------------------------------------------
Value Opp
L##........ 1/2/1996 5.56% 3.08% 9.16%
- -----------------------------------------------------------
Value Opp
M#......... 1/2/1996 10.05% 3.34% NA*
- -----------------------------------------------------------
Value Opp
M##........ 1/2/1996 6.05% 2.99% NA*
- -----------------------------------------------------------
Value Opp
N#......... 1/2/1996 9.96% 3.34% 8.90%
- -----------------------------------------------------------
Value Opp
N##........ 1/2/1996 8.96% 3.34% 8.90%
- -----------------------------------------------------------
Value Opp
Y#......... 2/19/2002 11.08% NA 7.73%
- -----------------------------------------------------------
</Table>
# Without sales charge
## With sales charge
NA Not Applicable
* 10 year and inception returns are not applicable for Classes
B, H and M because after 8 years Class B converts to Class A
and Classes H and M convert to Class L.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
(1) New Classes A, B and C were offered beginning on February
19, 2002. Performance prior to that date is that of the
fund's Classes L, M and N shares, respectively, which have
lower operating expenses. Performance prior to February 19,
2002 would have been lower if Classes A, B and C shares
expenses were applied during that period.
(2) The initial investment in Classes A and L shares reflects
the maximum sales charge and Classes B, C, H, M and N
reflect CDSC.
(3) Growth of a $10,000 investment in Classes B, C, H, L, M, N
and Y shares will vary from results seen above due to
differences in the expenses charged to these share classes.
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the twelve-month period ended October 31, 2005, The Hartford Value
Opportunities Fund Class A, before sales charge, returned 10.67%. The Fund
under-performed the Russell 3000 Value Index return of 11.96% and the Lipper
Multi Cap Value Average return of 11.02%.
WHY DID THE FUND PERFORM THIS WAY?
Despite decelerating economic growth, concerns about rising inflation and
interest rates, and stubbornly high oil prices, the equity markets posted higher
returns during the period. Value-oriented stocks outperformed growth-oriented
stocks by 3.05%, measured by the Russell 1000 Value index (11.86%) versus the
Russell 1000 Growth index (8.81%). Nine of the ten broad sectors of the
benchmark posted positive returns, with Energy, Consumer Staples and Utilities
stocks leading the way. Another major factor affecting the markets was a
continued strong market cap bias toward smaller cap stocks. The S&P 500 large
cap benchmark returned 8.72%, compared to the S&P 400 MidCap benchmark's return
of 17.65% and the Russell 2000 small cap benchmark return of 12.08%.
Given this backdrop, the Fund's performance was reasonably satisfactory. The
Fund's sizeable allocation to large cap stocks, an area where we are finding the
most attractive valuations, was a detractor of performance. Additional
detractors included weak stock selection within Information Technology,
Materials and Financials. At the margin, the Fund's overweight position in
Consumer Discretionary, and underweight positions within Consumer Staples and
Utilities were also a drag on performance. At the stock level, our greatest
disappointments came in Fannie Mae (Financials), Sappi and Alcoa (Materials) and
Foot Locker (Consumer Discretionary). On absolute basis, Fannie Mae was the
largest detractor from the Fund's performance. We eliminated this position given
that the management and accounting are in disarray and it is unclear what the
business will look like going forward. Material stocks were weak in the period
as investors worried about deceleration of demand, particularly from China.
Alcoa and Sappi
93
- --------------------------------------------------------------------------------
suffered from particular shortfalls in aluminum and coated paper markets. We do
not expect a recession at this point and look for recovery of pricing as current
inventory is used. Foot Locker's stock price was driven by weak sales in Europe.
These three stocks were held in the portfolio at the end of the period.
Offsetting some of these disappointments, the Fund benefited from strong stock
selection and allocation in Health Care, Telecommunication Services and
Industrials. While the Fund's underweight position in Energy detracted,
fortunately the performance of the energy stocks we did own, most notably
Marathon Oil, compensated for the underweight. The largest contributor to
performance, on an absolute basis, was Coventry Healthcare (Health Care), which
continued its strong performance as a member of the exuberant HMO group. Other
top contributors included the merged Wellpoint/Anthem (Health Care), and Rinker
Group (Materials). Wellpoint and Rinker have been eliminated from the Fund.
WHAT IS THE OUTLOOK?
We think that the economy is experiencing a typical mid-cycle slowdown with the
Federal Reserve ("the Fed") raising rates to prevent overheating. As in 1984 and
1994, we expect the Fed to succeed in slowing things down without tipping over
into a recession. In this scenario, we believe economic and corporate profit
growth would continue to slow next year, but business would still be pretty
good. Excess liquidity would be more apt to be returned to shareholders than in
the past, either through share repurchases, or preferably in the form of
dividends encouraged by the low current tax rate on dividends. A favorable if
not booming backdrop in combination with such shareholder-friendly behavior
should be helpful to equities.
With traditional value stocks seemingly overvalued, we have been moving into
growth areas, most notably pharmaceuticals and selected technology names. As of
the end of the period, the Fund was overweight Consumer Discretionary
(importantly Cable, Auto Parts, and Retail), Information Technology, Health Care
and Materials, to a lesser extent. Underweights were in Consumer Staples,
Utilities, Industrials, Energy, Telecommunication Services, and Financials,
groups which we see as expensive relative to their growth prospects.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 11.2%
- -------------------------------------------------------------------
Capital Goods 3.9
- -------------------------------------------------------------------
Consumer Cyclical 10.4
- -------------------------------------------------------------------
Energy 8.2
- -------------------------------------------------------------------
Finance 29.8
- -------------------------------------------------------------------
Health Care 8.8
- -------------------------------------------------------------------
Services 5.0
- -------------------------------------------------------------------
Technology 16.2
- -------------------------------------------------------------------
Transportation 4.6
- -------------------------------------------------------------------
Utilities 0.4
- -------------------------------------------------------------------
Short-Term Investments 1.5
- -------------------------------------------------------------------
Other Assets & Liabilities 0.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
94
(This page intentionally left blank)
95
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 67.7%
BASIC MATERIALS -- 3.6%
236 3M Co. ........................................... $ 17,908
237 BHP Billiton Ltd. ADR............................. 7,346
395 Dow Chemical Co. ................................. 18,101
65 DuPont (E.I.) de Nemours & Co. ................... 2,706
129 Peabody Energy Corp. ............................. 10,114
336 Rio Tinto plc +................................... 12,785
----------
68,960
----------
CAPITAL GOODS -- 3.8%
229 Boeing Co. ....................................... 14,828
486 Caterpillar, Inc. ................................ 25,580
102 Goodrich Corp. ................................... 3,676
86 Illinois Tool Works, Inc. ........................ 7,315
170 Ingersoll-Rand Co. Class A........................ 6,439
316 United Technologies Corp. ........................ 16,210
----------
74,048
----------
CONSUMER CYCLICAL -- 7.1%
139 Best Buy Co., Inc. ............................... 6,148
418 Carnival Corp. ................................... 20,747
119 Costco Wholesale Corp. ........................... 5,750
725 Dollar General Corp. H............................ 14,088
315 Federated Department Stores, Inc. ................ 19,344
794 Gap, Inc. H....................................... 13,713
611 Home Depot, Inc. H................................ 25,075
186 Pulte Homes, Inc. ................................ 7,021
531 Toyota Motor Corp. + ............................. 24,627
----------
136,513
----------
CONSUMER STAPLES -- 3.8%
344 Archer Daniels Midland Co. ....................... 8,376
310 Coca-Cola Co. .................................... 13,262
426 PepsiCo, Inc. .................................... 25,139
463 Procter & Gamble Co. ............................. 25,901
----------
72,678
----------
ENERGY -- 5.2%
83 Chevron Corp. .................................... 4,725
300 ConocoPhillips.................................... 19,594
500 Exxon Mobil Corp. ................................ 28,048
161 GlobalSantaFe Corp. .............................. 7,190
108 Occidental Petroleum Corp. ....................... 8,543
99 Schlumberger Ltd. H............................... 8,968
87 Total S.A. ADR.................................... 10,913
274 Williams Cos., Inc. .............................. 6,115
165 XTO Energy, Inc. ................................. 7,167
----------
101,263
----------
FINANCE -- 13.8%
602 American International Group, Inc. ............... 39,021
599 Bank of America Corp. ............................ 26,205
729 Citigroup, Inc. .................................. 33,365
26 Countrywide Financial Corp. ...................... 836
169 Credit Suisse Group ADR........................... 7,475
246 Federal National Mortgage Association............. 11,685
107 General Growth Properties, Inc. .................. 4,550
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
107 Goldman Sachs Group, Inc. ........................ $ 13,509
888 MBNA Corp. ....................................... 22,706
1 Mitsubishi UFJ Financial Group, Inc. + ........... 16,364
55 ORIX Corp. + ..................................... 10,219
607 St. Paul Travelers Cos., Inc. .................... 27,326
379 State Street Corp. ............................... 20,943
153 UBS AG............................................ 13,125
2,652 UniCredito Italiano S.p.A. + ..................... 14,811
24 Washington Mutual, Inc. .......................... 946
43 Wellpoint, Inc. B................................. 3,189
----------
266,275
----------
HEALTH CARE -- 8.7%
376 Abbott Laboratories............................... 16,187
245 Amgen, Inc. B..................................... 18,523
111 AstraZeneca plc +................................. 4,973
172 AstraZeneca plc ADR............................... 7,709
147 Cardinal Health, Inc. ............................ 9,170
98 Forest Laboratories, Inc. B....................... 3,708
102 Genzyme Corp. B................................... 7,338
626 Lilly (Eli) & Co. ................................ 31,149
432 Medtronic, Inc. .................................. 24,483
292 Quest Diagnostics, Inc. .......................... 13,616
31 Roche Holding AG +................................ 4,705
307 Sanofi-Aventis S.A. ADR H......................... 12,313
661 Schering-Plough Corp. ............................ 13,437
----------
167,311
----------
SERVICES -- 3.1%
575 Accenture Ltd. Class A............................ 15,131
112 Comcast Corp. Class A B........................... 3,109
267 Univision Communications, Inc. Class A B.......... 6,982
400 Viacom, Inc. Class B.............................. 12,397
379 Walt Disney Co. .................................. 9,236
456 XM Satellite Radio Holdings, Inc. Class A BH...... 13,144
----------
59,999
----------
TECHNOLOGY -- 17.5%
810 Applied Materials, Inc. .......................... 13,260
941 AT&T Corp. ....................................... 18,619
1,745 Cisco Systems, Inc. B............................. 30,443
373 Corning, Inc. B................................... 7,488
454 EMC Corp./Massachusetts B......................... 6,331
571 First Data Corp. ................................. 23,089
973 Flextronics International Ltd. B.................. 9,035
1,200 General Electric Co. ............................. 40,699
428 Hewlett-Packard Co. .............................. 12,007
186 Intel Corp. ...................................... 4,373
140 International Business Machines Corp. ............ 11,447
80 KLA-Tencor Corp. ................................. 3,708
220 Lexmark International, Inc. ADR B................. 9,130
1,894 Microsoft Corp. .................................. 48,673
157 Motorola, Inc. ................................... 3,470
47 Samsung Electronics Co., Ltd. + .................. 25,203
199 Sony Corp. + ..................................... 6,501
1,040 Sprint Nextel Corp. .............................. 24,247
</Table>
The accompanying notes are an integral part of these financial statements.
96
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1,536 Time Warner, Inc. ................................ $ 27,378
347 Yahoo!, Inc. B.................................... 12,810
----------
337,911
----------
TRANSPORTATION -- 0.4%
434 Southwest Airlines Co. ........................... 6,947
----------
UTILITIES -- 0.7%
257 Exelon Corp. ..................................... 13,361
----------
Total common stock
(cost $1,198,680)............................... $1,305,266
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
MUNICIPAL BONDS -- 0.2%
GENERAL OBLIGATIONS -- 0.2%
$ 2,000 Oregon School Boards Association, 4.759%, Taxable
Pension 06/30/2028.............................. $ 1,847
2,050 State of Illinois, 5.10%, Taxable Pension
06/01/2033...................................... 1,965
----------
Total municipal bonds
(cost $4,027)................................... $ 3,812
----------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 3.2%
FINANCE -- 2.7%
$ 5,129 Chase Manhattan Auto Owner Trust,
4.21%, 01/15/2009............................... $ 5,127
10,000 Citibank Credit Card Issuance Trust,
5.65%, 06/16/2008............................... 10,059
10,000 MBNA Credit Card Master Note Trust,
4.95%, 06/15/2009............................... 10,040
10,000 Peco Energy Transition Trust,
6.13%, 03/01/2009............................... 10,269
10,000 PSE&G Transition Funding LLC,
6.61%, 06/15/2015............................... 10,895
2,094 Wells Fargo Mortgage Backed Securities Trust,
4.54%, 04/25/2035 K............................. 2,050
1,987 Wells Fargo Mortgage Backed Securities Trust,
4.56%, 03/25/2035 K............................. 1,947
----------
50,387
----------
TRANSPORTATION -- 0.5%
10,000 Connecticut RRB Special Purpose Trust CL&P,
6.21%, 12/30/2011............................... 10,489
----------
Total asset and commercial mortgage backed
securities
(cost $61,063).................................. $ 60,876
----------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- 12.0%
BASIC MATERIALS -- 0.7%
$ 4,000 Alcan, Inc.,
6.45%, 03/15/2011............................... $ 4,204
7,000 Alcoa, Inc.,
7.375%, 08/01/2010.............................. 7,681
1,400 Rohm & Haas Co.,
7.40%, 07/15/2009............................... 1,512
----------
13,397
----------
CAPITAL GOODS -- 0.5%
2,000 Rockwell Automation, Inc.,
6.70%, 01/15/2028............................... 2,264
7,000 United Technologies Corp.,
7.125%, 11/15/2010.............................. 7,691
----------
9,955
----------
CONSUMER CYCLICAL -- 0.7%
2,025 Diageo Capital plc,
4.375%, 05/03/2010.............................. 1,975
250 Sysco Corp.,
6.50%, 08/01/2028............................... 277
4,000 Target Corp.,
5.875%, 11/01/2008.............................. 4,115
6,000 Wal-Mart Stores, Inc.,
6.875%, 08/10/2009.............................. 6,402
----------
12,769
----------
CONSUMER STAPLES -- 1.5%
2,000 Archer-Daniels-Midland Co.,
8.125%, 06/01/2012.............................. 2,322
4,000 Coca-Cola Enterprises, Inc.,
5.75%, 11/01/2008............................... 4,113
2,000 Colgate-Palmolive Co.,
5.58%, 11/06/2008............................... 2,054
4,906 ConAgra Foods, Inc.,
6.70%, 08/01/2027............................... 5,203
500 Pepsi Bottling Group, Inc.,
7.00%, 03/01/2029............................... 589
3,000 PepsiAmericas, Inc.,
6.375%, 05/01/2009.............................. 3,134
7,000 Procter & Gamble Co.,
9.36%, 01/01/2021............................... 9,029
2,300 Weyerhaeuser Co.,
7.375%, 03/15/2032.............................. 2,477
----------
28,921
----------
ENERGY -- 0.6%
7,000 Atlantic Richfield Co.,
5.90%, 04/15/2009............................... 7,259
4,000 National Fuel Gas Co.,
6.00%, 03/01/2009............................... 4,108
----------
11,367
----------
</Table>
The accompanying notes are an integral part of these financial statements.
97
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- 5.4%
$ 3,675 ACE INA Holdings, Inc.,
5.875%, 06/15/2014.............................. $ 3,715
2,000 Allstate Corp.,
6.75%, 05/15/2018............................... 2,179
250 American General Corp.,
6.625%, 02/15/2029.............................. 275
4,000 AXA Financial, Inc.,
7.00%, 04/01/2028............................... 4,562
1,475 Bank of America Corp.,
5.875%, 02/15/2009.............................. 1,516
3,000 Bank of America Corp.,
7.40%, 01/15/2011............................... 3,312
2,000 Bayerische Landesbank NY,
5.65%, 02/01/2009............................... 2,048
1,010 BB&T Corp.,
4.90% 06/30/2017................................ 966
3,700 Berkshire Hathaway Finance Corp.,
4.85%, 01/15/2015 M............................. 3,596
500 BSCH Issuance Ltd.,
7.625%, 11/03/2009.............................. 548
655 Centex Home Equity,
4.72%, 10/25/2031............................... 638
750 Citigroup, Inc.,
3.625%, 02/09/2009.............................. 721
1,600 Citigroup, Inc.,
6.00%, 10/31/2033............................... 1,622
500 Citigroup, Inc.,
6.50%, 01/18/2011............................... 533
1,980 Credit Suisse First Boston USA, Inc.,
4.875%, 01/15/2015.............................. 1,899
1,975 DaimlerChrysler N.A. Holdings Corp.,
6.50%, 11/15/2013............................... 2,047
2,725 ERAC USA Finance Co.,
7.35%, 06/15/2008 M............................. 2,869
885 Everest Re Holdings,
5.40%, 10/15/2014............................... 862
10,000 Financing Corp.,
9.80%, 04/06/2018............................... 14,309
545 First Union National Bank,
5.80%, 12/01/2008............................... 559
2,600 HSBC Bank USA, Inc.,
3.875%, 09/15/2009.............................. 2,501
2,200 International Lease Finance Corp.,
5.00%, 09/15/2012............................... 2,144
6,045 J.P. Morgan Chase & Co.,
5.125%, 09/15/2014.............................. 5,916
2,000 Jackson National Life Insurance Co.,
8.15%, 03/15/2027 M............................. 2,471
1,655 John Deere Capital Corp.,
4.875%, 10/15/2010.............................. 1,642
250 KeyCorp Capital II,
6.875%, 03/17/2029.............................. 269
2,335 Liberty Mutual Group,
5.75%, 03/15/2014 M............................. 2,248
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
$ 1,000 MBIA, Inc.,
7.00%, 12/15/2025............................... $ 1,102
3,650 Metlife, Inc.,
6.375%, 06/15/2034.............................. 3,870
250 National City Corp.,
6.875%, 05/15/2019.............................. 280
3,100 New England Mutual Life Insurance Co.,
7.875%, 02/15/2024 M............................ 3,813
2,000 Prudential Funding LLC,
6.75%, 09/15/2023 M............................. 2,200
500 Prudential Insurance Co. of America,
6.375%, 07/23/2006 M............................ 506
500 ReliaStar Financial Corp.,
8.00%, 10/30/2006............................... 513
250 Republic New York Capital I,
7.75%, 11/15/2026............................... 265
500 Salomon Smith Barney Holdings, Inc.,
5.875%, 03/15/2006.............................. 503
200 State Street Corp.,
7.65%, 06/15/2010............................... 223
500 Texaco Capital, Inc.,
8.625%, 06/30/2010.............................. 578
3,000 Torchmark Corp.,
8.25%, 08/15/2009............................... 3,304
2,000 Toyota Motor Credit Corp.,
5.50%, 12/15/2008............................... 2,046
4,000 UnitedHealth Group, Inc.,
5.00%, 08/15/2014............................... 3,941
3,100 US Bank NA,
4.95%, 10/30/2014............................... 3,047
250 Verizon Global Funding Corp.,
7.25%, 12/01/2010............................... 271
250 Verizon Global Funding Corp.,
7.75%, 12/01/2030............................... 290
3,000 Wachovia Corp.,
5.625%, 12/15/2008.............................. 3,071
4,000 Wells Fargo Bank NA,
6.45%, 02/01/2011............................... 4,255
580 Willis Group North America,
5.125%, 07/15/2010.............................. 574
4,165 XL Capital Europe plc,
6.50%, 01/15/2012............................... 4,339
----------
104,958
----------
HEALTH CARE -- 0.6%
4,000 Becton, Dickinson & Co.,
6.70%, 08/01/2028............................... 4,533
685 CVS Corp.,
4.875%, 09/15/2014.............................. 657
1,600 Pharmacia Corp.,
6.60%, 12/01/2028............................... 1,822
4,000 Wyeth,
6.95%, 03/15/2011............................... 4,311
----------
11,323
----------
</Table>
The accompanying notes are an integral part of these financial statements.
98
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
SERVICES -- 0.8%
$ 4,000 Comcast Cable Communications, Inc.,
6.875%, 06/15/2009.............................. $ 4,209
500 Comcast Cable Communications, Inc.,
8.50%, 05/01/2027............................... 615
3,425 Comcast Corp.,
5.65%, 06/15/2035............................... 3,063
4,000 FedEx Corp.,
3.50%, 04/01/2009............................... 3,819
4,000 Walt Disney Co.,
6.375%, 03/01/2012.............................. 4,213
----------
15,919
----------
TECHNOLOGY -- 1.0%
3,000 Cox Communications, Inc.,
5.45%, 12/15/2014............................... 2,910
2,000 Danaher Corp.,
6.00%, 10/15/2008............................... 2,084
1,800 Deutsche Telekom International Finance B.V.,
8.75%, 06/15/2030............................... 2,232
7,725 General Electric Co.,
5.00%, 02/01/2013............................... 7,660
1,000 New York Telephone Co.,
6.00%, 04/15/2008............................... 1,013
3,100 Telecom Italia Capital,
5.25%, 10/01/2015............................... 2,984
250 Telecomunicaciones de Puerto Rico, Inc.,
6.65%, 05/15/2006............................... 252
500 Vodafone Group plc,
7.875%, 02/15/2030.............................. 615
----------
19,750
----------
UTILITIES -- 0.2%
500 Alabama Power Co.,
7.125%, 10/01/2007.............................. 521
2,000 Kansas City Power & Light Co.,
7.125%, 12/15/2005.............................. 2,006
1,150 Northern Border Pipeline Co.,
7.75%, 09/01/2009............................... 1,248
250 TransCanada Pipelines Ltd.,
6.49%, 01/21/2009............................... 260
----------
4,035
----------
Total corporate bonds: investment grade
(cost $223,267)................................. $ 232,394
----------
U.S. GOVERNMENT SECURITIES -- 13.4%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.8%
$ 3,676 Financing Corp. Strip,
4.40% 2013 Z.................................... $ 2,462
13,500 Tennessee Valley Authority,
4.375%, 06/15/2015.............................. 12,982
----------
15,444
----------
U.S. TREASURY SECURITIES -- 12.6%
22,950 2.375% 2025 HJ.................................... 24,883
2,000 2.50% 2006 H...................................... 1,964
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
U.S. TREASURY SECURITIES -- (CONTINUED)
$ 4,550 2.75% 2006 H...................................... $ 4,504
24,725 3.50% 2010........................................ 23,796
147,625 3.875% 2007 -- 2010 H............................. 145,890
25,600 4.125% 2015 H..................................... 24,704
17,075 4.25% 2010 -- 2015 H.............................. 16,808
----------
242,549
----------
Total U.S. government securities
(cost $260,970)................................. $ 257,993
----------
U.S. GOVERNMENT AGENCIES -- 1.7%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 0.2%
$ 3,750 2.50% 2013........................................ $ 3,619
973 4.50% 2019 -- 2020................................ 942
----------
4,561
----------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 0.3%
247 4.50% 2020 I...................................... 239
5,239 5.00% 2019........................................ 5,169
3 9.00% 2021........................................ 4
----------
5,412
----------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 0.7%
4,515 6.00% 2023 -- 2034................................ 4,596
3,631 6.50% 2026 -- 2035................................ 3,775
3,724 7.00% 2023 -- 2032................................ 3,920
698 8.00% 2029 -- 2031................................ 747
45 9.00% 2023........................................ 49
----------
13,087
----------
OTHER GOVERNMENT AGENCIES -- 0.5%
14,050 Resolution Funding Corp.,
4.25% 2014 Z.................................... 9,409
----------
Total U.S. government agencies
(cost $32,570).................................. $ 32,469
----------
Total long-term investments
(cost $1,780,577)............................... $1,892,810
----------
SHORT-TERM INVESTMENTS -- 16.3%
REPURCHASE AGREEMENTS -- 1.7%
$ 1,092 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 1,092
12,092 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 12,092
7,743 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 7,743
11,455 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 11,455
----------
32,382
----------
</Table>
The accompanying notes are an integral part of these financial statements.
99
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 14.6%
277,716 BNY Institutional Cash Reserve Fund............... $ 277,716
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
$ 4,973 Lehman Brothers Repurchase Agreement,
3.98%, 11/1/2005................................ $ 4,973
----------
282,689
----------
Total short-term investments
(cost $315,071)................................. 315,071
----------
Total investments in securities
(cost $2,095,648) O............................. $2,207,881
==========
</Table>
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 9.78% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $120,188, which represents 6.23% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $2,113,649 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $125,540
Unrealized depreciation........................ (31,308)
--------
Net unrealized appreciation.................... $ 94,232
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at October
31, 2005, was $17,703, which represents 0.92% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
J 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.
I The cost of securities purchased on a when-issued basis at
October 31, 2005 was $241.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Sell $965 $974 11/01/2005 $9
--
$9
==
</Table>
The accompanying notes are an integral part of these financial statements.
100
THE HARTFORD AGGRESSIVE GROWTH ALLOCATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 98.9%
EQUITY FUNDS -- 98.9%
227 Hartford Capital Appreciation Fund, Class Y B..... $ 8,751
1,266 Hartford Disciplined Equity Fund, Class Y......... 15,340
282 Hartford Dividend and Growth Fund, Class Y........ 5,449
253 Hartford Global Leaders Fund, Class Y B........... 4,409
621 Hartford Growth Fund, Class Y B................... 10,963
78 Hartford Growth Opportunities Fund, Class Y B..... 2,202
714 Hartford International Capital Appreciation Fund,
Class Y B....................................... 8,801
379 Hartford International Small Company Fund, Class
Y............................................... 5,461
320 Hartford MidCap Value Fund, Class Y............... 4,343
234 Hartford Small Company Fund, Class Y B............ 4,516
462 Hartford SmallCap Growth Fund, Class Y B.......... 13,280
1,113 Hartford Value Fund, Class Y...................... 12,009
906 Hartford Value Opportunities Fund, Class Y B...... 14,266
--------
Total investments in affiliated
investment companies
(cost $104,080) O............................... $109,790
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $104,086 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $5,704
Unrealized depreciation.......................... --
------
Net unrealized appreciation...................... $5,704
======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
101
THE HARTFORD BALANCED ALLOCATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ --------
AFFILIATED INVESTMENT COMPANIES -- 99.0%
EQUITY FUNDS -- 59.7%
1,116 Hartford Capital Appreciation Fund, Class Y B..... $ 42,941
1,772 Hartford Disciplined Equity Fund, Class Y......... 21,476
527 Hartford Dividend and Growth Fund, Class Y........ 10,179
433 Hartford Global Leaders Fund, Class Y B........... 7,560
1,426 Hartford Growth Fund, Class Y B................... 25,162
450 Hartford Growth Opportunities Fund, Class Y B..... 12,770
2,752 Hartford International Capital Appreciation Fund,
Class Y B....................................... 33,931
1,566 Hartford MidCap Value Fund, Class Y............... 21,280
732 Hartford Small Company Fund, Class Y B............ 14,144
284 Hartford SmallCap Growth Fund, Class Y B.......... 8,170
460 Hartford Stock Fund, Class Y...................... 8,820
1,557 Hartford Value Fund, Class Y...................... 16,799
2,449 Hartford Value Opportunities Fund, Class Y B...... 38,540
--------
Total equity funds
(cost $243,818)................................. $261,772
--------
FIXED INCOME FUNDS -- 37.3%
642 Hartford Floating Rate Fund, Class Y.............. 6,468
1,659 Hartford High Yield Fund, Class Y................. 12,859
1,262 Hartford Income Fund, Class Y..................... 12,921
4,052 Hartford Inflation Plus Fund, Class Y............. 43,271
4,601 Hartford Short Duration Fund, Class Y............. 45,269
4,014 Hartford Total Return Bond Fund, Class Y.......... 43,068
--------
Total fixed income funds
(cost $167,106)................................. $163,856
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ --------
MONEY MARKET FUND -- 2.0%
8,609 Hartford Money Market Fund, Class Y............... $ 8,609
--------
Total money market fund
(cost $8,609)................................... $ 8,609
--------
Total investments in affiliated investment
companies
(cost $419,533) O............................... $434,237
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $419,533 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $17,954
Unrealized depreciation......................... (3,250)
-------
Net unrealized appreciation..................... $14,704
=======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
102
THE HARTFORD CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
COMMON STOCK -- 96.1%
BASIC MATERIALS -- 11.3%
2,016 3M Co. ........................................... $ 153,168
751 Arch Coal, Inc. H................................. 57,880
2,922 BHP Billiton Ltd. ADR H........................... 90,741
1,941 Cameco Corp. ..................................... 92,765
2,257 Companhia Vale do Rio Doce ADR H.................. 93,272
3,606 Dow Chemical Co. ................................. 165,389
1,600 Freeport-McMoRan Copper & Gold, Inc. Class B...... 79,072
710 Holcim Ltd. +..................................... 44,224
2,500 Huntsman Corp. BH................................. 49,700
2,500 Lyondell Chemical Co. ............................ 67,000
1,342 OfficeMax, Inc. .................................. 37,611
1,291 Rio Tinto plc +................................... 49,183
2,152 Tek Cominco Ltd. Class B.......................... 90,674
1,596 Xstrata plc +..................................... 36,567
-----------
1,107,246
-----------
CAPITAL GOODS -- 5.8%
2,731 Boeing Co. ....................................... 176,551
1,796 Caterpillar, Inc. ................................ 94,441
2,013 Ingersoll-Rand Co. Class A........................ 76,064
1,482 National Oilwell Varco, Inc. B.................... 92,562
1,097 Parker-Hannifin Corp. ............................ 68,760
4,503 Xerox Corp. B..................................... 61,111
-----------
569,489
-----------
CONSUMER CYCLICAL -- 5.7%
559 Carnival Corp. H.................................. 27,746
3,271 Dollar General Corp. H............................ 63,578
2,721 Federated Department Stores, Inc. ................ 166,969
300 Newell Rubbermaid, Inc. .......................... 6,897
412 Office Depot, Inc. B.............................. 11,337
5,377 Toyota Motor Corp. +.............................. 249,353
595 Yum! Brands, Inc. ................................ 30,283
-----------
556,163
-----------
CONSUMER STAPLES -- 2.3%
1,948 Archer Daniels Midland Co. ....................... 47,483
2,600 Bunge Ltd. H...................................... 135,023
862 Procter & Gamble Co. ............................. 48,269
-----------
230,775
-----------
ENERGY -- 6.7%
2,298 ConocoPhillips.................................... 150,243
1,287 Devon Energy Corp. ............................... 77,715
900 Occidental Petroleum Corp. ....................... 70,992
483 Valero Energy Corp. .............................. 50,789
1,490 Weatherford International Ltd. BH................. 93,287
4,855 XTO Energy, Inc. ................................. 211,014
-----------
654,040
-----------
FINANCE -- 25.1%
3,238 ACE Ltd. H........................................ 168,721
1,900 American Capital Strategies Ltd. H................ 71,364
2,985 American International Group, Inc. ............... 193,399
832 Archstone-Smith Trust............................. 33,758
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
FINANCE -- (CONTINUED)
1,900 Assurant, Inc. H.................................. $ 72,580
1,700 Capital One Financial Corp. H..................... 129,795
97,822 China Life Insurance Co., Ltd. +B................. 71,682
3,130 Citigroup, Inc. .................................. 143,301
2,439 Countrywide Financial Corp. H..................... 77,474
288 European Capital Limited Private Placement +V v... 3,452
1,200 General Growth Properties, Inc. H................. 50,976
2,291 Genworth Financial, Inc. ......................... 72,609
1,396 Goldman Sachs Group, Inc. H....................... 176,438
6,077 ICICI Bank Ltd. BM................................ 67,032
420 iStar Financial, Inc. ............................ 15,493
5,002 MBNA Corp. ....................................... 127,911
11 Mitsubishi UFJ Financial Group, Inc. +............ 138,718
685 ORIX Corp. +...................................... 128,405
2,341 St. Paul Travelers Cos, Inc. H.................... 105,393
1,060 State Street Corp. ............................... 58,527
683 UBS AG H.......................................... 58,521
3,047 Uniao de Bancos Brasileiros S.A. GDR.............. 159,379
25,640 UniCredito Italiano S.p.A. +...................... 143,185
581 Washington Mutual, Inc. .......................... 23,004
2,201 Wellpoint, Inc. B................................. 164,386
-----------
2,455,503
-----------
HEALTH CARE -- 6.7%
700 Amgen, Inc. BH.................................... 53,032
2,700 AstraZeneca plc ADR H............................. 121,230
754 Forest Laboratories, Inc. B....................... 28,569
3,115 Lilly (Eli) & Co. ................................ 155,076
1,113 McKesson Corp. ................................... 50,582
1,250 Omnicare, Inc. ................................... 67,625
750 Sanofi-Aventis S.A. +............................. 60,088
3,043 Teva Pharmaceutical Industries Ltd. ADR H......... 116,014
-----------
652,216
-----------
SERVICES -- 5.8%
25 Harvey Weinstein Master L.P. +V................... 25,200
3,588 Hilton Hotels Corp. .............................. 69,790
1,566 Lamar Advertising Co. B........................... 69,862
595 Opap S.A. +....................................... 17,301
690 Opap S.A. M+...................................... 19,884
891 Pixar Animation Studios BH........................ 45,200
2,215 Starwood Hotels & Resorts Worldwide, Inc. ........ 129,446
2,839 US Airways Group, Inc. +BV........................ 63,061
4,189 Walt Disney Co. .................................. 102,076
1,044 XM Satellite Radio Holdings, Inc. Class A BH...... 30,096
-----------
571,916
-----------
TECHNOLOGY -- 24.3%
2,457 Agilent Technologies, Inc. B...................... 78,658
3,489 America Movil S.A. de C.V. ADR.................... 91,586
800 Apple Computer, Inc. B............................ 46,072
2,731 Applied Materials, Inc. .......................... 44,734
2,943 AT&T Corp. ....................................... 58,218
5,000 Cisco Systems, Inc. B............................. 87,250
</Table>
The accompanying notes are an integral part of these financial statements.
103
THE HARTFORD CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1/3 7/8v11,735 Citigroup Global Certificate -- Bharti
Televentures +BM................................ $ 84,020
1,509 Cognex Corp. H.................................... 43,133
5,584 Corning, Inc. B................................... 112,183
1,363 First Data Corp. ................................. 55,129
7,033 General Electric Co. ............................. 238,492
177 Google, Inc. B.................................... 66,018
3,305 Hewlett-Packard Co. .............................. 92,683
15,512 Hon Hai Precision Industry Co., Ltd. +............ 67,201
1,040 International Business Machines Corp. H........... 85,122
5,477 Microsoft Corp. .................................. 140,767
1,124 Motorola, Inc. ................................... 24,908
727 Qwest Communications International, Inc. B........ 3,169
643 Samsung Electronics Co., Ltd. +................... 342,601
3,400 SBC Communications, Inc. H........................ 81,097
9,998 Sprint Nextel Corp. .............................. 233,042
1,294 Symbol Technologies, Inc. ........................ 10,736
8,599 Time Warner, Inc. ................................ 153,320
1,248 Turkcell Iletisim Hizmet ADR...................... 16,448
2,700 Yahoo!, Inc. B.................................... 99,819
451 Zebra Technologies Corp. Class A B................ 19,438
-----------
2,375,844
-----------
TRANSPORTATION -- 1.9%
1,200 ACE Aviation Holdings, Inc. B..................... 31,488
67,533 Air China Ltd. +B................................. 21,202
3,153 Royal Caribbean Cruises Ltd. H.................... 130,648
-----------
183,338
-----------
UTILITIES -- 0.5%
887 Exelon Corp. H.................................... 46,125
-----------
Total common stock
(cost $8,200,888)............................... $ 9,402,655
-----------
PREFERRED STOCKS -- 0.0%
TECHNOLOGY -- 0.0%
6,325 SensAble Technologies, Inc. +V.................... $ @@
-----------
Total preferred stocks
(cost $4,000)................................... $ @@
-----------
Total long-term investments
(cost 8,204,888)................................ 9,402,655
-----------
PRINCIPAL
AMOUNT
- --------
7/8V
SHORT-TERM INVESTMENTS -- 10.9%
REPURCHASE AGREEMENTS -- 3.7%
$ 12,323 Bank of America Joint Repurchase
Agreement,
3.92%, 11/01/2005............................... $ 12,323
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -----------
REPURCHASE AGREEMENTS -- (CONTINUED)
$136,473 Bank of America TriParty
Joint Repurchase Agreement,
4.03%, 11/01/2005............................... $ 136,473
87,391 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 87,391
129,290 UBS Securities TriParty Repurchase
Agreement,
4.03%, 11/01/2005............................... 129,290
-----------
365,477
-----------
<Caption>
SHARES
- ---------
7/8V SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 7.2%
696,855 BNY Institutional Cash Reserve Fund............... $ 696,855
98 Evergreen Institutional Money Market Fund......... 98
-----------
696,953
-----------
PRINCIPAL
AMOUNT
- --------
V$ 6,383 LEHMAN BROTHERS REPURCHASE AGREEMENT,
3.98%, 11/01/2005............................... 6,383
-----------
703,336
-----------
Total short-term investments
(cost $1,068,813)............................... $ 1,068,813
-----------
Total investments in securities
(cost $9,273,701) O............................. $10,471,468
===========
</Table>
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 25.62% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $1,565,327, which represents 16.00% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $9,274,152 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation....................... $1,375,273
Unrealized depreciation....................... (177,957)
----------
Net unrealized appreciation................... $1,197,316
==========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
The accompanying notes are an integral part of these financial statements.
104
- --------------------------------------------------------------------------------
V The following securities are considered illiquid. Illiquid securities
are often purchased in private placement transactions, are not registered
under the Securities Act of 1933, and may have contractual restrictions on
resale. A security may also be considered illiquid if it lacks a readily
available market or if its valuation has not changed for a certain period
of time.
<Table>
<Caption>
PERIOD COST
ACQUIRED SHARES/PAR SECURITY BASIS
-------- ---------- -------- -------
5/2005-
10/2005 288 European Capital -- Reg D $ 3,452
10/2005 25 Harvey Weinstein Master 25,200
L.P. -- Reg D
4/2000-
10/2004 6,325 SensAble Technologies, @@
Inc. -- Reg D
5/2005-
10/2005 2,839 U.S. Airways Group, Inc. -- 63,061
Reg D
</Table>
The aggregate value of these securities at October 31, 2005 was
$91,713, which represents 0.94% of total net assets.
M 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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at October
31, 2005, was $170,936, which represents 1.75% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
v As of October 31, 2005 the Fund has future commitments to
purchase an additional 3,312 shares in the amount of $33,120 EURO.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
-------------------------- -------------
Australia 0.9%
- ------------------------------------------------------------------
Brazil 2.6
- ------------------------------------------------------------------
Canada 2.2
- ------------------------------------------------------------------
China 0.9
- ------------------------------------------------------------------
France 0.6
- ------------------------------------------------------------------
Germany 0.0
- ------------------------------------------------------------------
Greece 0.4
- ------------------------------------------------------------------
India 0.7
- ------------------------------------------------------------------
Israel 1.2
- ------------------------------------------------------------------
Italy 1.5
- ------------------------------------------------------------------
Japan 5.2
- ------------------------------------------------------------------
Luxembourg 0.9
- ------------------------------------------------------------------
Mexico 0.9
- ------------------------------------------------------------------
South Korea 3.5
- ------------------------------------------------------------------
Switzerland 1.1
- ------------------------------------------------------------------
Taiwan 0.7
- ------------------------------------------------------------------
Turkey 0.2
- ------------------------------------------------------------------
United Kingdom 2.1
- ------------------------------------------------------------------
United States 70.5
- ------------------------------------------------------------------
Short Term Investments 10.9
- ------------------------------------------------------------------
Other Assets & Liabilities -7.0
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
British Pound Sell $11,256 $11,280 11/02/2005 $24
British Pound Sell 12,562 12,555 11/03/2005 (7)
Hong Kong Dollars Sell 2,816 2,815 11/01/2005 (1)
Hong Kong Dollars Sell 2,908 2,908 11/02/2005 --
---
$16
===
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
105
THE HARTFORD CAPITAL APPRECIATION II FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 94.8%
BASIC MATERIALS -- 10.8%
3 3M Co. ........................................... $ 228
1 Akzo Nobel N.V. +................................. 56
1 Albemarle Corp. .................................. 46
33 Alcoa, Inc. ...................................... 797
3 Aracruz Celulose S.A. ADR......................... 130
4 Arch Coal, Inc. .................................. 309
5 BHP Billiton Ltd. ADR............................. 154
23 Cameco Corp. ..................................... 1,108
3 Cemex S.A. de C.V. ADR............................ 141
4 Cie Generale d'Optique Essilor International S.A.
+............................................... 345
14 Companhia Vale do Rio Doce ADR.................... 588
3 Compania De Minas Buenaventur ADR................. 84
4 Cytec Industries, Inc. ........................... 157
9 Dow Chemical Co. ................................. 394
4 DuPont (E.I.) de Nemours & Co. ................... 179
@@ Engelhard Corp. .................................. 12
3 Freeport-McMoRan Copper & Gold, Inc. Class B...... 142
13 Gammon Lake Resources, Inc. B..................... 100
4 Glamis Gold Ltd. B................................ 94
1 Goldcorp, Inc. ................................... 14
1 Holcim Ltd. +..................................... 59
6 Huntsman Corp. B.................................. 114
17 International Uranium Corp. B..................... 78
17 Jarden Corp. B.................................... 576
4 Lyondell Chemical Co. ............................ 113
12 Michelin (C.G.D.E.) Class B +..................... 630
3 Mining and Metallurgical Co. Norilsk Nickel ADR... 219
15 Mosaic Co. B...................................... 204
4 Newmont Mining Corp. ............................. 153
2 OfficeMax, Inc. .................................. 67
7 Pactiv Corp. B.................................... 132
56 Paladin Resources Ltd. +B......................... 84
@@ Phelps Dodge Corp. ............................... 23
4 Rio Tinto plc +................................... 170
29 Sappi Ltd. ADR.................................... 283
12 Smurfit-Stone Container Corp. B................... 127
4 Tek Cominco Ltd. Class B.......................... 185
4 Temple-Inland, Inc. .............................. 147
3 Titanium Metals Corp. B........................... 118
26 UEX Corp. B....................................... 79
23 Vedanta Resources plc +........................... 229
6 Xstrata plc +..................................... 130
24 Zinifex Ltd. +B................................... 86
-------
9,084
-------
CAPITAL GOODS -- 3.3%
4 Boeing Co. ....................................... 233
5 Bucyrus International, Inc. ...................... 189
3 Caterpillar, Inc. ................................ 137
3 General Dynamics Corp. ........................... 360
10 Goodrich Corp. ................................... 364
17 Komatsu Ltd. +.................................... 227
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
CAPITAL GOODS -- (CONTINUED)
3 National Oilwell Varco, Inc. B.................... $ 171
6 Parker-Hannifin Corp. ............................ 353
13 Teradyne, Inc. B.................................. 173
9 Tyco International Ltd. .......................... 248
19 Xerox Corp. B..................................... 257
-------
2,712
-------
CONSUMER CYCLICAL -- 9.2%
15 Abercrombie & Fitch Co. Class A................... 754
10 American Axle & Manufacturing Holdings, Inc. ..... 227
25 Arris Group, Inc. B............................... 205
8 Blockbuster, Inc. Class A......................... 37
4 Carnival Corp. ................................... 179
8 CBRL Group, Inc. ................................. 267
7 Eddie Bauer Holdings, Inc. B...................... 172
32 Esprit Holdings Ltd. +............................ 227
6 Federated Department Stores, Inc. ................ 341
33 Foot Locker, Inc. ................................ 649
5 Foster Wheeler Ltd. B............................. 139
11 GameStop Corp. Class B B.......................... 369
13 Geox S.p.A. +..................................... 127
1 Hermes International +............................ 221
13 Kohl's Corp. B.................................... 631
10 Lear Corp. ....................................... 311
12 Newell Rubbermaid, Inc. .......................... 264
21 Ruby Tuesday, Inc. ............................... 456
5 Seven & I Holdings Co., Ltd. ..................... 157
7 Steven Madden Ltd. B.............................. 175
16 Tiffany & Co. .................................... 642
4 Toyota Motor Corp. +.............................. 181
11 TRW Automotive Holdings Corp. B................... 297
4 Wienerberger AG +................................. 158
8 Yum! Brands, Inc. ................................ 426
-------
7,612
-------
CONSUMER STAPLES -- 4.6%
17 Altria Group, Inc. ............................... 1,240
7 Bunge Ltd. ....................................... 343
11 Imperial Tobacco Group plc +...................... 318
@@ Japan Tobacco, Inc. +............................. 174
@@ Lindt & Spruengli AG +............................ 357
3 LVMH Moet Hennessy Louis Vuitton S.A. +........... 267
1 Nestle S.A. +..................................... 308
9 Procter & Gamble Co. ............................. 476
8 Royal Numico N.V. +B.............................. 334
-------
3,817
-------
ENERGY -- 5.9%
2 ConocoPhillips.................................... 150
2 Devon Energy Corp. ............................... 110
2 Exxon Mobil Corp. ................................ 107
8 GlobalSantaFe Corp. .............................. 374
3 Halliburton Co. .................................. 189
4 Marathon Oil Corp. ............................... 241
8 Noble Corp. ...................................... 539
1 Occidental Petroleum Corp. ....................... 103
2 Petroleo Brasileiro S.A. ADR...................... 153
</Table>
The accompanying notes are an integral part of these financial statements.
106
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
ENERGY -- (CONTINUED)
4 SK Corp. +........................................ $ 191
1 Southwestern Energy Co. B......................... 47
6 Talisman Energy, Inc. ............................ 270
6 Talisman Energy, Inc. ADR......................... 244
10 Tesoro Corp. ..................................... 581
5 Total S.A. ADR.................................... 614
1 Valero Energy Corp. .............................. 99
2 Weatherford International Ltd. B.................. 136
13 Worleyparsons Ltd. +.............................. 99
15 XTO Energy, Inc. ................................. 631
-------
4,878
-------
FINANCE -- 13.4%
17 ACE Ltd. ......................................... 881
1 Allstate Corp. ................................... 42
5 AMBAC Financial Group, Inc. ...................... 347
11 American International Group, Inc. ............... 700
28 Apollo Investment Corp. .......................... 521
19 Banco Bilbao Vizcaya Argentaria S.A. +............ 327
2 Bank Austria Creditanstalt +...................... 208
16 Bank of America Corp. ............................ 713
9 Bayerische Hypo Und Vereinsbank AG B.............. 237
9 Capital One Financial Corp. ...................... 718
41 Chardan China Acquisition B....................... 366
10 CIT Group, Inc. .................................. 462
21 Citigroup, Inc. .................................. 961
3 Everest Re Group Ltd. ............................ 341
4 Federal Home Loan Mortgage Corp. ................. 241
3 Genworth Financial, Inc. ......................... 90
4 Golden West Financial Corp. ...................... 211
3 Goldman Sachs Group, Inc. ........................ 374
5 ICICI Bank Ltd. .................................. 116
32 MBNA Corp. ....................................... 811
@@ Mitsubishi UFJ Financial Group, Inc. +............ 327
1 ORIX Corp. +...................................... 94
8 Platinum Underwriters Holdings Ltd. .............. 236
2 Reinsurance Group of America...................... 106
3 RenaissanceRe Holdings Ltd. ADR................... 117
13 Royal Bank of Scotland Group plc +................ 372
22 Shizuoka Bank Ltd. +.............................. 231
2 UBS AG............................................ 163
4 UBS AG +.......................................... 360
1 Uniao de Bancos Brasileiros S.A. GDR.............. 73
2 Unibail +......................................... 227
3 Wellpoint, Inc. B................................. 202
-------
11,175
-------
HEALTH CARE -- 17.0%
17 Amgen, Inc. B..................................... 1,295
6 Astellas Pharma, Inc. +........................... 200
15 AstraZeneca plc ADR............................... 669
9 Cardinal Health, Inc. ............................ 563
12 Cephalon, Inc. B.................................. 524
14 Covance, Inc. B................................... 686
4 Coventry Health Care, Inc. B...................... 209
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
HEALTH CARE -- (CONTINUED)
18 Digene Corp. B.................................... $ 547
14 DURECT Corp. B.................................... 87
11 Endo Pharmaceuticals Holdings, Inc. B............. 293
11 Foxhollow Technologies, Inc. B.................... 489
16 Gilead Sciences, Inc. B........................... 775
8 GlaxoSmithKline plc +............................. 202
6 GlaxoSmithKline plc ADR........................... 312
4 Health Net, Inc. B................................ 199
5 ICOS Corp. B...................................... 146
16 Lilly (Eli) & Co. ................................ 772
16 Medtronic, Inc. .................................. 895
11 Mentor Corp. ..................................... 473
3 Omnicare, Inc. ................................... 140
8 Panacos Pharmaceuticals, Inc. B................... 62
3 Pfizer, Inc. ..................................... 63
12 Pharmaceutical Product Development, Inc. ......... 672
3 Roche Holding AG +................................ 444
6 Sanofi-Aventis S.A. +............................. 475
13 Sanofi-Aventis S.A. ADR........................... 530
59 Schering-Plough Corp. ............................ 1,198
46 Shionogi & Co., Ltd. +............................ 560
9 Teva Pharmaceutical Industries Ltd. ADR........... 345
7 Wyeth............................................. 298
-------
14,123
-------
SERVICES -- 4.4%
10 Cablevision Systems Corp. B....................... 241
3 Comcast Corp. Class A B........................... 79
14 Comcast Corp. Special Class A B................... 384
10 Dex Media, Inc. .................................. 280
24 LECG Corp. B...................................... 526
4 Liberty Global, Inc. Class A B.................... 104
5 Liberty Global, Inc. Class C B.................... 121
1 Opap S.A. M+...................................... 16
2 Opap S.A. +....................................... 50
6 Pixar Animation Studios B......................... 320
@@ R.H. Donnelley Corp. B............................ 19
14 Starwood Hotels & Resorts Worldwide, Inc. ........ 800
6 Team, Inc. B...................................... 165
46 Unisys Corp. B.................................... 234
5 Walt Disney Co. .................................. 114
6 XM Satellite Radio Holdings, Inc. Class A B....... 173
-------
3,626
-------
TECHNOLOGY -- 21.5%
3 America Movil S.A. de C.V. ADR.................... 80
6 Apple Computer, Inc. B............................ 364
5 Applied Materials, Inc. .......................... 80
9 Arrow Electronics, Inc. B......................... 266
26 AU Optronics Corp. ADR............................ 336
29 Cinram International, Inc. ....................... 586
47 Cisco Systems, Inc. B............................. 824
64 Corning, Inc. B................................... 1,279
5 Electronic Arts, Inc. B........................... 290
24 EMC Corp. B....................................... 328
12 F5 Networks, Inc. B............................... 630
</Table>
The accompanying notes are an integral part of these financial statements.
107
THE HARTFORD CAPITAL APPRECIATION II FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
16 Fairchild Semiconductor International, Inc. B..... $ 239
3 First Data Corp. ................................. 117
13 Flextronics International Ltd. B.................. 118
27 General Electric Co. ............................. 905
2 Google, Inc. B.................................... 897
4 Hewlett-Packard Co. .............................. 107
9 Koninklijke (Royal) Philips Electronics N.V. +.... 227
3 Lam Research Corp. B.............................. 115
61 Microsoft Corp. .................................. 1,565
5 Mobile Telesystems OJSC ADR....................... 200
5 Motorola, Inc. ................................... 106
28 PhotoMedex, Inc. B................................ 60
2 QLogic Corp. B.................................... 52
28 Red Hat, Inc. B................................... 650
1 Samsung Electronics Co., Ltd. +................... 609
1 Samsung Electronics Co., Ltd. GDR................. 254
16 Seagate Technology................................ 225
28 Siebel Systems, Inc. ............................. 287
33 Smiths Group plc +................................ 529
4 Sony Corp. ADR.................................... 141
18 Sprint Nextel Corp. .............................. 430
9 Tektronix, Inc. .................................. 216
96 Telefonaktiebolaget LM Ericsson +................. 314
3 Telefonaktiebolaget LM Ericsson ADR............... 83
11 Telefonica S.A. +................................. 175
32 THQ, Inc. B....................................... 751
22 Time Warner, Inc. ................................ 396
8 Turkcell Iletisim Hizmet ADR...................... 112
5 Varian Semiconductor Equipment Associates, Inc.
B............................................... 189
47 Verifone Holdings, Inc. B......................... 1,090
14 Verint Systems, Inc. B............................ 517
6 Vishay Intertechnology, Inc. B.................... 70
2 Whirlpool Corp. .................................. 159
24 Yahoo!, Inc. B.................................... 902
-------
17,870
-------
TRANSPORTATION -- 3.3%
5 ACE Aviation Holdings, Inc. B..................... 126
7 AirTran Holdings, Inc. B.......................... 111
10 AMR Corp. B....................................... 134
1 Arkansas Best Corp. .............................. 35
8 Canadian Pacific Railway Ltd. .................... 321
11 Continental Airlines, Inc. B...................... 140
2 Freighter America, Inc. .......................... 99
20 GOL Linhas Aereas Inteligentes S.A. ADR........... 682
11 Knight Transportation, Inc. ...................... 305
5 Pinnacle Airlines Corp. B......................... 34
11 US Airways Group, Inc. B.......................... 271
12 Yellow Roadway Corp. B............................ 527
-------
2,785
-------
UTILITIES -- 1.4%
3 Companhia Energetica de Minas Gerais ADR.......... 124
2 Constellation Energy Group, Inc. ................. 111
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
UTILITIES -- (CONTINUED)
6 Exelon Corp. ..................................... $ 302
19 Fortum +.......................................... 333
34 Santos Ltd. +..................................... 276
-------
1,146
-------
Total common stock
(cost $77,450).................................. $78,828
-------
PREFERRED STOCKS -- 0.2%
ENERGY -- 0.2%
4 Petroleo Brasileiro S.A. ADR...................... $ 202
-------
Total preferred stocks
(cost $170)..................................... $ 202
-------
Total long-term investments
(cost $77,620).................................. $79,030
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 4.2%
REPURCHASE AGREEMENTS -- 4.2%
$ 117 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 117
1,291 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,291
827 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 827
1,223 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 1,223
-------
Total short-term investments
(cost $3,458)................................... $ 3,458
-------
Total investments in securities
(cost $81,078) O................................ $82,488
=======
</Table>
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 26.37% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $11,534, which represents 13.87% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $81,211 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 3,358
Unrealized depreciation......................... (2,081)
-------
Net unrealized appreciation..................... $ 1,277
=======
</Table>
B Currently non-income producing.
The accompanying notes are an integral part of these financial statements.
108
- --------------------------------------------------------------------------------
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $16, which represents $@@ of total
net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Australia 0.8%
- ------------------------------------------------------------------
Austria 0.4
- ------------------------------------------------------------------
Bermuda 0.2
- ------------------------------------------------------------------
Brazil 2.3
- ------------------------------------------------------------------
Canada 3.9
- ------------------------------------------------------------------
Finland 0.4
- ------------------------------------------------------------------
France 4.0
- ------------------------------------------------------------------
Germany 0.3
- ------------------------------------------------------------------
Greece 0.1
- ------------------------------------------------------------------
Hong Kong 0.3
- ------------------------------------------------------------------
India 0.1
- ------------------------------------------------------------------
Israel 0.4
- ------------------------------------------------------------------
Italy 0.1
- ------------------------------------------------------------------
Japan 2.8
- ------------------------------------------------------------------
Mexico 0.3
- ------------------------------------------------------------------
Netherlands 0.7
- ------------------------------------------------------------------
Peru 0.1
- ------------------------------------------------------------------
Russia 0.5
- ------------------------------------------------------------------
Singapore 0.1
- ------------------------------------------------------------------
South Africa 0.2
- ------------------------------------------------------------------
South Korea 1.3
- ------------------------------------------------------------------
Spain 0.6
- ------------------------------------------------------------------
Sweden 0.5
- ------------------------------------------------------------------
Switzerland 2.0
- ------------------------------------------------------------------
Taiwan 0.4
- ------------------------------------------------------------------
Turkey 0.1
- ------------------------------------------------------------------
United Kingdom 3.5
- ------------------------------------------------------------------
United States 68.6
- ------------------------------------------------------------------
Short Term Investments 4.2
- ------------------------------------------------------------------
Other Assets & Liabilities 0.8
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Australian Dollar Buy $ 7 $ 7 11/03/2005 $ @@
Canadian Dollar Buy 9 9 11/01/2005 @@
Canadian Dollar Buy 8 8 11/01/2005 @@
Swiss Francs Buy 4 4 11/01/2005 @@
Swiss Francs Buy 64 64 11/03/2005 @@
Euro Buy 5 5 11/02/2005 @@
Euro Buy 1 1 11/03/2005 @@
Euro Sell 67 67 11/03/2005 @@
British Pound Buy 7 7 11/01/2005 @@
British Pound Buy 6 6 11/02/2005 @@
British Pound Buy 57 57 11/03/2005 @@
Hong Kong Dollars Sell 8 8 11/01/2005 @@
Hong Kong Dollars Sell 9 9 11/02/2005 @@
-----
$ @@
=====
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares, percentage and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
109
THE HARTFORD CONSERVATIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 99.5%
EQUITY FUNDS -- 40.0%
234 Hartford Capital Appreciation Fund, Class Y B..... $ 9,013
370 Hartford Disciplined Equity Fund, Class Y......... 4,490
194 Hartford Global Leaders Fund, Class Y B........... 3,393
275 Hartford International Capital Appreciation Fund,
Class Y B....................................... 3,386
156 Hartford International Small Company Fund, Class
Y............................................... 2,250
333 Hartford MidCap Value Fund, Class Y............... 4,519
79 Hartford SmallCap Growth Fund, Class Y B.......... 2,270
468 Hartford Stock Fund, Class Y...................... 8,978
429 Hartford Value Opportunities Fund, Class Y B...... 6,757
--------
Total equity funds
(cost $42,499).................................. $ 45,056
--------
FIXED INCOME FUNDS -- 56.0%
166 Hartford Floating Rate Fund, Class Y.............. $ 1,673
1,006 Hartford High Yield Fund, Class Y................. 7,798
218 Hartford Income Fund, Class Y..................... 2,230
1,568 Hartford Inflation Plus Fund, Class Y............. 16,742
1,925 Hartford Short Duration Fund, Class Y............. 18,939
1,454 Hartford Total Return Bond Fund, Class Y.......... 15,597
--------
Total fixed income funds
(cost $64,275).................................. $ 62,979
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
MONEY MARKET FUND -- 3.5%
3,889 Hartford Money Market Fund, Class Y............... $ 3,889
--------
Total money market fund
(cost $3,889)................................... $ 3,889
--------
Total investments in affiliated
investment companies
(cost $110,663) O............................... $111,924
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $110,791 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 2,427
Unrealized depreciation......................... (1,294)
-------
Net unrealized appreciation..................... $ 1,133
=======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
110
THE HARTFORD DISCIPLINED EQUITY FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 100.1%
BASIC MATERIALS -- 2.9%
48 3M Co. ........................................... $ 3,624
123 Kimberly-Clark Corp. ............................. 6,997
--------
10,621
--------
CAPITAL GOODS -- 5.9%
65 Caterpillar, Inc. ................................ 3,397
37 General Dynamics Corp. ........................... 4,280
188 Ingersoll-Rand Co. Class A........................ 7,112
71 Parker-Hannifin Corp. ............................ 4,469
54 Pitney Bowes, Inc. ............................... 2,264
--------
21,522
--------
CONSUMER CYCLICAL -- 6.8%
58 Abercrombie & Fitch Co. Class A................... 3,026
39 Centex Corp. ..................................... 2,513
185 D.R. Horton, Inc. ................................ 5,675
69 Federated Department Stores, Inc. ................ 4,216
139 Michaels Stores, Inc. ............................ 4,585
139 Supervalu, Inc. .................................. 4,369
9 V.F. Corp. ....................................... 486
--------
24,870
--------
CONSUMER STAPLES -- 9.4%
172 Altria Group, Inc. ............................... 12,886
109 Archer Daniels Midland Co. ....................... 2,647
125 General Mills, Inc. .............................. 6,047
48 Procter & Gamble Co. ............................. 2,669
95 UST, Inc. ........................................ 3,915
100 Weyerhaeuser Co. ................................. 6,328
--------
34,492
--------
ENERGY -- 11.5%
102 Chevron Corp. .................................... 5,838
176 ConocoPhillips.................................... 11,487
56 Devon Energy Corp. ............................... 3,369
86 Exxon Mobil Corp. ................................ 4,845
112 Occidental Petroleum Corp. ....................... 8,803
71 Valero Energy Corp. .............................. 7,504
--------
41,846
--------
FINANCE -- 21.0%
123 ACE Ltd. ......................................... 6,398
29 Aetna, Inc. ...................................... 2,604
311 Bank of America Corp. ............................ 13,621
97 Capital One Financial Corp. ...................... 7,406
347 Citigroup, Inc. .................................. 15,888
81 Countrywide Financial Corp. ...................... 2,561
30 Everest Re Group Ltd. ............................ 2,964
39 Federal Home Loan Mortgage Corp. ................. 2,380
50 Lehman Brothers Holdings, Inc. ................... 6,007
75 MBIA, Inc. ....................................... 4,374
187 St. Paul Travelers Cos., Inc. .................... 8,402
68 UnitedHealth Group, Inc. ......................... 3,919
--------
76,524
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
HEALTH CARE -- 13.4%
110 Abbott Laboratories............................... $ 4,736
69 Amgen, Inc. B..................................... 5,250
63 Cardinal Health, Inc. ............................ 3,907
20 Cephalon, Inc. B.................................. 894
48 Forest Laboratories, Inc. B....................... 1,808
83 Genzyme Corp. B................................... 6,015
71 Gilead Sciences, Inc. B........................... 3,336
147 HCA, Inc. ........................................ 7,070
192 King Pharmaceuticals, Inc. B...................... 2,964
154 McKesson Corp. ................................... 7,014
133 Pfizer, Inc. ..................................... 2,886
65 Wyeth............................................. 2,896
--------
48,776
--------
SERVICES -- 5.9%
148 Accenture Ltd. Class A............................ 3,889
97 Cendant Corp. .................................... 1,686
53 Comcast Corp. Class A B........................... 1,476
43 Omnicom Group, Inc. .............................. 3,542
158 Viacom, Inc. Class B.............................. 4,903
153 Waste Management, Inc. ........................... 4,500
48 XM Satellite Radio Holdings, Inc. Class A B....... 1,387
--------
21,383
--------
TECHNOLOGY -- 21.6%
72 Alltel Corp. ..................................... 4,479
39 CenturyTel, Inc. ................................. 1,280
425 Cisco Systems, Inc. B............................. 7,413
@@ Computer Associates International, Inc. .......... 1
143 Dell, Inc. B...................................... 4,565
150 First Data Corp. ................................. 6,071
141 General Electric Co. ............................. 4,785
422 Intel Corp. ...................................... 9,912
77 International Business Machines Corp. ............ 6,338
595 Microsoft Corp. .................................. 15,284
466 Oracle Corp. B.................................... 5,909
195 Sprint Nextel Corp. .............................. 4,552
21 Texas Instruments, Inc. .......................... 604
417 Time Warner, Inc. ................................ 7,438
--------
78,631
--------
UTILITIES -- 1.7%
63 Exelon Corp. ..................................... 3,269
84 PG&E Corp. ....................................... 3,059
--------
6,328
--------
Total common stock
(cost $334,128)................................. $364,993
--------
Total investments in securities
(cost $334,128) O............................... $364,993
========
</Table>
The accompanying notes are an integral part of these financial statements.
111
THE HARTFORD DISCIPLINED EQUITY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $334,833 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 40,545
Unrealized depreciation........................ (10,385)
--------
Net unrealized appreciation.................... $ 30,160
========
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
112
THE HARTFORD DIVIDEND & GROWTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 96.6%
BASIC MATERIALS -- 8.1%
1,366 Alcoa, Inc. ...................................... $ 33,185
213 Bowater, Inc. .................................... 5,631
591 Companhia Vale do Rio Doce ADR.................... 24,439
1,411 DuPont (E.I.) de Nemours & Co. ................... 58,831
896 International Paper Co. .......................... 26,140
541 Kimberly-Clark Corp. ............................. 30,745
209 Rio Tinto plc ADR................................. 31,852
478 Rohm & Haas Co. .................................. 20,794
----------
231,617
----------
CAPITAL GOODS -- 6.5%
283 Caterpillar, Inc. ................................ 14,883
499 Deere & Co. ...................................... 30,255
348 General Dynamics Corp. ........................... 40,496
510 Parker-Hannifin Corp. ............................ 31,961
467 Pitney Bowes, Inc. ............................... 19,630
411 United Technologies Corp. ........................ 21,071
1,905 Xerox Corp. BH.................................... 25,845
----------
184,141
----------
CONSUMER CYCLICAL -- 4.0%
376 Avery Dennison Corp. ............................. 21,295
770 Family Dollar Stores, Inc. ....................... 17,055
223 Genuine Parts Co. ................................ 9,912
658 Limited Brands, Inc. ............................. 13,159
1,303 McDonald's Corp. ................................. 41,187
245 Wal-Mart Stores, Inc. H........................... 11,572
----------
114,180
----------
CONSUMER STAPLES -- 7.9%
746 Altria Group, Inc. ............................... 56,010
106 Bunge Ltd. ....................................... 5,490
803 Coca-Cola Co. .................................... 34,357
450 Coca-Cola Enterprises, Inc. ...................... 8,499
172 Colgate-Palmolive Co. ............................ 9,125
373 General Mills, Inc. .............................. 18,015
708 Procter & Gamble Co. ............................. 39,653
592 Tyson Foods, Inc. Class A......................... 10,538
663 Weyerhaeuser Co. ................................. 42,001
----------
223,688
----------
ENERGY -- 16.5%
318 Anadarko Petroleum Corp. ......................... 28,810
655 BP plc ADR........................................ 43,465
1,328 Chevron Corp. .................................... 75,772
318 ConocoPhillips.................................... 20,771
1,160 EnCana Corp. ..................................... 53,175
1,679 Exxon Mobil Corp. ................................ 94,232
128 Occidental Petroleum Corp. ....................... 10,113
675 Royal Dutch Shell plc............................. 41,877
335 Schlumberger Ltd. H............................... 30,444
566 Total S.A. ADR H.................................. 71,365
----------
470,024
----------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- 17.2%
435 ACE Ltd. H........................................ $ 22,684
592 American International Group, Inc. ............... 38,355
1,609 Bank of America Corp. ............................ 70,369
1,687 Citigroup, Inc. .................................. 77,249
476 Federal Home Loan Mortgage Corp. ................. 29,184
687 J.P. Morgan Chase & Co. .......................... 25,141
539 Marsh & McLennan Cos., Inc. H..................... 15,697
415 MBIA, Inc. H...................................... 24,155
1,041 MBNA Corp. ....................................... 26,618
570 Merrill Lynch & Co., Inc. ........................ 36,889
445 Metlife, Inc. .................................... 21,983
268 PNC Financial Services Group, Inc. ............... 16,270
654 State Street Corp. ............................... 36,121
763 Synovus Financial Corp. .......................... 20,963
340 UBS AG............................................ 29,128
----------
490,806
----------
HEALTH CARE -- 8.2%
1,262 Abbott Laboratories............................... 54,329
498 AstraZeneca plc ADR............................... 22,338
320 Baxter International, Inc. ....................... 12,215
928 Lilly (Eli) & Co. ................................ 46,205
343 Novartis AG ADR................................... 18,449
814 Pfizer, Inc. ..................................... 17,698
1,907 Schering-Plough Corp. ............................ 38,782
555 Wyeth............................................. 24,740
----------
234,756
----------
SERVICES -- 4.2%
450 Accenture Ltd. Class A............................ 11,832
709 Comcast Corp. Class A B........................... 19,730
507 Comcast Corp. Special Class A B................... 13,883
544 New York Times Co. Class A........................ 14,824
528 Viacom, Inc. Class B.............................. 16,337
360 Warner Music Group Corp. ......................... 5,582
1,232 Waste Management, Inc. ........................... 36,350
----------
118,538
----------
TECHNOLOGY -- 15.4%
403 BellSouth Corp. .................................. 10,481
768 EMC Corp./Massachusetts B......................... 10,714
203 Emerson Electric Co. ............................. 14,105
459 First Data Corp. ................................. 18,579
2,012 General Electric Co. ............................. 68,237
608 International Business Machines Corp. ............ 49,775
1,983 Microsoft Corp. .................................. 50,961
1,800 Motorola, Inc. ................................... 39,897
2,159 SBC Communications, Inc. H........................ 51,497
1,079 Sprint Nextel Corp. .............................. 25,144
271 Texas Instruments, Inc. .......................... 7,728
1,929 Time Warner, Inc. ................................ 34,385
937 Verizon Communications, Inc. ..................... 29,526
369 Whirlpool Corp. .................................. 28,982
----------
440,011
----------
</Table>
The accompanying notes are an integral part of these financial statements.
113
THE HARTFORD DIVIDEND & GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- 3.5%
781 CSX Corp. ........................................ $ 35,791
215 Norfolk Southern Corp. ........................... 8,639
1,238 Southwest Airlines Co. ........................... 19,814
494 Union Pacific Corp. .............................. 34,154
----------
98,398
----------
UTILITIES -- 5.1%
328 Dominion Resources, Inc. ......................... 24,962
1,006 Exelon Corp. ..................................... 52,336
755 FPL Group, Inc. .................................. 32,493
376 Pinnacle West Capital Corp. ...................... 15,706
482 Progress Energy, Inc. ............................ 20,997
----------
146,494
----------
Total common stock
(cost $2,405,143)............................... $2,752,653
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 6.6%
REPURCHASE AGREEMENTS -- 3.4%
$ 3,229 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 3,229
35,757 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 35,757
22,897 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 22,897
33,875 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 33,875
----------
95,758
----------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITIES LENDING -- 3.2%
91,818 BNY Institutional Cash Reserve Fund............... 91,818
----------
Total short-term investments
(cost $187,576)................................. $ 187,576
----------
Total investments in securities
(cost $2,592,719) O............................. $2,940,229
==========
</Table>
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 11.80% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $2,598,077 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $418,391
Unrealized depreciation........................ (76,239)
--------
Net unrealized appreciation.................... $342,152
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
114
THE HARTFORD EQUITY INCOME FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.8%
BASIC MATERIALS -- 9.4%
77 Air Products and Chemicals, Inc. ................. $ 4,408
296 Alcoa, Inc. ...................................... 7,182
298 Dow Chemical Co. ................................. 13,681
165 DuPont (E.I.) de Nemours & Co. ................... 6,866
113 Kimberly-Clark Corp. ............................. 6,430
90 PPG Industries, Inc. ............................. 5,423
--------
43,990
--------
CAPITAL GOODS -- 6.1%
437 Caterpillar, Inc. ................................ 23,002
106 Rockwell Automation, Inc. ........................ 5,655
--------
28,657
--------
CONSUMER STAPLES -- 10.6%
175 Altria Group, Inc. ............................... 13,164
160 Campbell Soup Co. ................................ 4,647
88 Colgate-Palmolive Co. ............................ 4,666
63 Diageo plc ADR.................................... 3,720
104 General Mills, Inc. .............................. 5,020
63 Heinz (H.J.) Co. ................................. 2,234
166 Kellogg Co. ...................................... 7,317
82 PepsiCo, Inc. .................................... 4,839
60 Weyerhaeuser Co. ................................. 3,775
--------
49,382
--------
ENERGY -- 12.4%
145 BP plc ADR........................................ 9,648
356 ConocoPhillips.................................... 23,299
368 Exxon Mobil Corp. ................................ 20,683
69 Royal Dutch Shell plc ADR......................... 4,508
--------
58,138
--------
FINANCE -- 31.1%
132 ACE Ltd. ......................................... 6,862
88 Allstate Corp. ................................... 4,630
473 Bank of America Corp. ............................ 20,706
99 Chubb Corp. ...................................... 9,197
452 Citigroup, Inc. .................................. 20,679
69 Comerica, Inc. ................................... 3,993
32 General Growth Properties, Inc. .................. 1,372
265 J.P. Morgan Chase & Co. .......................... 9,715
113 MBNA Corp. ....................................... 2,897
172 Merrill Lynch & Co., Inc. ........................ 11,158
234 National City Corp. .............................. 7,542
172 PNC Financial Services Group, Inc. ............... 10,456
194 SunTrust Banks, Inc. ............................. 14,038
211 U.S. Bancorp...................................... 6,232
92 Wachovia Corp. ................................... 4,641
67 Washington Mutual, Inc. .......................... 2,650
143 Wells Fargo & Co. ................................ 8,602
--------
145,370
--------
HEALTH CARE -- 7.6%
161 Abbott Laboratories............................... 6,914
102 AstraZeneca plc ADR............................... 4,589
189 Baxter International, Inc. ....................... 7,209
223 Pfizer, Inc. ..................................... 4,854
271 Wyeth............................................. 12,056
--------
35,622
--------
SERVICES -- 0.9%
63 Gannett Co., Inc. ................................ 3,943
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
TECHNOLOGY -- 8.3%
136 AT&T Corp. ....................................... $ 2,688
236 BellSouth Corp. .................................. 6,142
248 General Electric Co. ............................. 8,396
524 SBC Communications, Inc. ......................... 12,489
221 Sprint Nextel Corp. .............................. 5,152
131 Verizon Communications, Inc. ..................... 4,142
--------
39,009
--------
UTILITIES -- 12.4%
127 Consolidated Edison, Inc. ........................ 5,769
46 Constellation Energy Group, Inc. ................. 2,532
191 Dominion Resources, Inc. ......................... 14,554
31 Entergy Corp. .................................... 2,164
130 Exelon Corp. ..................................... 6,738
287 FPL Group, Inc. .................................. 12,360
29 PPL Corp. ........................................ 918
113 SCANA Corp. ...................................... 4,479
134 Southern Co. ..................................... 4,675
39 TXU Corp. ........................................ 3,970
--------
58,159
--------
Total common stock
(cost $433,411)................................. $462,270
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 2.7%
REPURCHASE AGREEMENTS -- 2.7%
$ 429 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 429
4,751 Bank of America Triparty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 4,751
3,042 J.P. Morgan Chase Triparty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 3,042
4,501 UBS Securities, Inc. Triparty Repurchase
Agreement,
4.03%, 11/01/2005............................... 4,501
--------
Total short-term investments
(cost $12,723).................................. $ 12,723
--------
Total investments in securities
(cost $446,134) O............................... $474,993
========
</Table>
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 4.80% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $446,203 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 39,186
Unrealized depreciation........................ (10,396)
--------
Net unrealized appreciation.................... $ 28,790
========
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
115
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 0.5%
FINANCE -- 0.5%
$1,500 Lehman Brothers Commercial Mortgage Corp., 5.62%,
07/15/2019 MK................................... $ 1,500
--------
Total asset and commercial mortgage
backed securities
(cost $1,500)................................... $ 1,500
--------
CORPORATE BONDS: INVESTMENT GRADE -- 3.9%
BASIC MATERIALS -- 0.7%
$2,000 Bowater, Inc.,
6.87%, 03/15/2010 K............................. $ 1,950
--------
FINANCE -- 0.5%
1,500 Ford Motor Credit Co.,
5.72%, 01/15/2010 K............................. 1,362
--------
SERVICES -- 1.6%
3,000 Cablevision Systems Corp.,
8.72%, 04/01/2009 K............................. 3,068
1,500 Primedia, Inc.,
9.17%, 05/15/2010 K............................. 1,504
--------
4,572
--------
TECHNOLOGY -- 0.4%
1,000 Time Warner Telecom Holdings, Inc.,
7.79%, 02/15/2011 K............................. 1,020
--------
UTILITIES -- 0.7%
2,000 Calpine Generating Co.,
7.61%, 04/01/2009 K............................. 2,040
--------
Total corporate bonds: investment grade
(cost $11,163).................................. $ 10,944
--------
CORPORATE BONDS: NON-INVESTMENT GRADE -- 9.0%
BASIC MATERIALS -- 2.6%
$2,000 Abitibi Consolidated, Inc.,
7.37%, 06/15/2011 K............................. $ 1,880
2,000 Airgas, Inc.,
9.125%, 10/01/2011.............................. 2,123
2,000 Lyondell Chemical Co.,
11.125%, 07/15/2012............................. 2,230
1,000 Nova Chemicals Corp.,
7.56%, 11/15/2013 MK............................ 1,009
--------
7,242
--------
CONSUMER CYCLICAL -- 1.4%
2,000 GSC Holdings Corp.,
7.88%, 10/01/2011 K............................. 2,000
2,000 Levi Strauss & Co.,
8.80%, 04/01/2012 K............................. 1,985
--------
3,985
--------
FINANCE -- 0.5%
1,510 Chukchansi Economic Development Authority,
7.76%, 11/15/2012 MK*........................... 1,510
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
HEALTH CARE -- 0.5%
$1,500 Insight Health Services,
9.17%, 11/01/2011 MK............................ $ 1,429
--------
SERVICES -- 0.8%
2,000 Aztar Corp.,
9.00%, 08/15/2011............................... 2,115
--------
TECHNOLOGY -- 3.2%
2,000 Dobson Cellular Systems,
8.375%, 11/01/2011.............................. 2,085
1,000 Dobson Cellular Systems,
8.44%, 11/01/2011 K............................. 1,038
2,000 MCI, Inc.,
7.69%, 05/01/2009............................... 2,072
2,390 Qwest Corp.,
7.12%, 06/15/2013 MK............................ 2,521
1,000 Qwest Services Corp.,
13.50%, 12/15/2010.............................. 1,143
--------
8,859
--------
Total corporate bonds: non-investment grade
(cost $25,360).................................. $ 25,140
--------
SENIOR FLOATING RATE LOAN INTERESTS X -- 81.6%
BASIC MATERIALS -- 11.3%
$ 125 Basell Finance Co., Term Loan B4,
6.58%, 09/15/2013 Z............................. $ 127
625 Basell Finance Co., Term Loan B2,
6.58%, 09/15/2013 Z............................. 633
625 Basell Finance Co., Term Loan C2,
7.24%, 09/15/2013 Z............................. 633
125 Basell Finance Co., Term Loan C4,
7.24%, 09/15/2013 Z............................. 127
1,500 Carl Zeiss Vision,
7.45%, 04/13/2014 Z............................. 1,507
998 Coffeyville Resources,
6.56%, 07/05/2012 Z............................. 1,013
3,000 Eastman Kodak Co.,
6.45%, 10/19/2012 Z............................. 2,986
2,000 Goodyear Tire & Rubber,
7.06%, 04/30/2010 Z............................. 2,014
1,500 Goodyear Tire & Rubber,
7.81%, 04/30/2010 Z............................. 1,482
1,997 Graham Packaging Co. L.P.,
6.46%, 10/07/2011 Z*............................ 2,020
1,500 Graham Packaging Co. L.P.,
8.15%, 04/07/2012 Z............................. 1,524
2,000 Graphic Packaging,
6.41%, 08/08/2010 Z............................. 2,015
838 Hexion Specialty Chemicals,
6.38%, 05/31/2012 Z............................. 847
1,157 Hexion Specialty Chemicals,
6.56%, 05/31/2012 Z............................. 1,170
3,000 Huntsman International, Inc.,
5.68%, 08/16/2012 Z............................. 3,016
974 Innophos, Inc.,
6.15%, 08/01/2010 Z............................. 984
</Table>
The accompanying notes are an integral part of these financial statements.
116
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SENIOR FLOATING RATE LOAN INTERESTS X -- (continued)
BASIC MATERIALS -- (CONTINUED)
$ 998 Jarden Corp.,
5.69%, 01/24/2012 Z............................. $ 1,000
1,995 Jarden Corp.,
5.95%, 01/24/2012 Z............................. 2,008
1,000 Mega Bloks, Inc.,
5.75%, 07/26/2012 Z............................. 1,012
2,000 Mueller Group, Inc.,
6.35%, 10/03/2012 Z............................. 2,027
2,090 Smurfit-Stone Container Enterprises, Inc.,
5.65%, 11/01/2010 Z............................. 2,114
262 Smurfit-Stone Container Enterprises, Inc.,
5.70%, 11/01/2010 Z............................. 265
643 Smurfit-Stone Container Enterprises, Inc.,
5.80%, 11/01/2011 Z............................. 650
342 Trimas Corp.,
7.61%, 12/31/2009 Z............................. 342
--------
31,516
--------
CAPITAL GOODS -- 2.0%
1,000 ACCO Brands Corp.,
5.73%, 08/15/2012 Z............................. 1,011
1,000 Chart Industries, Inc.,
6.06%, 10/17/2012 Z............................. 1,011
1,496 Mid-Western Aircraft Systems, Inc.,
6.41%, 12/31/2011 Z............................. 1,513
2,000 Visant Holding Corp.,
5.84%, 10/04/2011 Z............................. 2,025
--------
5,560
--------
CONSUMER CYCLICAL -- 11.2%
500 Axletech International,
8.00%, 10/20/2012 Z............................. 506
1,000 Axletech International,
12.25%, 04/20/2013 Z............................ 1,008
1,000 BI-LO LLC,
7.94%, 06/30/2011 Z............................. 1,001
499 Brand Services, Inc.,
7.22%, 01/15/2012 Z............................. 504
2,000 Collins & Aikman,
6.97%, 05/17/2007 Z............................. 2,020
1,936 Custom Building Products,
6.22%, 10/20/2011 Z............................. 1,943
998 Euramax International, Inc.,
6.38%, 06/29/2012 Z............................. 993
991 Hayez Lemmerz International, Inc.,
7.14%, 06/03/2009 Z............................. 987
2,000 Jean Coutu Group,
6.42%, 07/30/2011 Z............................. 2,021
1,495 Masonite International Corp., U.S. Term Loan,
6.20%, 04/30/2010 Z............................. 1,490
1,492 Masonite International Corp., Canadian Term Loan,
6.20%, 04/30/2010 Z............................. 1,489
2,000 NCI Building Systems, Inc.,
4.90%, 06/18/2010 Z*............................ 2,005
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CONSUMER CYCLICAL -- (CONTINUED)
$3,500 Neiman Marcus Group,
6.48%, 04/06/2013 Z............................. $ 3,515
2,975 Nortek, Inc.,
5.84%, 08/27/2011 Z............................. 3,003
1,000 RJ Tower Corp.,
7.24%, 02/02/2007 Z............................. 1,010
2,000 Spectrum Brands, Inc.,
5.96%, 02/06/2012 Z*............................ 2,004
2,494 Spring Industries,
7.05%, 12/07/2010?.............................. 2,494
1,500 Tensar Corp.,
7.00%, 10/28/2012 Z*............................ 1,508
998 United Subcontractors, Inc.,
6.61%, 07/14/2012 Z............................. 1,007
500 Walter Industries, Inc.,
6.04%, 10/03/2012 Z............................. 507
--------
31,015
--------
CONSUMER STAPLES -- 4.6%
750 American Seafoods Group,
0.50%, 09/30/2012 Z*............................ 752
1,375 American Seafoods Group,
5.84%, 09/30/2011 Z............................. 1,392
1,382 Birds Eye Foods, Inc.,
6.75%, 08/19/2008 Z............................. 1,394
598 Chiquita Brands,
6.57%, 06/28/2012 Z............................. 607
3,000 Dole Foods,
9.14%, 07/22/2010 Z............................. 3,090
2,000 Johnsondiversey, Inc.,
5.41%, 11/03/2009 Z*............................ 2,016
1,995 New Page Corp.,
6.58%, 05/02/2011 Z............................. 2,010
500 Otis Spunkmeyer, Inc.,
6.80%, 08/26/2012 Z............................. 504
960 Pinnacle Foods Corp.,
7.29%, 11/25/2010 Z............................. 972
--------
12,737
--------
ENERGY -- 3.1%
1,000 Alpha Natural Resources,
5.70%, 10/26/2012 Z............................. 1,002
1,012 Invensys plc,
8.31%, 09/05/2009 Z............................. 1,038
1,496 Kerr McGee Corp.,
6.51%, 05/18/2011 Z............................. 1,498
1,460 Semcrude L.P.,
6.44%, 03/01/2011 Z............................. 1,474
2,067 Targa Resources, Inc.,
6.33%, 10/31/2012 Z*............................ 2,074
933 Targa Resources, Inc.,
6.34%, 10/31/2007 Z*............................ 936
500 Universal Compression,
5.59%, 02/15/2012 Z............................. 506
--------
8,528
--------
</Table>
The accompanying notes are an integral part of these financial statements.
117
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SENIOR FLOATING RATE LOAN INTERESTS X -- (continued)
FINANCE -- 7.3%
$1,997 General Growth Properties,
6.01%, 11/12/2008 Z............................. $ 2,017
2,812 Lion Gables Realty L.P.,
5.63%, 09/30/2006 Z............................. 2,823
3,500 LNR Properties Corp.,
6.66%, 02/03/2008 Z............................. 3,520
976 Newkirk Master L.P.,
5.99%, 08/10/2012 Z............................. 988
1,000 Pivotal Promontory LLC,
6.83%, 08/30/2010 Z............................. 1,000
2,500 Residential Capital Corp.,
5.33%, 07/28/2008 Z............................. 2,463
2,000 Technical Olympic,
6.56%, 08/01/2012 Z............................. 2,020
580 United Rentals, Inc.,
6.05%, 02/14/2011 Z*............................ 584
2,862 United Rentals, Inc.,
6.25%, 02/14/2011 Z*............................ 2,883
2,000 Yellowstone Club,
6.46%, 10/03/2010 Z............................. 2,020
--------
20,318
--------
HEALTH CARE -- 5.9%
2,000 Healthsouth Corp.,
8.97%, 06/15/2010 Z............................. 2,003
2,000 Healthtronics, Inc.,
5.85%, 03/23/2011 Z............................. 1,998
1,972 Knowledge Learning Corp.,
6.53%, 01/07/2012 Z............................. 1,976
1,500 Lifecare Holdings, Inc.,
6.13%, 08/11/2012 Z............................. 1,399
2,500 Renal Advantage, Inc.,
6.40%, 10/05/2012 Z*............................ 2,525
1,995 Select Medical Corp.,
5.54%, 02/24/2012 Z............................. 1,994
1,496 Skilled Healthcare Group, Inc.,
6.78%, 06/15/2012 Z............................. 1,512
331 Warner Chilcott Corp.,
1.36%, 01/18/2012 Z*............................ 332
1,635 Warner Chilcott Corp.,
6.54%, 01/18/2012 Z............................. 1,641
659 Warner Chilcott Corp., Term Loan C,
6.70%, 01/18/2005 Z............................. 661
304 Warner Chilcott Corp., Term Loan D,
6.70%, 01/18/2012 Z............................. 305
66 Warner Chilcott Corp-Dovobe,
1.36%, 01/18/2012 Z*............................ 66
--------
16,412
--------
SERVICES -- 16.0%
1,000 24 Hour Fitness Worldwide, Inc.,
6.78%, 06/08/2012 Z............................. 1,014
2,000 Accellent,
6.27%, 06/30/2010 Z............................. 2,007
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SERVICES -- (CONTINUED)
$1,500 Affinion Group,
6.91%, 10/07/2012 Z............................. $ 1,484
410 Allied Waste,
5.06%, 01/15/2012 Z............................. 412
2,586 Allied Waste,
6.00%, 01/15/2012 Z............................. 2,596
1,500 Carmike Cinemas, Inc.,
6.36%, 05/19/2012 Z............................. 1,505
1,496 CCM Merger, Inc.,
5.93%, 08/01/2012 Z............................. 1,507
1,500 Fender Musical Instrument Group,
8.55%, 09/30/2012 Z............................. 1,507
2,493 Fidelity National Information Services, Inc.,
5.67%, 03/09/2013 Z............................. 2,500
1,000 Fidelity National Information Solutions, Inc.,
5.42%, 03/09/2013 Z............................. 1,000
2,000 Frontiervision Operating Partners L.P.,
8.23%, 12/19/2006 Z............................. 2,008
106 FSC Acquisition LLC,
1.11%, 08/01/2012 Z*............................ 106
894 FSC Acquisition LLC,
6.06%, 08/01/2012 Z............................. 896
1,000 Hit Entertainment, Inc.,
6.11%, 08/26/2012 Z............................. 1,000
2,000 Isle of Capri Black Hawk LLC,
6.21%, 10/24/2011 G*............................ 2,015
2,200 MGM Holdings II, Inc.,
6.22%, 04/08/2012 Z............................. 2,217
1,500 MGM Mirage,
4.98%, 04/25/2010 Z............................. 1,503
1,000 New Publications, Inc.,
10.40%, 02/05/2013 Z............................ 927
1,000 PBI Media, Inc.,
6.41%, 09/30/2012 Z............................. 1,000
1,000 PBI Media, Inc.,
10.24%, 09/30/2013 Z............................ 1,008
2,000 Penn National Gaming, Inc.,
6.08%, 07/05/2012 Z............................. 2,022
1,995 Regal Cinemas, Inc.,
5.95%, 11/10/2010 Z............................. 2,013
500 Spanish Broadcasting, Inc.,
7.51%, 06/09/2013 Z............................. 507
3,491 Sungard Data Systems, Inc,.
6.26%, 08/08/2012 Z............................. 3,522
2,000 US Investigations Services,
6.49%, 10/14/2012 Z............................. 2,020
2,500 Washington Country Casino Resort LLC,
8.26%, 11/07/2011 G*............................ 2,500
1,000 Wembley, Inc.,
7.83%, 08/15/2012 Z............................. 1,011
1,564 Yonkers Racing Corp.,
3.27%, 08/12/2011 Z*............................ 1,577
936 Yonkers Racing Corp.,
5.23%, 08/12/2011 Z*............................ 944
--------
44,328
--------
</Table>
The accompanying notes are an integral part of these financial statements.
118
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SENIOR FLOATING RATE LOAN INTERESTS X -- (continued)
TECHNOLOGY -- 8.7%
$1,500 Aspect Software, Inc.,
6.56%, 09/22/2012 Z............................. $ 1,507
998 Cellnet Data Systems, Inc.,
7.17%, 04/26/2012 Z............................. 1,002
1,498 Charter Communications Operating LLC,
7.34%, 04/27/2010 Z............................. 1,493
1,995 Charter Communications Operating LLC,
7.49%, 04/27/2011 Z............................. 1,997
3,000 Cincinnati Bell, Inc.,
5.35%, 08/31/2012 Z............................. 3,015
2,500 Cinram International,
6.04%, 09/30/2009 Z............................. 2,521
1,000 Davita, Inc.,
6.38%, 07/07/2012 Z............................. 1,014
997 Leap Wireless International, Inc., Term Loan B1,
6.52%, 01/10/2011 Z............................. 1,008
995 Leap Wireless International, Inc., Term Loan B,
6.52%, 01/10/2011 Z............................. 1,003
1,000 Madison River Capital LLC,
6.59%, 07/29/2012 Z............................. 1,014
1,496 Ntelos, Inc.,
6.50%, 08/24/2011 Z............................. 1,506
1,000 Ntelos, Inc.,
9.04%, 02/24/2012 Z............................. 999
2,000 Olympus Cable Holding LLC,
8.88%, 09/30/2010 Z............................. 1,981
1,979 RCN Corp.,
8.13%, 12/21/2011 Z............................. 1,995
1,000 UPC Financing Partnership,
6.56%, 12/31/2011 Z............................. 1,005
1,000 UPC Financing Partnership,
6.60%, 09/30/2012 Z............................. 1,006
--------
24,066
--------
TRANSPORTATION -- 3.9%
2,500 Delta Air Lines, Inc.,
10.39%, 03/16/2008 Z............................ 2,571
2,000 Northwest Airlines, Inc.,
10.62%, 11/23/2010 Z............................ 2,016
731 Ozburn-Hessey Holding Company LLC,
6.74%, 08/05/2012 Z............................. 741
860 RailAmerica,
5.90%, 09/29/2011 Z............................. 873
201 Transport Industries L.P.,
1.00%, 09/30/2011 Z*............................ 203
1,049 Transport Industries L.P.,
6.56%, 09/30/2011 Z............................. 1,058
3,487 United Airlines DIP,
7.91%, 07/15/2010 Z............................. 3,510
--------
10,972
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
UTILITIES -- 7.6%
$1,332 Allegheny Energy Supply Co. LLC,
5.79%, 07/20/2012 Z............................. $ 1,344
1,744 Allegheny Energy, Inc.,
6.14%, 06/16/2010 Z*............................ 1,749
131 Ceh La Paloma Merger Co. LLC,
5.75%, 08/16/2012 Z............................. 132
64 Ceh La Paloma Merger Co. LLC, Delayed Draw Term
Loan,
5.77%, 08/16/2012 Z............................. 64
800 Ceh La Paloma Merger Co. LLC, Term Loan B,
5.77%, 08/16/2012 Z............................. 805
1,000 Ceh La Paloma Merger Co. LLC,
7.52%, 08/16/2013 Z............................. 1,013
2,000 Coleto Creek WLE L.P.,
7.35%, 06/30/2012 Z............................. 2,043
2,980 El Paso Energy Corp.,
6.76%, 11/23/2009 Z............................. 3,000
1,500 Energy Transfer Co. L.P.,
6.82%, 05/20/2012 Z............................. 1,510
1,500 Epco Holdings, Inc.,
5.67%, 08/15/2010 Z............................. 1,517
1,000 Primary Energy Finance LLC,
6.02%, 08/24/2012 Z............................. 1,014
3,491 Reliant Energy, Inc.,
6.14%, 04/30/2010 Z............................. 3,499
2,473 Texas Genco LLC, Term Loan,
5.86%, 12/14/2011 Z*............................ 2,483
1,024 Texas Genco LLC, Delayed Draw Term Loan,
5.86%, 12/14/2011 Z*............................ 1,027
--------
21,200
--------
Total senior floating rate loan interests (cost
$226,497)....................................... $226,652
--------
Total long-term investments
(cost $264,520)................................. $264,236
--------
SHORT-TERM INVESTMENTS -- 8.8%
CONSUMER CYCLICAL -- 1.0%
$3,000 Johnson Controls, Inc.,
4.04%, 11/01/2005............................... $ 3,000
--------
FINANCE -- 6.7%
3,000 Barton Capital,
4.02%, 11/01/2005............................... 3,000
3,000 Eaton Corp.,
4.02%, 11/01/2005............................... 3,000
3,165 Goldman Sachs Group,
4.03%, 11/01/2005............................... 3,165
3,165 Old Line Funding,
4.05%, 11/01/2005 M............................. 3,165
181 State Street Bank Money Market Variable Rate,
current rate -- 3.52% K......................... 181
</Table>
The accompanying notes are an integral part of these financial statements.
119
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
FINANCE -- (CONTINUED)
$3,000 Triple A-1 Funding,
4.03%, 11/01/2005............................... $ 3,000
3,000 UBS Finance LLC,
4.00%, 11/01/2005............................... 3,000
--------
18,511
--------
HEALTH CARE -- 1.1%
3,000 Merck,
4.02%, 11/01/2005............................... 3,000
--------
Total short-term investments
(cost $24,511).................................. $ 24,511
--------
Total investments in securities (cost $289,031)
O............................................... $288,747
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 0.68% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $289,031 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 931
Unrealized depreciation......................... (1,215)
-------
Net unrealized depreciation..................... $ (284)
=======
</Table>
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $11,134, which represents 4.01%
of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
Z The interest rate disclosed for these securities represents the
effective yield as of October 31, 2005.
G The interest rate disclosed for these securities represents an
estimated yield as of October 31, 2005.
* The cost of securities purchased on a when-issued basis at
October 31, 2005 was $24,360.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
X Senior loans in which the Fund invests generally pay interest rates
which are periodically adjusted by reference to a base short-term, floating
lending rate plus a premium. These base lending rates are generally (i) the
lending rate offered by one or more major European banks, such as the
London Inter-Bank Offered Rate (LIBOR), (ii) the prime rate offered by one
or more major United States banks, or (iii) the bank's certificate of
deposit rate. Senior floating rate interests often require prepayments from
excess cash flows or permit the borrower to repay at its election. The rate
at which the borrower repays cannot be predicted with accuracy. As a
result, the actual remaining maturity may be substantially less than the
stated maturities shown. The interest rate indicated is the rate in effect
at October 31, 2005.
The accompanying notes are an integral part of these financial statements.
120
THE HARTFORD FOCUS FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 99.3%
BASIC MATERIALS -- 2.2%
40 Dow Chemical Co. ................................. $ 1,834
-------
CAPITAL GOODS -- 5.2%
31 Boeing Co. ....................................... 1,978
44 Caterpillar, Inc. ................................ 2,288
-------
4,266
-------
CONSUMER CYCLICAL -- 11.5%
34 Carnival Corp. ................................... 1,664
94 Dollar General Corp. ............................. 1,820
14 Federated Department Stores, Inc. ................ 884
49 Gap, Inc. ........................................ 847
36 Home Depot, Inc. ................................. 1,461
23 Pulte Homes, Inc. ................................ 858
42 Toyota Motor Corp. +.............................. 1,942
-------
9,476
-------
CONSUMER STAPLES -- 5.8%
28 PepsiCo, Inc. .................................... 1,648
55 Procter & Gamble Co. ............................. 3,097
-------
4,745
-------
ENERGY -- 7.5%
34 ConocoPhillips.................................... 2,190
30 Occidental Petroleum Corp. ....................... 2,335
76 Williams Cos., Inc. .............................. 1,693
-------
6,218
-------
FINANCE -- 20.9%
44 American International Group, Inc. ............... 2,825
41 Citigroup, Inc. .................................. 1,895
17 Goldman Sachs Group, Inc. ........................ 2,148
178 MBNA Corp. ....................................... 4,541
@@ Mitsubishi UFJ Financial Group, Inc. +............ 1,169
29 St. Paul Travelers Cos., Inc. .................... 1,288
45 State Street Corp. ............................... 2,502
10 UBS AG............................................ 832
-------
17,200
-------
HEALTH CARE -- 12.9%
22 Amgen, Inc. B..................................... 1,674
70 Lilly (Eli) & Co. ................................ 3,470
46 Medtronic, Inc. .................................. 2,601
18 Quest Diagnostics, Inc. .......................... 831
51 Sanofi-Aventis S.A. ADR........................... 2,054
-------
10,630
-------
SERVICES -- 6.8%
124 Accenture Ltd. Class A............................ 3,257
27 Viacom, Inc. Class B.............................. 845
53 XM Satellite Radio Holdings, Inc. Class A B....... 1,525
-------
5,627
-------
TECHNOLOGY -- 26.5%
100 Applied Materials, Inc. .......................... 1,645
195 Cisco Systems, Inc. B............................. 3,406
45 First Data Corp. ................................. 1,816
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
TECHNOLOGY -- (CONTINUED)
80 General Electric Co. ............................. $ 2,713
135 Microsoft Corp. .................................. 3,459
5 Samsung Electronics Co., Ltd. +................... 2,404
123 Sprint Nextel Corp. .............................. 2,874
143 Time Warner, Inc. ................................ 2,550
26 Yahoo!, Inc. B.................................... 976
-------
21,843
-------
Total common stock
(cost $76,825).................................. $81,839
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 1.1%
REPURCHASE AGREEMENTS -- 1.1%
$ 32 Bank of America Joint Repurchase Agreement, 3.92%,
11/01/2005...................................... $ 32
354 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 354
227 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 227
335 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 335
-------
Total short-term investments
(cost $948)..................................... $ 948
-------
Total investments in securities
(cost $77,773) O................................ $82,787
=======
</Table>
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 10.19% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $5,515, which represents 6.69% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $78,764 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 5,373
Unrealized depreciation......................... (1,350)
-------
Net unrealized appreciation..................... $ 4,023
=======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- --------- --------------
Japanese Yen Sell $1,822 $1,840 11/1/2005 $18
---
$18
===
</Table>
The accompanying notes are an integral part of these financial statements.
121
THE HARTFORD GLOBAL COMMUNICATIONS FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 93.3%
AUDIO AND VIDEO EQUIPMENT MANUFACTURING -- 0.1%
@@ Samsung Electronics Co., Ltd. +................... $ 33
-------
COMMUNICATIONS EQUIPMENT MANUFACTURING -- 2.5%
120 Westell Technologies, Inc. Class A B.............. 564
-------
ENTERTAINMENT -- CABLE & OTHER SUBSCRIP PROGRAMMING -- 0.2%
1 Comcast Corp. Class A B........................... 36
-------
INTERNET PUBLISHING AND BROADCASTING -- 0.4%
6 FairPoint Communications, Inc. ................... 85
-------
OTHER INFORMATION SERVICES -- 0.1%
24 Primus Telecommunications Group, Inc. BH.......... 17
-------
OTHER TELECOMMUNICATIONS -- 44.7%
51 Brasil Telecom S.A. ADR H......................... 727
2,182 China Telecom Corp. Ltd. +........................ 714
38 France Telecom S.A. +............................. 994
40 P.T. Telekomunikasi Indonesia ADR................. 804
63 Sprint Nextel Corp. .............................. 1,467
45 Tele Norte Leste Participacoes S.A. ADR H......... 795
15 Telefonica S.A. ADR............................... 734
41 Telefonos de Mexico S.A. ADR Class L.............. 827
6 Telekom Austria AG +M............................. 124
19 Telekom Austria AG+............................... 397
4 Telenor ASA+...................................... 43
67 Telenor ASA +M.................................... 655
22 Telkom South Africa Ltd. ADR...................... 1,644
-------
9,925
-------
SOFTWARE PUBLISHERS -- 6.9%
121 Kong Zhong Corp. ADR B............................ 1,532
-------
TELECOMMUNICATION RESELLERS -- 0.5%
6 Chunghwa Telecom Co., Ltd. ADR.................... 109
1 Maroc Telecom S.A. +M............................. 9
-------
118
-------
WIRED TELECOMMUNICATIONS CARRIERS -- 4.8%
28 Deutsche Telekom AG +............................. 489
28 General Communication, Inc. Class A B............. 264
132 Telecom Italia S.p.A. +........................... 320
-------
1,073
-------
WIRELESS COMMUNICATIONS SERVICES -- 11.7%
32 Alamosa Holdings, Inc. B.......................... 472
10 Alltel Corp. ..................................... 637
203 Dobson Communications Corp. BH.................... 1,481
-------
2,590
-------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
WIRELESS TELECOMMUNICATIONS CARRIERS -- 21.4%
44 Citigroup Global Certificate -- Bharti
Televentures +BM................................ $ 315
41 Citizens Communications Co. ...................... 502
35 Philippine Long Distance Telephone Co. +.......... 1,061
62 Turkcell Iletisim Hizmet ADR...................... 814
60 UbiquiTel, Inc. B................................. 517
58 Vodafone Group plc ADR............................ 1,534
-------
4,743
-------
Total common stock
(cost $17,185).................................. $20,716
-------
PREFERRED STOCKS -- 4.3%
OTHER TELECOMMUNICATIONS -- 4.3%
13 Telecomunicacoes de Sao Paulo S.A. H.............. $ 262
26 Telemar Norte Leste S.A. ......................... 701
-------
Total preferred stocks
(cost $851)..................................... $ 963
-------
Total long-term investments
(cost $18,036).................................. $21,679
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 16.1%
REPURCHASE AGREEMENTS -- 3.4%
$ 26 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 26
282 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 282
181 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 181
267 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 267
-------
756
-------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 12.7%
2,815 BNY Institutional Cash Reserve Fund............... 2,815
-------
Total short-term investments
(cost $3,571)................................... $ 3,571
-------
Total investments in securities
(cost $21,607) O................................ $25,250
=======
</Table>
The accompanying notes are an integral part of these financial statements.
122
- --------------------------------------------------------------------------------
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 70.42% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $5,154, which represents 23.22% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $21,627 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $4,038
Unrealized depreciation.......................... (415)
------
Net unrealized appreciation...................... $3,623
======
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $1,103, which represents 4.97% of
total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Austria 2.4%
- ------------------------------------------------------------------
Brazil 11.2
- ------------------------------------------------------------------
Cayman Islands 6.9
- ------------------------------------------------------------------
China 3.2
- ------------------------------------------------------------------
France 4.5
- ------------------------------------------------------------------
Germany 2.2
- ------------------------------------------------------------------
Indonesia 3.6
- ------------------------------------------------------------------
Italy 1.4
- ------------------------------------------------------------------
Luxembourg 1.4
- ------------------------------------------------------------------
Mexico 3.7
- ------------------------------------------------------------------
Morocco 0.0
- ------------------------------------------------------------------
Norway 3.1
- ------------------------------------------------------------------
Philippines 4.8
- ------------------------------------------------------------------
South Africa 7.4
- ------------------------------------------------------------------
South Korea 0.1
- ------------------------------------------------------------------
Spain 3.4
- ------------------------------------------------------------------
Taiwan 0.5
- ------------------------------------------------------------------
Turkey 3.7
- ------------------------------------------------------------------
United Kingdom 6.9
- ------------------------------------------------------------------
United States 27.2
- ------------------------------------------------------------------
Short Term Investments 16.1
- ------------------------------------------------------------------
Other Assets & Liabilities -13.7
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
123
THE HARTFORD GLOBAL FINANCIAL SERVICES FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 95.5%
AGENCIES, BROKERAGES, OTHER INSURANCE ACTIVITIES -- 5.0%
3 Goldman Sachs Group, Inc. ........................ $ 417
10 Merrill Lynch & Co., Inc. ........................ 615
-------
1,032
-------
COMMERCIAL BANKING -- 20.8%
21 Bank of America Corp. ............................ 910
68 Capitalia S.p.A. +H............................... 353
700 China Construction Bank MB........................ 212
20 Citigroup, Inc. .................................. 911
12 UBS AG +H......................................... 989
59 Westpac Banking Corp. +H.......................... 924
-------
4,299
-------
CONSUMER LENDING -- 1.9%
6 Takefuji Corp. +.................................. 395
-------
DEPOSITORY CREDIT BANKING -- 20.6%
48 Banco Bilbao Vizcaya Argentaria S.A. +............ 840
8 Canadian Western Bank............................. 227
16 Golden West Financial Corp. ...................... 946
36 Hibernia Corp. Class A............................ 1,080
36 HSBC Holdings plc +............................... 560
8 Signature Bank B.................................. 229
17 United Overseas Bank Ltd. +....................... 139
5 Webster Financial Corp. .......................... 235
-------
4,256
-------
INSURANCE CARRIERS -- 25.3%
20 ACE Ltd. ......................................... 1,026
8 AMBAC Financial Group, Inc. ...................... 539
15 American International Group, Inc. ............... 972
77 Banca Intesa S.p.A. +H............................ 361
7 MBIA, Inc. ....................................... 413
2 Metlife, Inc. .................................... 118
1 Prudential Financial, Inc. ....................... 102
11 Reinsurance Group of America...................... 508
20 St. Paul Travelers Cos., Inc. .................... 919
13 UnumProvident Corp. .............................. 254
-------
5,212
-------
INTERNATIONAL TRADE FINANCING (FOREIGN BANKS) -- 4.1%
15 Bayerische Hypo Und Vereinsbank AG B.............. 427
15 Royal Bank of Scotland Group plc +................ 426
-------
853
-------
MONETARY AUTHORITIES -- CENTRAL BANK -- 8.2%
5 Canadian Imperial Bank of Commerce H.............. 281
14 Credit Suisse Group +............................. 605
@@ Mitsubishi UFJ Financial Group, Inc. +............ 805
-------
1,691
-------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
NONDEPOSITORY CREDIT BANKING -- 1.7%
6 Federal Home Loan Mortgage Corp. ................. $ 350
-------
OTHER FINANCIAL INVESTMENT ACTIVITIES -- 3.9%
29 Nordea Bank AB +.................................. 282
9 State Street Corp. ............................... 519
-------
801
-------
REAL ESTATE -- ACTIVITIES RELATED TO REAL ESTATE -- 0.0%
2 United Overseas Land Ltd. +H...................... 2
-------
REAL ESTATE CREDIT (MORTGAGE BANKING) -- 1.9%
12 Countrywide Financial Corp. ...................... 384
-------
SECURITIES, COMMODITIES AND BROKERAGE -- 2.1%
12 E*Trade Financial Corp. B......................... 226
2 Legg Mason, Inc. ................................. 215
-------
441
-------
Total common stock
(cost $16,636).................................. $19,716
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 13.9%
REPURCHASE AGREEMENTS -- 4.3%
$ 30 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 30
329 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 329
210 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 210
311 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 311
-------
880
-------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 9.6%
1,988 Navigator Prime Portfolio......................... 1,988
-------
Total short-term investments
(cost $2,868)................................... $ 2,868
-------
Total investments in securities
(cost $19,504) O................................ $22,584
=======
</Table>
The accompanying notes are an integral part of these financial statements.
124
- --------------------------------------------------------------------------------
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 37.92% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $6,681, which represents 32.36% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $19,637 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $3,138
Unrealized depreciation.......................... (191)
------
Net unrealized appreciation...................... $2,947
======
</Table>
B Currently non-income producing.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $212, which represents 1.03% of
total net assets.
H Security is partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Sell $12 $12 11/01/2005 $@@
Singapore Dollar Sell 8 8 11/02/2005 @@
---
$@@
===
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Australia 4.5%
- ------------------------------------------------------------------
Canada 2.4
- ------------------------------------------------------------------
China 1.0
- ------------------------------------------------------------------
Germany 2.1
- ------------------------------------------------------------------
Italy 3.5
- ------------------------------------------------------------------
Japan 5.7
- ------------------------------------------------------------------
Singapore 0.7
- ------------------------------------------------------------------
Spain 4.1
- ------------------------------------------------------------------
Sweden 1.4
- ------------------------------------------------------------------
Switzerland 7.7
- ------------------------------------------------------------------
United Kingdom 4.8
- ------------------------------------------------------------------
United States 57.6
- ------------------------------------------------------------------
Short Term Investments 13.9
- ------------------------------------------------------------------
Other Assets & Liabilities -9.4
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
125
THE HARTFORD GLOBAL HEALTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ---------
COMMON STOCK -- 98.1%
BASIC CHEMICAL MANUFACTURING -- 1.2%
175 Bayer AG +H....................................... $ 6,097
--------
DRUGS & DRUGGISTS SUNDRIES WHOLESALERS -- 6.4%
171 Cardinal Health, Inc. ............................ 10,658
501 McKesson Corp. ................................... 22,765
--------
33,423
--------
ELECTRICAL EQUIP MANUFACTURING -- 1.1%
271 Olympus Corp. +H.................................. 6,031
--------
ELECTROMEDICAL MANUFACTURING -- 4.9%
452 Medtronic, Inc. .................................. 25,633
--------
GENERAL MEDICAL AND SURGICAL HOSPITALS -- 0.6%
76 Triad Hospitals, Inc. B........................... 3,134
--------
HEALTH AND PERSONAL CARE STORES -- 0.5%
701 Rite Aid Corp. BH................................. 2,454
--------
INSURANCE CARRIERS -- 7.4%
168 Aetna, Inc. ...................................... 14,869
217 PacifiCare Health Systems, Inc. B................. 17,839
102 UnitedHealth Group, Inc. ......................... 5,899
--------
38,607
--------
MEDICAL EQUIPMENT & SUPPLIES MANUFACTURING -- 5.2%
380 Baxter International, Inc. ....................... 14,512
209 Biomet, Inc. ..................................... 7,280
177 Terumo Corp. +H................................... 5,372
--------
27,164
--------
NAVIGATE, MEASURE, CONTROL INSTRUMENT
MANUFACTURING -- 0.3%
441 Bruker BioSciences Corp. B........................ 1,833
--------
OUTPATIENT CARE CENTERS -- 1.4%
158 Health Net, Inc. B................................ 7,387
--------
PHARMACEUTICAL & MEDICINE MANUFACTURING -- 57.5%
581 Abbott Laboratories............................... 24,999
316 Amgen, Inc. B..................................... 23,902
368 Amylin Pharmaceuticals, Inc. BH................... 12,365
254 Array BioPharma, Inc. BH.......................... 1,806
451 Astellas Pharma, Inc. +........................... 16,120
569 AstraZeneca plc ADR............................... 25,544
150 AtheroGenics, Inc. BH............................. 2,251
82 Cephalon, Inc. BH................................. 3,741
501 Cytokinetics, Inc. BH............................. 3,905
731 Daiichi Sankyo Co., Ltd. H........................ 13,246
450 Eisai Co., Ltd. +H................................ 17,623
407 Forest Laboratories, Inc. B....................... 15,414
211 Genzyme Corp. B................................... 15,255
144 Hospira, Inc. B................................... 5,748
430 King Pharmaceuticals, Inc. B...................... 6,640
251 Lilly (Eli) & Co. ................................ 12,507
180 MedImmune, Inc. B................................. 6,282
129 Novartis AG +..................................... 6,958
124 NPS Pharmaceuticals, Inc. BH...................... 1,220
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ---------
PHARMACEUTICAL & MEDICINE MANUFACTURING -- (CONTINUED)
435 Panacos Pharmaceuticals, Inc. B................... $ 3,433
348 Sanofi-Aventis S.A. ADR........................... 13,982
1,373 Schering-Plough Corp. ............................ 27,917
74 Schwarz Pharma AG +H.............................. 4,258
817 Shionogi & Co., Ltd. +H........................... 9,935
103 Takeda Pharmaceutical Co., Ltd. +................. 5,662
181 UCB S.A. +........................................ 8,931
327 Vertex Pharmaceuticals, Inc. BH................... 7,442
114 Watson Pharmaceuticals, Inc. BH................... 3,940
--------
301,026
--------
SCIENTIFIC RESEARCH & DEVELOPMENT SERVICES -- 11.6%
424 Applera Corp. -- Celera Genomics Group B.......... 5,035
667 Ciphergen Biosystems, Inc. BH..................... 1,301
233 CV Therapeutics, Inc. BH.......................... 5,836
624 Elan Corp. plc ADR B.............................. 5,149
363 Exelixis, Inc. BH................................. 2,809
183 Gilead Sciences, Inc. B........................... 8,656
640 Human Genome Sciences, Inc. B..................... 5,340
93 ICOS Corp. BH..................................... 2,520
242 Incyte Corp. BH................................... 1,206
256 Medicines Co. BH.................................. 4,393
1,102 Millennium Pharmaceuticals, Inc. B................ 10,054
264 Regeneron Pharmaceuticals, Inc. BH................ 3,304
287 Zymogenetics, Inc. BH............................. 5,032
--------
60,635
--------
Total common stock
(cost $468,925)................................. $513,424
--------
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 16.4%
REPURCHASE AGREEMENTS -- 1.5%
$ 269 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 269
2,982 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 2,982
1,910 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,910
2,825 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 2,825
--------
7,986
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 14.9%
77,974 Navigator Prime Portfolio......................... 77,974
--------
Total short-term investments
(cost $85,960).................................. $ 85,960
--------
Total investments in securities
(cost $554,885) O............................... $599,384
========
</Table>
The accompanying notes are an integral part of these financial statements.
126
- --------------------------------------------------------------------------------
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 27.69% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $86,987, which represents 16.62% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $556,224 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 63,239
Unrealized depreciation........................ (20,079)
--------
Net unrealized appreciation.................... $ 43,160
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Belgium 1.7%
- ------------------------------------------------------------------
France 2.7
- ------------------------------------------------------------------
Germany 2.0
- ------------------------------------------------------------------
Ireland 1.0
- ------------------------------------------------------------------
Japan 14.1
- ------------------------------------------------------------------
Switzerland 1.3
- ------------------------------------------------------------------
United Kingdom 4.9
- ------------------------------------------------------------------
United States 70.4
- ------------------------------------------------------------------
Short Term Investments 16.4
- ------------------------------------------------------------------
Other Assets & Liabilities -14.5
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
127
THE HARTFORD GLOBAL LEADERS FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 99.6%
BRAZIL -- 1.0%
164 Companhia Vale do Rio Doce ADR.................... $ 6,791
--------
CANADA -- 3.7%
135 Cameco Corp. ..................................... 6,467
47 Inco Ltd. ........................................ 1,870
184 Petro-Canada...................................... 6,395
157 Research In Motion Ltd. BH........................ 9,642
--------
24,374
--------
FINLAND -- 1.5%
579 Nokia Oyj +....................................... 9,705
--------
FRANCE -- 3.6%
125 LVMH Moet Hennessy Louis Vuitton S.A. +H.......... 10,115
428 Vivendi Universal S.A. +H......................... 13,476
--------
23,591
--------
GERMANY -- 7.9%
53 Adidas-Salomon AG +H.............................. 8,862
97 Allianz AG +...................................... 13,688
344 Bayerische Hypo Und Vereinsbank AG B.............. 9,571
136 Merck KGaA +...................................... 11,240
70 Muenchener Rueckversicherungs-Gesellschaft AG +... 8,219
--------
51,580
--------
HONG KONG -- 0.5%
335 Hutchison Whampoa Ltd. +.......................... 3,188
--------
IRELAND -- 0.7%
91 Ryanair Holdings plc ADR BH....................... 4,491
--------
ISRAEL -- 1.2%
214 Teva Pharmaceutical Industries Ltd. ADR........... 8,142
--------
JAPAN -- 8.9%
255 Eisai Co., Ltd. +................................. 9,987
@@ Japan Tobacco, Inc. +............................. 7,462
434 Matsushita Electric Industrial Co., Ltd. +H....... 7,953
1 Mitsubishi UFJ Financial Group, Inc. +............ 6,535
2 NTT DoCoMo, Inc. +................................ 3,288
168 Seven & I Holdings Co., Ltd. ..................... 5,469
171 Shizuoka Bank Ltd. +.............................. 1,796
99 Softbank Corp. +H................................. 5,624
114 Toyota Motor Corp. +.............................. 5,282
278 Yamato Holdings Co., Ltd. +....................... 4,579
--------
57,975
--------
LUXEMBOURG -- 1.4%
570 SES Global S.A. +................................. 9,022
--------
MEXICO -- 1.5%
134 Grupo Televisa S.A. ADR........................... 9,803
--------
NETHERLANDS -- 1.0%
253 Koninklijke (Royal) Philips Electronics N.V. +.... 6,620
--------
SOUTH AFRICA -- 0.9%
198 Sasol Ltd. +...................................... 6,241
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SOUTH KOREA -- 0.7%
6 Samsung Electronics Co., Ltd. +................... $ 3,073
44 Hana Bank +....................................... 1,581
--------
4,654
--------
SPAIN -- 1.1%
390 Banco Bilbao Vizcaya Argentaria S.A. +............ 6,875
--------
SWEDEN -- 1.7%
3,305 Telefonaktiebolaget LM Ericsson +H................ 10,830
--------
SWITZERLAND -- 7.0%
379 Credit Suisse Group +H............................ 16,757
33 Nestle S.A. +..................................... 9,707
49 Roche Holding AG +................................ 7,281
140 UBS AG +.......................................... 11,951
--------
45,696
--------
UNITED KINGDOM -- 12.9%
221 Anglo American plc +.............................. 6,538
141 AstraZeneca plc +................................. 6,328
3,534 Carphone Warehouse Group plc +.................... 12,273
3,875 EMI Group plc +................................... 14,696
479 Reckitt Benckiser plc +........................... 14,473
153 Rio Tinto plc +................................... 5,842
695 Standard Chartered plc +.......................... 14,589
1,765 Vodafone Group plc +.............................. 4,634
211 Xstrata plc +H.................................... 4,824
--------
84,197
--------
UNITED STATES -- 42.4%
89 Abercrombie & Fitch Co. Class A................... 4,627
183 ACE Ltd. ......................................... 9,545
176 Altria Group, Inc. ............................... 13,224
135 American Tower Corp. Class A B.................... 3,229
130 Amgen, Inc. B..................................... 9,849
234 Baxter International, Inc. ....................... 8,946
192 Best Buy Co., Inc. ............................... 8,493
174 Boeing Co. ....................................... 11,267
207 Cardinal Health, Inc. ............................ 12,921
1,047 Corning, Inc. B................................... 21,030
47 Electronic Arts, Inc. B........................... 2,679
139 Freeport-McMoRan Copper & Gold, Inc. Class B...... 6,869
107 General Dynamics Corp. ........................... 12,456
106 Goldman Sachs Group, Inc. ........................ 13,446
68 Google, Inc. B.................................... 25,231
112 Halliburton Co. .................................. 6,613
150 Medtronic, Inc. .................................. 8,499
380 Microsoft Corp. .................................. 9,769
470 Motorola, Inc. ................................... 10,409
246 Office Depot, Inc. BH............................. 6,770
163 Pixar Animation Studios BH........................ 8,249
295 Procter & Gamble Co. ............................. 16,489
231 Qualcomm, Inc. ................................... 9,184
457 Schering-Plough Corp. ............................ 9,299
539 Sirius Satellite Radio, Inc. BH................... 3,366
160 UnitedHealth Group, Inc. ......................... 9,239
</Table>
The accompanying notes are an integral part of these financial statements.
128
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
UNITED STATES -- (CONTINUED)
92 Urban Outfitters, Inc. BH......................... $ 2,618
68 Valero Energy Corp. .............................. 7,188
395 Warner Music Group Corp. H........................ 6,118
--------
277,622
--------
Total common stock
(cost $614,100)................................. $651,397
--------
</Table>
<Table>
SHORT-TERM INVESTMENTS -- 10.4%
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 10.4%
$67,930 Navigator Prime Portfolio......................... $ 67,930
--------
Total short-term investments
(cost $67,930).................................. $ 67,930
--------
Total investments in securities (cost $682,030)
O............................................... $719,327
========
</Table>
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 57.14% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $305,134, which represents 46.65% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $686,428 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 46,885
Unrealized depreciation........................ (13,986)
--------
Net unrealized appreciation.................... $ 32,899
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ---------------------------------------------------------------
Basic Materials 6.1%
- ---------------------------------------------------------------
Capital Goods 4.1
- ---------------------------------------------------------------
Consumer Cyclical 6.4
- ---------------------------------------------------------------
Consumer Staples 11.0
- ---------------------------------------------------------------
Energy 4.0
- ---------------------------------------------------------------
Finance 18.9
- ---------------------------------------------------------------
Health Care 14.1
- ---------------------------------------------------------------
Services 8.5
- ---------------------------------------------------------------
Technology 25.1
- ---------------------------------------------------------------
Transportation 1.4
- ---------------------------------------------------------------
Short Term Investments 10.4
- ---------------------------------------------------------------
Other Assets & Liabilities -10.0
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Canadian Dollar Sell $2,588 $2,588 11/03/2005 $ @@
Swiss Francs Buy 2,177 2,205 11/01/2005 (28)
British Pound Buy 1,282 1,293 11/01/2005 (11)
British Pound Buy 503 504 11/02/2005 (1)
Hong Kong Dollar Sell 191 191 11/01/2005 @@
Hong Kong Dollar Sell 216 216 11/02/2005 @@
----
$(40)
====
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero
The accompanying notes are an integral part of these financial statements.
129
THE HARTFORD GLOBAL TECHNOLOGY FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 98.7%
AUDIO AND VIDEO EQUIPMENT MANUFACTURING -- 4.1%
4 Samsung Electronics Co., Ltd. + .................. $ 2,111
-------
BUSINESS SUPPORT SERVICES -- 1.4%
19 Iron Mountain, Inc. B............................. 745
-------
COMMUNICATIONS EQUIPMENT MANUFACTURING -- 10.8%
32 Motorola, Inc. ................................... 698
170 Nokia Oyj ADR..................................... 2,858
51 Qualcomm, Inc. ................................... 2,036
-------
5,592
-------
COMPUTER AND PERIPHERAL MANUFACTURING -- 13.7%
70 Dell, Inc. B...................................... 2,228
27 EMC Corp./Massachusetts B......................... 383
364 Hon Hai Precision Industry Co., Ltd. + ........... 1,578
35 International Business Machines Corp. ............ 2,890
-------
7,079
-------
DATA PROCESSING SERVICES -- 4.0%
52 First Data Corp. ................................. 2,091
-------
ELECTRICAL EQUIP MANUFACTURING -- COMPONENT
OTHER -- 4.5%
116 Corning, Inc. B................................... 2,322
-------
EMPLOYMENT SERVICES -- 1.0%
11 Manpower, Inc. ................................... 494
-------
INTERNET PROVIDERS & WEB SEARCH PORTALS -- 12.2%
8 Google, Inc. B.................................... 3,052
88 Yahoo!, Inc. B.................................... 3,242
-------
6,294
-------
MANAGEMENT, SCIENTIFIC, AND TECH CONSULTING SER. -- 2.0%
32 Accenture Ltd. Class A............................ 852
6 Monster Worldwide, Inc. B......................... 181
-------
1,033
-------
PROFESSIONAL SERVICES -- COMPUTER SYSTEM DESIGN &
RELATED -- 5.4%
14 Automatic Data Processing, Inc. .................. 667
55 BISYS Group, Inc. B............................... 695
25 DST Systems, Inc. B............................... 1,426
-------
2,788
-------
SEMICONDUCTOR, ELECTRONIC COMPONENT
MANUFACTURING -- 19.5%
71 Altera Corp. B.................................... 1,175
108 Fairchild Semiconductor International, Inc. B..... 1,656
45 Jabil Circuit, Inc. B............................. 1,352
67 Lam Research Corp. B.............................. 2,254
17 Marvell Technology Group Ltd. B................... 784
31 Maxim Integrated Products, Inc. .................. 1,072
158 ON Semiconductor Corp. B.......................... 733
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
SEMICONDUCTOR, ELECTRONIC COMPONENT
MANUFACTURING -- (CONTINUED)
30 STMicroelectronics N.V. .......................... $ 486
15 Varian Semiconductor Equipment Associates, Inc.
B............................................... 548
-------
10,060
-------
SOFTWARE PUBLISHERS -- 17.8%
13 Adobe Systems, Inc. .............................. 406
14 Cognos, Inc. B.................................... 507
30 Electronic Arts, Inc. B........................... 1,729
3 Infosys Technologies Ltd. ADR..................... 217
18 Mercury Interactive Corp. B....................... 637
157 Microsoft Corp. .................................. 4,035
39 Red Hat, Inc. BH.................................. 908
20 Salesforce.com, Inc. B............................ 510
12 Serena Software, Inc. B........................... 271
-------
9,220
-------
WIRELESS TELECOMMUNICATIONS CARRIERS -- 2.3%
19 Research In Motion Ltd. B......................... 1,187
-------
Total common stock
(cost $46,263).................................. $51,016
-------
WARRANTS -- 0.7%
OTHER SERVICES -- OTHER PERSONAL SERVICES -- 0.7%
11 Tata Consulting Warrants BM....................... $ 354
-------
Total warrants
(cost $334)..................................... $ 354
-------
Total long-term investments
(cost $46,597).................................. $51,320
-------
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 2.2%
REPURCHASE AGREEMENTS -- 0.7%
$ 12 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 12
134 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 134
86 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 86
127 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 127
-------
359
-------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 1.5%
771 BNY Institutional Cash Reserve Fund............... 771
-------
Total short-term investments
(cost $1,130)................................... $ 1,130
-------
Total investments in securities
(cost $47,727) O................................ $52,500
=======
</Table>
The accompanying notes are an integral part of these financial statements.
130
- --------------------------------------------------------------------------------
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 19.51% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $3,689, which represents 7.14% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $48,315 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 5,839
Unrealized depreciation......................... (1,654)
-------
Net unrealized appreciation..................... $ 4,185
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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
qualified institutional buyers. Pursuant to guidelines adopted by the Board
of Directors, these issues are determined to be liquid. The aggregate value
of these securities at October 31, 2005, was $354, which represents 0.68%
of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Sell $1,081 $1,095 11/01/2005 $14
</Table>
DIVERSIFICATION BY COUNTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Bermuda 1.5%
- ------------------------------------------------------------------
Canada 3.3
- ------------------------------------------------------------------
Finland 5.5
- ------------------------------------------------------------------
India 0.4
- ------------------------------------------------------------------
Luxembourg 0.7
- ------------------------------------------------------------------
South Korea 4.1
- ------------------------------------------------------------------
Switzerland 0.9
- ------------------------------------------------------------------
Taiwan 3.1
- ------------------------------------------------------------------
United States 79.9
- ------------------------------------------------------------------
Short Term Investments 2.2
- ------------------------------------------------------------------
Other Assets & Liabilities -1.6
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
131
THE HARTFORD GROWTH ALLOCATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ --------
AFFILIATED INVESTMENT COMPANIES -- 99.3%
EQUITY FUNDS -- 79.2%
1,115 Hartford Capital Appreciation Fund, Class Y B..... $ 42,908
3,243 Hartford Disciplined Equity Fund, Class Y......... 39,304
523 Hartford Dividend and Growth Fund, Class Y........ 10,088
963 Hartford Global Leaders Fund, Class Y B........... 16,821
937 Hartford Growth Fund, Class Y B................... 16,530
350 Hartford Growth Opportunities Fund, Class Y B..... 9,943
2,056 Hartford International Capital Appreciation Fund,
Class Y B....................................... 25,354
672 Hartford International Small Company Fund, Class
Y............................................... 9,690
661 Hartford MidCap Value Fund, Class Y............... 8,987
981 Hartford Small Company Fund, Class Y B............ 18,958
974 Hartford SmallCap Growth Fund, Class Y B.......... 28,005
2,897 Hartford Value Fund, Class Y...................... 31,258
2,306 Hartford Value Opportunities Fund, Class Y B...... 36,303
--------
Total equity funds
(cost $276,172)................................. $294,149
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ --------
FIXED INCOME FUNDS -- 20.1%
2,741 Hartford Inflation Plus Fund, Class Y............. $ 29,270
1,074 Hartford Short Duration Fund, Class Y............. 10,565
2,376 Hartford Total Return Bond Fund, Class Y.......... 25,491
992 Hartford U.S. Government Securities Fund, Class
Y............................................... 9,247
--------
Total fixed income funds
(cost $76,062).................................. $ 74,573
--------
Total investments in affiliated
investment companies
(cost $352,234) O............................... $368,722
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $352,245 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $17,964
Unrealized depreciation......................... (1,487)
-------
Net unrealized appreciation..................... $16,477
=======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
132
THE HARTFORD GROWTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 97.4%
BASIC MATERIALS -- 1.5%
355 Cameco Corp. ..................................... $ 16,971
----------
CAPITAL GOODS -- 5.9%
558 Boeing Co. H...................................... 36,043
274 General Dynamics Corp. ........................... 31,873
----------
67,916
----------
CONSUMER CYCLICAL -- 1.3%
296 Abercrombie & Fitch Co. Class A................... 15,385
----------
CONSUMER STAPLES -- 2.4%
488 Procter & Gamble Co. ............................. 27,322
----------
ENERGY -- 4.5%
341 Halliburton Co. .................................. 20,150
694 Petro-Canada...................................... 24,120
124 Petroleo Brasileiro S.A. ADR H.................... 7,929
----------
52,199
----------
FINANCE -- 21.2%
150 Capital One Financial Corp. ...................... 11,425
116 Chicago Mercantile Exchange Holdings, Inc. ....... 42,496
845 Commerce Bancorp, Inc. H.......................... 25,741
1,549 Countrywide Financial Corp. ...................... 49,220
221 Franklin Resources, Inc. H........................ 19,511
97 Golden West Financial Corp. ...................... 5,668
214 Legg Mason, Inc. ................................. 23,016
149 Progressive Corp. ................................ 17,271
884 UnitedHealth Group, Inc. H........................ 51,162
----------
245,510
----------
HEALTH CARE -- 20.7%
250 Abbott Laboratories............................... 10,759
482 Amgen, Inc. B..................................... 36,504
1,143 AstraZeneca plc ADR............................... 51,325
276 Coventry Health Care, Inc. B...................... 14,891
151 Genzyme Corp. B................................... 10,931
371 Gilead Sciences, Inc. B........................... 17,516
854 Medtronic, Inc. .................................. 48,404
562 Sanofi-Aventis S.A. ADR........................... 22,541
1,296 Schering-Plough Corp. ............................ 26,362
----------
239,233
----------
SERVICES -- 7.3%
262 Moody's Corp. .................................... 13,943
122 Pixar Animation Studios B......................... 6,211
393 Starwood Hotels & Resorts Worldwide, Inc. ........ 22,991
1,448 XM Satellite Radio Holdings, Inc. Class A BH...... 41,734
----------
84,879
----------
TECHNOLOGY -- 32.6%
196 Adobe Systems, Inc. H............................. 6,308
525 America Movil S.A. de C.V. ADR.................... 13,784
298 Apple Computer, Inc. B............................ 17,139
546 Danaher Corp. H................................... 28,461
1,166 Dell, Inc. B...................................... 37,179
862 Electronic Arts, Inc. B........................... 49,054
1,080 General Electric Co. ............................. 36,611
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
TECHNOLOGY -- (CONTINUED)
92 Google, Inc. B.................................... $ 34,092
1,136 Microsoft Corp. .................................. 29,201
1,073 Network Appliance, Inc. B......................... 29,350
779 Qualcomm, Inc. ................................... 30,991
121 Research In Motion Ltd. B......................... 7,419
52 SanDisk Corp. B................................... 3,047
1,441 Yahoo!, Inc. B.................................... 53,275
----------
375,911
----------
Total common stock
(cost $1,024,903)............................... $1,125,326
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 12.2%
REPURCHASE AGREEMENTS -- 3.1%
$ 1,219 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 1,219
13,497 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 13,497
8,642 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 8,642
12,786 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 12,786
----------
36,144
----------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 9.1%
105,393 BNY Institutional Cash Reserve Fund............... $ 105,393
----------
Total short-term investments
(cost $141,537)................................. $ 141,537
----------
Total investments in securities
(cost $1,166,440) O............................. $1,266,863
==========
</Table>
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 12.47% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $1,166,619 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $116,450
Unrealized depreciation........................ (16,206)
--------
Net unrealized appreciation.................... $100,244
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
133
THE HARTFORD GROWTH OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 96.6%
BASIC MATERIALS -- 3.7%
238 Cameco Corp. ..................................... $ 11,391
432 Jarden Corp. BH................................... 14,600
188 Precision Castparts Corp. ........................ 8,894
----------
34,885
----------
CONSUMER CYCLICAL -- 13.7%
277 Abercrombie & Fitch Co. Class A................... 14,401
213 Advance Auto Parts, Inc. B........................ 7,973
211 California Pizza Kitchen, Inc. B.................. 6,764
284 D.R. Horton, Inc. ................................ 8,704
222 GameStop Corp. Class A BH......................... 7,886
161 GameStop Corp. Class B B.......................... 5,213
1,026 Geox S.p.A. + .................................... 9,777
308 GSI Commerce, Inc. BH............................. 4,915
280 Kohl's Corp. B.................................... 13,462
249 Pulte Homes, Inc. ................................ 9,425
361 Ross Stores, Inc. ................................ 9,748
206 Standard-Pacific Corp. ........................... 7,940
340 Tiffany & Co. .................................... 13,376
249 Williams-Sonoma, Inc. B........................... 9,722
----------
129,306
----------
CONSUMER STAPLES -- 2.3%
161 Altria Group, Inc. ............................... 12,076
179 Procter & Gamble Co. ............................. 10,033
----------
22,109
----------
ENERGY -- 3.7%
179 BJ Services Co. .................................. 6,213
221 Chesapeake Energy Corp. .......................... 7,091
72 Noble Corp. ...................................... 4,629
174 Petro-Canada...................................... 6,029
182 Tesoro Corp. ..................................... 11,142
----------
35,104
----------
FINANCE -- 2.4%
167 Comverse Technology, Inc. B....................... 4,184
7,304 Melco International Development Ltd. + ........... 7,064
204 State Street Corp. ............................... 11,250
----------
22,498
----------
HEALTH CARE -- 28.2%
328 Alkermes, Inc. BH................................. 5,348
189 Amgen, Inc. B..................................... 14,334
302 Amylin Pharmaceuticals, Inc. BH................... 10,147
420 Applera Corp. -- Applied Biosystems Group......... 10,198
328 AstraZeneca plc ADR............................... 14,718
133 AtheroGenics, Inc. BH............................. 1,989
208 Auxilium Pharmaceuticals, Inc. BH................. 810
192 Cardinal Health, Inc. ............................ 11,977
237 Cephalon, Inc. BH................................. 10,819
286 Covance, Inc. B................................... 13,924
385 Digene Corp. B.................................... 11,639
267 Eisai Co., Ltd. + ................................ 10,460
168 Encysive Pharmaceuticals, Inc. B.................. 1,767
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
HEALTH CARE -- (CONTINUED)
198 Forest Laboratories, Inc. B....................... $ 7,506
257 Foxhollow Technologies, Inc. BH................... 11,663
288 Gilead Sciences, Inc. B........................... 13,608
188 ICOS Corp. BH..................................... 5,059
192 Kissei Pharmaceutical Co., Ltd. + ................ 3,747
218 Medicines Co. B................................... 3,735
259 Medtronic, Inc. .................................. 14,686
239 Mentor Corp. H.................................... 10,764
422 Millennium Pharmaceuticals, Inc. B................ 3,850
236 Pharmaceutical Product Development, Inc. ......... 13,563
268 Sanofi-Aventis S.A. ADR........................... 10,756
874 Schering-Plough Corp. ............................ 17,783
918 Shionogi & Co., Ltd. + ........................... 11,163
148 St. Jude Medical, Inc. B.......................... 7,114
197 Teva Pharmaceutical Industries Ltd. ADR H......... 7,525
268 Vertex Pharmaceuticals, Inc. BH................... 6,097
----------
266,749
----------
SERVICES -- 8.9%
203 Autodesk, Inc. ................................... 9,166
358 Bankrate, Inc. BH................................. 9,577
256 DreamWorks Animation SKG, Inc. B.................. 6,559
162 Four Seasons Hotels, Inc. H....................... 8,683
505 LECG Corp. B...................................... 11,158
1,292 Sirius Satellite Radio, Inc. BH................... 8,060
269 Starwood Hotels & Resorts Worldwide, Inc. ........ 15,735
138 Stericycle, Inc. B................................ 7,932
88 Tetra Tech, Inc. B................................ 1,353
216 XM Satellite Radio Holdings, Inc. Class A BH...... 6,234
----------
84,457
----------
TECHNOLOGY -- 30.0%
260 Amdocs Ltd. B..................................... 6,882
412 American Tower Corp. Class A B.................... 9,831
235 Cognos, Inc. B.................................... 8,831
859 Corning, Inc. B................................... 17,249
289 Crown Castle International Corp. B................ 7,076
170 Electronic Arts, Inc. B........................... 9,653
915 Evergreen Solar, Inc. H........................... 7,550
254 F5 Networks, Inc. B............................... 13,226
409 General Electric Co. ............................. 13,876
41 Google, Inc. B.................................... 15,407
157 Hologic, Inc. B................................... 8,718
831 Microsoft Corp. .................................. 21,362
221 Qualcomm, Inc. ................................... 8,767
1,017 Red Hat, Inc. BH.................................. 23,617
81 Redback Networks, Inc. B.......................... 854
137 Research In Motion Ltd. B......................... 8,418
263 Rockwell Collins, Inc. ........................... 12,069
406 Salesforce.com, Inc. BH........................... 10,138
25 Samsung Electronics Co., Ltd. + .................. 13,208
676 Smiths Group plc +................................ 10,916
594 THQ, Inc. B....................................... 13,768
727 Verifone Holdings, Inc. B......................... 16,871
</Table>
The accompanying notes are an integral part of these financial statements.
134
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
8 1/4v292 Verint Systems, Inc. B............................ $ 11,196
395 Yahoo!, Inc. B.................................... 14,619
----------
284,102
----------
TRANSPORTATION -- 3.1%
398 GOL Linhas Aereas Inteligentes S.A. ADR H......... 13,777
493 JetBlue Airways Corp. B........................... 9,177
121 Ryanair Holdings plc ADR B........................ 5,973
----------
28,927
----------
UTILITIES -- 0.6%
21 Q-Cells AG BM..................................... 1,152
80 Q-Cells AG B...................................... 4,406
----------
5,558
----------
Total common stock
(cost $809,075)................................. $ 913,695
----------
PRINCIPAL
AMOUNT
- --------
1/4V
SHORT-TERM INVESTMENTS -- 17.8%
</Table>
<Table>
1/4v REPURCHASE AGREEMENTS -- 4.4%
$ 1,423 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 1,423
15,758 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 15,758
10,090 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 10,090
14,928 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 14,928
----------
42,199
----------
SHARES
- --------
1/4V
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 13.4%
126,302 BNY Institutional Cash Reserve Fund............... 126,302
----------
Total short-term investments
(cost $168,501)................................. $ 168,501
----------
Total investments in securities
(cost $977,576) O............................... $1,082,196
==========
</Table>
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 17.77% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $66,335 which represents 7.02% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $978,943 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $119,906
Unrealized depreciation........................ (16,653)
--------
Net unrealized appreciation.................... $103,253
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $1,152 which represents 0.12% of
total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
135
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 0.3%
TRANSPORTATION -- 0.3%
$ 903 Delta Air Lines,
7.379%, 05/18/2010.............................. $ 879
--------
Total asset and commercial mortgage
backed securities
(cost $887)..................................... $ 879
--------
CORPORATE BONDS: INVESTMENT GRADE -- 2.4%
BASIC MATERIALS -- 0.7%
$ 590 Methanex Corp.,
8.75%, 08/15/2012............................... $ 654
1,220 Vale Overseas Ltd.,
8.25%, 01/17/2034............................... 1,318
--------
1,972
--------
CAPITAL GOODS -- 0.1%
340 Cummins, Inc.,
6.75%, 02/15/2027............................... 343
--------
TRANSPORTATION -- 1.6%
1,760 American Airlines, Inc.,
7.86%, 10/01/2011............................... 1,804
315 Continental Airlines, Inc.,
6.703%, 06/15/2021.............................. 298
1,120 Continental Airlines, Inc.,
7.49%, 10/02/2010............................... 1,103
2,016 Continental Airlines, Inc.,
8.05%, 05/01/2022............................... 2,000
--------
5,205
--------
Total corporate bonds: investment grade
(cost $7,531)................................... $ 7,520
--------
CORPORATE BONDS: NON-INVESTMENT GRADE -- 94.4%
BASIC MATERIALS -- 12.3%
$ 750 Abitibi-Consolidated Finance L.P.,
7.875%, 08/01/2009.............................. $ 718
1,615 AEP Industries, Inc.,
7.875%, 03/15/2013 H............................ 1,535
1,290 AK Steel Corp.,
7.75%, 06/15/2012 H............................. 1,161
917 Asia Aluminum Holdings Ltd.,
8.00%, 12/23/2011 M............................. 896
610 Boise Cascade LLC,
7.125%, 10/15/2014.............................. 543
1,310 California Steel Industries, Inc.,
6.125%, 03/15/2014.............................. 1,218
1,735 Cascades, Inc.,
7.25%, 02/15/2013............................... 1,544
1,000 Century Aluminum Co.,
7.50%, 08/15/2014............................... 988
1,650 CSN Islands IX Corp.,
10.00%, 01/15/2015.............................. 1,794
290 Domtar, Inc.,
7.125%, 08/01/2015 H............................ 245
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT Y VALUE U
- ---------- --------
BASIC MATERIALS -- (CONTINUED)
$ 1,400 Domtar, Inc.,
7.875%, 10/15/2011.............................. $ 1,281
700 Foundation PA Coal Co.,
7.25%, 08/01/2014............................... 716
890 Georgia-Pacific Corp.,
8.125%, 05/15/2011.............................. 966
2,000 Georgia-Pacific Corp.,
8.875%, 02/01/2010.............................. 2,190
1,320 Graham Packaging Co.,
9.875%, 10/15/2014 H............................ 1,234
1,820 Huntsman International LLC,
9.875%, 03/01/2009.............................. 1,911
EUR 90 Huntsman International LLC,
10.125%, 07/01/2009............................. 112
2,000 Koppers, Inc.,
9.875%, 10/15/2013.............................. 2,180
1,750 Nalco Co.,
7.75%, 11/15/2011............................... 2,223
EUR 960 Nalco Co.,
8.875%, 11/15/2013 H............................ 980
595 Nova Chemicals Corp.,
7.56%, 11/15/2013 MK............................ 601
2,640 Novelis, Inc.,
7.25%, 02/15/2015 M............................. 2,409
605 Oregon Steel Mills, Inc.,
10.00%, 07/15/2009 H............................ 649
1,445 Owens-Brockway Glass Container, Inc.,
8.75%, 11/15/2012............................... 1,550
1,250 Owens-Brockway Glass Container, Inc.,
8.875%, 02/15/2009.............................. 1,306
1,730 Plastipak Holdings, Inc.,
10.75%, 09/01/2011.............................. 1,894
650 Potlatch Corp.,
12.50%, 12/01/2009.............................. 778
1,030 Rockwood Specialties Group,
7.50%, 11/15/2014 M............................. 994
434 Rockwood Specialties Group,
10.625%, 05/15/2011............................. 464
850 Russel Metals, Inc.,
6.375%, 03/01/2014.............................. 825
440 Steel Dynamics, Inc.,
9.50%, 03/15/2009 H............................. 464
645 United States Steel Corp.,
9.75%, 05/15/2010............................... 703
419 United States Steel Corp.,
10.75%, 08/01/2008.............................. 465
890 Westlake Chemical Corp.,
8.75%, 07/15/2011............................... 952
--------
38,489
--------
CAPITAL GOODS -- 3.2%
1,310 Bombardier Recreational Products, Inc.,
8.375%, 12/15/2013.............................. 1,336
2,585 Bombardier, Inc.,
6.30%, 05/01/2014 MH............................ 2,236
865 Bombardier, Inc.,
6.75%, 05/01/2012 MH............................ 783
</Table>
The accompanying notes are an integral part of these financial statements.
136
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
CAPITAL GOODS -- (CONTINUED)
$ 425 Jorgensen (Earle M.) Co.,
9.75%, 06/01/2012............................... $ 455
1,525 K2, Inc.,
7.375%, 07/01/2014 H............................ 1,495
1,330 Rexnord Corp.,
10.125%, 12/15/2012............................. 1,456
1,100 Xerox Corp.,
6.875%, 08/15/2011.............................. 1,133
400 Xerox Corp.,
7.125%, 06/15/2010.............................. 416
570 Xerox Corp.,
9.75%, 01/15/2009............................... 629
--------
9,939
--------
CONSUMER CYCLICAL -- 11.3%
1,080 Amerigas Partners L.P.,
7.25%, 05/20/2015 M............................. 1,118
895 Asbury Automotive Group,
9.00%, 06/15/2012............................... 884
1,300 Brown Shoe Co., Inc.,
8.75%, 05/01/2012 H............................. 1,333
2,150 D.R. Horton, Inc.,
5.625%, 09/15/2014 H............................ 2,033
750 Desarrolladora Homes S.A.,
7.50%, 09/28/2015 MH............................ 724
9,400 Ford Motor Co.,
7.45%, 07/16/2031 H............................. 6,909
2,695 Goodyear Tire & Rubber Co.,
9.00%, 07/01/2015 M............................. 2,601
865 Group 1 Automotive, Inc.,
8.25%, 08/15/2013............................... 833
1,600 GSC Holdings Corp.,
8.00%, 10/01/2012 MH............................ 1,556
1,800 Ingles Markets, Inc.,
8.875%, 12/01/2011.............................. 1,802
2,350 Invista,
9.25%, 05/01/2012 M............................. 2,523
875 K. Hovnanian Enterprises, Inc.,
6.125%, 01/15/2015.............................. 789
875 KB Home,
6.25%, 06/15/2015 H............................. 823
1,650 Neiman Marcus Group, Inc.,
10.375%, 10/15/2015 M........................... 1,592
910 Penney (J.C.) Co., Inc.,
8.125%, 04/01/2027.............................. 942
910 Perry Ellis International, Inc.,
8.875%, 09/15/2013.............................. 917
670 Phillips Van-Heusen Corp.,
7.75%, 11/15/2023............................... 700
1,090 Stater Brothers Holdings, Inc.,
8.125%, 06/15/2012 H............................ 1,065
1,874 TRW Automotive, Inc.,
9.375%, 02/15/2013.............................. 2,015
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CONSUMER CYCLICAL -- (CONTINUED)
$ 2,440 United Auto Group, Inc.,
9.625%, 03/15/2012.............................. $ 2,534
1,400 Warnaco, Inc.,
8.875%, 06/15/2013.............................. 1,508
--------
35,201
--------
CONSUMER STAPLES -- 3.6%
255 Del Laboratories, Inc.,
9.23%, 11/01/2011 MHK........................... 254
1,295 Del Laboratories, Inc.,
8.00%, 02/01/2012 H............................. 971
865 Doane Pet Care Co.,
10.625%, 11/15/2015 M........................... 876
890 Dole Food Co., Inc.,
7.25%, 06/15/2010............................... 877
910 Dole Food Co., Inc.,
8.625%, 05/01/2009.............................. 941
1,560 Johnsondiversey, Inc.,
9.625%, 05/15/2012.............................. 1,544
950 Pierre Foods, Inc.,
9.875%, 7/15/2012............................... 960
1,750 Pilgrim's Pride Corp.,
9.25%, 11/15/2013............................... 1,921
315 Pilgrim's Pride Corp.,
9.625%, 09/15/2011.............................. 337
4,695 Tembec Industries, Inc.,
7.75%, 03/15/2012 H............................. 2,933
--------
11,614
--------
ENERGY -- 4.6%
750 Chesapeake Energy Corp.,
6.63%, 01/15/2016............................... 748
625 Chesapeake Energy Corp.,
6.875%, 01/15/2016.............................. 633
555 Chesapeake Energy Corp.,
7.75%, 01/15/2015 H............................. 588
1,600 Colorado Interstate Gas,
6.80%, 11/15/2015 M............................. 1,599
2,770 Comstock Resources, Inc.,
6.875%, 03/1/2012............................... 2,735
555 Ferrell Gas Partners L.P.,
8.75%, 06/15/2012............................... 549
3,685 Giant Industries, Inc.,
8.00%, 05/15/2014 H............................. 3,814
944 Magnum Hunter Resources, Inc.,
9.60%, 03/15/2012............................... 1,020
700 Plains Exploration & Production Co.,
8.75%, 07/01/2012............................... 747
1,100 Stone Energy Corp.,
6.75%, 12/15/2014............................... 1,045
905 Whiting Petroleum Corp.,
7.00%, 02/01/2014 MH............................ 907
--------
14,385
--------
</Table>
The accompanying notes are an integral part of these financial statements.
137
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
FINANCE -- 12.1%
$ 2,850 American Real Estate Partners L.P.,
7.125%, 02/15/2013 M............................ $ 2,772
1,868 BCP Crystal Holdings Corp.,
9.625%, 06/15/2014.............................. 2,055
295 Chukchansi Economic Development Authority,
7.76%, 11/15/2012 MKI........................... 295
600 Chukchansi Economic Development Authority,
8.00%, 11/15/2013 MI............................ 600
675 Felcor Lodging LP,
9.00%, 06/01/2011............................... 726
9,885 General Motors Acceptance Corp.,
6.875%, 09/15/2011.............................. 9,585
600 Host Marriott L.P.,
6.375%, 03/15/2015 H............................ 582
3,415 Host Marriott L.P.,
7.00%, 08/15/2012 H............................. 3,441
725 Inmarsat Finance plc,
7.625%, 06/30/2012.............................. 733
830 Kazkommerts International B.V.,
7.875%, 04/07/2014 M............................ 831
715 Kazkommerts International B.V.,
8.00%, 11/03/2015 M............................. 703
475 La Quinta Properties, Inc.,
7.00%, 08/15/2012............................... 485
1,250 La Quinta Properties, Inc.,
8.875%, 03/15/2011.............................. 1,334
2,465 Qwest Capital Funding, Inc.,
7.25%, 02/15/2011 H............................. 2,354
1,250 Rainbow National Services LLC,
10.375%, 09/01/2014 M........................... 1,375
1,485 Sensus Metering Systems, Inc.,
8.625%, 12/15/2013.............................. 1,351
880 Southern Star Central Corp.,
8.50%, 08/01/2010............................... 935
950 Trustreet Properties, Inc.,
7.50%, 04/01/2015............................... 962
2,060 TuranAlem Finance B.V.,
8.00%, 03/24/2014............................... 2,052
985 United Rentals North America, Inc.,
6.50%, 02/15/2012............................... 944
1,640 Universal City Florida,
8.44%, 05/01/2010 K............................. 1,679
605 Ventas Realty L.P. Capital Corp.,
8.75%, 05/01/2009............................... 646
1,250 Ventas Realty L.P. Capital Corp.,
9.00%, 05/01/2012............................... 1,406
--------
37,846
--------
HEALTH CARE -- 2.9%
1,345 HCA, Inc.,
5.50%, 12/01/2009............................... 1,310
645 HCA, Inc.,
6.375%, 01/15/2015 H............................ 633
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
HEALTH CARE -- (CONTINUED)
$ 675 Lifecare Holdings, Inc.,
9.25%, 08/15/2013 M............................. $ 500
2,485 Select Medical Corp.,
7.625%, 02/01/2015.............................. 2,305
1,475 Tenet Healthcare Corp.,
9.25%, 02/01/2015 M............................. 1,398
1,140 Tenet Healthcare Corp.,
9.875%, 07/01/2014.............................. 1,103
580 United Surgical Partners International, Inc.,
10.00%, 12/15/2011.............................. 626
1,190 Warner Chilcott Corp.,
8.75%, 02/01/2015 M............................. 1,094
--------
8,969
--------
SERVICES -- 16.0%
1,750 Allbritton Communications Co.,
7.75%, 12/15/2012............................... 1,728
1,250 Allied Waste North America, Inc.,
5.75%, 02/15/2011 H............................. 1,166
400 Allied Waste North America, Inc.,
7.875%, 04/15/2013 H............................ 410
1,900 Allied Waste North America, Inc.,
8.875%, 04/01/2008.............................. 1,981
280 Allied Waste North America, Inc.,
9.25%, 09/01/2012 H............................. 302
525 Boyd Gaming Corp.,
6.75%, 04/15/2014 H............................. 518
1,410 Boyd Gaming Corp.,
7.75%, 12/15/2012............................... 1,466
785 Cablevision Systems Corp,
8.00%, 04/15/2012............................... 750
2,295 Carriage Services, Inc.,
7.875%, 01/15/2015.............................. 2,352
1,270 Cenveo Corp.,
7.875%, 12/01/2013 H............................ 1,175
670 Cenveo Corp.,
9.625%, 03/15/2012.............................. 707
435 CSC Holdings, Inc.,
7.25%, 07/15/2008............................... 439
1,990 CSC Holdings, Inc.,
8.125%, 07/15/2009 H............................ 2,035
1,945 Dex Media, Inc.,
8.00%, 11/15/2013 H............................. 1,979
1,790 EchoStar Communications Corp.,
5.75%, 05/15/2008............................... 1,752
1,345 Intrawest Corp.,
7.50%, 10/15/2013............................... 1,369
1,550 Kerzner International Ltd.,
6.75%, 10/01/2015 M............................. 1,472
1,535 Knowledge Learning Center, Inc.,
7.75%, 02/01/2015 M............................. 1,427
905 Lamar Media Corp.,
7.25%, 01/01/2013............................... 939
1,000 Liberty Media Corp.,
8.25%, 02/01/2030 H............................. 938
1,875 Lin Television Corp.,
6.50%, 05/15/2013 MH............................ 1,776
</Table>
The accompanying notes are an integral part of these financial statements.
138
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
SERVICES -- (CONTINUED)
$ 1,275 Lodgenet Entertainment Corp.,
9.50%, 06/15/2013............................... $ 1,380
1,155 Medianews Group, Inc.,
6.875%, 10/01/2013.............................. 1,140
2,275 MGM Mirage, Inc.,
6.75%, 09/01/2012............................... 2,264
1,180 Mohegan Tribal Gaming Authority,
6.125%, 02/15/2013.............................. 1,142
590 Mohegan Tribal Gaming Authority,
6.375%, 07/15/2009 H............................ 590
1,085 Mohegan Tribal Gaming Authority,
7.125%, 08/15/2014.............................. 1,096
600 Penn National Gaming, Inc.,
6.75%, 03/01/2015............................... 576
1,100 Primedia, Inc.,
8.00%, 05/15/2013............................... 1,004
1,000 Quebecor Media, Inc.,
11.125%, 07/15/2011............................. 1,082
1,275 Scientific Games Corp.,
6.25%, 12/15/2012............................... 1,264
690 Service Corp. International,
6.75%, 04/01/2016 H............................. 678
300 Service Corp. International,
7.875%, 02/01/2013.............................. 316
1,480 Sheridan Group, Inc.,
10.25%, 08/15/2011.............................. 1,539
1,485 Sirius Satellite Radio, Inc.,
9.625%, 08/01/2013 M............................ 1,405
2,000 Station Casinos, Inc.,
6.50%, 02/01/2014 H............................. 1,995
1,710 Sungard Data Systems, Inc.,
9.125%, 08/15/2013 M............................ 1,736
200 Sungard Data Systems, Inc.,
10.25%, 08/15/2015 M............................ 198
1,325 Town Sports International, Inc.,
9.625%, 04/15/2011.............................. 1,361
365 Unisys Corp.,
6.875%, 03/15/2010.............................. 327
2,270 Wynn Las Vegas LLC Corp.,
6.625%, 12/01/2014 H............................ 2,161
--------
49,935
--------
TECHNOLOGY -- 17.8%
1,965 American Cellular Corp.,
10.00%, 08/01/2011.............................. 2,122
266 AT&T Corp.,
8.35%, 01/15/2025............................... 275
2,042 AT&T Corp.,
9.05%, 11/15/2011............................... 2,256
360 Atlantic Broadband Finance LLC,
9.375%, 01/15/2014.............................. 326
1,390 CCH I Holdings LLC,
10.00%, 05/15/2014 M............................ 897
1,300 Celestica, Inc.,
7.625%, 07/01/2013 H............................ 1,264
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
TECHNOLOGY -- (CONTINUED)
$ 1,385 Centennial Cellular Operating Co.,
10.125%, 06/15/2013............................. $ 1,548
1,390 Charter Communications Holdings LLC,
9.92%, 04/01/2011............................... 869
1,190 Charter Communications Operating LLC,
8.375%, 04/30/2014 M............................ 1,193
1,575 Charter Communications Operating LLC,
8.00%, 04/30/2012 M............................. 1,581
4,730 Cincinnati Bell, Inc.,
8.375%, 01/15/2014 H............................ 4,600
2,155 Citizens Communications Co.,
6.25%, 01/15/2013 H............................. 2,042
1,300 Dobson Cellular Systems,
9.875%, 11/01/2012.............................. 1,404
1,680 Fimep S.A.,
10.50%, 02/15/2013.............................. 1,903
1,292 Hawaiian Telecom Communications, Inc.,
9.75%, 05/01/2013 MH............................ 1,286
925 Houghton Mifflin Co.,
8.25%, 02/01/2011............................... 946
2,365 Intelsat Bermuda Ltd.,
8.25%, 01/15/2013 M............................. 2,359
1,600 Itron, Inc.,
7.75%, 05/15/2012............................... 1,632
330 L-3 Communications Corp.,
3.00%, 08/01/2035 M............................. 332
945 L-3 Communications Corp.,
6.125%, 07/15/2013.............................. 926
1,509 Lucent Technologies, Inc.,
6.45%, 03/15/2029............................... 1,290
794 MCI, Inc.,
7.69%, 05/01/2009............................... 823
493 MCI, Inc.,
8.735%, 05/01/2014.............................. 546
2,485 Mediacom LLC,
9.50%, 01/15/2013............................... 2,429
750 Ntelos Holdings Corp.,
12.90%, 10/15/2013 MK........................... 746
1,300 Qwest Corp.,
6.875%, 09/15/2033 H............................ 1,151
215 Qwest Corp.,
7.25%, 10/15/2035............................... 195
3,565 Qwest Corp.,
8.875%, 03/15/2012.............................. 3,913
1,920 Qwest Services Corp.,
13.50%, 12/15/2010 M............................ 2,194
4,240 Rogers Cable, Inc.,
6.25%, 06/15/2013............................... 4,123
200 Rogers Cantel,
9.75%, 06/01/2016 H............................. 240
770 Sanmina-SCI Corp.,
10.375%, 01/15/2010............................. 843
1,850 Spectrum Brands, Inc.,
7.375%, 02/01/2015 H............................ 1,598
305 Spectrum Brands, Inc.,
8.50%, 10/01/2013............................... 276
</Table>
The accompanying notes are an integral part of these financial statements.
139
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 1,960 Suncom Wireless, Inc.,
8.75%, 11/15/2011 H............................. $ 1,485
1,500 Time Warner Telecommunications, Inc.,
10.125%, 02/01/2011 H........................... 1,523
2,550 Valor Telecom Enterprise, Inc.,
7.75%, 02/15/2015............................... 2,496
--------
55,632
--------
TRANSPORTATION -- 0.9%
2,900 Trinity Industries, Inc.,
6.50%, 03/15/2014............................... 2,828
--------
UTILITIES -- 9.7%
1,825 AES China Generating Co., Ltd.,
8.25%, 06/26/2010............................... 1,855
1,270 AES Corp.,
8.75%, 05/15/2013 M............................. 1,372
2,280 Aquila, Inc.,
7.625%, 11/15/2009 H............................ 2,337
2,000 Chivor S.S. E.S.P.,
9.75%, 12/30/2014............................... 2,175
1,595 Dynegy Holdings, Inc.,
10.125%, 07/15/2013 M........................... 1,755
500 Edison Mission Energy Corp.,
7.73%, 06/15/2009............................... 519
2,100 Edison Mission Energy Corp.,
9.875%, 04/15/2011.............................. 2,447
400 Nevada Power Co.,
8.50%, 01/01/2023............................... 412
1,858 NRG Energy, Inc.,
8.00%, 12/15/2013............................... 2,025
2,380 Reliant Energy, Inc.,
6.75%, 12/15/2014............................... 2,213
730 Sierra Pacific Resources,
8.625%, 03/15/2014.............................. 796
1,000 Teco Energy, Inc.,
5.69%, 05/01/2010 MK............................ 1,030
1,296 Tenaska Alabama Partners L.P.,
7.00%, 06/30/2021 M............................. 1,316
5,170 Tennessee Gas Pipeline Co.,
7.50%, 04/01/2017............................... 5,441
3,572 Texas Genco LLC,
6.875%, 12/15/2014 M............................ 3,822
825 TXU Corp.,
5.55%, 11/15/2014 H............................. 758
--------
30,273
--------
Total corporate bonds: non-investment grade
(cost $301,917)................................. $295,111
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- ---------- --------
COMMON STOCK -- 0.0%
CONSUMER CYCLICAL -- 0.0%
1 Hosiery Corp. of America, Inc. Class A +BV........ $ @@
--------
Total common stock
(cost $21)...................................... $ @@
--------
PREFERRED STOCK
TECHNOLOGY -- 0.0%
20 Adelphia Communications Corp. B................... $ 1
--------
Total preferred stock
(cost $488)..................................... $ 1
--------
Total long-term investments
(cost $310,844)................................. $303,511
--------
<Caption>
PRINCIPAL
AMOUNT
- ----------
SHORT-TERM INVESTMENTS -- 20.1%
REPURCHASE AGREEMENTS -- 1.7%
$ 1,826 BNP Paribas Repurchase Agreement,
3.91%, 11/01/2005............................... $ 1,826
1,826 RBS Greenwich Repurchase Agreement,
3.92%, 11/01/2005............................... 1,826
1,779 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... 1,779
--------
5,431
--------
<Caption>
SHARES
- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 18.4%
57,292 Navigator Prime Portfolio......................... 57,292
--------
Total short-term investments
(cost $62,723).................................. $ 62,723
--------
Total investments in securities
(cost $373,567) O............................... $366,234
========
</Table>
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 11.18% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $@@, which represents @@% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $373,822 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 2,291
Unrealized depreciation......................... (9,879)
-------
Net unrealized depreciation..................... $(7,588)
=======
</Table>
Y All principal amounts are in U.S. dollars unless otherwise indicated.
EUR -- EURO
The accompanying notes are an integral part of these financial statements.
140
- --------------------------------------------------------------------------------
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
V The following securities are considered illiquid. Illiquid securities
are often purchased in private placement transactions, are not registered
under the Securities Act of 1933 and may have contractual restrictions on
resale. A security may also be considered illiquid if it lacks a readily
available market or if its valuation has not change for a certain period of
time.
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
10/1994 1 Hosiery Corp. of America,
Inc. Class A $21
</Table>
The aggregate value of these securities at October 31, 2005 was $@@,
which represents @@% of total net assets.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $59,134, which represents 18.92%
of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
I The cost of securities purchased on a when-issued basis at
October 31, 2005 was $895.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares, percentage and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
141
THE HARTFORD INCOME ALLOCATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ --------
AFFILIATED INVESTMENT COMPANIES -- 99.5%
FIXED INCOME FUNDS -- 90.6%
189 Hartford Floating Rate Fund, Class Y.............. $ 1,907
615 Hartford High Yield Fund, Class Y................. 4,768
124 Hartford Income Fund, Class Y..................... 1,272
507 Hartford Inflation Plus Fund, Class Y............. 5,413
711 Hartford Short Duration Fund, Class Y............. 6,992
800 Hartford Total Return Bond Fund, Class Y.......... 8,582
-------
Total fixed income funds
(cost $29,603).................................. $28,934
-------
MONEY MARKET FUND -- 8.9%
2,853 Hartford Money Market Fund, Class Y............... 2,853
-------
Total money market fund
(cost $2,853)................................... $ 2,853
-------
Total investments in affiliated investment
companies
(cost $32,456) O................................ $31,787
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $32,510 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................... $ --
Unrealized depreciation........................... (723)
-----
Net unrealized depreciation....................... $(723)
=====
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
142
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 0.5%
GENERAL OBLIGATIONS -- 0.2%
$ 150 State of Illinois,
5.10%, Taxable Pension, 06/01/2033.............. $ 144
MISCELLANEOUS -- 0.3%
150 Mashantucket Western Pequot Revenue Bond,
5.91%, Taxable, 09/01/2021 M.................... 148
-------
Total municipal bonds
(cost $300)..................................... $ 292
-------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 12.6%
FINANCE -- 12.5%
$ 67 AQ Finance CEB Trust,
9.04%, 08/25/2033 MK............................ $ 66
4 Asset Backed Funding Corp. NIM Trust,
4.55%, 12/26/2033 M............................. 4
4,146 Banc of America Commercial Mortgage, Inc.,
4.08%, 12/10/2042 W............................. 98
3,149 Banc of America Commercial Mortgage, Inc.,
5.50%,11/10/2039 MW............................. 83
25,306 Banc of America Commercial Mortgage, Inc.,
5.50%, 07/10/2043 MW............................ 253
8,169 Banc of America Commercial Mortgage, Inc.,
5.75%, 06/10/2039 MW............................ 105
54 Bank One Issuance Trust,
5.11%, 12/15/2010 K............................. 55
200 Bear Stearns Commercial Mortgage Securities, Inc.,
5.29%, 06/11/2041............................... 201
3,495 Bear Stearns Commercial Mortgage Securities, Inc.,
5.50%, 02/11/2041 MW............................ 82
50 Capital Auto Receivables Asset Trust,
4.73%, 09/15/2010............................... 49
37 Chase Funding Mortgage Loan Asset-Backed,
8.45%, 02/25/2030............................... 37
30 Chase Manhattan Auto Owner Trust,
2.57%, 02/16/2010............................... 29
45 Chemical Master Credit Card Trust,
7.09%, 02/15/2009............................... 46
150 Chuo Mitsui Trust & Banking Ltd.,
5.51%, 04/15/2049 M............................. 142
75 Citibank Credit Card Issuance Trust,
5.00%, 06/10/2015............................... 73
2,445 Citigroup Commercial Mortgage Trust,
4.10%, 10/15/2041 MW............................ 103
300 Citigroup Commercial Mortgage Trust,
5.059%, 05/15/2043.............................. 290
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
FINANCE -- (CONTINUED)
$ 6,392 Commercial Mortgage Pass-Through Certificates,
5.50%, 03/10/2039 MW............................ $ 153
49 Countrywide Asset-Backed Certificates,
5.46%, 05/25/2035............................... 48
200 Credit Suisse First Boston Mortgage Securities
Corp.,
3.81%, 12/15/2036............................... 194
2,954 Credit Suisse First Boston Mortgage Securities
Corp.,
4.15%, 11/15/2037 MW............................ 103
100 Equity One ABS, Inc.,
5.46%, 12/25/2033............................... 99
50 Equity One ABS, Inc.,
6.54%, 07/25/2034............................... 51
185 First Union-Lehman Brothers-Bank of America,
6.56%, 11/18/2035............................... 190
200 Ford Credit Auto Owner Trust,
4.19%, 07/15/2009............................... 197
100 Ford Credit Auto Owner Trust,
4.29%, 11/15/2007............................... 100
200 GE Capital Commercial Mortgage Corp.,
5.00%, 12/10/2037............................... 198
149 GMAC Commercial Mortgage Securities, Inc.,
3.34%, 05/10/2036............................... 141
200 GMAC Commercial Mortgage Securities, Inc.,
4.65%, 04/10/2040............................... 195
200 GMAC Commercial Mortgage Securities, Inc.,
5.30%, 08/10/2038............................... 200
125 Goldman Sachs Auto Loan Trust,
4.98%, 11/15/2013............................... 125
10 Green Tree Financial Corp.,
5.76%, 11/01/2018............................... 10
50 Green Tree Financial Corp.,
6.48%, 12/01/2030............................... 51
24 Green Tree Financial Corp.,
7.30%, 01/15/2026............................... 25
19 Green Tree Financial Corp.,
7.35%, 05/15/2027............................... 20
200 Greenwich Capital Commercial Funding Corp.,
4.02%, 01/05/2036............................... 194
4,866 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 W............................. 93
200 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.13%, 01/12/2038............................... 193
158 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.33%, 12/12/2034............................... 154
</Table>
The accompanying notes are an integral part of these financial statements.
143
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 175 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.38%, 10/12/2037............................... $ 171
188 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.95%, 11/12/2039............................... 182
2,388 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
5.50%, 01/15/2038 MW............................ 67
17,788 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
6.00%, 09/12/2037 MW............................ 196
190 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
6.16%, 05/12/2034............................... 199
26,198 LP-UBS Commercial Mortgage Trust,
5.26%, 06/15/2036 MW............................ 214
100 Marlin Leasing Receivables LLC,
4.52%, 03/15/2008 M............................. 99
100 Marlin Leasing Receivables LLC,
5.25%, 08/15/2012 M............................. 99
200 Merrill Lynch Mortgage Trust,
4.92%, 10/12/2041............................... 193
200 Morgan Stanley Capital I,
4.17%, 12/15/2041............................... 194
16,495 Morgan Stanley Capital I,
6.00%, 06/12/2047 MW............................ 198
115 Morgan Stanley Dean Witter Capital I,
5.38%, 01/15/2039............................... 116
48 Navistar Financial Corp. Owner Trust,
3.08%, 11/15/2009............................... 46
150 Residential Asset Mortgage Products, Inc.,
3.68%, 08/25/2026............................... 149
17 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 18
200 Wachovia Bank Commercial Mortgage Trust,
4.39%, 02/15/2041............................... 192
100 Wachovia Bank Commercial Mortgage Trust,
4.87%, 02/15/2035............................... 98
7,056 Wachovia Bank Commercial Mortgage Trust,
5.50%, 02/15/2041 MW............................ 161
37 WFS Financial Owner Trust,
3.05%, 12/20/2010............................... 37
-------
7,079
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
TRANSPORTATION -- 0.1%
$ 53 Northwest Airlines, Inc.,
6.81%, 02/01/2020............................... $ 49
-------
Total asset and commercial mortgage
backed securities
(cost $7,271)................................... $ 7,128
-------
CORPORATE BONDS: INVESTMENT GRADE -- 30.5%
BASIC MATERIALS -- 1.2%
$ 125 ICI Wilmington Co.,
5.625%, 12/01/2013.............................. $ 124
150 Inco Ltd.,
7.75%, 05/15/2012............................... 167
100 International Paper Co.,
5.25%, 04/01/2016............................... 93
65 Lubrizol Corp.,
5.50%, 10/01/2014............................... 64
125 Noranda, Inc.,
6.00%, 10/15/2015............................... 125
100 Vale Overseas Ltd.,
8.25%, 01/17/2034............................... 108
-------
681
-------
CAPITAL GOODS -- 0.7%
55 American Standard, Inc.,
7.375%, 02/01/2008.............................. 57
200 Hutchinson Whampoa International Ltd.,
6.25%, 01/24/2014 M............................. 207
50 Tyco International Group S.A.,
6.00%, 11/15/2013............................... 52
100 Tyco International Group S.A.,
6.375%, 02/15/2006.............................. 101
-------
417
-------
CONSUMER CYCLICAL -- 2.9%
110 Carnival Corp.,
6.65%, 01/15/2028............................... 121
150 Centex Corp.,
5.70%, 05/15/2014............................... 147
75 CRH America, Inc.,
5.30%, 10/15/2013............................... 75
100 D.R. Horton, Inc.,
5.625%, 09/15/2014.............................. 95
200 Ford Motor Co.,
7.45%, 07/16/2031............................... 147
150 Foster's Finance Corp.,
4.875%, 10/01/2014 M............................ 143
100 Lennar Corp.,
5.95%, 03/01/2013............................... 100
100 Ltd. Brands, Inc.,
5.25%, 11/01/2014............................... 91
175 May Department Stores Co.,
5.75%, 07/15/2014............................... 175
100 PHH Corp.,
6.00%, 03/01/2008............................... 101
50 PHH Corp.,
7.125%, 03/01/2013.............................. 53
</Table>
The accompanying notes are an integral part of these financial statements.
144
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 125 Pulte Homes, Inc.,
5.20%, 02/15/2015............................... $ 116
150 Safeway, Inc.,
5.625%, 08/15/2014.............................. 146
100 WMC Finance USA,
5.125%, 05/15/2013.............................. 100
-------
1,610
-------
CONSUMER STAPLES -- 0.5%
150 Tyson Foods, Inc.,
8.25%, 10/01/2011............................... 169
100 Weyerhaeuser Co.,
6.75%, 03/15/2012............................... 106
-------
275
-------
ENERGY -- 1.6%
50 Citgo Petroleum Corp.,
6.00%, 10/15/2011............................... 52
100 Gazprom International S.A.,
7.20%, 02/01/2020 M............................. 106
100 Noble Group Ltd.,
6.625%, 03/17/2015 M............................ 91
130 Pioneer Natural Resources Co.,
5.875%, 07/15/2016.............................. 124
15 Premcor Refining Group, Inc.,
9.25%, 02/01/2010............................... 16
125 USX Corp.,
9.375%, 02/15/2012.............................. 152
175 Valero Energy Corp.,
7.50%, 04/15/2032............................... 206
75 XTO Energy, Inc.,
4.90%, 02/01/2014............................... 72
75 XTO Energy, Inc.,
6.25%, 04/15/2013............................... 79
-------
898
-------
FINANCE -- 10.9%
125 ACE INA Holdings, Inc.,
5.875%, 06/15/2014.............................. 126
100 AMB Property L.P.,
7.50%, 06/30/2018............................... 113
100 ATF Bank JSC,
9.25%, 04/12/2012 M............................. 102
150 Archstone-Smith Operating Trust,
5.25%, 05/01/2015............................... 147
150 Arden Realty L.P.,
5.20%, 09/01/2011............................... 147
200 BAE Systems Holdings, Inc.,
5.20%, 08/15/2015 M............................. 194
100 Camden Property Trust,
5.00%, 06/15/2015............................... 95
125 Capital One Bank Corp.,
5.125%, 02/15/2014.............................. 121
75 Capital One Bank Corp.,
6.50%, 06/13/2013............................... 79
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
FINANCE -- (CONTINUED)
$ 150 CIT Group, Inc.,
5.125%, 09/30/2014.............................. $ 147
200 DaimlerChrysler N.A. Holdings Corp.,
6.50%, 11/15/2013............................... 207
150 EOP Operating L.P.,
4.75%, 03/15/2014............................... 142
100 Farmers Exchange Capital,
7.20%, 07/15/2048 M............................. 101
150 Glencore Funding LLC,
6.00%, 04/15/2014 M............................. 138
125 Goldman Sachs Group, Inc.,
5.15%, 01/15/2014............................... 123
75 Goldman Sachs Group, Inc.,
5.25%, 04/01/2013............................... 74
100 Household Finance Corp.,
7.00%, 05/15/2012............................... 109
225 HSBC Capital Funding L.P.,
4.61%, 12/27/2049 M............................. 210
100 HVB Funding Trust III,
9.00%, 10/22/2031 M............................. 131
165 iStar Financial, Inc.,
5.70%, 03/01/2014............................... 162
50 J.P. Morgan Chase & Co.,
5.125%, 09/15/2014.............................. 49
175 J.P. Morgan Chase & Co.,
5.25%, 05/01/2015............................... 173
40 Kazkommerts International B.V.,
7.875%, 04/07/2014 M............................ 40
75 Kazkommerts International B.V.,
7.875%, 04/07/2014.............................. 75
175 Key Bank N.A., Inc.,
5.80%, 07/01/2014............................... 181
175 MBNA Corp.,
6.125%, 03/01/2013.............................. 184
135 Merrill Lynch & Co., Inc.,
6.875%, 11/15/2018.............................. 152
200 Mizuho Financial Group, Inc.,
5.79%, 04/15/2014 M............................. 205
175 Morgan Stanley,
4.75%, 04/01/2014............................... 165
100 Natexis AMBS Co. LLC,
8.44%, 12/29/2049 M............................. 108
150 Northern Rock plc,
5.60%, 04/30/2049 M............................. 149
120 Pemex Project Funding Master Trust,
7.375%, 12/15/2014.............................. 131
50 Pemex Project Funding Master Trust,
7.75%, 09/28/2009............................... 51
85 Public Bank Berhad,
5.00%, 06/20/2017............................... 81
85 Public Bank Berhad,
5.625%, 06/22/2014.............................. 85
200 Rabobank Capital Funding II,
5.26%, 12/29/2049 M............................. 198
110 Residential Capital Corp.,
6.375%, 06/30/2010 M............................ 112
</Table>
The accompanying notes are an integral part of these financial statements.
145
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT Y VALUE U
- --------- -------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 100 Resona Bank Ltd.,
5.85%, 12/31/2049 M............................. $ 97
100 Santander Central Hispano Issuances Ltd.,
7.625%, 09/14/2010.............................. 111
75 Shurgard Storage Centers, Inc.,
5.875%, 03/15/2013.............................. 75
100 Sumitomo Mitsui Banking,
5.63%, 10/15/2015 M............................. 98
100 Swedbank Foreningssparbanken,
9.00%, 12/31/2049 M............................. 114
150 Toll Brothers Finance Corp.,
5.15%, 05/15/2015 M............................. 139
125 TuranAlem Finance B.V.,
8.00%, 03/24/2014............................... 124
100 UFJ Finance Aruba AEC,
6.75%, 07/15/2013............................... 108
100 Vornado Realty L.P.,
4.75%, 12/01/2010............................... 97
100 Washington Mutual, Inc.,
4.625%, 04/01/2014.............................. 94
150 Westfield Capital Corp.,
5.125%, 11/15/2014 M............................ 146
50 Westpac Capital Trust III,
5.82%, 09/30/2013 M............................. 51
100 Westpac Capital Trust IV,
5.26%, 12/31/2049 M............................. 97
-------
6,158
-------
FOREIGN GOVERNMENTS -- 1.2%
123 Argentina (Republic of),
4.00%, 08/03/2012 K............................. 112
BRL 250 Brazil (Federated Republic of),
12.50%, 01/05/2016.............................. 104
MXN 1,550 Mexican Fixed Rate Bonds,
8.00%, 12/19/2013............................... 136
100 South Africa (Republic of),
7.375%, 04/25/2012.............................. 111
100 Ukraine Government,
7.65%, 06/11/2013............................... 107
100 United Mexican States,
6.625%, 03/03/2015.............................. 107
-------
677
-------
HEALTH CARE -- 1.1%
100 Boston Scientific Corp.,
5.45%, 06/15/2014............................... 100
150 Cardinal Health, Inc.,
4.00%, 06/15/2015............................... 133
150 Manor Care, Inc.,
6.25%, 05/01/2013............................... 154
100 Universal Health Services, Inc.,
6.75%, 11/15/2011............................... 105
150 Wyeth,
5.50%, 02/01/2014............................... 151
-------
643
-------
</Table>
<Table>
<Caption>
PRINCIPAL Market
AMOUNT Y Value U
- --------- -------
SERVICES -- 3.8%
$ 10 American Greetings Corp.,
6.10%, 08/01/2028............................... $ 10
175 Belo Corp.,
7.25%, 09/15/2027............................... 178
150 Clear Channel Communications, Inc.,
5.50%, 09/15/2014............................... 141
100 Comcast Cable Communications, Inc.,
6.75%, 01/30/2011............................... 106
100 Comcast Cable Communications, Inc.,
8.875%, 05/01/2017.............................. 123
175 Donnelley (R.R.) & Sons Co.,
5.50%, 05/15/2015 M............................. 169
75 Harrah's Operating Co., Inc.,
5.375%, 12/15/2013.............................. 72
100 Hilton Hotels Corp.,
7.50%, 12/15/2017............................... 107
150 Hyatt Equities LLC,
6.875%, 06/15/2007 M............................ 152
100 ITT Corp.,
7.375%, 11/15/2015.............................. 106
100 InterActive Corp.,
7.00%, 01/15/2013............................... 102
175 Liberty Media Corp.,
5.70%, 05/15/2013............................... 158
150 Marriott International, Inc.,
7.875%, 09/15/2009.............................. 164
150 News America Holdings, Inc.,
7.75%, 01/20/2024............................... 167
50 News America Holdings, Inc.,
9.25%, 02/01/2013............................... 61
150 Scholastic Corp.,
5.00%, 04/15/2013............................... 137
150 Tele-Communications, Inc.,
7.875%, 08/01/2013.............................. 169
-------
2,122
-------
TECHNOLOGY -- 3.2%
55 AT&T Corp.,
9.05%, 11/15/2011............................... 61
MXN 1,200 American Movil SA de CV,
9.00%, 01/15/2016............................... 107
100 British Sky Broadcasting Group plc,
6.875%, 02/23/2029.............................. 105
210 Cingular Wireless Services, Inc.,
8.125%, 05/01/2012.............................. 242
200 Cox Communications, Inc.,
4.625%, 06/01/2013.............................. 186
150 Deutsche Telekom International Finance B.V.,
5.25%, 07/22/2013............................... 148
150 France Telecom S.A.,
8.00%, 03/01/2011............................... 167
150 Motorola, Inc.,
8.00%, 11/01/2011............................... 173
95 PerkinElmer, Inc.,
8.875%, 01/15/2013.............................. 106
</Table>
The accompanying notes are an integral part of these financial statements.
146
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 100 Sprint Capital Corp.,
6.90%, 05/01/2019............................... $ 109
150 Thomas & Betts Corp.,
7.25%, 06/01/2013............................... 158
50 Time Warner Entertainment Co. L.P.,
8.375%, 03/15/2023.............................. 59
160 Turner Broadcasting System, Inc.,
8.375%, 07/01/2013.............................. 185
-------
1,806
-------
TRANSPORTATION -- 1.2%
125 American Airlines, Inc.,
7.86%, 10/01/2011............................... 128
100 Continental Airlines, Inc.,
6.56%, 02/15/2012............................... 103
100 Continental Airlines, Inc.,
7.487%, 10/02/2010.............................. 99
58 Continental Airlines, Inc.,
8.048%, 05/01/2022 57
150 Royal Caribbean Cruises Ltd.,
6.875%, 12/01/2013.............................. 155
150 Trinity Industries, Inc.,
6.50%, 03/15/2014............................... 146
-------
688
-------
UTILITIES -- 1.7%
100 Appalachian Power Co.,
5.00%, 06/01/2017............................... 95
75 Consumers Energy Co.,
5.375%, 04/15/2013.............................. 75
50 Consumers Energy Co.,
6.00%, 02/15/2014............................... 52
150 Duke Energy Corp.,
5.30%, 10/01/2015............................... 150
125 Kinder Morgan, Inc.,
5.15%, 03/01/2015............................... 121
65 Nevada Power Co.,
9.00%, 08/15/2013............................... 72
100 Tampa Electric Co.,
6.375%, 08/15/2012.............................. 106
100 Texas-New Mexico Power Co.,
6.125%, 06/01/2008.............................. 101
200 TransAlta Corp.,
5.75%, 12/15/2013............................... 202
-------
974
-------
Total corporate bonds:
investment grade
(cost $17,346).................................. $17,203
-------
CORPORATE BONDS: NON-INVESTMENT -- 25.1%
BASIC MATERIALS -- 3.1%
$ 70 Aep Industries, Inc.,
7.875%, 03/15/2013.............................. $ 66
100 AK Steel Corp.,
7.75%, 06/15/2012............................... 90
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
BASIC MATERIALS -- (CONTINUED)
$ 100 Asia Aluminum Holdings Ltd.,
8.00%, 12/23/2011 M............................. $ 98
45 Boise Cascade LLC,
7.125%, 10/15/2014.............................. 40
100 California Steel Industries, Inc.,
6.125%, 03/15/2014.............................. 93
70 Crown European Holdings S.A.,
9.50%, 03/01/2011............................... 77
100 CSN Islands IX Corp.,
10.00%, 01/15/2015.............................. 109
150 Domtar, Inc.,
5.375%, 12/01/2013.............................. 119
100 Georgia-Pacific Corp.,
8.875%, 05/15/2031.............................. 114
75 International Steel Group, Inc.,
6.50%, 04/15/2014............................... 74
150 Koppers, Inc.,
9.875%, 10/15/2013.............................. 163
80 Norilsk Nickel Finance S.A.,
7.125%, 09/30/2009.............................. 80
55 Nova Chemicals Corp.,
7.56%, 11/15/2013 M............................. 56
145 Novelis, Inc.,
7.25%, 02/15/2015 M............................. 132
75 Owens-Brockway Glass Container, Inc.,
8.75%, 11/15/2012............................... 80
75 Plastipak Holdings, Inc.,
10.75%, 09/01/2011.............................. 82
65 Russel Metals, Inc.,
6.375%, 03/01/2014.............................. 63
33 United States Steel Corp.,
10.75%, 08/01/2008.............................. 37
100 Vedanta Resource plc,
6.625%, 02/22/2010.............................. 96
52 Westlake Chemical Corp.,
8.75%, 07/15/2011............................... 56
-------
1,725
-------
CAPITAL GOODS -- 0.9%
100 Bombardier Recreational Products, Inc.,
8.375%, 12/15/2013.............................. 102
100 Bombardier, Inc.,
6.75%, 05/01/2012 M............................. 91
20 Grant Prideco, Inc.,
6.125%, 08/15/2015 M............................ 20
100 K2, Inc.,
7.375%, 07/01/2014.............................. 98
145 Rexnord Corp.,
10.125%, 12/15/2012............................. 159
25 Terex Corp.,
7.375%, 01/15/2014.............................. 25
-------
495
-------
CONSUMER CYCLICAL -- 1.9%
50 Brown Shoe Co., Inc.,
8.75%, 05/01/2012............................... 51
</Table>
The accompanying notes are an integral part of these financial statements.
147
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 100 Desarrolladora Homes S.A.,
7.50%, 09/28/2015 M............................. $ 96
80 Goodyear Tire & Rubber Co.,
9.00%, 07/01/2015 M............................. 77
135 GSC Holdings Corp.,
8.00%, 10/01/2012 M............................. 131
175 Ingles Markets, Inc.,
8.875%, 12/01/2011.............................. 175
50 Invista,
9.25%, 05/01/2012 M............................. 54
125 Neiman Marcus Group, Inc.,
10.375%, 10/15/2015 M........................... 121
75 Phillips Van-Heusen Corp.,
7.75%, 11/15/2023............................... 78
105 Stater Brothers Holdings, Inc.,
8.125%, 06/15/2012.............................. 103
65 United Auto Group, Inc.,
9.625%, 03/15/2012.............................. 68
100 Warnaco, Inc.,
8.875%, 06/15/2013.............................. 108
-------
1,062
-------
CONSUMER STAPLES -- 1.1%
45 Del Laboratories, Inc.,
9.23%, 11/01/2011 M............................. 45
75 Del Monte Corp.,
6.75%, 02/15/2015 M............................. 73
115 Doane Pet Care Co.,
10.625%, 11/15/2015 M........................... 116
1 Dole Food Co., Inc.,
8.875%, 03/15/2011.............................. 1
90 Pierre Foods, Inc.,
9.875%, 07/15/2012.............................. 91
100 Pilgrim's Pride Corp.,
9.25%, 11/15/2013............................... 110
100 Smithfield Foods, Inc.,
7.75%, 05/15/2013............................... 105
100 Tembec Industries, Inc.,
7.75%, 03/15/2012............................... 63
-------
604
-------
ENERGY -- 1.5%
50 Colorado Interstate Gas,
6.80%, 11/15/2015 M............................. 50
120 Comstock Resources, Inc.,
6.875%, 03/01/2012.............................. 119
100 Gazprom OAO,
9.625%, 03/01/2013 M............................ 120
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
ENERGY -- (CONTINUED)
$ 100 Giant Industries, Inc.,
8.00%, 05/15/2014............................... $ 104
50 MEI Euro Finance Ltd,
8.75%, 05/22/2010............................... 51
100 Naftogaz Ukrainy,
8.125%, 09/30/2009.............................. 104
85 Pogo Producing Co.,
6.875%, 10/01/2017 M............................ 84
50 Stone Energy Corp.,
6.75%, 12/15/2014............................... 48
150 Whiting Petroleum Corp.,
7.00%, 02/01/2014 M............................. 150
-------
830
-------
FINANCE -- 6.3%
110 American Real Estate Partners L.P.,
7.125%, 02/15/2013 M............................ 107
60 Antam Finance Ltd.,
7.375%, 09/30/2010.............................. 60
110 Banco Votorantim S.A.,
6.875%, 10/14/2015 M............................ 107
75 BCP Crystal Holdings Corp.,
9.625%, 06/15/2014.............................. 83
1,850 Dow Jones CDX HY,
6.75%, 06/29/2010 M............................. 1,811
792 Dow Jones CDX HY,
8.25%, 06/29/2010 M............................. 781
21 Forest City Enterprises, Inc.,
7.625%, 06/01/2015.............................. 22
50 General Motors Acceptance Corp.,
6.75%, 12/01/2014............................... 48
200 General Motors Acceptance Corp.,
8.00%, 11/01/2031............................... 206
100 Host Marriott L.P.,
6.375%, 03/15/2015.............................. 97
85 Inmarsat Finance plc,
7.625%, 06/30/2012.............................. 86
150 Qwest Capital Funding, Inc.,
7.25%, 02/15/2011............................... 143
-------
3,551
-------
FOREIGN GOVERNMENTS -- 2.2%
100 Brazil (Republic of),
7.875%, 03/07/2015.............................. 102
25 Brazil (Republic of),
8.875%, 04/15/2024.............................. 26
35 Brazil (Republic of),
10.50%, 07/14/2014.............................. 41
</Table>
The accompanying notes are an integral part of these financial statements.
148
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
FOREIGN GOVERNMENTS -- (CONTINUED)
$ 100 Colombia (Republic of),
10.00%, 01/23/2012.............................. $ 118
25 Colombia (Republic of),
10.375%, 01/28/2033............................. 31
70 Dominican Republic,
9.50%, 09/27/2011............................... 83
75 Ecuador (Republic of),
9.00%, 08/15/2030............................... 67
30 El Salvador (Republic of),
8.25%, 04/10/2032............................... 31
50 Indonesia (Republic of),
7.25%, 04/20/2015............................... 49
75 Lebanese Republic,
10.125%, 08/06/2008............................. 81
100 Panama (Republic of),
7.25%, 03/15/2015............................... 105
60 Panama (Republic of),
8.875%, 09/30/2027.............................. 70
40 Panama (Republic of),
9.375%, 01/16/2023.............................. 49
90 Peru (Republic of),
8.75%, 11/21/2033............................... 103
70 Philippines (Republic of),
10.625%, 03/16/2025............................. 81
25 Republic of El Salvador,
8.25%, 04/10/2032............................... 26
50 Turkey (Republic of),
9.875%, 03/19/2008.............................. 54
50 Uruguay (Republic of),
7.50%, 03/15/2015............................... 49
100 Venezuela (Republic of),
5.375%, 08/07/2010.............................. 96
-------
1,262
-------
HEALTH CARE -- 0.3%
100 HCA, Inc.,
6.95%, 05/01/2012............................... 102
100 Select Medical Corp.,
7.625%, 02/01/2015.............................. 93
-------
195
-------
SERVICES -- 2.8%
110 Allied Waste North America, Inc.,
5.75%, 02/15/2011............................... 103
65 CSC Holdings, Inc.,
8.125%, 07/15/2009.............................. 66
100 Dex Media, Inc.,
8.00%, 11/15/2013............................... 102
70 EchoStar DBS Corp.,
5.75%, 10/01/2008............................... 68
125 Kerzner International Ltd.,
6.75%, 10/01/2015 M............................. 119
85 Knowledge Learning Center, Inc.,
7.75%, 02/01/2015 M............................. 79
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
SERVICES -- (CONTINUED)
$ 30 Lamar Media Corp.,
7.25%, 01/01/2013............................... $ 31
25 Lin Television Corp.,
6.50%, 05/15/2013 M............................. 24
130 Lodgenet Entertainment Corp.,
9.50%, 06/15/2013............................... 141
75 Medianews Group, Inc.,
6.875%, 10/01/2013.............................. 74
100 Mohegan Tribal Gaming Authority,
6.125%, 02/15/2013.............................. 97
125 Penn National Gaming, Inc.,
6.75%, 03/01/2015............................... 120
110 Reader's Digest Association, Inc.,
6.50%, 03/01/2011............................... 110
100 Service Corp. International,
7.70%, 04/15/2009............................... 104
100 Sheridan Group, Inc.,
10.25%, 08/15/2011.............................. 104
50 Sirius Satellite Radio, Inc.,
9.625%, 08/01/2013 M............................ 47
50 Sungard Data Systems, Inc.,
9.125%, 08/15/2013 M............................ 51
125 Town Sports International, Inc.,
9.625%, 04/15/2011.............................. 128
-------
1,568
-------
TECHNOLOGY -- 3.5%
40 Atlantic Broadband Finance LLC,
9.375%, 01/15/2014.............................. 36
85 Ce Casecnan Water & Energy,
11.95%, 11/15/2010.............................. 92
130 Charter Communications Operating LLC,
8.00%, 04/30/2012 M............................. 130
150 Cincinnati Bell, Inc.,
8.375%, 01/15/2014.............................. 146
100 Citizens Communications Co.,
6.25%, 01/15/2013............................... 95
60 DaVita, Inc.,
6.625%, 03/15/2013.............................. 61
60 Fimep S.A.,
10.50%, 02/15/2013.............................. 68
35 Fisher Scientific International, Inc.,
6.75%, 08/15/2014............................... 36
50 Hawaiian Telecom Communications, Inc.,
9.75%, 05/01/2013 M............................. 50
85 Houghton Mifflin Co.,
8.25%, 02/01/2011............................... 87
110 Intelsat Ltd.,
6.50%, 11/01/2013............................... 81
100 Itron, Inc.,
7.75%, 05/15/2012............................... 102
95 L-3 Communications Corp.,
6.125%, 07/15/2013.............................. 93
135 MCI, Inc.,
7.69%, 05/01/2009............................... 140
</Table>
The accompanying notes are an integral part of these financial statements.
149
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 80 Mediacom LLC,
9.50%, 01/15/2013............................... $ 78
100 Mobile Telesystems Finance S.A.,
8.00%, 01/28/2012............................... 103
150 Nextel Partners, Inc.,
8.125%, 07/01/2011.............................. 160
100 Rogers Cable, Inc.,
6.25%, 06/15/2013............................... 97
150 Rogers Wireless Communications, Inc.,
6.375%, 03/01/2014.............................. 150
50 Spectrum Brands, Inc.,
7.375%, 02/01/2015.............................. 43
125 Valor Telecom Enterprise, Inc.,
7.75%, 02/15/2015 M............................. 122
-------
1,970
-------
TRANSPORTATION -- 0.2%
100 Hornbeck Offshore Services, Inc.,
6.125%, 12/01/2014.............................. 98
30 Hornbeck Offshore Services, Inc.,
6.125%, 12/01/2014 M............................ 29
-------
127
-------
UTILITIES -- 1.8%
100 AES China Generating Co., Ltd.,
8.25%, 06/26/2010............................... 102
100 Chivor S.S. E.S.P.,
9.75%, 12/30/2014............................... 109
110 Citco Trustees Cayman Ltd.,
8.5%, 12/21/2014 M.............................. 112
60 CMS Energy Corp.,
8.50%, 04/15/2011............................... 66
75 National Power Corp.,
9.875%, 03/16/2010.............................. 79
50 NorthWestern Corp.,
7.30%, 12/01/2006 M............................. 51
97 NRG Energy, Inc.,
8.00%, 12/15/2013............................... 106
55 Reliant Energy, Inc.,
6.75%, 12/15/2014............................... 51
105 TECO Energy, Inc.,
7.20%, 05/01/2011............................... 110
100 Tenaska Alabama Partners L.P.,
7.00%, 06/30/2021 M............................. 100
100 Tennessee Gas Pipeline Co.,
8.375%, 06/15/2032.............................. 112
35 Texas Genco LLC,
6.875%, 12/15/2014 M............................ 37
-------
1,035
-------
Total corporate bonds: non-investment
(cost $14,323).................................. $14,170
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
U.S. GOVERNMENT SECURITIES -- 10.6%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.6%
$ 350 Federal Home Loan Bank,
4.30% 2008...................................... $ 344
-------
U.S. TREASURY SECURITIES -- 10.0%
1,420 1.875% 2015 J..................................... 1,419
3,295 3.875% 2009 J[ ].................................. 4,223
-------
5,642
-------
Total U.S. government securities
(cost $6,031)................................... $ 5,986
-------
U.S. GOVERNMENT AGENCIES -- 19.5%
FEDERAL HOME LOAN MORTGAGE -- 9.8%
$ 200 4.10% 2014........................................ $ 194
2,135 4.125% 2010....................................... 2,076
572 5.50% 2032........................................ 566
1,300 6.00% 2032........................................ 1,323
1,356 6.50% 2032........................................ 1,399
-------
5,558
-------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 9.7%
1,243 5.00% 2017 -- 2035................................ 1,213
3,770 5.50% 2032 -- 2034................................ 3,723
519 6.00% 2035........................................ 524
-------
5,460
-------
Total U.S. government agencies
(cost $11,261).................................. $11,018
-------
Total long-term investments
(cost $56,532).................................. $55,797
-------
SHORT-TERM INVESTMENTS -- 0.8%
REPURCHASE AGREEMENTS -- 0.8%
$ 150 BNP Paribas Repurchase Agreement,
3.91%, 11/01/2005............................... $ 150
150 RBS Greenwich Repurchase Agreement,
3.92%, 11/01/2005............................... 150
146 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... 146
-------
Total short-term investments
(cost $446)..................................... $ 446
-------
Total investments in securities
(cost $56,978) O................................ $56,243
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 13.76% of total net assets at October 31, 2005.
Y All principal amounts are in U.S. dollars unless otherwise indicated.
MXN -- Mexican Peso
BRL -- Brazilian Real
The accompanying notes are an integral part of these financial statements.
150
- --------------------------------------------------------------------------------
O At October 31, 2005, the cost of securities for federal income tax
purposes is $56,979 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 439
Unrealized depreciation......................... (1,175)
-------
Net unrealized depreciation..................... $ (736)
=======
</Table>
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $10,854, which represents 19.22% of total net
assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
J 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.
W The interest rates disclosed for interest only strips represent
effective yields based upon estimated future cash flows at October 31,
2005.
[ ]Security pledged as initial margin deposit for open futures contracts
at October 31, 2005.
FUTURES CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
APPRECIATION
NUMBER OF (DEPRECIATION)
DESCRIPTION CONTRACTS POSITION EXPIRATION AT 10/31/2005
----------- --------- -------- ------------- --------------
CBT 10 Year
U.S. Treasury Note
futures contracts 35 Short December 2005 $68
===
</Table>
These contracts had a market value of $3,863 as of
October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- -------- --------------
Mexican Peso Buy $243 $240 12/13/05 $(3)
</Table>
The accompanying notes are an integral part of these financial statements.
151
THE HARTFORD INFLATION PLUS FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT Y VALUE U
- --------- ---------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 1.3%
FINANCE -- 1.3%
$ 1,186 American Express Credit Account Master Trust,
4.47%, 02/15/2012 M............................. $ 1,189
3,000 Countrywide Asset Backed Certificates,
4.24%, 07/25/2035............................... 3,000
1,900 Granite Mortgages plc,
4.48%, 09/20/2044............................... 1,903
1,828 Granite Mortgages plc,
5.55%, 10/20/2041 K............................. 1,841
3,000 Permanent Financing plc,
4.65%, 06/10/2042 K............................. 3,031
2,000 Wachovia Bank Commercial Mortgage Trust,
4.43%, 10/15/2015 M............................. 2,002
--------
12,966
--------
Total asset and commercial mortgage backed
securities
(cost $12,941).................................. $ 12,966
--------
CORPORATE BONDS: INVESTMENT GRADE -- 1.7%
FINANCE -- 0.3%
2,600 SLM Corp.,
4.30%, 04/01/2009 K............................. $ 2,534
--------
FOREIGN GOVERNMENTS -- 1.4%
EUR 4,250 Germany (Federal Republic of),
2.25%, 12/15/2006............................... 5,080
GBP 5,350 UK Treasury,
4.75%, 09/07/2015............................... 9,776
--------
14,856
--------
Total corporate bonds: investment grade
(cost $17,584).................................. $ 17,390
--------
U.S. GOVERNMENT SECURITIES -- 89.5%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.4%
$ 3,000 Tennessee Valley Authority,
3.375%, 01/15/2007 J............................ $ 3,814
--------
U.S. TREASURY SECURITIES -- 89.1%
24,395 0.875% 2010 J..................................... 24,305
89,362 1.625% 2015 J..................................... 89,161
57,535 1.875% 2013 J..................................... 61,190
54,530 1.875% 2015 J..................................... 54,501
117,936 2.00% 2014 J...................................... 124,862
64,490 2.375% 2025 J..................................... 69,921
69,265 3.00% 2012 J...................................... 80,900
18,265 3.375% 2007 -- 2032 J............................. 25,464
20,455 3.50% 2011 J...................................... 25,003
100,857 3.625% 2008 -- 2028 J............................. 137,859
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ---------
U.S. TREASURY SECURITIES -- (CONTINUED)
$ 108,962 3.875% 2009 -- 2029 J............................. $159,108
32,695 4.25% 2010 J...................................... 42,071
--------
894,345
--------
Total U.S. government securities
(cost $902,113)................................. $898,159
--------
Total long-term investments
(cost $932,638)................................. $928,515
--------
SHORT-TERM INVESTMENTS -- 2.0%
REPURCHASE AGREEMENTS -- 2.0%
$ 6,606 BNP Paribas Repurchase Agreement,
3.91%, 11/01/2005............................... $ 6,606
6,606 RBS Greenwich Repurchase Agreement,
3.92%, 11/01/2005............................... 6,606
6,436 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... 6,436
--------
19,648
--------
U.S. TREASURY SECURITIES
50 US Treasury Bill,
3.43%, 12/15/2005............................... 50
--------
Total short-term investments
(cost $19,698).................................. $ 19,698
--------
Total investments in securities
(cost $952,336) O............................... $948,213
========
</Table>
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 2.16% of total net assets at October 31, 2005.
Y All principal amounts are in U.S. dollars unless otherwise indicated.
EUR -- EURO
GBP -- British Pound
O At October 31, 2005, the cost of securities for federal income tax
purposes is $954,904 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 2,060
Unrealized depreciation......................... (8,751)
-------
Net unrealized depreciation..................... $(6,691)
=======
</Table>
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $3,191, which represents 0.32% of total net
assets.
The accompanying notes are an integral part of these financial statements.
152
- --------------------------------------------------------------------------------
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
J 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.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Buy $2,591 $2,593 11/02/2005 $ (2)
British Pound Sell 9,874 9,859 01/06/2006 (15)
----
$(17)
====
</Table>
The accompanying notes are an integral part of these financial statements.
153
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.7%
BRAZIL -- 1.0%
61 Companhia Vale do Rio Doce ADR.................... $ 2,525
--------
CANADA -- 7.4%
50 Cameco Corp. ..................................... 2,390
61 Canadian Pacific Railway Ltd. .................... 2,520
30 Inco Ltd. ........................................ 1,215
116 Petro-Canada...................................... 4,032
61 Research In Motion Ltd. BH........................ 3,745
41 SNC-Lavalin Group, Inc. .......................... 2,615
58 Talisman Energy, Inc. ............................ 2,569
--------
19,086
--------
FINLAND -- 1.8%
269 Nokia Oyj +....................................... 4,508
--------
FRANCE -- 14.4%
180 Altran Technologies S.A. +B....................... 2,104
64 Cie Generale d'Optique Essilor International S.A.
+H.............................................. 5,256
106 Dassault Systemes S.A. H+......................... 5,470
60 LVMH Moet Hennessy Louis Vuitton S.A. +H.......... 4,835
12 Pinault-Printemps-Redoute S.A. +.................. 1,306
19 PSA Peugeot Citroen +............................. 1,168
129 Publicis Groupe +H................................ 4,254
21 Unibail +H........................................ 2,821
92 Veolia Environnment S.A. +H....................... 3,821
193 Vivendi Universal S.A. +H......................... 6,070
--------
37,105
--------
GERMANY -- 9.6%
23 Adidas-Salomon AG +H.............................. 3,874
37 Allianz AG +...................................... 5,283
126 Bayerische Hypo Und Vereinsbank AG B.............. 3,520
67 Merck KGaA +...................................... 5,553
33 Muenchener Rueckversicherungs-Gesellschaft AG +... 3,846
37 Siemens AG +...................................... 2,744
--------
24,820
--------
HONG KONG -- 0.5%
127 Hutchison Whampoa Ltd. +.......................... 1,208
--------
IRELAND -- 0.8%
42 Ryanair Holdings plc ADR BH....................... 2,072
--------
ISRAEL -- 1.5%
98 Teva Pharmaceutical Industries Ltd. ADR........... 3,732
--------
ITALY -- 1.4%
131 Ente Nazionale Idrocarburi S.p.A. +H.............. 3,494
--------
JAPAN -- 20.2%
96 Eisai Co., Ltd. +H................................ 3,756
51 Fanuc Ltd. +...................................... 4,051
@@ Japan Tobacco, Inc. +............................. 4,632
112 JSR Corp. +....................................... 2,647
15 Keyence Corp. +................................... 3,336
193 Komatsu Ltd. +.................................... 2,572
104 Koyo Seiko Co., Ltd. +H........................... 1,671
204 Matsushita Electric Industrial Co., Ltd. +H....... 3,738
@@ Mitsubishi UFJ Financial Group, Inc. +............ 3,808
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
JAPAN -- (CONTINUED)
288 Nippon Electric Glass Co., Ltd. +H................ $ 5,513
1 NTT DoCoMo, Inc. +................................ 1,283
103 Seven & I Holdings Co., Ltd. ..................... 3,358
42 Shionogi & Co., Ltd. +............................ 511
64 Shizuoka Bank Ltd. +.............................. 672
38 Softbank Corp. +H................................. 2,154
116 Toyota Motor Corp. +.............................. 5,360
189 Yamato Holdings Co., Ltd. +....................... 3,113
--------
52,175
--------
LUXEMBOURG -- 2.3%
239 Citigroup Global Certificate -- Bharti
Televentures BM................................. 1,708
266 SES Global S.A. +................................. 4,208
--------
5,916
--------
MEXICO -- 2.0%
72 Grupo Televisa S.A. ADR........................... 5,241
--------
NETHERLANDS -- 3.6%
53 European Aeronautic Defence and Space Co. N.V.
+H.............................................. 1,851
153 Koninklijke (Royal) Philips Electronics N.V. +.... 4,009
58 Royal Numico N.V. +B.............................. 2,339
30 TomTom N.V. +B.................................... 1,144
--------
9,343
--------
SOUTH AFRICA -- 0.9%
74 Sasol Ltd. +...................................... 2,347
--------
SOUTH KOREA -- 0.9%
34 Hana Bank +....................................... 1,233
2 Samsung Electronics Co., Ltd. +................... 1,198
--------
2,431
--------
SPAIN -- 1.6%
234 Banco Bilbao Vizcaya Argentaria S.A. +H........... 4,118
--------
SWEDEN -- 2.4%
68 Atlas Copco AB +.................................. 1,243
1,513 Telefonaktiebolaget LM Ericsson +................. 4,958
--------
6,201
--------
SWITZERLAND -- 10.7%
140 Credit Suisse Group +............................. 6,194
10 Kuehne & Nagel International AG +................. 2,435
23 Nestle S.A. +..................................... 6,868
37 Roche Holding AG +................................ 5,488
59 Swatch Group AG +................................. 1,687
59 UBS AG H+......................................... 5,021
--------
27,693
--------
UNITED KINGDOM -- 13.7%
87 Anglo American plc +.............................. 2,569
85 AstraZeneca plc +................................. 3,803
1,225 Carphone Warehouse Group plc +.................... 4,255
1,444 EMI Group plc +................................... 5,475
203 Reckitt Benckiser plc +........................... 6,135
60 Rio Tinto plc +................................... 2,276
316 Standard Chartered plc +.......................... 6,643
</Table>
The accompanying notes are an integral part of these financial statements.
154
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
UNITED KINGDOM -- (CONTINUED)
885 Vodafone Group plc +.............................. $ 2,324
84 Xstrata plc H+.................................... 1,913
--------
35,393
--------
Total common stock
(cost $235,900)................................. $249,408
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 20.3%
REPURCHASE AGREEMENTS -- 3.1%
$ 273 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 273
3,019 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 3,019
1,933 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,933
2,860 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 2,860
--------
8,085
--------
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITIES
LENDING -- 17.2%
44,373 Navigator Prime Portfolio......................... $ 44,373
--------
Total short-term investments
(cost $52,458).................................. $ 52,458
--------
Total investments in securities
(cost $288,358) O............................... $301,866
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 96.7% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value by,
or under the direction of, the Funds' Board of Directors at October 31,
2005, was $208,166, which represents 80.73% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $289,666 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $16,973
Unrealized depreciation......................... (4,773)
-------
Net unrealized appreciation..................... $12,200
=======
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $1,708, which represents 0.66% of
total net assets.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.2%
- -------------------------------------------------------------------
Capital Goods 2.7
- -------------------------------------------------------------------
Consumer Cyclical 8.0
- -------------------------------------------------------------------
Consumer Staples 9.6
- -------------------------------------------------------------------
Energy 4.8
- -------------------------------------------------------------------
Finance 16.7
- -------------------------------------------------------------------
Health Care 8.9
- -------------------------------------------------------------------
Services 10.6
- -------------------------------------------------------------------
Short-Term Investments 20.3
- -------------------------------------------------------------------
Technology 21.3
- -------------------------------------------------------------------
Transportation 3.9
- -------------------------------------------------------------------
Other Assets & Liabilities -17.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Canadian Dollar Sell $ 897 $ 903 11/01/2005 $ 6
Euro Sell 783 793 11/01/2005 10
Euro Buy 961 967 11/02/2005 (6)
Euro Buy 220 220 11/03/2005 @@
British Pound Buy 1,076 1,085 11/01/2005 (9)
British Pound Buy 137 137 11/02/2005 @@
Hong Kong Dollars Sell 96 96 11/01/2005 @@
Hong Kong Dollars Sell 109 109 11/02/2005 @@
Japanese Yen Buy 90 91 11/01/2005 (1)
---
$@@
===
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
155
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 91.8%
AUSTRALIA -- 2.0%
84 Publishing & Broadcasting Ltd. +H................. $ 1,017
233 Santos Ltd. + .................................... 1,912
--------
2,929
--------
AUSTRIA -- 0.8%
30 Wienerberger AG +H................................ 1,178
--------
BRAZIL -- 1.3%
48 Companhia Vale do Rio Doce ADR.................... 1,996
--------
CANADA -- 5.6%
46 Alcan, Inc. H..................................... 1,455
27 Cameco Corp. ..................................... 1,291
60 Canadian Pacific Railway Ltd. .................... 2,483
35 Petro-Canada...................................... 1,202
43 Talisman Energy, Inc. ............................ 1,900
--------
8,331
--------
DENMARK -- 1.0%
28 Carlsberg A/S Class B +H.......................... 1,510
--------
FRANCE -- 11.6%
22 Cie Generale d'Optique Essilor International S.A.
+H.............................................. 1,826
17 CNP Assurances +H................................. 1,159
56 Credit Agricole S.A. +H........................... 1,649
32 France Telecom S.A. + ............................ 831
25 LVMH Moet Hennessy Louis Vuitton S.A. +H.......... 2,015
35 PSA Peugeot Citroen +H............................ 2,107
33 Sanofi-Aventis S.A. +H............................ 2,622
12 Total S.A. +H..................................... 2,895
8 Unibail +H........................................ 1,015
36 Vivendi Universal S.A. +H......................... 1,146
--------
17,265
--------
GERMANY -- 3.3%
82 Bayerische Hypo Und Vereinsbank AG B.............. 2,283
28 E.On AG +......................................... 2,563
--------
4,846
--------
GREECE -- 0.6%
25 Opap S.A. + ...................................... 730
5 Opap S.A. +M...................................... 137
--------
867
--------
HONG KONG -- 1.7%
197 Esprit Holdings Ltd. + ........................... 1,396
121 Sun Hung Kai Properties Ltd. + ................... 1,148
--------
2,544
--------
HUNGARY -- 0.2%
3 Mol Magyr Olaj-Es Gazipari +...................... 276
--------
INDIA -- 0.7%
19 Infosys Technologies Ltd. + ...................... 1,049
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
IRELAND -- 0.9%
72 Ryanair Holdings plc +B........................... $ 607
16 Ryanair Holdings plc ADR BH....................... 803
--------
1,410
--------
ITALY -- 1.5%
276 Banca Intesa S.p.A. +H............................ 1,290
103 Geox S.p.A. + .................................... 983
--------
2,273
--------
JAPAN -- 19.5%
31 Astellas Pharma, Inc. + .......................... 1,096
46 Canon, Inc. + .................................... 2,451
42 Daiichi Sankyo Co., Ltd. ......................... 767
@@ East Japan Railway Co. + ......................... 2,246
41 Eisai Co., Ltd. +H................................ 1,598
31 Electric Power Development Co., Ltd. + ........... 1,009
7 Electric Power Development Co., Ltd. +M........... 225
30 Japan Petroleum Exploration Co., Ltd. + .......... 1,459
@@ Japan Tobacco, Inc. + ............................ 1,944
6 Keyence Corp. +H.................................. 1,450
@@ Mitsubishi UFJ Financial Group, Inc. + ........... 3,142
1 Nippon Telegraph & Telephone Corp. + ............. 2,720
17 Promise Co., Ltd. + .............................. 1,071
44 Seven & I Holdings Co., Ltd. ..................... 1,430
72 Shionogi & Co., Ltd. +H........................... 875
21 Takeda Pharmaceutical Co., Ltd. + ................ 1,124
26 Takefuji Corp. + ................................. 1,828
26 Terumo Corp. +H................................... 792
38 Toyota Motor Corp. + ............................. 1,780
--------
29,007
--------
MEXICO -- 0.8%
17 Fomento Economico Mexicano S.A. de C.V. ADR....... 1,163
--------
NETHERLANDS -- 3.7%
91 Koninklijke (Royal) Philips Electronics N.V. + ... 2,368
219 Koninklijke Ahold N.V. B+......................... 1,531
51 Royal Dutch Shell plc Class A H................... 1,564
--------
5,463
--------
RUSSIA -- 1.9%
17 Mining and Metallurgical Co. Norilsk Nickel ADR... 1,261
44 Mobile Telesystems OJSC ADR....................... 1,631
--------
2,892
--------
SOUTH KOREA -- 1.7%
2 Samsung Electronics Co., Ltd. + .................. 951
31 SK Corp. + ....................................... 1,595
--------
2,546
--------
SPAIN -- 2.1%
181 Banco Bilbao Vizcaya Argentaria S.A. + ........... 3,196
--------
SWEDEN -- 0.9%
384 Telefonaktiebolaget LM Ericsson +H................ 1,258
--------
</Table>
The accompanying notes are an integral part of these financial statements.
156
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
SWITZERLAND -- 10.4%
44 Credit Suisse Group +............................. $ 1,944
21 Nestle S.A. + .................................... 6,308
17 Roche Holding AG +................................ 2,503
39 UBS AG +H......................................... 3,302
8 Zurich Financial Services AG +.................... 1,435
--------
15,492
--------
TAIWAN -- 3.5%
167 AU Optronics Corp. ADR............................ 2,124
1,102 Chi Mei Optoelectronics Corp. + .................. 1,116
113 Chunghwa Telecom Co., Ltd. ADR.................... 1,964
--------
5,204
--------
UNITED KINGDOM -- 14.7%
67 AstraZeneca plc + ................................ 3,010
165 Aviva plc + ...................................... 1,944
112 BHP Billiton plc + ............................... 1,651
292 EMI Group plc + .................................. 1,108
55 Imperial Tobacco Group plc + ..................... 1,574
92 Reckitt Benckiser plc + .......................... 2,768
45 Rio Tinto plc + .................................. 1,719
53 Royal Bank of Scotland Group plc + ............... 1,476
140 Smiths Group plc + ............................... 2,269
1,043 Vodafone Group plc + ............................. 2,739
158 WPP Group plc..................................... 1,553
--------
21,811
--------
UNITED STATES -- 1.4%
23 Schlumberger Ltd. ................................ 2,097
--------
Total common stock
(cost $125,368)................................. $136,603
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 24.3%
REPURCHASE AGREEMENTS -- 6.0%
$ 298 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 298
3,298 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 3,298
2,112 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 2,112
3,125 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 3,125
--------
8,833
--------
<Caption>
MARKET
SHARES VALUE(C)
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 18.3%
27,205 Navigator Prime Portfolio......................... $ 27,205
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
$ 175 U.S. Treasury Bonds,
5.25% -- 9.125%, 11/15/2016..................... $ 175
--------
Total short-term investments
(cost $36,213).................................. $ 36,213
--------
Total investments in securities
(cost $161,581) O............................... $172,816
========
</Table>
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 90.37% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $107,636, which represents 72.32% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $161,693 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $14,066
Unrealized depreciation......................... (2,943)
-------
Net unrealized appreciation..................... $11,123
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $362, which represents 0.24% of
total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
157
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
British Pound Buy $ 654 $ 654 11/03/2005 $@@
Euro Buy 258 260 11/02/2005 (2)
Euro Sell 1,772 1,773 11/02/2005 1
Euro Sell 274 274 11/03/2005 @@
Hong Kong Dollars Sell 61 61 11/01/2005 @@
Hong Kong Dollars Sell 68 68 11/02/2005 @@
Japanese Yen Sell 493 497 11/02/2005 4
Japanese Yen Sell 293 293 11/04/2005 @@
Swiss Francs Buy 137 137 11/03/2005 @@
---
$ 3
===
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ------------------------------------------------------------------
Basic Materials 7.5%
- ------------------------------------------------------------------
Capital Goods 1.7
- ------------------------------------------------------------------
Consumer Cyclical 7.0
- ------------------------------------------------------------------
Consumer Staples 11.7
- ------------------------------------------------------------------
Energy 8.7
- ------------------------------------------------------------------
Finance 18.8
- ------------------------------------------------------------------
Health Care 9.7
- ------------------------------------------------------------------
Services 3.8
- ------------------------------------------------------------------
Technology 16.7
- ------------------------------------------------------------------
Transportation 4.1
- ------------------------------------------------------------------
Utilities 2.1
- ------------------------------------------------------------------
Short-Term Investments 24.3
- ------------------------------------------------------------------
Other Assets & Liabilities -16.1
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
158
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.0%
AUSTRALIA -- 4.9%
698 Adsteam Marine Ltd. + ............................ $ 884
240 AWB Ltd. +H....................................... 969
234 Harvey Norman Holdings Ltd. +H.................... 500
78 Leighton Holdings Ltd. +H......................... 887
344 Mirvac Group + ................................... 984
181 Multiplex Group + ................................ 449
485 PaperlinX Ltd. +H................................. 1,120
--------
5,793
--------
BRAZIL -- 1.0%
80 Brasil Telecom S.A. ADR........................... 1,132
--------
CHINA -- 1.7%
1,551 Beijing Capital International Airport Co., Ltd.
+ .............................................. 628
2,509 China Oilfield Services Ltd. +H................... 927
820 Yanzhou Coal Mining Co., Ltd. +H.................. 526
--------
2,081
--------
DENMARK -- 1.8%
17 Carlsberg A/S Class B +H.......................... 921
21 Trygvesta A.S. BM................................. 881
16 Vestas Wind Systems A/S +BH....................... 337
--------
2,139
--------
FINLAND -- 0.9%
228 M-real Oyj + ..................................... 1,084
--------
FRANCE -- 8.1%
24 Alstom RGPT B..................................... 1,148
4 Bacou-Dalloz + ................................... 359
27 bioMerieux S.A. + ................................ 1,337
10 Cegedim S.A. + ................................... 852
36 Dassault Systemes S.A. +H......................... 1,862
61 M6-Metropole Television +H........................ 1,561
572 Rhodia S.A. +H.................................... 1,166
37 Sodexho Alliance S.A. +H.......................... 1,437
--------
9,722
--------
GERMANY -- 5.9%
15 Altana AG +B...................................... 829
41 ELMOS Semiconductor AG +H......................... 473
123 GEA Group AG +H................................... 1,399
43 KarstadtQuelle AG +H.............................. 506
69 Kontron AG +BH.................................... 501
35 MLP AG +H......................................... 684
23 MTU Aero Engines Holdings AG +BM.................. 543
39 MTU Aero Engines Holdings AG +B................... 1,256
61 SGL Carbon AG +B.................................. 898
--------
7,089
--------
GREECE -- 1.0%
310 Aktor S.A. Technical Co. + ....................... 1,145
--------
HONG KONG -- 0.0%
2,016 Far East Pharmaceutical Technology Co., Ltd.
+BH............................................. @@
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
INDIA -- 0.7%
46 Dr. Reddy's Laboratories Ltd. ADR................. $ 856
--------
ITALY -- 4.3%
600 AEM S.p.A. +H..................................... 1,138
126 Brembo S.p.A. +H.................................. 872
30 Caltagirone Editore S.p.A. +H..................... 256
51 Permasteelisa S.p.A. + ........................... 775
607 Sorin S.p.A. +BH.................................. 1,445
11 Tod's S.p.A. + ................................... 651
--------
5,137
--------
JAPAN -- 28.0%
161 77 Bank Ltd. + ................................... 1,286
42 Coca-Cola West Japan Co., Ltd. +H................. 944
36 Disco Corp. + .................................... 1,510
23 Enplas Corp. +H................................... 547
43 FamilyMart Co., Ltd. + ........................... 1,270
231 Fuji Fire & Marine Insurance Co., Ltd. + ......... 916
9 Futaba Corp. + ................................... 216
187 Gunma Bank Ltd. + ................................ 1,329
14 Hakuhodo DY Holdings, Inc. +H..................... 948
25 Hamamatsu Photonics KK +H......................... 580
22 Hogy Medical Co., Ltd. +H......................... 1,223
45 Japan Petroleum Exploration Co., Ltd. +H.......... 2,235
2 Jupiter Telecommunications Co., Ltd. +B........... 1,282
68 Kobayashi Pharmaceutical Co., Ltd. + ............. 2,095
30 Milbon Co., Ltd. +H............................... 1,135
147 Minebea Co., Ltd. +H.............................. 576
222 Mochida Pharmaceutical Co., Ltd. + ............... 1,553
168 Morinaga & Co., Ltd. + ........................... 463
29 OBIC Business Consultants Ltd. + ................. 1,660
8 OBIC Co., Ltd. + ................................. 1,337
9 Ryohin Keikaku Co., Ltd. + ....................... 613
63 Shionogi & Co., Ltd. +H........................... 769
429 Sumitomo Osaka Cement Co., Ltd. + ................ 1,211
37 Taiyo Ink Manufacturing Co., Ltd. + .............. 1,553
22 Tokyo Ohka Kogyo Co., Ltd. + ..................... 524
102 Toppan Forms Co., Ltd. + ......................... 1,256
15 Uni-Charm Corp. +B................................ 655
67 Union Tool Co. +H................................. 2,443
109 Uny Co., Ltd. +H.................................. 1,361
--------
33,490
--------
LIECHTENSTEIN -- 0.6%
5 Verwalt & Privat-Bank AG + ....................... 734
--------
MALAYSIA -- 1.9%
479 Resorts World Berhad + ........................... 1,332
655 YTL Corp. Berhad + ............................... 945
--------
2,277
--------
NETHERLANDS -- 4.0%
403 Hagemeyer N.V. +BH................................ 1,093
94 Qiagen N.V. +BH................................... 1,116
33 Unit 4 Agresso N.V. +B............................ 528
113 Wolters Kluwer N.V. + ............................ 2,088
--------
4,825
--------
</Table>
The accompanying notes are an integral part of these financial statements.
159
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
SOUTH AFRICA -- 1.3%
64 Harmony Gold Mining Co., Ltd. +B.................. $ 670
8 Impala Platinum Holdings Ltd. + .................. 840
--------
1,510
--------
SOUTH KOREA -- 0.7%
39 KT Freetel Co., Ltd. + ........................... 839
--------
SWEDEN -- 2.1%
67 Munters AB + ..................................... 1,622
191 Teleca AB Class B +B.............................. 848
--------
2,470
--------
SWITZERLAND -- 3.7%
15 Bachem Holding AG Class B + ...................... 864
24 Baloise Holding AG + ............................. 1,219
22 Ciba Specialty Chemicals AG + .................... 1,240
12 Ems-Chemie Holding AG + .......................... 1,086
--------
4,409
--------
THAILAND -- 1.6%
3,855 Krung Thai Bank plc............................... 945
9,276 TMB Bank plc +B................................... 940
--------
1,885
--------
UNITED KINGDOM -- 21.8%
110 Amvescap plc + ................................... 693
198 Benfield Group plc + ............................. 1,122
88 Cambridge Antibody Technology Group plc +B........ 1,049
317 Cattles plc + .................................... 1,536
892 Dimension Data Holdings plc +B.................... 549
115 EMAP plc + ....................................... 1,672
250 EMI Group plc + .................................. 950
281 FirstGroup plc + ................................. 1,629
504 FKI plc + ........................................ 910
325 GCAP Media plc + ................................. 1,959
187 Hiscox plc + ..................................... 679
239 Jardine Lloyd Thompson Group plc + ............... 2,016
43 Lonmin plc + ..................................... 993
88 Luminar plc + .................................... 757
142 Misys plc + ...................................... 515
463 Northern Foods plc + ............................. 1,234
316 Rentokil Initial plc + ........................... 860
210 RHM plc B......................................... 963
1,033 Royal & Sun Alliance Insurance Group plc + ....... 1,758
240 SSL International plc + .......................... 1,118
93 SurfControl plc +B................................ 702
37 Ultra Electronics Holdings plc + ................. 578
16 Willis Group Holdings Ltd. ....................... 583
278 Yule Catto & Co. plc +............................ 1,232
--------
26,057
--------
Total common stock
(cost $112,202)................................. $114,674
--------
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 22.3%
REPURCHASE AGREEMENTS -- 2.0%
$ 80 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 80
885 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 885
567 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 567
838 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 838
--------
2,370
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITIES
LENDING -- 20.3%
24,212 Navigator Prime Portfolio......................... 24,212
--------
Total short-term investments
(cost $26,582).................................. $ 26,582
--------
Total investments in securities
(cost $138,784) O............................... $141,256
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 96.01% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $108,166, which represents 90.56% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $138,939 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 7,359
Unrealized depreciation......................... (5,042)
-------
Net unrealized appreciation..................... $ 2,317
=======
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $1,424, which represents 1.19% of total net
assets.
The accompanying notes are an integral part of these financial statements.
160
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------- -------- ---------- --------------
Australian Dollar Sell $ 4,405 $ 4,365 11/30/2005 $ (40)
Australian Dollar Sell 2,193 2,232 03/28/2006 39
British Pound Buy 3,116 3,120 11/30/2005 (4)
British Pound Buy 7,829 7,724 11/30/2005 105
British Pound Buy 1,044 1,045 03/31/2006 (1)
British Pound Buy 3,781 3,775 06/12/2006 6
British Pound Sell 10,944 11,711 11/30/2005 767
British Pound Sell 1,044 1,098 03/31/2006 54
British Pound Sell 3,781 3,892 06/12/2006 111
Euro Buy 2,716 2,711 11/30/2005 5
Euro Buy 9,107 9,245 11/30/2005 (138)
Euro Sell 11,823 13,181 11/30/2005 1,358
Japanese Yen Buy 72 73 11/01/2005 (1)
Japanese Yen Buy 200 201 11/02/2005 (1)
Japanese Yen Buy 105 105 11/04/2005 @@
New Zealand Dollar Sell 4,096 4,146 10/31/2006 50
South African Rand Sell 988 1,067 03/17/2006 79
------
$2,389
======
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
DIVERSIFICATION BY INDUSTRY
as of October 31, 2005
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ------------------------------------------------------------------
Basic Materials 13.4%
- ------------------------------------------------------------------
Capital Goods 8.2
- ------------------------------------------------------------------
Consumer Cyclical 10.0
- ------------------------------------------------------------------
Consumer Staples 5.5
- ------------------------------------------------------------------
Energy 2.7
- ------------------------------------------------------------------
Finance 16.9
- ------------------------------------------------------------------
Health Care 11.8
- ------------------------------------------------------------------
Services 14.5
- ------------------------------------------------------------------
Technology 9.4
- ------------------------------------------------------------------
Transportation 2.6
- ------------------------------------------------------------------
Utilities 1.0
- ------------------------------------------------------------------
Short-Term Investments 22.3
- ------------------------------------------------------------------
Other Assets & Liabilities -18.3
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
161
THE HARTFORD MIDCAP FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 96.9%
BASIC MATERIALS -- 3.8%
250 Alliant Techsystems, Inc. BH...................... $ 17,555
781 Cameco Corp. ..................................... 37,322
617 Precision Castparts Corp. ........................ 29,197
513 Rohm & Haas Co. .................................. 22,351
----------
106,425
----------
CONSUMER CYCLICAL -- 17.5%
457 Abercrombie & Fitch Co. Class A................... 23,749
450 Aeropostale, Inc. BH.............................. 8,793
578 Barnes & Noble, Inc. ............................. 20,908
419 BorgWarner, Inc. ................................. 24,321
374 CDW Corp. ........................................ 21,081
179 Centex Corp. ..................................... 11,532
735 Chico's FAS, Inc. B............................... 29,042
644 Coach, Inc. B..................................... 20,737
886 D.R. Horton, Inc. ................................ 27,183
538 Fastenal Co. ..................................... 37,709
1,725 Geox S.p.A. +..................................... 16,435
243 Gildan Activewear, Inc. BH........................ 8,477
225 Lennar Corp. Class A.............................. 12,506
809 Michaels Stores, Inc. ............................ 26,762
373 Mohawk Industries, Inc. BH........................ 29,136
791 Office Depot, Inc. B.............................. 21,765
710 Oshkosh Truck Corp. .............................. 30,923
424 PACCAR, Inc. ..................................... 29,695
744 Pacific Sunwear of California, Inc. BH............ 18,602
2,632 Rinker Group Ltd. +............................... 29,856
417 Scotts Miracle-Gro Co. Class A H.................. 36,634
----------
485,846
----------
ENERGY -- 8.3%
1,326 Chesapeake Energy Corp. .......................... 42,561
345 CNX Gas Corp. +BV................................. 6,447
644 EOG Resources, Inc. .............................. 43,642
789 GlobalSantaFe Corp. .............................. 35,137
467 Nabors Industries Ltd. BH......................... 32,039
537 Noble Corp. H..................................... 34,598
76 Southwestern Energy Co. B......................... 5,499
422 Sunoco, Inc. ..................................... 31,423
----------
231,346
----------
FINANCE -- 17.8%
321 AMBAC Financial Group, Inc. ...................... 22,720
804 Ameritrade Holding Corp. BH....................... 16,902
627 Assurant, Inc. ................................... 23,944
296 Blackrock, Inc. Class A........................... 28,070
236 Brown & Brown, Inc. .............................. 12,833
482 City National Corp. .............................. 35,369
1,020 E*Trade Financial Corp. B......................... 18,923
957 Eaton Vance Corp. ................................ 23,825
880 Equifax, Inc. .................................... 30,344
206 Everest Re Group Ltd. ............................ 20,487
529 General Growth Properties, Inc. .................. 22,468
310 Golden West Financial Corp. ...................... 18,177
1,992 Host Marriott Corp. .............................. 33,449
395 Legg Mason, Inc. ................................. 42,373
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
381 PacifiCare Health Systems, Inc. B................. $ 31,338
644 State Street Corp. ............................... 35,563
357 UnionBanCal Corp. ................................ 24,414
488 Webster Financial Corp. .......................... 22,526
50 White Mountains Insurance Group Ltd. ............. 30,486
----------
494,211
----------
HEALTH CARE -- 11.5%
337 Amylin Pharmaceuticals, Inc. BH................... 11,337
1,250 Applera Corp. -- Applied Biosystems Group......... 30,347
600 Biomet, Inc. ..................................... 20,898
353 Cephalon, Inc. BH................................. 16,081
38 Cooper Cos., Inc. ................................ 2,623
754 Coventry Health Care, Inc. BH..................... 40,687
341 Edwards Lifesciences Corp. BH..................... 14,098
397 Eisai Co., Ltd. +................................. 15,556
590 Health Net, Inc. BH............................... 27,612
382 ICOS Corp. BH..................................... 10,312
761 IVAX Corp. BH..................................... 21,721
849 Manor Care, Inc. ................................. 31,614
348 McKesson Corp. ................................... 15,817
2,467 Millennium Pharmaceuticals, Inc. BH............... 22,500
674 Mylan Laboratories, Inc. ......................... 12,938
549 Quest Diagnostics, Inc. .......................... 25,624
----------
319,765
----------
SERVICES -- 16.2%
725 Alliance Data Systems Corp. BH.................... 25,788
1,998 BISYS Group, Inc. BH.............................. 25,339
957 C.H. Robinson Worldwide, Inc. .................... 33,737
379 Cablevision Systems Corp. B....................... 9,402
560 CheckFree Corp. B................................. 23,804
481 Cognizant Technology Solutions Corp. BH........... 21,168
955 Education Management Corp. BH..................... 29,437
519 Fiserv, Inc. BH................................... 22,648
479 Harrah's Entertainment, Inc. ..................... 28,976
608 Lamar Advertising Co. BH.......................... 27,129
957 Monster Worldwide, Inc. BH........................ 31,386
1,181 Pixar Animation Studios BH........................ 59,902
962 Robert Half International, Inc. .................. 35,464
678 Scripps (E.W.) Co. Class A........................ 31,047
401 Starwood Hotels & Resorts Worldwide, Inc. ........ 23,442
867 Univision Communications, Inc. Class A BH......... 22,655
----------
451,324
----------
TECHNOLOGY -- 17.4%
1,041 Amdocs Ltd. BH.................................... 27,561
1,656 American Tower Corp. Class A BH................... 39,494
435 Certegy, Inc. .................................... 16,295
2,571 Citizens Communications Co. ...................... 31,474
759 Cognos, Inc. BH................................... 28,467
750 DaVita, Inc. BH................................... 36,890
975 EchoStar Communications Corp. Class A............. 26,185
326 Electronic Arts, Inc. B........................... 18,566
516 Intuit, Inc. BH................................... 23,704
1,891 Jabil Circuit, Inc. B............................. 56,446
289 Linear Technology Corp. .......................... 9,604
</Table>
The accompanying notes are an integral part of these financial statements.
162
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
782 Network Appliance, Inc. BH........................ $ 21,401
758 NVIDIA Corp. BH................................... 25,444
1,278 Red Hat, Inc. BH.................................. 29,675
503 Rockwell Collins, Inc. ........................... 23,061
284 Roper Industries, Inc. ........................... 10,695
655 SanDisk Corp. BH.................................. 38,585
466 Zebra Technologies Corp. Class A BH............... 20,081
----------
483,628
----------
TRANSPORTATION -- 0.8%
368 Expeditors International of Washington, Inc. ..... 22,345
----------
UTILITIES 3.6%
803 Cinergy Corp. .................................... 32,048
679 Energy East Corp. ................................ 16,199
2,803 Santos Ltd. +..................................... 22,998
734 Wisconsin Energy Corp. ........................... 27,759
----------
99,004
----------
Total common stock
(cost $2,243,410)............................... $2,693,894
----------
PREFERRED STOCKS -- 0.5%
UTILITIES -- 0.5%
328 NRG Energy, Inc. BH............................... 14,124
----------
Total preferred stocks
(cost $14,770).................................. $ 14,124
----------
Total long-term investments
(cost $2,258,180)............................... $2,708,018
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 12.8%
REPURCHASE AGREEMENTS -- 2.8%
$ 2,605 Bank of America Joint Repurchase Agreement, 3.92%,
11/01/2005...................................... $ 2,605
28,853 Bank of America TriParty Joint Repurchase
Agreement, 4.03%, 11/01/2005.................... 28,853
18,476 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement, 4.03%, 11/01/2005.................... 18,476
27,335 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 27,335
----------
77,269
----------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 10.0%
279,887 Navigator Prime Portfolio......................... $ 279,887
----------
Total short-term investments
(cost $357,156)................................. $ 357,156
----------
Total investments in securities
(cost $2,615,336) O............................. $3,065,174
==========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 5.72% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $91,292, which represents 3.28% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $2,618,127 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $500,667
Unrealized depreciation........................ (53,620)
--------
Net unrealized appreciation.................... $447,047
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
V The following securities are considered illiquid. Illiquid securities
are often purchased in private placement transactions, are not registered
under the Securities Act of 1933 and may have contractual restrictions on
resale. A security may also be considered illiquid if it lacks a readily
available market or if its valuation has not changed for a certain period
of time.
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
8/2005-
9/2005 345 CNX Gas Corp. -- 144A $5,543
</Table>
The aggregate value of these securities at October 31, 2005 was
$6,447, which represents 0.23% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
163
THE HARTFORD MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 99.3%
BASIC MATERIALS -- 13.5%
100 Albemarle Corp. .................................. $ 3,520
103 Arch Coal, Inc. .................................. 7,907
51 Carlisle Cos., Inc. .............................. 3,395
119 Cytec Industries, Inc. ........................... 4,911
144 Engelhard Corp. .................................. 3,920
343 Grupo Imsa, S.A. de C.V. ......................... 843
245 Huntsman Corp. B.................................. 4,869
142 Inco Ltd. ........................................ 5,699
132 Michelin (C.G.D.E.) Class B +..................... 7,111
404 Pactiv Corp. B.................................... 7,961
298 Sappi Ltd. ADR.................................... 2,918
341 Smurfit-Stone Container Corp. B................... 3,603
79 Temple-Inland, Inc. .............................. 2,902
--------
59,559
--------
CAPITAL GOODS -- 5.3%
16 ACCO Brands Corp. B............................... 377
235 Goodrich Corp. ................................... 8,487
35 Pall Corp. ....................................... 913
102 Parker-Hannifin Corp. ............................ 6,362
256 Teradyne, Inc. B.................................. 3,464
66 Terex Corp. B..................................... 3,633
--------
23,236
--------
CONSUMER CYCLICAL -- 14.0%
192 American Axle & Manufacturing Holdings, Inc. H.... 4,183
317 Arris Group, Inc. B............................... 2,619
78 BorgWarner, Inc. ................................. 4,517
186 CBRL Group, Inc. ................................. 6,458
390 Foot Locker, Inc. ................................ 7,574
169 Hughes Supply, Inc. .............................. 5,643
158 Newell Rubbermaid, Inc. .......................... 3,628
273 Office Depot, Inc. B.............................. 7,513
227 Rinker Group Ltd. +............................... 2,573
224 Ruby Tuesday, Inc. H.............................. 4,901
104 TRW Automotive Holdings Corp. B................... 2,802
17 TRW Automotive, Inc. B##.......................... 452
119 United Stationers, Inc. B......................... 5,385
67 V.F. Corp. ....................................... 3,502
--------
61,750
--------
CONSUMER STAPLES -- 3.6%
99 Bunge Ltd. ....................................... 5,152
52 Ralcorp Holdings, Inc. B.......................... 2,015
167 Smithfield Foods, Inc. B.......................... 4,934
205 Tyson Foods, Inc. Class A......................... 3,642
--------
15,743
--------
ENERGY -- 3.1%
130 Newfield Exploration Co. B........................ 5,879
134 Noble Energy, Inc. ............................... 5,375
101 UGI Corp. ........................................ 2,379
--------
13,633
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- 21.1%
65 Affiliated Managers Group, Inc. BH................ $ 4,989
153 AMBAC Financial Group, Inc. ...................... 10,811
403 Apollo Investment Corp. .......................... 7,521
108 CB Richard Ellis Group, Inc. Class A B............ 5,266
238 CIT Group, Inc. .................................. 10,861
38 City National Corp. .............................. 2,759
61 Everest Re Group Ltd. ............................ 6,096
72 IndyMac Bancorp, Inc. ............................ 2,677
171 KKR Financial Corp. .............................. 3,814
98 Platinum Underwriters Holdings Ltd. .............. 2,798
122 Radian Group, Inc. ............................... 6,377
175 Reinsurance Group of America...................... 8,014
85 RenaissanceRe Holdings Ltd. ADR................... 3,225
104 UnionBanCal Corp. ................................ 7,122
258 UnumProvident Corp. H............................. 5,232
123 Webster Financial Corp. .......................... 5,655
--------
93,217
--------
HEALTH CARE -- 7.5%
172 Barr Pharmaceuticals, Inc. B...................... 9,876
81 Coventry Health Care, Inc. B...................... 4,389
397 Endo Pharmaceuticals Holdings, Inc. B............. 10,687
380 Impax Laboratories, Inc. BH....................... 4,009
189 Theravance, Inc. B................................ 4,103
--------
33,064
--------
SERVICES -- 5.7%
396 BearingPoint, Inc. B.............................. 2,781
294 Dex Media, Inc. .................................. 7,926
195 Donnelley (R.R.) & Sons Co. ...................... 6,815
71 Liberty Global, Inc. Class C B.................... 1,678
49 R.H. Donnelley Corp. B............................ 3,037
272 Unisys Corp. B.................................... 1,388
42 URS Corp. B....................................... 1,682
--------
25,307
--------
TECHNOLOGY -- 18.4%
165 Acuity Brands, Inc. .............................. 4,594
325 Arrow Electronics, Inc. B......................... 9,603
31 Bio-Rad Laboratories, Inc. Class A B.............. 1,802
515 Cinram International, Inc. ....................... 10,435
136 Citizens Communications Co. ...................... 1,663
641 Fairchild Semiconductor International, Inc. B..... 9,865
237 Flextronics International Ltd. B.................. 2,201
147 Fossil, Inc. B.................................... 2,297
690 GrafTech International Ltd. B..................... 3,379
228 Lam Research Corp. B.............................. 7,696
64 QLogic Corp. B.................................... 1,927
298 Seagate Technology................................ 4,317
200 Tektronix, Inc. .................................. 4,605
169 Varian Semiconductor Equipment Associates, Inc.
B............................................... 6,399
449 Vishay Intertechnology, Inc. B.................... 5,089
69 Whirlpool Corp. .................................. 5,393
--------
81,265
--------
</Table>
The accompanying notes are an integral part of these financial statements.
164
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- 2.9%
65 Continental Airlines, Inc. B...................... $ 846
177 Trinity Industries, Inc. ......................... 6,746
118 Yellow Roadway Corp. B............................ 5,372
--------
12,964
--------
UTILITIES -- 4.2%
353 PPL Corp. ........................................ 11,057
26 SBM Offshore N.V. +............................... 2,040
139 Wisconsin Energy Corp. ........................... 5,269
--------
18,366
--------
Total common stock
(cost $396,324)................................. $438,104
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 3.1%
REPURCHASE AGREEMENTS -- 0.6%
$ 92 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 92
1,018 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,018
652 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 652
965 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 965
--------
2,727
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 2.5%
10,823 BNY Institutional Cash Reserve Fund............... $ 10,823
--------
Total short-term investments
(cost $13,550).................................. $ 13,550
--------
Total investments in securities
(cost $409,874) O............................... $451,654
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 7.17% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $11,724, which represents 2.66% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $410,186 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 68,513
Unrealized depreciation........................ (27,045)
--------
Net unrealized appreciation.................... $ 41,468
========
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
## Securities exempt from registration under Regulation D of the
Securities Act of 1933. These securities are determined to be liquid. At
October 31, 2005, the market value of these securities was $452, which
represents 0.10% of total net assets.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Sell $432 $438 11/01/2005 $6
==
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
165
THE HARTFORD MONEY MARKET FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MATURITY MARKET
AMOUNT YIELD DATE VALUE U
- --------- ----- ---------- --------
CONSUMER STAPLES -- 2.8%
$7,000 Cargill, Inc. .................................... 3.92% 12/02/2005 $ 6,976
--------
FINANCE -- 95.3%
3,500 Alliance & Leicester plc.......................... 4.09% 01/09/2006 3,473
3,500 Alliance & Leicester plc.......................... 4.17% 02/06/2006 3,461
3,500 American Express Credit Corp. .................... 3.71% 11/08/2005 3,497
3,500 American Express Credit Corp. G................... 4.14% 05/16/2006 3,504
3,500 American General Finance.......................... 4.17% 01/25/2006 3,466
7,000 American Honda Finance Corp. MG................... 3.96% 08/15/2006 7,011
3,500 Amsterdam Funding Corp. .......................... 3.89% 11/22/2005 3,492
3,500 Amsterdam Funding Corp. .......................... 3.93% 11/29/2005 3,489
3,500 Bank of America Corp. ............................ 3.78% 12/12/2005 3,484
3,500 Bank of America Corp. ............................ 3.96% 11/01/2005 3,500
3,500 Bank One Corp. G.................................. 3.90% 08/11/2006 3,506
3,500 Bank One Corp. G.................................. 4.04% 02/27/2006 3,503
3,500 Barton Capital Corp. ............................. 3.93% 12/01/2005 3,489
3,500 Barton Capital Corp. ............................. 4.10% 01/10/2006 3,472
3,200 Bear Stearns Co., Inc. ........................... 4.13% 01/17/2006 3,172
3,900 Bear Stearns Co., Inc. G.......................... 4.14% 06/19/2006 3,907
3,500 Britannia Building Society........................ 3.75% 11/14/2005 3,495
2,640 Britannia Building Society........................ 3.93% 12/16/2005 2,627
7,000 Cafco LLC......................................... 3.77% 11/03/2005 6,999
1,300 Caterpillar Financial Services Corp. G............ 4.13% 04/07/2006 1,300
3,500 Citigroup Funding, Inc. .......................... 3.65% 11/01/2005 3,500
3,500 Citigroup, Inc. G................................. 3.94% 05/19/2006 3,503
8,092 Countrywide Financial Corp. ...................... 4.08% 11/01/2005 8,092
7,000 Federal Home Loan Mortgage Corp. G................ 3.70% 11/07/2005 7,000
3,500 General Electric Capital Corp. ................... 3.94% 12/06/2005 3,487
7,000 Goldman Sachs Group, Inc. G....................... 3.80% 08/01/2006 7,004
3,500 Greenwich Capital Holdings, Inc. G................ 4.05% 02/01/2006 3,500
3,500 HBOS Treasury Services plc........................ 3.91% 12/01/2005 3,489
3,500 HBOS Treasury Services plc........................ 3.97% 12/14/2005 3,483
3,200 Household Financial Corp. ........................ 6.47% 01/24/2006 3,216
3,500 HSBC Finance Corp. ............................... 4.11% 01/13/2006 3,471
7,000 Lehman Brothers Holdings, Inc. G.................. 4.11% 06/02/2006 7,004
7,000 Merrill Lynch & Co. G............................. 4.22% 10/19/2006 7,006
3,500 Morgan Stanley Dean Witter, Inc. ................. 3.82% 11/28/2005 3,490
3,500 Morgan Stanley Dean Witter, Inc. ................. 3.90% 11/22/2005 3,492
3,500 Nationwide Building Society M..................... 3.90% 12/07/2005 3,486
</Table>
<Table>
<Caption>
PRINCIPAL MATURITY MARKET
AMOUNT YIELD DATE VALUE U
- --------- ----- ---------- --------
FINANCE -- (CONTINUED)
$3,500 Nationwide Building Society M..................... 4.16% 01/20/2006 $ 3,468
2,700 Nordea North America.............................. 3.85% 11/21/2005 2,694
3,500 Nordea North America.............................. 4.09% 01/12/2006 3,472
6,500 Northern Rock plc................................. 3.66% 11/02/2005 6,499
4,000 Old Line Funding LLC.............................. 3.77% 11/21/2005 3,992
3,000 Old Line Funding LLC.............................. 3.78% 11/21/2005 2,994
3,500 Preferred Receivable Funding Corp. ............... 3.81% 11/03/2005 3,499
3,500 Sheffield Receivables............................. 3.83% 11/07/2005 3,498
3,500 Sheffield Receivables............................. 3.96% 11/21/2005 3,492
3,200 SLM Corp. G....................................... 4.37% 04/25/2006 3,203
7,000 Spintab AB........................................ 4.13% 01/20/2006 6,936
3,500 Svenska Handelsbanken AB.......................... 3.94% 12/07/2005 3,486
3,500 Toyota Motor Credit Corp. ........................ 3.78% 11/07/2005 3,498
3,500 Toyota Motor Credit Corp. ........................ 4.17% 01/25/2006 3,466
4,000 Triple A-1 Funding................................ 3.82% 11/04/2005 3,999
2,729 Triple A-1 Funding................................ 4.00% 11/22/2005 2,723
3,500 Washington Mutual Bank FA G....................... 3.94% 07/26/2006 3,500
3,500 Washington Mutual Bank FA......................... 4.00% 12/13/2005 3,500
7,000 Wells Fargo & Co. G............................... 3.86% 03/03/2006 7,003
3,500 Westpac Banking Corp. ............................ 4.20% 01/31/2006 3,463
3,500 Westpac Capital Corp. ............................ 3.80% 12/12/2005 3,485
7,000 Yorktown Capital.................................. 3.97% 11/15/2005 6,989
--------
Total finance..................................... 236,929
--------
TECHNOLOGY -- 1.4%
3,500 Oracle Corp. M.................................... 4.04% 11/30/2005 3,489
--------
Total investments in securities
(cost $247,394) O............................... $247,394
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O Also represents cost for federal tax purposes.
M 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 qualified
institutional buyers. Pursuant to guidelines adopted by the Board of
Directors, these issues are determined to be liquid. The aggregate value of
these securities at October 31, 2005, was $17,454, which represents 7.04%
of total net assets.
G Variable rate securities; the yield reported is the rate in effect at
October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
166
THE HARTFORD RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ -------
AFFILIATED INVESTMENT COMPANIES -- 44.2%
EQUITY FUNDS -- 13.0%
@@ Hartford Capital Appreciation Fund, Class Y B..... $ 1
@@ Hartford Disciplined Equity Fund, Class Y......... 3
@@ Hartford Growth Fund, Class Y B................... @@
@@ Hartford International Capital Appreciation Fund,
Class Y B....................................... 1
@@ Hartford International Opportunities Fund, Class Y
B............................................... 1
@@ Hartford MidCap Value Fund, Class Y............... 1
@@ Hartford Select Midcap Growth Fund, Class Y B..... 1
@@ Hartford Value Fund, Class Y...................... @@
@@ Hartford Value Opportunities Fund, Class Y B...... 2
---
Total equity funds
(cost $10)...................................... $10
---
FIXED INCOME FUNDS -- 29.9%
@@ Hartford Floating Rate Fund, Class Y.............. $ 3
@@ Hartford High Yield Fund, Class Y................. 2
@@ Hartford Inflation Plus Fund, Class Y............. 5
1 Hartford Short Duration Fund, Class Y............. 6
1 Hartford Total Return Bond Fund, Class Y.......... 7
---
Total fixed income funds
(cost $23)...................................... $23
---
MONEY MARKET FUND -- 1.3%
1 Hartford Money Market Fund, Class Y............... $ 1
---
Total money market fund
(cost $1)....................................... $ 1
---
Total investments in affiliated
investment companies
(cost $34) O.................................... $34
===
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $35 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $ --
Unrealized depreciation............................ (1)
----
Net unrealized depreciation........................ $(1)
====
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
167
THE HARTFORD SELECT MIDCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 96.5%
BASIC MATERIALS -- 3.6%
2 Airgas, Inc. ..................................... $ 60
1 Alliant Techsystems, Inc. B....................... 105
2 Alpha Natural Resources, Inc. B................... 50
3 Cameco Corp. ..................................... 163
1 Harsco Corp. ..................................... 71
3 Jarden Corp. B.................................... 107
1 MSC Industrial Direct Co., Inc. .................. 56
2 Precision Castparts Corp. ........................ 92
-------
704
-------
CAPITAL GOODS -- 5.1%
3 American Standard Cos., Inc. ..................... 100
3 Cooper Cameron Corp. B............................ 193
3 Donaldson Co., Inc. .............................. 93
3 Graco, Inc. ...................................... 113
2 Grant Prideco, Inc. B............................. 69
1 National Oilwell Varco, Inc. B.................... 77
4 Rockwell Automation, Inc. ........................ 235
4 Tessera Technologies, Inc. B...................... 103
-------
983
-------
CONSUMER CYCLICAL -- 11.2%
1 Abercrombie & Fitch Co. Class A................... 42
5 Bed Bath & Beyond, Inc. B......................... 209
3 CDW Corp. ........................................ 189
3 Chico's FAS, Inc. B............................... 109
2 Coach, Inc. B..................................... 59
1 Coldwater Creek, Inc. B........................... 30
3 D.R. Horton, Inc. ................................ 81
1 Fastenal Co. ..................................... 72
4 Fortune Brands, Inc. ............................. 301
2 Grainger (W.W.), Inc. ............................ 144
3 Liz Claiborne, Inc. .............................. 95
2 Men's Wearhouse, Inc. B........................... 53
3 Outback Steakhouse, Inc. ......................... 129
2 P. F. Chang's China Bistro, Inc. B................ 87
6 PETCO Animal Supplies, Inc. B..................... 108
2 Polo Ralph Lauren Corp. .......................... 112
2 Select Comfort Corp. B............................ 40
3 Tiffany & Co. .................................... 104
2 Urban Outfitters, Inc. B.......................... 70
3 Williams-Sonoma, Inc. B........................... 121
-------
2,155
-------
CONSUMER STAPLES -- 1.3%
3 Alberto-Culver Co. ............................... 120
3 Estee Lauder Cos., Inc. Class A................... 90
1 McCormick & Co., Inc. ............................ 45
-------
255
-------
ENERGY -- 4.2%
2 BJ Services Co. .................................. 72
2 ENSCO International, Inc. ........................ 88
7 Grey Wolf, Inc. B................................. 55
2 Range Resources Corp. ............................ 74
4 Smith International, Inc. ........................ 133
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
ENERGY -- (CONTINUED)
3 Weatherford International Ltd. B.................. $ 182
5 XTO Energy, Inc. ................................. 201
-------
805
-------
FINANCE -- 5.5%
2 Affiliated Managers Group, Inc. B................. 118
1 Arch Capital Group Ltd. B......................... 60
4 Commerce Bancorp, Inc. ........................... 118
3 Comverse Technology, Inc. B....................... 82
2 Fidelity National Financial, Inc. ................ 62
5 Global Cash Access, Inc. B........................ 74
8 Host Marriott Corp. .............................. 132
1 Legg Mason, Inc. ................................. 59
1 Medco Health Solutions, Inc. B.................... 63
2 PartnerRe Ltd. ................................... 101
3 Sovereign Bancorp, Inc. .......................... 72
3 Willis Group Holdings Ltd. ....................... 121
-------
1,062
-------
HEALTH CARE -- 15.0%
1 Advanced Medical Optics, Inc. B................... 38
1 Allergan, Inc. ................................... 125
2 Bard (C.R.), Inc. ................................ 125
2 Barr Pharmaceuticals, Inc. B...................... 139
7 Biomet, Inc. ..................................... 232
4 Caremark Rx, Inc. B............................... 209
3 Celgene Corp. B................................... 164
3 Charles River Laboratories International, Inc. B.. 128
3 Community Health Systems, Inc. B.................. 93
@@ Cooper Companies, Inc. ........................... 28
3 Covance, Inc. B................................... 161
2 Coventry Health Care, Inc. B...................... 98
3 Forest Laboratories, Inc. B....................... 98
2 Gen-Probe, Inc. B................................. 75
3 Health Management Associates, Inc. Class A........ 61
2 Henry Schein, Inc. B.............................. 92
7 Kinetic Concepts, Inc. B.......................... 245
3 Laboratory Corp. of America Holdings B............ 147
3 MedImmune, Inc. B................................. 99
4 Omnicare, Inc. ................................... 191
2 OSI Pharmaceuticals, Inc. B....................... 56
3 Schick Technologies, Inc. B....................... 79
5 Valeant Pharmaceuticals International............. 85
3 Varian Medical Systems, Inc. B.................... 122
-------
2,890
-------
SERVICES -- 20.5%
6 Alliance Data Systems Corp. B..................... 199
15 Allied Waste Industries, Inc. B................... 122
4 Aramark Corp. Class B............................. 111
2 Autodesk, Inc. ................................... 84
1 Business Objects S.A. ADR B....................... 46
3 Cadence Design Systems, Inc. B.................... 49
2 CheckFree Corp. B................................. 73
3 Cintas Corp. ..................................... 109
4 Cogent, Inc. B.................................... 112
3 Cognizant Technology Solutions Corp. B............ 145
</Table>
The accompanying notes are an integral part of these financial statements.
168
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
SERVICES -- (CONTINUED)
1 Corporate Executive Board Co. .................... $ 95
1 DST Systems, Inc. B............................... 60
2 Dun & Bradstreet Corp. B.......................... 103
12 Entravision Communications Corp. Class A B........ 94
2 Expedia, Inc. B................................... 45
4 Fiserv, Inc. B.................................... 187
2 Gaylord Entertainment Co. B....................... 75
1 Getty Images, Inc. B.............................. 93
7 H & R Block, Inc. ................................ 178
3 Harrah's Entertainment, Inc. ..................... 180
4 Hilton Hotels Corp. .............................. 83
3 Iron Mountain, Inc. B............................. 99
14 La Quinta Corp. B................................. 121
7 Lamar Advertising Co. B........................... 292
4 Liberty Global, Inc. Class A B.................... 99
1 Marriott International, Inc. Class A.............. 54
4 MoneyGram International, Inc. .................... 97
1 Moody's Corp. .................................... 56
4 Paychex, Inc. .................................... 166
2 Robert Half International, Inc. .................. 90
2 Scripps (E.W.) Co. Class A........................ 114
1 Station Casinos, Inc. ............................ 67
9 Univision Communications, Inc. Class A B.......... 240
1 VCA Antech, Inc. B................................ 30
7 XM Satellite Radio Holdings, Inc. Class A B....... 200
-------
3,968
-------
TECHNOLOGY -- 26.6%
4 Activision, Inc. B................................ 68
6 Akamai Technologies, Inc. B....................... 108
4 American Tower Corp. Class A B.................... 107
5 Amphenol Corp. Class A............................ 205
4 Analog Devices, Inc. ............................. 137
6 ATI Technologies, Inc. ADR B...................... 80
3 Avocent Corp. B................................... 102
3 Broadcom Corp. Class A B.......................... 120
2 Ceridian Corp. B.................................. 45
2 ChoicePoint, Inc. B............................... 84
3 Citrix Systems, Inc. B............................ 72
7 CNET Networks, Inc. B............................. 95
3 Cognos, Inc. B.................................... 120
5 Crown Castle International Corp. B................ 112
3 Dolby Laboratories, Inc. Class A B................ 48
1 F5 Networks, Inc. B............................... 53
2 Fisher Scientific International, Inc. B........... 121
6 FLIR Systems, Inc. B.............................. 124
2 Global Payments, Inc. ............................ 97
2 Harman International Industries, Inc. ............ 248
1 Hyperion Solutions Corp. B........................ 59
2 IAC/Interactive Corp. B........................... 63
5 International Rectifier Corp. B................... 157
2 Intersil Corp. ................................... 42
3 Intuit, Inc. B.................................... 116
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
TECHNOLOGY -- (CONTINUED)
4 Jabil Circuit, Inc. B............................. $ 115
4 Juniper Networks, Inc. B.......................... 88
2 KLA-Tencor Corp. ................................. 93
1 L-3 Communications Holdings, Inc. ................ 109
2 Lam Research Corp. B.............................. 57
4 Linear Technology Corp. .......................... 123
3 Macromedia, Inc. B................................ 110
3 Marvell Technology Group Ltd. B................... 134
3 Maxim Integrated Products, Inc. .................. 100
6 MEMC Electronic Materials, Inc. B................. 112
5 Mercury Interactive Corp. B....................... 173
6 Microchip Technology, Inc. ....................... 181
1 Millipore Corp. B................................. 90
3 National Semiconductor Corp. ..................... 65
2 NAVTEQ Corp. B.................................... 73
3 Network Appliance, Inc. B......................... 90
1 Neustar, Inc. B................................... 41
5 Nextel Partners, Inc. Class A B................... 117
8 Polycom, Inc. B................................... 117
2 Salesforce.com, Inc. B............................ 61
1 SanDisk Corp. B................................... 44
2 SRA International, Inc. B......................... 70
1 Varian Semiconductor Equipment Associates, Inc.
B............................................... 53
6 VeriSign, Inc. B.................................. 130
3 Xilinx, Inc. ..................................... 64
3 Zebra Technologies Corp. Class A B................ 134
-------
5,127
-------
TRANSPORTATION -- 3.2%
7 Gentex Corp. ..................................... 132
4 McDermott International, Inc. B................... 137
3 Royal Caribbean Cruises Ltd. ..................... 117
6 Southwest Airlines Co. ........................... 98
2 UTI Worldwide, Inc. .............................. 132
-------
616
-------
UTILITIES -- 0.3%
1 Questar Corp. .................................... 56
-------
Total common stock
(cost $18,285).................................. $18,621
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 3.9%
FINANCE -- 3.9%
$752 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 752
-------
Total short-term investments
(cost $752)..................................... $ 752
-------
Total investments in securities
(cost $19,037) O................................ $19,373
=======
</Table>
The accompanying notes are an integral part of these financial statements.
169
THE HARTFORD SELECT MIDCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 4.12% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $19,150 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $1,109
Unrealized depreciation.......................... (886)
------
Net unrealized appreciation...................... $ 223
======
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
170
THE HARTFORD SELECT MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 92.7%
BASIC MATERIALS -- 4.7%
3 Albemarle Corp. .................................. $ 98
3 Carlisle Cos., Inc. .............................. 167
6 Crane Co. ........................................ 198
5 Huntsman Corp. B.................................. 107
1 Lafarge North America, Inc. ...................... 82
6 Lubrizol Corp. ................................... 229
2 Praxair, Inc. .................................... 94
6 Syngenta AG ADR B................................. 133
8 Valspar Corp. .................................... 183
-------
1,291
-------
CAPITAL GOODS -- 3.5%
4 American Standard Cos., Inc. ..................... 152
4 Goodrich Corp. ................................... 148
1 ITT Industries, Inc. ............................. 122
4 Pitney Bowes, Inc. ............................... 177
4 SPX Corp. B....................................... 189
3 Textron, Inc. .................................... 180
-------
968
-------
CONSUMER CYCLICAL -- 14.5%
2 AutoZone, Inc. B.................................. 154
8 Avnet, Inc. B..................................... 173
18 Big Lots, Inc. B.................................. 209
8 Claires Stores, Inc. ............................. 211
2 Darden Restaurants, Inc. ......................... 49
6 Dollar Tree Stores, Inc. B........................ 138
3 Federated Department Stores, Inc. ................ 209
14 Foot Locker, Inc. ................................ 264
2 Fortune Brands, Inc. ............................. 144
10 Furniture Brands International, Inc. ............. 183
8 Hasbro, Inc. ..................................... 141
3 Ingram Micro, Inc. Class A B...................... 51
8 Lear Corp. ....................................... 253
22 Leggett & Platt, Inc. ............................ 449
5 Liz Claiborne, Inc. .............................. 190
7 Marvel Entertainment, Inc. ....................... 130
2 Mohawk Industries, Inc. B......................... 180
3 Reebok International Ltd. ........................ 183
12 Sherwin-Williams Co. ............................. 515
6 Zale Corp. B...................................... 179
-------
4,005
-------
CONSUMER STAPLES -- 0.9%
6 Delta and Pine Land Co. .......................... 145
4 McCormick & Co., Inc. ............................ 112
-------
257
-------
ENERGY -- 6.0%
4 AGL Resources, Inc. .............................. 137
3 Apache Corp. ..................................... 198
4 Cimarex Energy Co. B.............................. 157
5 Forest Oil Corp. B................................ 232
1 Murphy Oil Corp. ................................. 47
5 Noble Energy, Inc. ............................... 204
7 Pioneer Natural Resources Co. .................... 365
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
ENERGY -- (CONTINUED)
3 Pogo Producing Co. ............................... $ 151
4 XTO Energy, Inc. ................................. 174
-------
1,665
-------
FINANCE -- 25.7%
1 Alleghany Corp. .................................. 271
11 Annaly Mortgage Management, Inc. ................. 127
13 AON Corp. ........................................ 423
2 Arch Capital Group Ltd. B......................... 89
9 Assurant, Inc. ................................... 360
5 Brascan Corp. Class A............................. 206
7 Cincinnati Financial Corp. ....................... 306
3 CIT Group, Inc. .................................. 137
5 CNA Financial Corp. B............................. 142
10 E*Trade Financial Corp. B......................... 180
8 Endurance Specialty Holdings Ltd. ................ 252
6 Huntington Bancshares, Inc. ...................... 137
6 KeyCorp........................................... 184
7 Leucadia National Corp. .......................... 318
8 MBIA, Inc. ....................................... 483
3 Mercury General Corp. ............................ 187
7 North Fork Bancorporation, Inc. .................. 187
12 Nuveen Investments, Inc. Class A.................. 478
7 Old Republic International Corp. ................. 174
4 PNC Financial Services Group, Inc. ............... 243
6 Protective Life Corp. ............................ 276
10 Rent-A-Center, Inc. B............................. 175
6 Ryder System, Inc. ............................... 226
2 StanCorp Financial Group, Inc. ................... 203
3 State Street Corp. ............................... 155
2 The Student Loan Corp. ........................... 379
3 Torchmark Corp. .................................. 153
9 Waddell and Reed Financial, Inc. Class A.......... 175
10 Washington Federal, Inc. ......................... 225
@@ White Mountains Insurance Group Ltd. ............. 218
-------
7,069
-------
HEALTH CARE -- 4.3%
4 Bard (C.R.), Inc. ................................ 224
15 King Pharmaceuticals, Inc. B...................... 239
3 Omnicare, Inc. ................................... 135
16 QLT, Inc. B....................................... 116
9 Serono S.A. ADR................................... 138
6 STERIS Corp. ..................................... 144
5 Watson Pharmaceuticals, Inc. B.................... 176
-------
1,172
-------
SERVICES -- 14.6%
12 Avaya, Inc. B..................................... 139
11 BISYS Group, Inc. B............................... 140
6 Clear Channel Communications, Inc. ............... 180
6 Computer Sciences Corp. B......................... 297
9 Convergys Corp. B................................. 151
5 Deluxe Corp. ..................................... 167
8 DeVry, Inc. B..................................... 174
3 Dun & Bradstreet Corp. B.......................... 158
3 Fairmont Hotels & Resorts, Inc. .................. 104
</Table>
The accompanying notes are an integral part of these financial statements.
171
THE HARTFORD SELECT MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
SERVICES -- (CONTINUED)
3 Harrah's Entertainment, Inc. ..................... $ 175
5 Hewitt Associates, Inc. B......................... 144
4 Hilton Hotels Corp. .............................. 84
21 Interpublic Group of Cos., Inc. B................. 221
1 Jacobs Engineering Group, Inc. B.................. 38
7 Lamar Advertising Co. B........................... 294
7 Manpower, Inc. ................................... 331
9 MoneyGram International, Inc. .................... 214
3 R.H. Donnelley Corp. B............................ 204
3 Scripps (E.W.) Co. Class A........................ 151
6 Speedway Motorsports, Inc. B...................... 229
8 Synopsys, Inc. B.................................. 159
5 Tetra Tech, Inc. B................................ 71
16 Unisys Corp. B.................................... 82
4 Viad Corp. ....................................... 112
-------
4,019
-------
TECHNOLOGY -- 10.9%
7 Agilent Technologies, Inc. B...................... 211
8 Amdocs Ltd. B..................................... 206
2 Arbitron, Inc. ................................... 86
22 BEA Systems, Inc. B............................... 194
16 BMC Software, Inc. B.............................. 317
4 ChoicePoint, Inc. B............................... 156
9 CSG Systems International, Inc. B................. 200
2 Dover Corp. ...................................... 94
2 Harris Corp. ..................................... 95
10 Lexmark International, Inc. ADR B................. 399
3 Millipore Corp. B................................. 190
8 NCR Corp. B....................................... 251
11 PerkinElmer, Inc. ................................ 247
8 Polycom, Inc. B................................... 121
13 Siebel Systems, Inc. ............................. 132
6 Thomson ADR....................................... 115
-------
3,014
-------
TRANSPORTATION -- 3.6%
3 CNF, Inc. ........................................ 180
4 CSX Corp. ........................................ 188
3 Florida East Coast Industries, Inc. .............. 118
3 Norfolk Southern Corp. ........................... 136
3 Royal Caribbean Cruises Ltd. ..................... 141
2 Winnebago Industries, Inc. ....................... 59
4 Yellow Roadway Corp. B............................ 159
-------
981
-------
UTILITIES -- 4.0%
8 Alliant Energy Corp. ............................. 214
2 Constellation Energy Group, Inc. ................. 131
3 FirstEnergy Corp. ................................ 157
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
UTILITIES -- (CONTINUED)
4 PG&E Corp. ....................................... $ 135
4 PPL Corp. ........................................ 138
3 Questar Corp. .................................... 213
@@ TXU Corp. ........................................ 40
4 Westar Energy, Inc. .............................. 86
-------
1,114
-------
Total common stock
(cost $25,028).................................. $25,555
-------
PREFERRED STOCKS -- 0.3%
UTILITIES -- 0.3%
2 NRG Energy, Inc. B................................ $ 86
-------
Total preferred stocks
(cost $80)...................................... $ 86
-------
Total long-term investments
(cost $25,108).................................. $25,641
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 4.7%
FINANCE -- 4.7%
$1,283 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 1,283
-------
Total short-term investments
(cost $1,283)................................... $ 1,283
-------
Total investments in securities
(cost $26,391) O................................ $26,924
=======
</Table>
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 2.53% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $26,417 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $1,504
Unrealized depreciation.......................... (997)
------
Net unrealized appreciation...................... $ 507
======
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
172
THE HARTFORD SELECT SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 96.2%
BASIC MATERIALS -- 5.0%
1 Airgas, Inc. ..................................... $ 23
@@ Arch Coal, Inc. .................................. 15
1 Cabot Corp. ...................................... 34
1 Century Aluminum Co. B............................ 18
3 Ceradyne, Inc. B.................................. 98
4 Coeur d'Alene Mines Corp. B....................... 16
1 Kaydon Corp. ..................................... 27
2 Meridian Gold, Inc. B............................. 34
1 Royal Gold, Inc. ................................. 14
1 Serologicals Corp. B.............................. 14
------
293
------
CAPITAL GOODS -- 4.6%
1 Actuant Corp. Class A............................. 24
1 Bucyrus International, Inc. ...................... 25
1 Charles & Colvard Ltd. ........................... 14
@@ Dril-Quip, Inc. B................................. 16
1 Graco, Inc. ...................................... 31
1 Idex Corp. ....................................... 24
2 Imax Corp. B...................................... 15
1 K & F Industries Holdings, Inc. B................. 14
@@ Lufkin Industries, Inc. .......................... 9
1 Tessera Technologies, Inc. B...................... 25
3 Turbochef Technologies, Inc. B.................... 34
1 Universal Compression Holdings, Inc. B............ 36
------
267
------
CONSUMER CYCLICAL -- 9.0%
1 A.C. Moore Arts & Crafts, Inc. B.................. 15
1 Advance Auto Parts, Inc. B........................ 19
2 Casual Male Retail Group, Inc. B.................. 13
2 Central Euro Distribution Corp. B................. 60
1 Cost Plus, Inc. B................................. 14
1 Desarrolladora Homex B............................ 30
2 GSI Commerce, Inc. B.............................. 37
@@ ICU Medical, Inc. B............................... 14
3 Insight Enterprises, Inc. B....................... 68
2 Interline Brands, Inc B........................... 31
2 Merge Technologies, Inc. B........................ 37
1 Performance Food Group Co. B...................... 33
2 PSS World Medical, Inc. B......................... 25
1 RARE Hospitality International, Inc. B............ 31
@@ School Specialty, Inc. B.......................... 14
1 SCP Pool Corp. ................................... 22
1 United Natural Foods, Inc. B...................... 14
1 Volcom, Inc. B.................................... 24
1 WESCO International, Inc. B....................... 24
------
525
------
CONSUMER STAPLES -- 0.6%
1 Parlux Fragrances, Inc. B......................... 19
@@ Ralcorp Holdings, Inc. B.......................... 16
------
35
------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
ENERGY -- 7.5%
1 AGL Resources, Inc. .............................. $ 21
@@ Atmos Energy Corp. ............................... 8
1 ATP Oil & Gas Corp. B............................. 44
2 Bronco Drilling Co., Inc. ........................ 39
3 Carrizo Oil & Gas, Inc. B......................... 75
1 Denbury Resources Inc. B.......................... 39
1 Encore Acquisition Co. B.......................... 31
4 Endeavour International Corp. B................... 16
2 Grey Wolf, Inc. B................................. 15
2 Pride International, Inc. B....................... 45
1 Quicksilver Resources, Inc. B..................... 23
1 Remington Oil & Gas Corp. B....................... 18
@@ Southwestern Energy Co. B......................... 22
1 Superior Well Services, Inc. B.................... 14
1 Whiting Petroleum Corp. B......................... 24
------
434
------
FINANCE -- 8.4%
1 Apsen Insurance Holdings Ltd. .................... 22
1 Bank of the Ozarks, Inc. ......................... 28
1 Boston Private Financial Holdings, Inc. .......... 23
1 Centene Corp. B................................... 12
2 Eaton Vance Corp. ................................ 55
2 Euronet Worldwide, Inc. B......................... 67
1 First Niagara Financial Group, Inc. .............. 21
1 Gladstone Capital Corp. .......................... 15
1 Gladstone Commercial Corp. ....................... 23
2 HealthExtras, Inc. B.............................. 32
1 Jer Investors Trust, Inc. ........................ 12
@@ Mercantile Bank Corp. ............................ 15
1 Montpelier Re Holdings Ltd. ...................... 24
1 Republic Co. Group, Inc. ......................... 16
@@ StanCorp Financial Group, Inc. ................... 28
1 Sunstone Hotel Investors, Inc. ................... 25
3 TradeStation Group, Inc. B........................ 26
3 UCBH Holdings, Inc. .............................. 47
------
491
------
HEALTH CARE -- 17.1%
1 Adams Respiratory Therapeutics, Inc. B............ 52
2 Adeza Biomedical Corp. ........................... 36
1 American Healthways, Inc. B....................... 28
1 Anika Therapeutics, Inc. ......................... 16
1 ArthroCare Corp. B................................ 48
1 Aspect Medical Systems, Inc. B.................... 33
1 AtheroGenics, Inc. B.............................. 8
@@ Bright Horizons Family Solutions, Inc. B.......... 16
1 Covance, Inc. B................................... 24
1 First Horizon Pharmaceutical Corp. B.............. 20
1 Horizon Health Corp. B............................ 16
1 Impax Laboratories, Inc. B........................ 15
1 Integra Lifesciences Holdings Corp. B............. 24
1 Invacare Corp. ................................... 20
1 Itralase Corp. B.................................. 17
1 Keryx Biopharmaceuticals, Inc. B.................. 9
2 Kos Pharmaceuticals, Inc. B....................... 96
</Table>
The accompanying notes are an integral part of these financial statements.
173
THE HARTFORD SELECT SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
1 Kyphon, Inc. B.................................... $ 56
1 LCA-Vision, Inc. ................................. 38
1 LHC Group, Inc. B................................. 21
4 Lifecell Corp. B.................................. 62
@@ LifePoint Hospitals, Inc. B....................... 16
2 Odyssey HealthCare, Inc. ......................... 29
@@ Onyx Pharmaceuticals, Inc. B...................... 10
1 Option Care, Inc. B............................... 14
@@ QUIDEL Corp. B.................................... 1
1 Rigel Pharmaceuticals, Inc. B..................... 11
2 Salix Pharmaceuticals Ltd. B...................... 30
2 SFBC International, Inc. B........................ 94
1 Symmetry Medical, Inc. B.......................... 15
1 United Therapeutics Corp. B....................... 66
1 Usana Health Sciences, Inc. B..................... 31
2 Vnus Medical Technologies B....................... 23
------
995
------
SERVICES -- 17.7%
1 Alliance Data Systems Corp. B..................... 39
4 aQuantive, Inc. B................................. 84
2 Atheros Communications, Inc. B.................... 14
@@ Avid Technology, Inc. B........................... 20
5 Broadwing Corp.................................... 29
1 Carmike Cinemas, Inc. ............................ 22
@@ Cerner Corp. B.................................... 17
1 CRA International, Inc. B......................... 31
2 DeVry, Inc. B..................................... 34
@@ Digital River, Inc. B............................. 11
3 Digitas, Inc. B................................... 35
2 Education Management Corp. B...................... 59
1 Entercom Communications Corp. B................... 17
2 Entravision Communications Corp. Class A B........ 16
3 Focus Media Holding Ltd. ADR B.................... 71
1 FTI Consulting, Inc. B............................ 36
1 Gevity HR, Inc. .................................. 26
1 Hewitt Associates, Inc. B......................... 29
1 Iron Mountain, Inc. B............................. 31
2 Ixia B............................................ 27
2 La Quinta Corp. B................................. 15
2 LECG Corp. B...................................... 33
1 Lodgian, Inc. B................................... 5
2 Quest Software, Inc. B............................ 24
3 Radio One, Inc. Class D B......................... 30
1 Regal Entertainment Group......................... 24
1 SafeNet, Inc. B................................... 30
1 Speedway Motorsports, Inc. B...................... 18
2 Stamps.com, Inc. B................................ 36
1 Stericycle, Inc. B................................ 35
1 Ventiv Health, Inc. B............................. 35
2 Veritas DGC, Inc. B............................... 55
1 West Corp. B...................................... 39
------
1,027
------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
TECHNOLOGY -- 23.5%
1 ADTRAN, Inc. ..................................... $ 24
2 Alamosa Holdings, Inc. B.......................... 28
1 American Science & Engineering, Inc. ............. 40
@@ Audible, Inc. .................................... 2
1 AudioCodes Ltd. B................................. 16
1 Avocent Corp. B................................... 21
1 Benchmark Electronics, Inc. B..................... 14
@@ Blackbaud, Inc. .................................. 6
1 Blue Coat Systems, Inc. .......................... 42
1 Cabot Microelectronics Corp. B.................... 15
@@ Commonwealth Telephone Enterprise, Inc. .......... 14
1 Comtech Telecommunications Corp. B................ 27
2 Concur Technologies, Inc. B....................... 31
1 Consolidated Communications Holdings, Inc. ....... 15
1 CTRIP Communications International Ltd. .......... 58
1 Equinix, Inc. B................................... 37
2 FairPoint Communications, Inc. ................... 22
2 Glenayre Technologies, Inc. B..................... 6
@@ Global Payments, Inc. ............................ 17
3 GrafTech International Ltd. B..................... 14
3 Harris Interactive, Inc. B........................ 10
@@ Hologic, Inc. B................................... 22
@@ Ikanos Communications, Inc. B..................... 3
2 Informatica Corp. B............................... 18
1 InPhonic, Inc. B.................................. 13
2 Integrated Device Technology, Inc. B.............. 20
3 Integrated Silicon Solution, Inc. B............... 22
1 Intersil Corp. ................................... 25
1 Iowa Telecommunications Services, Inc. ........... 23
2 Jamdat Mobile, Inc. B............................. 33
2 Jupitermedia Corp. B.............................. 27
1 Laserscope B...................................... 16
3 Lionbridge Technologies B......................... 20
1 M-Systems Flash Disk Pioneers Ltd. ADR B.......... 44
@@ MTC Technologies, Inc. B.......................... 10
3 Online Resources Corp B........................... 34
2 Openwave Systems, Inc. B.......................... 43
2 Orckit Communications Ltd. B...................... 32
2 PC-Tel, Inc. B.................................... 19
2 PDF Solutions, Inc. B............................. 30
1 Polycom, Inc. B................................... 20
1 Power Integrations, Inc. B........................ 21
1 Rackable Systems, Inc. B.......................... 15
2 Rightnow Technologies, Inc. B..................... 32
1 Rogers Corp B..................................... 30
2 SBA Communications Corp. B........................ 24
2 Silicon Motion Technology Corp. B................. 35
@@ Supertex, Inc. ................................... 7
1 Syneron Medical Ltd. B............................ 40
1 TALX Corp. ....................................... 32
1 Tekelec B......................................... 19
2 Tibco Software, Inc. B............................ 16
2 Trident Microsystems, Inc. B...................... 51
4 Valueclick, Inc. B................................ 65
</Table>
The accompanying notes are an integral part of these financial statements.
174
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1 Vasco Data Security International B............... $ 15
2 WebSideStory, Inc. B.............................. 30
------
1,365
------
TRANSPORTATION -- 2.3%
3 A.S.V., Inc. ..................................... 58
@@ American Commercial Lines, Inc. B................. 11
3 Heartland Express, Inc. .......................... 63
------
132
------
UTILITIES -- 0.5%
1 California Water Service Group.................... 21
1 PNM Resources, Inc. .............................. 7
------
28
------
Total common stock
(cost $5,824)................................... $5,592
------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 2.8%
FINANCE -- 2.8%
$163 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 163
------
Total short-term investments
(cost $163)..................................... $ 163
------
Total investments in securities
(cost $5,987) O................................. $5,755
======
</Table>
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 6.83% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $5,990 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................... $ 135
Unrealized depreciation........................... (370)
-----
Net unrealized depreciation....................... $(235)
=====
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
175
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 45.7%
FINANCE -- 45.7%
$ 1,000 ACE Securities Corp.,
3.28%, 08/15/2030 M............................. $ 977
1,500 Aegis Asset Backed Securities Trust,
4.52%, 03/25/2035............................... 1,501
500 American Express Credit Account Master Trust,
1.90%, 01/15/2009............................... 491
586 American Express Credit Account Master Trust,
4.47%, 02/15/2012 M............................. 587
600 AmeriCredit Automobile Receivables Trust,
5.04%, 05/06/2011............................... 594
1,400 AmeriCredit Automobile Receivables Trust,
5.07%, 07/06/2010............................... 1,387
202 AQ Finance CEB Trust,
9.04%, 08/25/2033 MK............................ 198
230 Argent NIM Trust,
4.21%, 11/25/2034 M............................. 230
14 Asset Backed Funding Corp. NIM Trust,
4.55%, 12/26/2033 M............................. 14
1,946 Banc of America Commercial Mortgage, Inc.,
3.46%, 07/10/2042............................... 1,906
33,167 Banc of America Commercial Mortgage, Inc.,
4.08%, 12/10/2042 WK............................ 786
144,833 Banc of America Large Loan,
3.89%, 12/15/2016 MW............................ 1,066
1,500 Bank of America Securities Auto Trust,
4.49%, 02/18/2013............................... 1,463
1,500 Bank One Issuance Trust,
3.76%, 08/15/2008............................... 1,499
347 Bank One Issuance Trust,
4.54%, 09/15/2010............................... 343
930 Bayview Commercial Asset Trust,
5.04%, 01/25/2035 MK............................ 939
26,206 Bear Stearns Commercial Mortgage Securities, Inc.,
4.12%, 11/11/2041 WK............................ 824
64,845 Bear Stearns Commercial Mortgage Securities, Inc.,
4.64%, 02/11/2041 WK............................ 871
1,000 BMW Vehicle Owner Trust,
3.52%, 10/25/2010............................... 979
1,000 Capital Auto Receivables Asset Trust,
3.12%, 03/15/2007............................... 994
500 Capital Auto Receivables Asset Trust,
4.73%, 09/15/2010............................... 491
400 Capital One Master Trust,
7.90%, 10/15/2010 M............................. 419
119 Chase Commercial Mortgage Securities Corp.,
6.90%, 11/19/2028............................... 119
90 Chase Funding Mortgage Loan Asset-Backed,
2.34%, 04/25/2024............................... 90
221 Chase Funding Mortgage Loan Corp.,
2.427%, 06/25/2019.............................. 221
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$ 479 Chase Manhattan Auto Owner Trust,
2.78%, 06/15/2010............................... $ 469
3,000 Citibank Credit Card Issuance Trust,
2.50%, 04/07/2008............................... 2,973
500 Citibank Credit Card Issuance Trust,
4.74%, 02/09/2009............................... 505
19,559 Citigroup Commercial Mortgage Trust,
4.10%, 10/15/2041 MWK........................... 826
900 CNH Equipment Trust,
2.57%, 09/15/2009............................... 878
302 CNH Equipment Trust,
3.13%, 11/15/2010............................... 297
403 CNH Equipment Trust,
3.35%, 02/15/2011............................... 394
750 CNH Equipment Trust,
4.93%, 12/17/2012............................... 736
3,725 Commercial Mortgage Pass-Through Certificates,
3.59%, 03/10/2039 MWK........................... 132
23,364 Credit Suisse First Boston Mortgage Securities
Corp.,
4.15%, 11/15/2037 MWK........................... 816
14,201 Credit Suisse First Boston Mortgage Securities
Corp.,
4.17%, 07/15/2036 MWK........................... 382
151 Credit Suisse First Boston Mortgage Securities
Corp.,
5.38%, 11/18/2012 M............................. 151
112 DLJ Mortgage Acceptance Corp.,
6.82%, 10/15/2030 M............................. 115
932 Equity One ABS, Inc.,
5.773%, 10/01/2032.............................. 934
300 Equity One ABS, Inc.,
6.54%, 07/25/2034............................... 305
1,625 Ford Credit Auto Owner Trust,
4.19%, 07/15/2009............................... 1,601
400 Ford Credit Auto Owner Trust,
4.29%, 11/15/2007............................... 399
10,014 GE Capital Commercial Mortgage Corp.,
3.76%, 03/10/2040 MWK........................... 247
372 GE Commercial Equipment Financing LLC,
3.65%, 05/22/2014 M............................. 365
731 GMAC Commercial Mortgage Securities, Inc.,
3.12%, 03/10/2038............................... 708
380 GMAC Mortgage Corporation Loan Trust,
4.09%, 04/25/2033............................... 372
700 Goldman Sachs Auto Loan Trust,
4.98%, 11/15/2013............................... 701
22,200 Goldman Sachs Mortgage Securities Corp. II,
4.38%, 08/10/2038 MWK........................... 300
500 Granite Mortgages plc,
5.62%, 01/20/2043............................... 507
547 Green Tree Financial Corp.,
6.27%, 06/01/2030............................... 550
24 Green Tree Financial Corp.,
7.30%, 01/15/2026............................... 25
</Table>
The accompanying notes are an integral part of these financial statements.
176
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,068 Herd Trust,
4.50%, 09/27/2034 M............................. $ 1,067
1,000 Hyundai Auto Receivables Trust,
3.91%, 02/16/2009 M............................. 991
750 Hyundai Auto Receivables Trust,
4.10%, 08/15/2011............................... 734
1,500 Hyundai Auto Receivables Trust,
4.45%, 02/15/2012............................... 1,468
259 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
2.92%, 01/12/2038............................... 254
38,930 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 WK............................ 741
15,822 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.65%, 10/15/2037 MW............................ 403
41,267 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.82%, 08/12/2037 WK............................ 212
6,167 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
5.50%, 01/15/2038 MWK........................... 233
54 LB-UBS Commercial Mortgage Trust,
3.17%, 12/15/2026............................... 53
342 LB-UBS Commercial Mortgage Trust,
3.34%, 09/15/2027............................... 331
1,684 LB-UBS Commercial Mortgage Trust,
3.625%, 10/15/2029.............................. 1,641
2,562 LB-UBS Commercial Mortgage Trust,
3.69%, 12/15/2036 MWK........................... 103
449 Long Beach Asset Holdings Corp.,
4.12%, 02/25/2035 M............................. 447
500 Marlin Leasing Receivables LLC,
4.52%, 03/15/2008 M............................. 496
500 Marlin Leasing Receivables LLC,
5.25%, 08/15/2012 M............................. 497
1,000 MBNA Credit Card Master Note Trust,
4.95%, 06/15/2009............................... 1,004
854 MBNA Credit Card Master Note Trust,
6.55%, 12/15/2008............................... 865
600 Memory Lane,
5.027%, 10/24/2014.............................. 600
1,216 Merrill Lynch Mortgage Trust,
3.46%, 08/12/2039............................... 1,186
20,263 Merrill Lynch Mortgage Trust,
3.81%, 08/12/2039 MWK........................... 764
21,104 Merrill Lynch Mortgage Trust,
3.96%, 09/12/2041 MWK........................... 799
30,444 Merrill Lynch Mortgage Trust,
4.67%, 09/12/2042 WK............................ 436
366 Morgan Stanley ABS Capital I,
3.56%, 01/25/2035............................... 366
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$ 252 Morgan Stanley Capital I,
2.80%, 12/15/2041............................... $ 245
444 Morgan Stanley Capital I,
3.96%, 06/15/2040............................... 434
1,622 Morgan Stanley Capital I,
4.03%, 06/15/2038............................... 1,589
287 Morgan Stanley Dean Witter Capital I,
5.38%, 01/15/2039............................... 290
558 Navistar Financial Corp. Owner Trust,
3.08%, 11/15/2009............................... 545
340 Novastar Nim Trust,
3.97%, 03/25/2035 M............................. 339
750 Providian Gateway Master Trust,
3.95%, 09/15/2011 M............................. 735
1,000 Providian Gateway Master Trust,
4.05%, 11/15/2011 M............................. 980
1,000 Residential Asset Mortgage Products, Inc.,
3.68%, 08/25/2026............................... 992
525 Residential Asset Securities Corp.,
3.41%, 05/25/2025............................... 522
115 Residential Asset Securities Corp.,
7.51%, 10/25/2030............................... 115
1,534 Salomon Brothers Mortgage Securities VII,
3.222%, 03/18/2036.............................. 1,512
87 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 89
1,500 Structured Asset Investment Loan Trust,
5.79%, 11/25/2033............................... 1,521
500 Superior Wholesale Inventory Financing Trust,
4.45%, 06/15/2010............................... 500
436 Wachovia Bank Commercial Mortgage Trust,
3.48%, 08/15/2041............................... 425
6,530 Wachovia Bank Commercial Mortgage Trust,
3.65%, 02/15/2041 MWK........................... 236
54 Wachovia Bank Commercial Mortgage Trust,
4.54%, 04/15/2034............................... 54
408 WFS Financial Owner Trust,
2.48%, 12/20/2010............................... 402
275 WFS Financial Owner Trust,
2.73%, 05/20/2011............................... 270
111 WFS Financial Owner Trust,
3.05%, 12/20/2010............................... 110
1,000 WFS Financial Owner Trust,
4.70%, 05/19/2013............................... 984
217 Whole Auto Loan Trust,
2.24%, 03/15/2010............................... 213
22 Whole Auto Loan Trust,
3.13%, 03/15/2010............................... 21
421 Whole Auto Loan Trust,
3.13%, 03/15/2011............................... 414
842 Whole Auto Loan Trust,
3.37%, 03/15/2011............................... 830
</Table>
The accompanying notes are an integral part of these financial statements.
177
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 400 World Financial Network Credit Card Master,
6.92%, 08/15/2011............................... $ 417
371 World Omni Auto Receivables Trust,
3.62%, 07/12/2011............................... 364
--------
65,516
--------
Total asset and commercial mortgage backed
securities
(cost $66,650).................................. $ 65,516
--------
CORPORATE BONDS: INVESTMENT GRADE -- 32.2%
BASIC MATERIALS -- 2.1%
$ 250 Carlisle Cos., Inc.,
6.70%, 05/15/2008............................... $ 258
125 ICI North America,
8.875%, 11/15/2006.............................. 130
160 International Flavors & Fragrances, Inc.,
6.45%, 05/15/2006............................... 161
200 International Paper Co.,
3.80%, 04/01/2008............................... 194
100 Pactiv Corp.,
8.00%, 04/15/2007............................... 103
380 Placer Dome, Inc.,
7.125%, 06/15/2007.............................. 392
370 Potash Corp. of Saskatchewan, Inc.,
7.125%, 06/15/2027.............................. 382
500 Valspar Corp.,
6.00%, 05/01/2007............................... 506
830 Worthington Industries, Inc.,
7.125%, 05/15/2006.............................. 840
--------
2,966
--------
CAPITAL GOODS -- 2.3%
782 General Dynamics Corp.,
2.125%, 05/15/2006.............................. 773
450 Ingersoll-Rand Co. Ltd.,
6.25%, 05/15/2006............................... 454
750 McDonnell Douglas Corp.,
6.875%, 11/01/2006.............................. 763
300 Textron, Inc.,
6.625%, 11/15/2007.............................. 309
600 Tyco International Group S.A.,
6.375%, 02/15/2006.............................. 603
450 United Technologies Corp.,
7.00%, 09/15/2006............................... 459
--------
3,361
--------
CONSUMER CYCLICAL -- 1.8%
500 Centex Corp.,
4.75%, 01/15/2008............................... 495
700 Darden Restaurants, Inc.,
5.75%, 03/15/2007............................... 706
470 Masco Corp.,
6.75%, 03/15/2006............................... 474
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CONSUMER CYCLICAL -- (CONTINUED)
$ 200 May Department Stores Co.,
6.875%, 11/01/2005.............................. $ 200
385 Mohawk Industries, Inc.,
6.50%, 04/15/2007............................... 393
300 PHH Corp.,
6.00%, 03/1/2008................................ 304
--------
2,572
--------
CONSUMER STAPLES -- 0.7%
675 Cargill, Inc.,
6.25%, 05/01/2006 M............................. 681
90 ConAgra Foods, Inc.,
9.875%, 11/15/2005.............................. 90
240 General Mills, Inc.,
6.45%, 10/15/2006............................... 243
--------
1,014
--------
ENERGY -- 1.6%
500 Anadarko Petroleum Corp.,
3.25%, 05/01/2008............................... 481
265 Anadarko Petroleum Corp.,
7.00%, 10/15/2006............................... 269
300 BOC Group, Inc.,
7.45%, 06/15/2006 M............................. 305
600 Consolidated Natural Gas Co.,
5.375%, 11/01/2006.............................. 603
350 Louis Dreyfus Natural Gas Corp.,
6.875%, 12/01/2007.............................. 362
300 Union Oil Co. of California,
9.125%, 02/15/2006.............................. 303
--------
2,323
--------
FINANCE -- 12.1%
750 Ace Ina Holdings, Inc.,
8.30%, 08/15/2006............................... 770
451 Aetna, Inc.,
7.375%, 03/01/2006.............................. 455
354 American General Finance Corp.,
5.875%, 07/14/2006.............................. 357
500 American General Finance Corp.,
5.91%, 06/12/2006............................... 504
400 American Honda Finance Corp.,
2.875%, 04/03/2006 M............................ 397
1,000 Amvescap plc,
5.90%, 01/15/2007............................... 1,007
400 Avalon Properties, Inc.,
6.875%, 12/15/2007.............................. 415
100 Banca Commerciale Italiana,
8.25%, 07/15/2007............................... 105
150 Banesto Finance Ltd.,
7.50%, 03/25/2007............................... 155
389 Bankers Trust Corp.,
7.125%, 03/15/2006.............................. 392
500 Capital One Financial Corp.,
8.75%, 02/01/2007............................... 523
50 CIGNA Corp.,
8.25%, 01/01/2007............................... 52
</Table>
The accompanying notes are an integral part of these financial statements.
178
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,000 Countrywide Home Loans, Inc.,
5.50%, 08/01/2006............................... $ 1,006
220 Credit Suisse First Boston NY,
6.50%, 05/01/2008 M............................. 228
1,000 Credit Suisse First Boston USA, Inc.,
5.875%, 08/01/2006.............................. 1,008
300 Equifax, Inc.,
4.95%, 11/01/2007............................... 300
200 Equitable Life Assurance Society,
6.95%, 12/01/2005 M............................. 200
500 ERAC USA Finance Co.,
6.95%, 01/15/2006 M............................. 502
200 Evans Withycombe Residential, Inc.,
7.625%, 04/15/2007.............................. 206
250 Ford Motor Credit Co.,
6.875%, 02/01/2006.............................. 250
650 Household Finance Corp.,
5.75%, 01/30/2007............................... 657
450 Household Finance Corp.,
7.65%, 05/15/2007............................... 467
400 J.P. Morgan Chase & Co.,
5.625%, 08/15/2006.............................. 403
450 J.P. Morgan Chase & Co.,
7.25%, 06/01/2007............................... 465
250 Key Bank N.A., Inc.,
5.00%, 07/17/2007............................... 250
700 Key Bank N.A., Inc.,
7.125%, 08/15/2006.............................. 712
120 Lincoln National Corp.,
5.25%, 06/15/2007............................... 121
393 MBNA America Bank N.A.,
6.50%, 06/20/2006............................... 397
148 MBNA America Bank N.A.,
6.75%, 03/15/2008 M............................. 154
150 Merrill Lynch & Co., Inc.,
8.00%, 06/01/2007............................... 158
1,000 Morgan Stanley Dean Witter, Inc.,
6.10%, 04/15/2006............................... 1,006
605 PNC Funding Corp.,
5.75%, 08/01/2006............................... 609
1,000 Prudential Insurance Co. of America,
6.375%, 07/23/2006 M............................ 1,011
350 Simon Property Group L.P.,
7.125%, 09/20/2007.............................. 363
1,000 St. Paul Travelers Cos., Inc.,
5.75%, 03/15/2007............................... 1,010
600 Wellpoint Health Networks, Inc.,
6.375%, 06/15/2006.............................. 606
--------
17,221
--------
HEALTH CARE -- 0.2%
300 Quest Diagnostics, Inc.,
6.75%, 07/12/2006............................... 304
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SERVICES -- 3.5%
$ 500 Aramark Services, Inc.,
7.00%, 07/15/2006............................... $ 505
550 Belo Corp.,
7.125%, 06/01/2007.............................. 566
389 Comcast Cable Communications, Inc.,
6.375%, 01/30/2006.............................. 391
300 Fiserv, Inc.,
3.00%, 06/27/2008............................... 283
450 Harrah's Operating Co., Inc.,
7.125%, 06/01/2007.............................. 463
355 Hyatt Equities LLC,
6.875%, 06/15/2007 M............................ 360
250 Marriott International, Inc.,
6.875%, 11/15/2005.............................. 250
200 Marriott International, Inc.,
7.00%, 01/15/2008............................... 208
300 News America, Inc.,
6.625%, 01/09/2008.............................. 310
200 Scholastic Corp.,
5.75%, 01/15/2007............................... 201
200 TCI Communications, Inc.,
6.875%, 02/15/2006.............................. 201
395 USA Networks, Inc.,
6.75%, 11/15/2005............................... 395
500 Walt Disney Co.,
6.75%, 03/30/2006............................... 504
435 WMX Technologies, Inc.,
7.00%, 10/15/2006............................... 443
--------
5,080
--------
TECHNOLOGY -- 4.1%
550 British Telecommunications plc,
7.875%, 12/15/2005.............................. 552
450 Cingular Wireless LLC,
5.625%, 12/15/2006.............................. 454
500 Cingular Wireless Services, Inc.,
7.50%, 05/01/2007............................... 519
290 Cox Communications, Inc.,
7.75%, 08/15/2006............................... 296
800 France Telecom S.A.,
7.45%, 03/01/2006............................... 807
825 Hewlett-Packard Co.,
5.75%, 12/15/2006............................... 833
300 Koninklijke Philips Electronics N.V.,
8.375%, 09/15/2006.............................. 309
707 Raytheon Co.
6.75%, 08/15/2007............................... 727
775 Time Warner Companies, Inc.,
8.11%, 08/15/2006............................... 794
600 Verizon Wireless Capital LLC,
5.375%, 12/15/2006.............................. 603
--------
5,894
--------
</Table>
The accompanying notes are an integral part of these financial statements.
179
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
TRANSPORTATION -- 1.3%
$ 1,030 Norfolk Southern Corp.,
7.40%, 09/15/2006............................... $ 1,054
350 TTX Co.,
3.875%, 03/01/2008 M............................ 339
440 Union Pacific Corp.,
6.70%, 12/01/2006............................... 448
--------
1,841
--------
UTILITIES -- 2.5%
145 Appalachian Power Co.,
6.80%, 03/01/2006............................... 146
250 FPL Group Capital, Inc.,
3.25%, 04/11/2006............................... 249
250 Georgia Power Co.,
6.20%, 02/01/2006............................... 251
1,000 Niagara Mohawk Power Corp.,
7.75%, 05/15/2006............................... 1,017
140 Niagara Mohawk Power Corp.,
9.75%, 11/01/2005............................... 140
250 Northeast Utilities,
3.30%, 06/01/2008............................... 239
750 Progress Energy, Inc.,
6.05%, 04/15/2007............................... 761
250 Puget Sound Energy, Inc.,
3.36%, 06/01/2008............................... 240
300 Southwestern Public Service Co.,
5.125%, 11/01/2006.............................. 301
270 Texas Eastern Transmission L.P.,
5.25%, 07/15/2007............................... 271
--------
3,615
--------
Total corporate bonds: investment grade
(cost $50,757).................................. $ 46,191
--------
U.S. GOVERNMENT SECURITIES -- 14.3%
FEDERAL HOME LOAN BANK -- 0.3%
$ 400 3.00% 2008........................................ $ 384
--------
U.S. TREASURY SECURITIES -- 14.0%
8,660 3.625% 2008 J..................................... 11,016
9,155 4.00% 2007........................................ 9,091
--------
20,107
--------
Total U.S. government securities
(cost $16,659).................................. $ 20,491
--------
U.S. GOVERNMENT AGENCIES -- 3.3%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 1.0%
$ 540 6.00% 2031........................................ $ 547
668 6.00% 2031 -- 2032................................ 675
211 6.50% 2017........................................ 217
--------
1,439
--------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 0.3%
402 6.00% 2032 -- 2033................................ 406
118 6.50% 2032........................................ 121
--------
527
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 2.0%
$ 1,874 6.00% 2030 -- 2032................................ $ 1,897
796 6.00% 2033........................................ 810
102 7.00% 2032........................................ 107
--------
2,814
--------
Total U.S. government agencies
(cost $4,900)................................... $ 4,780
--------
Total long-term investments
(cost $138,966)................................. $136,978
--------
SHORT-TERM INVESTMENTS -- 3.3%
CONSUMER CYCLICAL -- 0.3%
$ 500 Avery Dennison Corp.,
4.19%, 06/07/2006 K............................. $ 500
--------
REPURCHASE AGREEMENTS -- 3.0%
1,420 BNP Paribas Repurchase Agreement,
3.91%, 11/01/2005............................... 1,420
1,420 RBS Greenwich Repurchase Agreement,
3.92%, 11/01/2005............................... 1,420
1,384 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... 1,384
--------
4,224
--------
Total short-term investments
(cost $4,724)................................... $ 4,724
--------
Total investments in securities
(cost $143,690) O............................... $141,702
========
</Table>
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 3.46% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $143,697 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 54
Unrealized depreciation......................... (2,049)
-------
Net unrealized depreciation..................... $(1,995)
=======
</Table>
M 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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at October
31, 2005, was $20,031, which represents 13.96% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
J 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.
W The interest rates disclosed for interest only strips represent effective
yields based upon estimated future cash flows at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
180
THE HARTFORD SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 97.0%
BASIC MATERIALS -- 4.5%
60 Arch Coal, Inc. .................................. $ 4,629
32 Century Aluminum Co. BH........................... 590
25 Eagle Materials, Inc. ............................ 2,632
58 Intermagnetics General Corp. BH................... 1,666
121 Jarden Corp. BH................................... 4,092
--------
13,609
--------
CAPITAL GOODS -- 1.0%
105 Moog, Inc. Class A B.............................. 3,121
--------
CONSUMER CYCLICAL -- 11.6%
57 Advance Auto Parts, Inc. BH....................... 2,153
625 Corporacion GEO S.A. de C.V. B.................... 1,929
97 DSW, Inc. BH...................................... 2,026
128 GameStop Corp. Class A BH......................... 4,537
344 Geox S.p.A. +..................................... 3,274
189 Insight Enterprises, Inc. BH...................... 3,886
117 Persimmon plc +................................... 1,781
81 Ross Stores, Inc. ................................ 2,187
118 Stewart and Stevenson Services, Inc. ............. 2,819
112 Stolt Offshore S.A. +BH........................... 1,158
125 Stolt Offshore S.A. +BHM.......................... 1,305
67 Texas Roadhouse, Inc. BH.......................... 1,054
137 Too, Inc. BH...................................... 3,904
63 Washington Group International, Inc. BH........... 3,130
--------
35,143
--------
CONSUMER STAPLES -- 1.2%
112 Peet's Coffee & Tea, Inc. BH...................... 3,729
--------
ENERGY -- 3.9%
87 Cabot Oil & Gas Corp. ............................ 3,981
50 Cheniere Energy, Inc. BH.......................... 1,876
99 Range Resources Corp. ............................ 3,532
825 Singapore Petroleum Co., Ltd. +................... 2,349
--------
11,738
--------
FINANCE -- 15.7%
253 Admiral Group plc +............................... 1,960
48 Affiliated Managers Group, Inc. BH................ 3,656
13 AMCORE Financial, Inc. ........................... 377
148 American Equity Investment Life Holding Co. ...... 1,719
98 Arch Capital Group Ltd. B......................... 4,835
86 CB Richard Ellis Group, Inc. Class A B............ 4,221
44 IndyMac Bancorp, Inc. ............................ 1,638
92 iShares Russell 2000 Growth Index Fund............ 6,048
1,961 Melco International Development Ltd. +............ 1,896
164 Nasdaq Stock Market, Inc. BH...................... 5,081
134 Nuveen Investments, Inc. Class A.................. 5,412
17 Oil Service HOLDRs Trust.......................... 2,040
63 Pirelli & C. Real Estate S.p.A. +H................ 3,474
73 ProAssurance Corp. BH............................. 3,397
71 Signature Bank BH................................. 2,061
--------
47,815
--------
HEALTH CARE -- 17.2%
132 Abgenix, Inc. BH.................................. 1,373
85 Advanced Neuromodulation Systems, Inc. B.......... 5,175
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
HEALTH CARE -- (CONTINUED)
145 Alkermes, Inc. BH................................. $ 2,358
108 Amylin Pharmaceuticals, Inc. BH................... 3,631
113 AtheroGenics, Inc. BH............................. 1,695
87 Covance, Inc. BH.................................. 4,220
110 Endo Pharmaceuticals Holdings, Inc. BH............ 2,956
152 eResearch Technology, Inc. B...................... 2,180
200 Exelixis, Inc. BH................................. 1,547
163 Human Genome Sciences, Inc. BH.................... 1,365
56 ICOS Corp. BH..................................... 1,515
65 Kyphon, Inc. BH................................... 2,608
93 Medicines Co. BH.................................. 1,588
70 Mentor Corp. ..................................... 3,140
68 Pharmaceutical Product Development, Inc. ......... 3,890
52 Respironics, Inc. B............................... 1,847
411 Rite Aid Corp. BH................................. 1,438
79 Salix Pharmaceuticals Ltd. BH..................... 1,418
50 Schwarz Pharma AG +H.............................. 2,894
161 Symbion, Inc. B................................... 3,646
76 Vertex Pharmaceuticals, Inc. BH................... 1,719
--------
52,203
--------
SERVICES -- 12.6%
98 Advisory Board Co. BH............................. 4,718
821 APN News & Media Ltd. +H.......................... 2,923
29 Bankrate, Inc. BH................................. 771
39 Central European Media Enterprises Ltd. BH........ 1,828
44 CheckFree Corp. B................................. 1,854
59 Corporate Executive Board Co. .................... 4,904
8 Corrections Corp. of America BH................... 324
171 DiamondCluster International, Inc. BH............. 1,101
238 Foundry Networks, Inc. B.......................... 2,833
41 Jacobs Engineering Group, Inc. B.................. 2,619
312 La Quinta Corp. BH................................ 2,601
77 Lamar Advertising Co. BH.......................... 3,457
19 Monster Worldwide, Inc. BH........................ 637
53 Red Robin Gourmet Burgers, Inc. BH................ 2,538
91 Stericycle, Inc. BH............................... 5,221
--------
38,329
--------
TECHNOLOGY -- 24.0%
135 American Tower Corp. Class A B.................... 3,218
163 AudioCodes Ltd. BH................................ 1,839
98 Checkpoint Systems, Inc. B........................ 2,346
82 Cognos, Inc. BH................................... 3,078
183 Crown Castle International Corp. BH............... 4,476
218 CSR plc +B........................................ 2,779
309 Entrust, Inc. BH.................................. 1,374
5 Equinix, Inc. B................................... 188
244 Evergreen Solar, Inc. H........................... 2,010
63 F5 Networks, Inc. BH.............................. 3,282
45 Hologic, Inc. BH.................................. 2,511
36 Itron, Inc. BH.................................... 1,546
36 Ituran Location and Control Ltd. BH............... 473
89 Microsemi Corp. B................................. 2,061
433 Opsware, Inc. BH.................................. 2,226
299 Red Hat, Inc. BH.................................. 6,931
246 Redback Networks, Inc. BH......................... 2,587
</Table>
The accompanying notes are an integral part of these financial statements.
181
THE HARTFORD SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
99 Salesforce.com, Inc. BH........................... $ 2,467
79 SiRF Technology Holdings, Inc. BH................. 2,036
107 SRA International, Inc. BH........................ 3,503
184 THQ, Inc. BH...................................... 4,260
38 TomTom N.V. +B.................................... 1,448
316 UbiquiTel, Inc. BH................................ 2,730
271 Verifone Holdings, Inc. BH........................ 6,298
93 Verint Systems, Inc. BH........................... 3,557
63 Websense, Inc. BH................................. 3,703
--------
72,927
--------
TRANSPORTATION -- 4.7%
64 Forward Air Corp. ................................ 2,279
107 GOL Linhas Aereas Inteligentes S.A. ADR H......... 3,696
782 Grupo Aeroportuario del Sureste S.A. de C.V. ..... 2,536
121 JetBlue Airways Corp. B........................... 2,257
134 Knight Transportation, Inc. ...................... 3,657
--------
14,425
--------
UTILITIES -- 0.6%
8 Q-Cells AG BM..................................... 406
28 Q-Cells AG B...................................... 1,543
--------
1,949
--------
Total common stock
(cost $243,987)................................. $294,988
--------
PREFERRED STOCKS -- 0.6%
UTILITIES -- 0.6%
39 NRG Energy, Inc. BH............................... $ 1,692
--------
Total preferred stocks
(cost $1,859)................................... $ 1,692
--------
Total long-term investments
(cost $245,846)................................. $296,680
========
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 30.4%
REPURCHASE AGREEMENTS -- 4.3%
$ 445 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 445
4,926 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 4,926
3,154 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 3,154
4,667 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 4,667
--------
13,192
--------
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 26.1%
78,943 Navigator Prime Portfolio......................... $ 78,943
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
$ 48 U.S. Treasury Bonds,
6.50%, 11/15/2026............................... 60
16 U.S. Treasury Bonds,
7.125%, 02/15/2023.............................. 20
233 U.S. Treasury Bonds,
7.50%, 11/15/2016............................... 298
--------
79,321
--------
Total short-term investments
(cost $92,513).................................. $ 92,513
--------
Total investments in securities
(cost $338,359) O............................... $389,193
========
</Table>
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 14.06% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $27,241, which represents 8.96% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $338,588 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $57,985
Unrealized depreciation......................... (7,380)
-------
Net unrealized appreciation..................... $50,605
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $1,711, which represents 0.56% of total net
assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
182
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- -------- --------------
Euro Sell $590 $598 11/01/2005 $ 8
Euro Sell 10 10 11/01/2005 @@
British Pound Buy 235 235 11/03/2005 @@
---
$ 8
===
</Table>
@@ Due to the presentation of the financial statements in thousands, the number
of shares and/or dollars rounds to zero.
The accompanying notes are an integral part of these financial statements.
183
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.1%
BASIC MATERIALS -- 4.7%
42 Carpenter Technology Corp. ....................... $ 2,557
15 Cascade Corp. .................................... 711
207 Century Aluminum Co. B............................ 3,765
16 Eagle Materials, Inc. ............................ 1,725
48 Longview Fibre Co. ............................... 910
36 Mueller Industries, Inc. ......................... 977
20 NS Group, Inc. B.................................. 675
29 Timken Co. ....................................... 831
128 Titan International, Inc. H....................... 2,275
--------
14,426
--------
CAPITAL GOODS -- 3.4%
28 Albany International Corp. Class A................ 1,089
25 Briggs & Stratton Corp. .......................... 793
35 CyberOptics Corp. B............................... 457
67 Graco, Inc. ...................................... 2,289
33 Lennox International, Inc. ....................... 926
35 Lone Star Technologies, Inc. B.................... 1,578
20 Nordson Corp. .................................... 755
29 Photronics, Inc. B................................ 524
99 Tempur-Pedic International, Inc. B................ 1,095
31 Toro Co. ......................................... 1,125
--------
10,631
--------
CONSUMER CYCLICAL -- 9.0%
50 CKE Restaurants, Inc. ............................ 630
51 Click Commerce, Inc. BH........................... 939
43 DSW, Inc. BH...................................... 904
95 Genesco, Inc. B................................... 3,503
34 IKON Office Solutions, Inc. ...................... 342
18 Jack in the Box, Inc. B........................... 526
67 JAKKS Pacific, Inc. BH............................ 1,235
27 Kenneth Cole Productions, Inc. Class A............ 672
21 K-Swiss, Inc. Class A............................. 633
23 McGrath Rentcorp.................................. 651
3 MWI Veterinary Supply, Inc. B..................... 56
54 Noble International Ltd. ......................... 1,259
30 Panera Bread Co. Class A B........................ 1,776
100 Skechers U.S.A., Inc. Class A B................... 1,261
135 Standard-Pacific Corp. ........................... 5,200
71 Stewart and Stevenson Services, Inc. ............. 1,689
67 Stride Rite Corp. ................................ 878
79 Talbots, Inc. .................................... 2,064
92 Timberland Co. Class A B.......................... 2,590
38 WCI Communities, Inc. B........................... 943
--------
27,751
--------
ENERGY -- 7.3%
47 Cabot Oil & Gas Corp. ............................ 2,154
17 Cheniere Energy, Inc. BH.......................... 633
57 Chesapeake Energy Corp. .......................... 1,814
98 Energy Partners Ltd. B............................ 2,494
104 Frontier Oil Corp. ............................... 3,824
54 Giant Industries, Inc. B.......................... 3,083
19 Houston Exploration Co. B......................... 964
159 Meridian Resource Corp. B......................... 719
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
ENERGY -- (CONTINUED)
189 PetroQuest Energy, Inc. B......................... $ 1,838
33 St. Mary Land & Exploration Co. .................. 1,105
32 Swift Energy Co. B................................ 1,375
13 Tesoro Corp. ..................................... 777
37 Vintage Petroleum, Inc. .......................... 1,941
--------
22,721
--------
FINANCE -- 10.3%
24 Aaron Rents, Inc. ................................ 469
50 Advanta Corp. Class B............................. 1,413
51 Affiliated Managers Group, Inc. B................. 3,907
91 American Capital Strategies Ltd. ................. 3,422
20 American Home Mortgage Investment Corp. .......... 549
98 Apsen Insurance Holdings Ltd. .................... 2,380
43 Arch Capital Group Ltd. B......................... 2,114
15 City Holding Co. ................................. 564
21 CompuCredit Corp. B............................... 907
49 Ditech Communications Corp. B..................... 309
32 First Community Bancorp........................... 1,630
29 Gold Banc Corporation, Inc. ...................... 434
128 IndyMac Bancorp, Inc. H........................... 4,774
20 Irwin Financial Corp. ............................ 419
21 James River Group, Inc. B......................... 399
32 Movie Gallery, Inc. H............................. 221
33 Platinum Underwriters Holdings Ltd. .............. 949
116 Rent-Way, Inc. B.................................. 714
234 Scottish Re Group Ltd. ........................... 5,754
13 Taylor Capital Group, Inc. ....................... 522
--------
31,850
--------
HEALTH CARE -- 19.6%
289 Abgenix, Inc. B................................... 3,007
152 Alkermes, Inc. B.................................. 2,483
38 Alliance Imaging, Inc. B.......................... 260
32 Amedisys, Inc. B.................................. 1,215
26 American Healthways, Inc. B....................... 1,042
72 American Retirement Corp. B....................... 1,366
153 Amylin Pharmaceuticals, Inc. BH................... 5,134
224 Applera Corp. -- Celera Genomics Group B.......... 2,661
56 Cantel Medical Corp. B............................ 1,078
147 Ciphergen Biosystems, Inc. B...................... 287
26 CNS, Inc. ........................................ 678
175 CV Therapeutics, Inc. B........................... 4,380
38 Diagnostic Products Corp. ........................ 1,604
40 DJ Orthopedics, Inc. B............................ 1,175
275 Encysive Pharmaceuticals, Inc. B.................. 2,884
302 Exelixis, Inc. B.................................. 2,338
27 Genesis HealthCare Corp. B........................ 1,104
76 Haemonetics Corp. B............................... 3,673
86 Human Genome Sciences, Inc. B..................... 714
113 Incyte Corp. B.................................... 565
39 Kos Pharmaceuticals, Inc. B....................... 2,358
81 Kosan Biosciences, Inc. B......................... 574
26 LifePoint Hospitals, Inc. B....................... 997
14 Longs Drug Stores Corp. .......................... 567
31 Mentor Corp. ..................................... 1,409
</Table>
The accompanying notes are an integral part of these financial statements.
184
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
264 NPS Pharmaceuticals, Inc. BH...................... $ 2,603
128 Nu Skin Enterprises, Inc. Class A................. 2,149
66 Onyx Pharmaceuticals, Inc. BH..................... 1,688
47 OSI Pharmaceuticals, Inc. B....................... 1,086
29 Pharmion Corp. B.................................. 542
193 Regeneron Pharmaceuticals, Inc. B................. 2,412
70 Salix Pharmaceuticals Ltd. B...................... 1,261
32 Sierra Health Services, Inc. B.................... 2,408
78 STERIS Corp. ..................................... 1,777
33 Surmodics, Inc. BH................................ 1,292
--------
60,771
--------
SERVICES -- 12.1%
54 Adesa, Inc. ...................................... 1,158
28 Advisory Board Co. B.............................. 1,351
35 Advo, Inc. ....................................... 863
67 Allscripts Healthcare Solutions, Inc. BH.......... 1,066
61 Ameristar Casinos, Inc. .......................... 1,303
208 BISYS Group, Inc. B............................... 2,631
55 Bluegreen Corp. B................................. 839
72 Central European Media Enterprises Ltd. B......... 3,338
36 Cerner Corp. BH................................... 3,023
38 Convergys Corp. B................................. 624
29 CPI Corp. ........................................ 513
187 Cumulus Media, Inc. Class A B..................... 2,275
478 Digital Generation Systems, Inc. B................ 268
92 Digital River, Inc. BH............................ 2,585
31 eFunds Corp. B.................................... 637
73 Epicor Software Corp. B........................... 899
42 Gevity HR, Inc. .................................. 1,079
108 Heidrick & Struggles International, Inc. B........ 3,473
82 Imergent, Inc. BH................................. 258
35 ITT Educational Services, Inc. B.................. 1,924
14 John H. Harland Co. .............................. 591
68 Journal Register Co. ............................. 1,090
72 Lin TV Corp. Class A B............................ 920
15 MAXIMUS, Inc. .................................... 540
23 MTS Systems Corp. ................................ 899
52 Playboy Enterprises Class B B..................... 780
54 Regent Communications, Inc. B..................... 274
40 WorldSpace, Inc. BH............................... 527
83 Wright Express Corp. B............................ 1,783
--------
37,511
--------
TECHNOLOGY -- 23.9%
132 Acxiom Corp. ..................................... 2,810
30 Altiris, Inc. B................................... 500
57 Blackbaud, Inc. .................................. 825
63 Cabot Microelectronics Corp. BH................... 1,846
27 Comtech Telecommunications Corp. B................ 1,024
159 Corillian Corp. B................................. 502
33 Cree, Inc. BH..................................... 803
226 CSG Systems International, Inc. B................. 5,311
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
TECHNOLOGY -- (CONTINUED)
66 Diodes, Inc. B.................................... $ 2,393
75 Emulex Corp. B.................................... 1,381
130 Fairchild Semiconductor International, Inc. B..... 2,008
138 FuelCell Energy, Inc. BH.......................... 1,212
75 General Communication, Inc. Class A B............. 718
13 Global Imaging Systems, Inc. B.................... 467
80 Hutchinson Technology, Inc. BH.................... 1,986
118 Hyperion Solutions Corp. B........................ 5,711
31 Infospace, Inc. B................................. 771
84 Innovative Solutions & Support, Inc. BH........... 1,200
201 Intervoice, Inc. B................................ 1,870
34 j2 Global Communications, Inc. BH................. 1,490
51 Komag, Inc. B..................................... 1,368
31 Kronos, Inc. B.................................... 1,435
32 Lojack Corp. B.................................... 616
98 MEMC Electronic Materials, Inc. B................. 1,760
89 Micrel, Inc. B.................................... 892
16 MicroStrategy, Inc. B............................. 1,106
23 Multi-Fineline Electronix, Inc. B................. 618
37 Novatel, Inc. B................................... 1,062
634 ON Semiconductor Corp. B.......................... 2,942
87 Perot Systems Corp. Class A B..................... 1,200
297 Premiere Global Services, Inc. B.................. 2,517
31 QAD, Inc. ........................................ 247
104 Radyne Corp. B.................................... 1,216
113 Serena Software, Inc. B........................... 2,467
80 Sigmatel, Inc. B.................................. 1,090
39 Sybase, Inc. B.................................... 866
117 Take-Two Interactive Software, Inc. BH............ 2,412
225 THQ, Inc. B....................................... 5,222
48 Transaction Systems Architects, Inc. B............ 1,286
213 Trizetto Group, Inc. BH........................... 3,015
148 UbiquiTel, Inc. B................................. 1,275
196 United Online, Inc. .............................. 2,632
29 Varian Semiconductor Equipment Associates, Inc.
B............................................... 1,108
48 WebEx Communications, Inc. B...................... 1,091
--------
74,271
--------
TRANSPORTATION -- 5.2%
77 Arkansas Best Corp. .............................. 2,969
38 General Maritime Corp. H.......................... 1,421
74 Knight Transportation, Inc. ...................... 2,013
162 Werner Enterprises, Inc. ......................... 2,898
106 World Air Holdings, Inc. B........................ 1,110
126 Yellow Roadway Corp. B............................ 5,722
--------
16,133
--------
UTILITIES -- 0.6%
155 Sierra Pacific Resources B........................ 2,002
--------
Total common stock
(cost $277,580)................................. $298,067
--------
</Table>
The accompanying notes are an integral part of these financial statements.
185
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 13.3%
REPURCHASE AGREEMENT -- 3.1%
$ 9,750 Deutsche Bank Repurchase Agreement,
3.93%, 11/01/2005............................... $ 9,750
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITIES LENDING -- 10.1%
31,220 BNY Institutional Cash Reserve Fund............... $ 31,220
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
US TREASURY BILL -- 0.1%
$ 200 US Treasury Bill,
3.53%, 12/29/2005 Z[ ].......................... $ 199
--------
Total short-term investments
(cost $41,169).................................. $ 41,169
--------
Total investments in securities
(cost $318,749) O............................... $339,236
========
</Table>
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 1.11% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $319,625 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 40,443
Unrealized depreciation........................ (20,832)
--------
Net unrealized appreciation.................... $ 19,611
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
[ ] Security pledged as initial margin deposit for open futures contracts
at October 31, 2005.
FUTURES CONTRACTS OUTSTANDING AS OF OCTOBER 31, 2005.
<Table>
<Caption>
UNREALIZED
APPRECIATION
NUMBER OF (DEPRECIATION)
DESCRIPTION CONTRACTS POSITION EXPIRATION AT 10/31/2005
----------- --------- -------- ------------- --------------
Russell Mini Futures 70 Long December 2005 $(88)
====
</Table>
These contracts had a market value of $4,544 as of
October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
186
THE HARTFORD STOCK FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 99.9%
BASIC MATERIALS -- 5.2%
219 3M Co. ........................................... $ 16,617
248 BHP Billiton Ltd. ADR............................. 7,685
392 Dow Chemical Co. ................................. 17,954
69 DuPont (E.I.) de Nemours & Co. ................... 2,885
129 Peabody Energy Corp. ............................. 10,067
332 Rio Tinto plc +................................... 12,641
----------
67,849
----------
CAPITAL GOODS -- 5.6%
224 Boeing Co. ....................................... 14,466
470 Caterpillar, Inc. ................................ 24,702
102 Goodrich Corp. ................................... 3,679
80 Illinois Tool Works, Inc. ........................ 6,781
167 Ingersoll-Rand Co. Class A........................ 6,296
336 United Technologies Corp. ........................ 17,214
----------
73,138
----------
CONSUMER CYCLICAL -- 10.4%
139 Best Buy Co., Inc. H.............................. 6,139
413 Carnival Corp. ................................... 20,529
111 Costco Wholesale Corp. H.......................... 5,373
710 Dollar General Corp. ............................. 13,797
306 Federated Department Stores, Inc. ................ 18,773
804 Gap, Inc. H....................................... 13,884
613 Home Depot, Inc. H................................ 25,170
185 Pulte Homes, Inc. ................................ 6,991
513 Toyota Motor Corp. +.............................. 23,797
----------
134,453
----------
CONSUMER STAPLES -- 5.7%
340 Archer Daniels Midland Co. ....................... 8,293
307 Coca-Cola Co. .................................... 13,112
443 PepsiCo, Inc. .................................... 26,184
463 Procter & Gamble Co. ............................. 25,912
----------
73,501
----------
ENERGY -- 7.3%
88 Chevron Corp. .................................... 5,024
248 ConocoPhillips.................................... 16,240
520 Exxon Mobil Corp. ................................ 29,204
160 GlobalSantaFe Corp. .............................. 7,137
71 Occidental Petroleum Corp. H...................... 5,569
71 Schlumberger Ltd. ................................ 6,408
91 Total S.A. ADR H.................................. 11,405
266 Williams Cos., Inc. .............................. 5,938
164 XTO Energy, Inc. ................................. 7,119
----------
94,044
----------
FINANCE -- 20.7%
647 American International Group, Inc. ............... 41,916
598 Bank of America Corp. H........................... 26,174
688 Citigroup, Inc. .................................. 31,492
26 Countrywide Financial Corp. ...................... 826
169 Credit Suisse Group ADR........................... 7,480
261 Federal National Mortgage Association............. 12,388
109 General Growth Properties, Inc. .................. 4,631
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
107 Goldman Sachs Group, Inc. ........................ $ 13,458
893 MBNA Corp. ....................................... 22,834
1 Mitsubishi UFJ Financial Group, Inc. +............ 16,050
54 ORIX Corp. +...................................... 10,200
585 St. Paul Travelers Cos., Inc. .................... 26,342
396 State Street Corp. ............................... 21,860
152 UBS AG H.......................................... 13,022
2,593 UniCredito Italiano S.p.A. +...................... 14,481
24 Washington Mutual, Inc. .......................... 942
43 Wellpoint, Inc. B................................. 3,174
----------
267,270
----------
HEALTH CARE -- 12.5%
360 Abbott Laboratories............................... 15,502
244 Amgen, Inc. B..................................... 18,516
109 AstraZeneca plc +................................. 4,879
129 AstraZeneca plc ADR H............................. 5,770
146 Cardinal Health, Inc. ............................ 9,139
99 Forest Laboratories, Inc. B....................... 3,761
58 Genzyme Corp. B................................... 4,172
613 Lilly (Eli) & Co. ................................ 30,496
452 Medtronic, Inc. .................................. 25,610
289 Quest Diagnostics, Inc. .......................... 13,485
31 Roche Holding AG +................................ 4,688
307 Sanofi-Aventis S.A. ADR........................... 12,321
681 Schering-Plough Corp. ............................ 13,854
----------
162,193
----------
SERVICES -- 4.7%
606 Accenture Ltd. Class A............................ 15,954
111 Comcast Corp. Class A BH.......................... 3,095
266 Univision Communications, Inc. Class A BH......... 6,956
413 Viacom, Inc. Class B.............................. 12,775
378 Walt Disney Co. .................................. 9,222
438 XM Satellite Radio Holdings, Inc. Class A BH...... 12,616
----------
60,618
----------
TECHNOLOGY -- 26.3%
792 Applied Materials, Inc. .......................... 12,978
956 AT&T Corp. H...................................... 18,916
1,853 Cisco Systems, Inc. B............................. 32,340
371 Corning, Inc. B................................... 7,459
304 EMC Corp. B....................................... 4,238
571 First Data Corp. ................................. 23,089
971 Flextronics International Ltd. B.................. 9,016
1,242 General Electric Co. ............................. 42,113
428 Hewlett-Packard Co. .............................. 11,996
185 Intel Corp. ...................................... 4,355
140 International Business Machines Corp. ............ 11,463
82 KLA-Tencor Corp. ................................. 3,810
218 Lexmark International, Inc. ADR B................. 9,051
1,939 Microsoft Corp. .................................. 49,835
154 Motorola, Inc. ................................... 3,406
47 Samsung Electronics Co., Ltd. +................... 25,108
198 Sony Corp. +...................................... 6,482
1,056 Sprint Nextel Corp. .............................. 24,613
</Table>
The accompanying notes are an integral part of these financial statements.
187
THE HARTFORD STOCK FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1,557 Time Warner, Inc. ................................ $ 27,763
356 Yahoo!, Inc. BH................................... 13,143
----------
341,174
----------
TRANSPORTATION -- 0.5%
432 Southwest Airlines Co. ........................... 6,916
----------
UTILITIES -- 1.0%
252 Exelon Corp. ..................................... 13,106
----------
Total common stock
(cost $1,207,033)............................... $1,294,262
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.9%
REPURCHASE AGREEMENTS -- 0.2%
$ 93 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 93
1,035 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,035
663 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... 663
981 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 981
----------
2,772
----------
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM
SECURITY LENDING -- 7.7%
99,899 BNY Institutional Cash Reserve Fund............... $ 99,899
----------
Total short-term investments
(cost $102,671)................................. $ 102,671
----------
Total investments in securities (cost $1,309,704)
O............................................... $1,396,933
==========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets. Market value of investments in foreign securities
represents 13.70% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $118,326, which represents 9.13% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $1,332,765 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 96,419
Unrealized depreciation........................ (32,251)
--------
Net unrealized appreciation.................... $ 64,168
========
</Table>
B Currently non-income producing.
H Security is fully or partially on loan at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
----------- ----------- ------ -------- ---------- --------------
Japanese Yen Sell $917 $926 11/01/2005 $9
==
</Table>
The accompanying notes are an integral part of these financial statements.
188
THE HARTFORD TARGET RETIREMENT 2010 FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 90.2%
EQUITY FUNDS -- 51.2%
@@ Hartford Capital Appreciation Fund, Class Y B..... $ 3
@@ Hartford Disciplined Equity Fund, Class Y......... 4
@@ Hartford Growth Fund, Class Y B................... 1
@@ Hartford Growth Opportunities Fund, Class Y B..... 1
@@ Hartford International Capital Appreciation Fund,
Class Y B....................................... 1
@@ Hartford International Opportunities Fund, Class Y
B............................................... 2
@@ Hartford MidCap Value Fund, Class Y............... 1
@@ Hartford Select Midcap Growth Fund, Class Y B..... 1
@@ Hartford Small Company Fund, Class Y B............ 1
@@ Hartford SmallCap Growth Fund, Class Y B.......... 2
@@ Hartford Value Fund, Class Y...................... 1
@@ Hartford Value Opportunities Fund, Class Y B...... 3
---
Total equity funds
(cost $21)...................................... $21
---
FIXED INCOME FUNDS -- 39.0%
@@ Hartford High Yield Fund, Class Y................. 1
@@ Hartford Inflation Plus Fund, Class Y............. 5
@@ Hartford Short Duration Fund, Class Y............. 5
@@ Hartford Total Return Bond Fund, Class Y.......... 5
---
Total fixed income funds
(cost $17)...................................... $16
---
Total investments in affiliated
investment companies
(cost $38) O.................................... $37
===
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $38 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................. $@@
Unrealized depreciation............................. (1)
---
Net unrealized depreciation......................... $(1)
===
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
189
THE HARTFORD TARGET RETIREMENT 2020 FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 75.3%
EQUITY FUNDS -- 49.4%
@@ Hartford Capital Appreciation Fund, Class Y B..... $ 13
1 Hartford Disciplined Equity Fund, Class Y......... 16
@@ Hartford Growth Fund, Class Y B................... 5
@@ Hartford Growth Opportunities Fund, Class Y B..... 4
@@ Hartford International Capital Appreciation Fund,
Class Y B....................................... 4
@@ Hartford International Opportunities Fund, Class Y
B............................................... 4
@@ Hartford International Small Company Fund, Class
Y............................................... 3
@@ Hartford MidCap Value Fund, Class Y............... 4
@@ Hartford Select Midcap Growth Fund, Class Y B..... 4
@@ Hartford Small Company Fund, Class Y B............ 4
@@ Hartford SmallCap Growth Fund, Class Y B.......... 7
@@ Hartford Value Fund, Class Y...................... 5
1 Hartford Value Opportunities Fund, Class Y B...... 13
----
Total equity funds
(cost $84)...................................... $ 86
----
FIXED INCOME FUNDS -- 25.9%
1 Hartford Floating Rate Fund, Class Y.............. 6
@@ Hartford High Yield Fund, Class Y................. 3
1 Hartford Inflation Plus Fund, Class Y............. 12
1 Hartford Short Duration Fund, Class Y............. 10
1 Hartford Total Return Bond Fund, Class Y.......... 14
----
Total fixed income funds
(cost $46)...................................... $ 45
----
Total investments in affiliated
investment companies
(cost $130) O................................... $131
====
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $130 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................. $ 1
Unrealized depreciation............................. --
-----
Net unrealized appreciation......................... $ 1
=====
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
190
THE HARTFORD TARGET RETIREMENT 2030 FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 89.7%
EQUITY FUNDS -- 71.8%
@@ Hartford Capital Appreciation Fund, Class Y B..... $ 4
@@ Hartford Disciplined Equity Fund, Class Y......... 5
@@ Hartford Growth Fund, Class Y B................... 2
@@ Hartford Growth Opportunities Fund, Class Y B..... 1
@@ Hartford International Capital Appreciation Fund,
Class Y B....................................... 2
@@ Hartford International Opportunities Fund, Class
Y............................................... 1
@@ Hartford International Small Company Fund, Class Y
B............................................... 1
@@ Hartford MidCap Value Fund, Class Y............... 1
@@ Hartford Select Midcap Growth Fund, Class Y B..... 1
@@ Hartford Small Company Fund, Class Y B............ 2
@@ Hartford SmallCap Growth Fund, Class Y B.......... 3
@@ Hartford Value Fund, Class Y...................... 1
@@ Hartford Value Opportunities Fund, Class Y B...... 4
---
Total equity funds
(cost $29)...................................... $28
---
FIXED INCOME FUNDS -- 17.9%
@@ Hartford Inflation Plus Fund, Class Y............. $ 3
@@ Hartford Short Duration Fund, Class Y............. 1
@@ Hartford Total Return Bond Fund, Class Y.......... 3
---
Total fixed income funds
(cost $7)....................................... $ 7
---
Total investments in affiliated
investment companies
(cost $36) O.................................... $35
===
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $36 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................. $@@
Unrealized depreciation............................. (1)
---
Net unrealized depreciation......................... $(1)
===
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
@@ Due to the presentation of the financial statements in thousands,
the number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
191
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 94.0%
GENERAL OBLIGATIONS -- 21.3%
$ 100 Azusa, CA,
5.75%, Special Tax Comm Fac Dist #1 Mountain
Cove GO
09/01/2021...................................... $ 101
50 Beaumont, CA,
7.25%, FA Rev GO
09/01/2020...................................... 53
500 California Infrastructure & Econ Dev,
5.00%, Bay Area Toll Bridges GO FSA
07/01/2022...................................... 522
900 California Kindergarten University,
2.69%, 05/01/2034 K............................. 900
400 Contra Costa County, CA,
5.625%, Public FA Tax Alloc Rev GO 08/01/2033... 412
200 Elk Grove, CA,
5.85%, Special Tax East Franklin Comm #02-1 GO
08/01/2036...................................... 213
57 Indio, CA,
6.35%, Public Improvement Act 1915 Special
Assess #2002-3 GO 09/02/2027.................... 59
300 Oceanside, CA,
5.70%, Comm Dev GO 09/01/2025................... 312
100 Perris, CA,
6.25%, Public FA Local Agency Rev GO
09/01/2033...................................... 107
250 Puerto Rico Commonwealth,
5.00%, Ref GO 07/01/2030........................ 261
300 Puerto Rico Commonwealth,
5.25%, Public Improvement GO 07/01/2019......... 317
200 Roseville, CA,
5.25%, Special Tax CFD#1 09/01/2025............. 202
425 Solano, CA,
5.25%, GO MBIA 11/01/2021....................... 453
110 University Virgin Islands,
5.00%, GO 12/01/2021............................ 111
-------
4,023
-------
HEALTH CARE/SERVICES -- 8.0%
200 California ABAG FA for Non-Profit Corp,
5.375%, San Diego Hospital Association
03/01/2021...................................... 207
250 California Health Fac FA,
5.25%, Catholic Healthcare West 07/01/2023...... 259
300 California Public Works Board,
5.00% Dept of Health Services Richmond Lab
11/01/2030...................................... 305
200 California Public Works Board,
5.375%, Dept of Mental Health Patton
04/01/2028...................................... 210
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HEALTH CARE/SERVICES -- (CONTINUED)
$ 250 California State Comm Dev Auth,
5.25%, Daughter of Charity Health 07/01/2030.... $ 254
250 California State Comm Dev Auth,
6.00%, Health Fac Memorial Health Services Rev
10/01/2023...................................... 274
-------
1,509
-------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 14.5%
455 California Educational Fac Auth,
5.00%, 10/01/2025............................... 455
630 California Educational Fac Auth,
5.00%, 04/01/2030............................... 634
180 California Educational Fac Auth,
5.00%, La Verne Univ 06/01/2031 I............... 178
175 California State Comm DA,
4.875%, 10/01/2035.............................. 168
250 California State Comm DA,
6.75%, John F. Kennedy Univ Rev 10/01/2033...... 261
1,000 California State Univ Rev,
5.00%, 11/01/2028............................... 1,034
-------
2,730
-------
HOUSING (HFA'S, ETC.) -- 3.4%
650 California State Econ Recovery,
2.73%, 01/01/2012 K............................. 650
-------
LAND DEVELOPMENT -- 8.3%
350 Burbank, CA,
5.50%, FA Rev South San Fernando Redev Proj B
12/01/2023...................................... 359
400 Fontana, CA,
5.50%, Redev Agency Tax Allocation Ref Jurupa
Hills Redev Proj 10/01/2027..................... 411
250 Oakland, CA,
5.25%, Redev Agency Colliseum Area Redev Tax
Allocation 09/01/2033........................... 254
200 San Diego, CA,
5.25%, Redev Agency Centre City Sub Pkg
09/01/2026...................................... 203
175 San Diego, CA,
5.30%, Redev Agency Tax Allocation North Park
Redev Proj 09/01/2016........................... 179
150 San Diego, CA,
5.60%, Redev Agency Tax Allocation North Bay
Redev Proj 09/01/2017........................... 156
-------
1,562
-------
MISCELLANEOUS -- 16.2%
200 California Kings River Conservation Dist,
5.00%, Rev Ref Partner Peaking Project
05/01/2013...................................... 209
400 Huntington Park, CA,
5.25%, Public FA Rev Ref 09/01/2019............. 436
</Table>
The accompanying notes are an integral part of these financial statements.
192
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
MISCELLANEOUS -- (CONTINUED)
$ 135 Indio, CA,
5.00%, Public FA Rev Local Agency 09/02/2014.... $ 135
1,000 Kern County, CA,
6.00%, California Tobacco Securitization Agency
06/01/2029...................................... 1,070
250 Lake Elsinore, CA,
5.15%, Comm Fac Dist #3 -- Area #1 Special Tax
09/01/2025...................................... 248
100 Lake Elsinore, CA,
5.85%, Comm Fac Dist #2-A Special Tax
Improvement 09/01/2024.......................... 103
310 Long Beach, CA,
5.00%, Harbor Rev Ref 05/15/2015................ 327
250 Sacramento, CA,
5.00%, North Natomas Comm Fac 09/01/2025........ 247
250 Virgin Islands Public FA,
6.125%, Refinery Fac Rev Hovenska Refinery
07/01/2022...................................... 269
-------
3,044
-------
POLLUTION CONTROL -- 1.3%
250 California PCR,
3.50%, Pacific Gas & Elec 12/01/2023............ 251
-------
PUBLIC FACILITIES -- 7.8%
250 California Public Works Board,
5.00%, Dept of Corrections Ref 12/01/2018....... 263
100 Capistrano, CA,
5.875%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2022............................... 104
100 Jurupa, CA,
5.875%, Comm Services Dist #6 Special Tax
09/01/2032...................................... 102
110 Moreno Valley, CA,
5.60%, USD Comm Fac Special Tax #2002-1
09/01/2017...................................... 112
100 Orange County, CA,
5.20%, Comm Fac Dist Special Tax #02-1 Ladera
Ranch 08/15/2019................................ 102
200 Orange County, CA,
5.40%, Comm Fac Dist Special Tax #02-1 Ladera
Ranch 08/15/2022................................ 203
250 Tustin, CA,
5.60%, USD Comm Fac Dist Special Tax #97 Jr Lien
09/01/2029...................................... 251
200 Val Verde, CA,
6.00%, USD FA Special Tax Rev Jr Lien
10/01/2021...................................... 206
125 William S. Hart USD,
5.85%, Comm Fac Dist #2002-1 Special Tax
09/01/2022...................................... 126
-------
1,469
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
UTILITIES -- COMBINED -- 1.5%
$ 250 California State Water Dept,
5.875%, Res Power Supply Rev 05/01/2016......... $ 277
-------
UTILITIES -- GAS -- 1.7%
300 Chula Vista, CA,
5.30%, IDR Daily San Diego Gas 07/01/2021....... 317
-------
UTILITIES -- WATER AND SEWER -- 7.9%
500 Atwater, CA,
5.50%, Public FA Sewer & Water Project
05/01/2028...................................... 507
250 Big Bear Muni Water Dist,
5.00%, 1991 Ref Lake Imports 11/01/2024......... 247
100 Eastern California Muni Water Dist,
5.70%, Improvement Area A #2001-2 Comm Fac
Special Tax 09/01/2018.......................... 101
250 Lathrop, CA,
6.00%, FA Rev Water Supply Proj 06/01/2035...... 263
150 Lee Lake, CA,
5.75%, Water Dist Comm Fac Dist #3 Special Tax
Retreat 09/01/2023.............................. 155
200 Santa Margarita, CA,
6.00%, Water Dist #99-1 Special Tax Comm Fac
09/01/2030...................................... 210
-------
1,483
-------
WASTE DISPOSAL -- 2.1%
375 Stockton, CA,
5.20%, Wastewater Sys Proj MBIA 09/01/2029...... 392
-------
Total municipal bonds
(cost $17,326).................................. $17,707
-------
</Table>
<Table>
<Caption>
SHARES
- ---------
SHORT-TERM INVESTMENTS -- 3.7%
FINANCE -- 3.7%
$ 689 Dreyfus Basic California Municipal Money Market
Fund, current rate -- 2.22% K................... $ 689
-------
Total short-term investments
(cost $689)..................................... $ 689
-------
Total investments in securities
(cost $18,015) O................................ $18,396
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $18,015 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $440
Unrealized depreciation............................ (59)
----
Net unrealized appreciation........................ $381
====
</Table>
The accompanying notes are an integral part of these financial statements.
193
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
I The cost of securities purchased on a when-issued basis at
October 31, 2005 was $178.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
<Table>
AMT -- Alternative Minimum Tax
DA -- Development Authority
FA -- Finance Authority
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
GO -- General Obligations
IDA -- Industrial Development Authority Bond
IDR -- Industrial Development Revenue Bond
ISD -- Independent School District
MBIA -- Municipal Bond Insurance Association
PA -- Port Authority
PCR -- Pollution Control Revenue Bond
USD -- United School District
</Table>
The accompanying notes are an integral part of these financial statements.
194
THE HARTFORD TAX-FREE MINNESOTA FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 96.7%
AIRPORT REVENUES -- 4.4%
$ 500 Minneapolis & St Paul, MN,
5.00%, Airport Commission 01/01/2035............ $ 511
1,000 Minneapolis & St. Paul, MN,
5.625%, Airport Commission FGIC AMT
01/01/2018...................................... 1,060
-------
1,571
-------
GENERAL OBLIGATIONS -- 21.0%
1,000 Anoka-Hennepin County, MN,
5.00%, ISD #11 GO Credit Enhancement Prog
02/01/2015...................................... 1,048
1,300 Becker, MN,
6.00%, ISD #726 GO FSA 02/01/2017............... 1,421
500 Brainerd, MN,
5.375%, ISD #181 GO FGIC 02/01/2016............. 543
250 Minneapolis, MN,
5.00%, Parking Assess GO 12/01/2020............. 264
1,000 Minnesota,
5.25%, GO 08/01/2016............................ 1,065
785 Mounds View, MN,
5.25%, ISD #621 GO 02/01/2014................... 841
1,000 Puerto Rico Commonwealth Public Fin Corp Approp,
5.75%, GO 08/01/2027............................ 1,083
1,950 Rosemount, MN,
5.70%, ISD #196 GO MBIA 04/01/2015 Z............ 1,295
-------
7,560
-------
HEALTH CARE/SERVICES -- 15.9%
1,130 Duluth, MN,
5.50%, Econ DA Health Care Fac Rev Benedictine
Health Sys St Mary 02/15/2023................... 1,190
250 Minneapolis, MN,
6.00%, Health Care System AllinaHealth
11/15/2018...................................... 276
1,000 Minnesota Agriculture and Econ Dev Healthcare Fac,
5.25%, Benedictine Health 02/15/2014............ 1,064
335 St. Paul, MN,
6.00%, Housing & Redev Auth Hospital Rev
11/15/2025...................................... 360
750 Stillwater, MN,
5.00%, Health System Obligation Group
06/01/2035...................................... 730
725 Todd, Morrison, Cass, & Wadena County, MN,
5.25%, United Hospital Lakewood Health Care Fac
12/01/2026...................................... 753
1,000 Waconia, MN,
6.10%, Health Care Fac Rev Ridgeview Med Ctr
Proj 01/01/2019................................. 1,084
250 Willmar, MN,
5.00%, Rice Memorial Hospital Proj FSA
02/01/2025...................................... 260
-------
5,717
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 14.8%
$ 500 Minnesota Higher Ed FA,
5.00%, Augsburg College 05/01/2020.............. $ 511
500 Minnesota Higher Ed FA,
5.00%, Augsburg College 05/01/2023.............. 507
350 Minnesota Higher Ed FA,
5.25%, College of St Benedict 03/01/2024........ 361
1,000 Minnesota Higher Ed FA,
5.375%, GO Univ of St Thomas 04/01/2018......... 1,038
1,000 Minnesota Higher Ed FA,
5.40%, GO Univ of St Thomas 04/01/2023.......... 1,027
120 University of Minnesota,
2.81%, GO 01/01/2034 K.......................... 120
80 University of Minnesota,
2.81%, GO 07/01/2008 K.......................... 80
1,000 University of Minnesota,
5.75%, GO 07/01/2018............................ 1,148
270 University Virgin Islands,
5.125%, GO 12/01/2022........................... 275
100 University Virgin Islands,
5.25%, GO 12/01/2023............................ 103
125 University Virgin Islands,
5.25%, GO 12/01/2024............................ 128
-------
5,298
-------
HOUSING (HFA'S, ETC.) -- 10.6%
695 Minneapolis, MN,
6.00%, Redev Mtg Rev Riverplace Proj
01/01/2020...................................... 695
750 Minnesota Residential Housing Fin Agency,
2.90%, 05/18/2006............................... 748
885 Minnesota Residential Housing Fin Agency,
5.00%, 01/01/2020............................... 894
450 St Paul, MN,
6.25%, Housing Redev Hope Comm Academy Proj
12/01/2019...................................... 454
1,000 Washington County, MN,
4.60%, Housing and Redev Auth Gov Rev Ref
Woodland Park Apartments 04/01/2022............. 1,001
-------
3,792
-------
MISCELLANEOUS -- 11.2%
1,030 Children's Trust Fund,
5.50%, Puerto Rico Tobacco Settlement Rev
05/15/2039...................................... 1,060
1,000 Golden Valley, MN,
5.875%, Breck School Proj Rev 10/01/2019........ 1,070
250 Ramsey, MN,
6.50%, Lease Rev Pact Charter School Proj
12/01/2022...................................... 251
500 St Paul, MN,
5.00%, PA Lease Rev 12/01/2019.................. 523
</Table>
The accompanying notes are an integral part of these financial statements.
195
THE HARTFORD TAX-FREE MINNESOTA FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
MISCELLANEOUS -- (CONTINUED)
$ 300 St Paul, MN,
6.75%, Redev Auth Rev Ref Achieve Language
Academy 12/01/2022.............................. $ 305
750 Virgin Islands Public FA,
6.125%, Refinery Fac Rev Hovenska Refinery
07/01/2022...................................... 808
-------
4,017
-------
POLLUTION CONTROL -- 1.4%
500 Cohasset, MN,
4.95%, Pollution Control Rev Ref Coll-Allete
Inc. Proj 07/01/2022............................ 502
-------
PUBLIC FACILITIES -- 2.4%
835 Minnesota Agricultural Society,
5.125%, State Fair Rev 09/15/2023............... 844
-------
TRANSPORTATION -- 5.2%
750 Duluth, MN,
4.20%, Seaway PA IDA Dock & Wharf Rev Ref
Cargill Inc. Proj 05/01/2013.................... 743
1,000 Puerto Rico Commonwealth Highway & Transportation
Auth,
5.50%, Rev Ref FSA 07/01/2013................... 1,114
-------
1,857
-------
UTILITIES -- COMBINED -- 0.8%
300 Princeton, MN,
5.00%, Public Utility Sys Rev 04/01/2024........ 303
-------
UTILITIES -- ELECTRIC -- 4.4%
500 Chaska, MN,
5.00%, Electric Rev 10/01/2030.................. 507
500 Minnesota Power Agency,
5.25%, Electric Rev 10/01/2019.................. 535
500 Northern Minnesota Muni Power Agency,
5.30%, Electric Rev FSA 01/01/2021.............. 527
-------
1,569
-------
UTILITIES -- WATER AND SEWER -- 4.6%
500 Minneapolis, MN,
4.75%, Metro Council Water Treatment
12/01/2016...................................... 527
1,000 Puerto Rico Commonwealth Aqueduct & Sewer Auth
Rev,
6.25%, 07/01/2013............................... 1,135
-------
1,662
-------
Total municipal bonds
(cost $33,349).................................. $34,692
-------
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
SHORT-TERM INVESTMENTS -- 1.8%
FINANCE -- 1.8%
$ 635 State Street Bank Tax Free Money Market, current
rate -- 2.21% K................................. $ 635
-------
Total short-term investments
(cost $635)..................................... $ 635
-------
Total investments in securities
(cost $33,984) O................................ $35,327
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $33,984 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $1,442
Unrealized depreciation.......................... (99)
------
Net unrealized appreciation...................... $1,343
======
</Table>
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
<Table>
AMT -- Alternative Minimum Tax
DA -- Development Authority
FA -- Finance Authority
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
GO -- General Obligations
IDA -- Industrial Development Authority Bond
IDR -- Industrial Development Revenue Bond
ISD -- Independent School District
MBIA -- Municipal Bond Insurance Association
PA -- Port Authority
PCR -- Pollution Control Revenue Bond
USD -- United School District
</Table>
The accompanying notes are an integral part of these financial statements.
196
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- 95.2%
ALABAMA -- 1.9%
$1,855 Huntsville, AL,
5.25%, GO 05/01/2022............................ $ 1,999
--------
ARIZONA -- 5.4%
560 Arizona Sundance Comm Fac Dist,
5.125%, 07/15/2030.............................. 557
467 Arizona Sundance Comm Fac Dist,
7.125%, Special Assess Rev #2 07/01/2027........ 497
1,800 Phoenix, AZ,
6.25%, GO 07/01/2017............................ 2,152
1,000 Pima County, AZ,
5.60%, Noah Webster Basic School 12/15/2019..... 990
1,100 Pima County, AZ,
5.75%, Charter Schools Proj 07/01/2016.......... 1,103
200 Vistancia, AZ,
6.75%, Comm Fac Dist GO 07/15/2022.............. 212
--------
5,511
--------
CALIFORNIA -- 14.0%
820 California Educ Fac Auth,
5.00%, La Verne Univ 06/01/2031 I............... 812
350 California State Comm DA,
4.875%, 10/01/2031.............................. 338
325 California State Comm DA,
4.875%, 10/01/2035.............................. 312
750 California State Comm DA,
5.25%, Daughter of Charity Health 07/01/2030.... 760
1,000 California State Public Works Board,
5.25%, 06/01/2030............................... 1,037
80 California State Water Dept,
5.50%, Residential Dev 12/01/2010............... 88
750 California State Water Dept,
5.875%, Residential Power Supply Rev
05/01/2016...................................... 831
500 California,
6.75%, GO 08/01/2011............................ 576
250 Capistrano, CA,
5.875%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2021............................... 260
250 Capistrano, CA,
5.90%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2020............................... 261
95 Eastern California Muni Water Dist,
5.70%, Improvement Area
A #2001-2 Comm Fac Special Tax 09/01/2018....... 96
625 Indio, CA,
5.625%, Public FA Rev Local Agency 09/02/2018... 632
38 Indio, CA,
6.35%, Public Improvement Act 1915 Special
Assess #2002-3 GO 09/02/2027.................... 39
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CALIFORNIA -- (CONTINUED)
$ 400 Jurupa, CA,
5.875%, Comm Services Dist #6 Special Tax
09/01/2032...................................... $ 408
750 Lathrop, CA,
6.00%, FA Rev Water Supply Proj 06/01/2035...... 788
500 Moreno Valley, CA,
6.00%, USD Comm Fac Dist Special Tax #2002-1
09/01/2022...................................... 514
700 Oceanside, CA,
5.70%, Comm Dev GO 09/01/2025................... 727
535 Palm Springs, CA,
5.50%, Comm Redev Agency 09/01/2023............. 553
495 Perris, CA,
6.25%, Public FA Local Agency Rev GO
09/01/2033...................................... 529
1,000 Pomona, CA,
5.50%, Public FA Rev Sub/Merged Redev
02/01/2023...................................... 1,022
320 Sacramento, CA,
5.00%, North Natomas Comm Fac 09/01/2025........ 316
500 San Diego, CA,
5.25%, Redev Agency Centre City Sub Pkg
09/01/2026...................................... 507
1,000 San Francisco, CA,
2.58%, Bay Area Toll Auth 04/01/2039 K.......... 1,000
1,000 San Manuel, CA,
4.50%, Entertainment Auth Public Improvement
12/01/2016 M.................................... 985
800 Val Verde, CA,
6.00%, USD FA Special Tax Rev Jr Lien
10/01/2021...................................... 822
--------
14,213
--------
COLORADO -- 1.0%
1,000 Woodmen Heights, CO,
6.75%, Metered Dist #1 Rev 12/01/2020........... 1,005
--------
FLORIDA -- 4.9%
1,000 Bellalgo, FL,
5.85%, Educ Fac Benefits Dist Capital
Improvement Rev 05/01/2022...................... 1,018
1,000 Collier County, FL,
5.375%, School Board Cert of Participation FSA
02/15/2020...................................... 1,093
490 Colonial Country Club Comm Dev Dist,
6.40%, Capital Improvement Rev 05/01/2033....... 514
1,250 Florida Dept of Environmental Protection
Preservation,
5.375%, MBIA 07/01/2015......................... 1,361
</Table>
The accompanying notes are an integral part of these financial statements.
197
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
FLORIDA -- (CONTINUED)
$ 285 Gateway Services,
5.50%, Comm Dev Dist of FL Special Assessment
Sun City Center Fort Meyers Proj 05/01/2010..... $ 288
750 Hollywood, FL,
5.125%, Comm Redev Agency 03/01/2014............ 758
--------
5,032
--------
GEORGIA -- 5.1%
750 Augusta, GA,
5.15%, Airport Rev Passenger Fac Charge
01/01/2035...................................... 745
1,105 Fulton County, GA,
5.375%, School Dist GO 01/01/2018............... 1,232
35 Fulton County, GA,
6.375%, Water & Sewer Rev FGIC 01/01/2014....... 40
1,765 Fulton County, GA,
6.375%, Water & Sewer Rev FGIC Part Prere
01/01/2014...................................... 2,004
15 Georgia Muni Electric Auth,
6.50%, Power Rev (Prerefunded with U.S. Gov't
Securities) 01/01/2017.......................... 18
945 Georgia Muni Electric Auth,
6.50%, Power Rev 01/01/2017..................... 1,113
40 Georgia Muni Electric Auth,
6.50%, Power Rev Ser Y 01/01/2017............... 47
--------
5,199
--------
ILLINOIS -- 5.5%
960 Chicago, IL,
5.25%, Board of Educ GO MBIA 12/01/2019......... 1,022
1,000 Chicago, IL,
6.75%, Tax Increment Allocation Jr Lien Pilsen
Redev B 06/01/2022.............................. 1,027
500 Illinois Educ FA,
5.70%, Rev Ref Augustana College Ser A
10/01/2032...................................... 519
500 Plano, IL,
6.10%, Lakewood Springs Proj Special Service
Area 03/01/2035................................. 493
500 Round Lake, IL,
6.70%, Special Tax Rev 03/01/2033............... 523
1,000 Wauconda, IL,
6.625%, Special Service Area #1 Liberty Lakes
Proj 03/01/2033................................. 1,009
990 Yorkville, IL,
6.875%, United City Special Service Area Tax
#2003-100 Raintree Village Proj 03/01/2033...... 1,023
--------
5,616
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
KANSAS -- 1.7%
$1,500 Kansas City, KS,
5.00%, Wyandotte County Univ Special Obligation
Rev 12/01/2020.................................. $ 1,526
260 La Cygne, KS,
4.65%, Kansas City Power & Light 09/01/2035..... 247
--------
1,773
--------
KENTUCKY -- 1.2%
150 Boone County, KY,
4.70%, Pollution Control Dayton Power & Light
01/01/2028...................................... 149
1,000 Christian County, KY,
6.00%, Hospital Rev Ref Jennie Stuart Medical
07/01/2013...................................... 1,033
--------
1,182
--------
LOUISIANA -- 0.5%
500 Louisiana Public FA,
5.50%, Ochsner Clinic Foundation Proj
05/15/2027...................................... 505
--------
MARYLAND -- 1.1%
1,000 Maryland Economic Dev Corp,
6.50%, Student Housing Rev Univ of Maryland
College Park Proj 06/01/2027.................... 1,086
--------
MASSACHUSETTS -- 2.0%
1,000 Massachusetts State Health & Educ Fac,
2.37%, 07/01/2029 K............................. 1,000
940 Massachusetts,
5.25%, GO Consolidated Loan 03/01/2021.......... 1,016
60 Massachusetts,
5.25%, GO Consolidated Loan FSA Prere
03/01/2021...................................... 65
--------
2,081
--------
MICHIGAN -- 4.8%
500 Detroit, MI,
5.50%, GO MBIA 04/01/2020....................... 544
1,750 Detroit, MI,
6.50%, Water Supply System Ref Rev FGIC
07/01/2015...................................... 2,082
1,000 Macomb County, MI,
5.75%, Mt Clemens General Hospital 11/15/2025... 998
500 Michigan Hospital FA,
5.625%, Henry Ford Health System 03/01/2017..... 538
750 Michigan Strategic Fund Ltd,
5.50%, Dow Chemical Proj AMT 12/01/2028......... 803
--------
4,965
--------
</Table>
The accompanying notes are an integral part of these financial statements.
198
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
MINNESOTA -- 4.4%
$ 250 Duluth, MN,
4.20%, Seaway PA IDA Dock & Wharf Rev Ref
Cargill Inc Proj 05/01/2013..................... $ 247
750 Minneapolis, MN,
6.00%, Health Care System AllinaHealth
11/15/2018...................................... 829
890 Minnesota Residential Housing Fin Agency,
5.00%, 01/01/2020............................... 899
500 Ramsey County, MN,
6.50%, Lease Rev Pact Charter School Proj
12/01/2022...................................... 503
665 St. Paul, MN,
6.00%, Housing & Redev Auth Hospital Rev
11/15/2025...................................... 714
860 St. Paul, MN,
6.00%, Housing & Redev Auth Lease Rev
12/01/2018...................................... 856
500 St. Paul, MN,
6.75%, Redev Auth Achieve Language Academy
12/01/2022...................................... 508
--------
4,556
--------
MISSISSIPPI -- 0.3%
250 Lowndes County, MS,
6.80%, Solid Waste Disposal & Pollution Control
Rev Ref Weyerhaeuser Co Proj 04/01/2022......... 301
--------
MISSOURI -- 0.5%
500 Branson, MO,
5.50%, State Dev Fin Board Infrastructure
12/01/2032...................................... 517
--------
NEVADA -- 1.5%
1,000 Clark County, NV,
6.375%, Improvement Dist #142 08/01/2023........ 1,015
495 North Las Vegas, NV,
6.40%, Local Special Improvement Dist #60
Aliante 12/01/2022.............................. 511
--------
1,526
--------
NEW HAMPSHIRE -- 0.8%
750 New Hampshire Health & Educ Fac Auth,
5.60%, Elliot Hospital 10/01/2022............... 784
--------
NEW JERSEY -- 4.1%
1,250 Middlesex County, NJ,
5.00%, Improvement Auth Street Student Housing
Proj 08/15/2018................................. 1,288
800 New Jersey Economic DA,
5.625%, Cigarette Tax 06/15/2019................ 834
750 New Jersey Educ Fac Auth,
5.125%, Stevens Institute of Technology
07/01/2022...................................... 771
275 New Jersey Educ Fac Auth,
6.00%, Fairleigh Dickinson University
07/01/2025...................................... 291
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
NEW JERSEY -- (CONTINUED)
$ 500 New Jersey Educ Fac Auth,
6.50%, Georgian Court College 07/01/2033........ $ 553
500 New Jersey Health Care Fac FA,
6.50%, Pascack Valley Hospital 07/01/2023....... 511
--------
4,248
--------
NEW MEXICO -- 0.6%
665 Cabezon, NM,
5.20%, Public Improvement Dist 09/01/2015....... 648
--------
NEW YORK -- 5.9%
250 Dutchess County, NY,
5.00%, IDA Civic Fac Rev Ref Marist College
07/01/2022...................................... 257
550 Erie County, NY, Individual Dev Agency Civic Fac
Rev Charter School Applied Tech Proj
06/01/2025...................................... 518
1,000 Liberty, NY,
5.25%, Corp Dev Goldman Sachs Headquarters
10/01/2035...................................... 1,095
800 New York Dorm Auth,
5.25%, Methodist Hospital 07/01/2019............ 843
500 New York State Govt Assistance Corp,
2.61%, 04/01/2019 K............................. 500
400 New York, NY,
5.65%, IDA Brooklyn Navy Yard Cogen Partners
10/01/2028...................................... 395
895 New York, NY,
5.75%, GO (Prerefunded with U.S. Govt
Securities) 03/01/2016.......................... 981
105 New York, NY,
5.75%, GO 03/01/2016............................ 118
300 Saratoga, NY,
5.00%, Ind Dev Saratoga Hospital Proj
12/01/2013...................................... 312
620 Utica, NY,
6.875%, IDA Civic Fac Rev Utica College
12/01/2014...................................... 659
400 Westchester County, NY,
6.375%, IDA Continuing Care Retirement Kendal on
Hudson Proj 01/01/2024.......................... 413
--------
6,091
--------
NORTH CAROLINA -- 1.0%
500 North Carolina Eastern Muni Power Agency,
5.375%, Power System Rev Ref 01/01/2017......... 524
500 North Carolina Muni Power Agency,
5.50%, Catawba Electric Rev 01/01/2014.......... 536
--------
1,060
--------
OHIO -- 1.8%
300 Cuyahoga County, OH,
5.50%, Rev Ref Class A 01/01/2029............... 313
1,270 Hamilton, OH,
6.15%, School Dist Improvement 12/01/2016....... 1,493
--------
1,806
--------
</Table>
The accompanying notes are an integral part of these financial statements.
199
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
OTHER U.S. TERRITORIES -- 2.7%
$1,000 Puerto Rico Commonwealth,
5.00%, GO 07/01/2030............................ $ 1,044
800 Puerto Rico Commonwealth,
5.25%, Public Improvement GO 07/01/2019......... 846
110 University Virgin Islands,
5.00%, GO 12/01/2021............................ 111
750 Virgin Islands Public FA,
6.125%, Refinery Fac Rev Hovenska Refinery
07/01/2022...................................... 808
--------
2,809
--------
PENNSYLVANIA -- 6.0%
625 Carbon County, PA,
6.65%, IDA Resource Recovery Panther Creek
Partners Proj AMT 05/01/2010.................... 663
1,000 Lehigh County, PA,
5.375%, Saint Lukes Bethlehem Hospital
08/15/2033...................................... 1,017
800 Montgomery County, PA,
6.125%, IDA Rev Whitemarsh Continuing Care Proj
02/01/2028...................................... 823
1,000 Pennsylvania Higher Educ Fac Auth,
2.72%, 11/01/2025 K............................. 1,000
1,100 Pennsylvania Higher Educ Fac Auth,
2.72%, 11/01/2029 K............................. 1,100
1,000 Pennsylvania Higher Educ Fac Auth,
5.25%, Widener Univ 07/15/2024.................. 1,038
500 Susquehanna, PA,
5.375%, Regional Airport Auth System Rev
01/01/2018...................................... 512
--------
6,153
--------
RHODE ISLAND -- 6.4%
1,000 Central Falls, RI,
6.75%, Detention FA Fac Rev 01/15/2013.......... 1,010
250 Rhode Island Health & Educ Building Corp,
6.50%, Hospital Financing Rev 08/15/2032........ 275
5,000 Rhode Island Tobacco Settlement Funding Corp,
6.00%, 06/01/2023............................... 5,251
--------
6,536
--------
SOUTH CAROLINA -- 1.0%
1,000 Dorchester County, SC,
5.25%, School Dist #2 Installment Purchase Rev
Growth Remedy Opportunity Hike 12/01/2024....... 1,042
--------
TENNESSEE -- 0.5%
500 McMinn County, TN,
7.625%, IDA PCR Calhoun Newsprint Co Proj
03/01/2016...................................... 505
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
TEXAS -- 2.5%
$1,000 Clear Creek, TX,
5.00%, ISD GO 2/15/2018......................... $ 1,051
1,000 Matagorda County, TX,
5.60%, Navigation Dist #1 Rev Ref Centerpoint
Energy Proj 03/01/2027.......................... 1,034
500 Sam Rayburn Muni Power Agency,
5.50%, 10/01/2010............................... 518
--------
2,603
--------
UTAH -- 0.5%
500 Utah,
5.375%, GO 07/01/2011........................... 545
--------
VIRGINIA -- 3.0%
500 Norfolk, VA,
6.00%, Redev & Housing Auth First Mort
Retirement Comm 01/01/2025...................... 502
1,000 Peninsula, VA,
6.00%, PA Fac CSX Transport Proj 12/15/2012..... 1,093
1,455 Virginia Tobacco Settlement Funding Corp,
5.50%, 06/01/2026............................... 1,496
--------
3,091
--------
WASHINGTON -- 0.7%
670 King County, WA,
5.00%, ISD #210 GO 06/01/2019................... 699
--------
WISCONSIN -- 1.9%
1,305 Sparta, WI,
5.90%, School Dist Ref GO FGIC 03/01/2016....... 1,435
500 Wisconsin Housing & Econ DA,
4.85%, GO Home Ownership Rev 09/01/2017......... 512
--------
1,947
--------
Total municipal bonds
(cost $94,003).................................. $ 97,634
--------
SHORT-TERM INVESTMENTS -- 3.8%
FINANCE -- 3.8%
$3,939 State Street Bank Tax Free Money Market, current
rate -- 2.21% K................................. $ 3,939
--------
Total short-term investments
(cost $3,939)................................... $ 3,939
--------
Total investments in securities
(cost $97,942)O................................. $101,573
--------
</Table>
The accompanying notes are an integral part of these financial statements.
200
- --------------------------------------------------------------------------------
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $97,942 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $3,795
Unrealized depreciation.......................... (164)
------
Net unrealized appreciation...................... $3,631
======
</Table>
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $985, which represents 0.96% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
I The cost of securities purchased on a when-issued basis at
October 31, 2005 was $812.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
<Table>
AMT -- Alternative Minimum Tax
DA -- Development Authority
FA -- Finance Authority
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
GO -- General Obligations
IDA -- Industrial Development Authority Bond
IDR -- Industrial Development Revenue Bond
ISD -- Independent School District
MBIA -- Municipal Bond Insurance Association
PA -- Port Authority
PCR -- Pollution Control Revenue Bond
USD -- United School District
</Table>
The accompanying notes are an integral part of these financial statements.
201
THE HARTFORD TAX-FREE NEW YORK FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 91.7%
AIRPORT REVENUES -- 1.3%
$ 200 Monroe County, NY,
5.25%, Airport Auth Rev Ref Greater Rochester
International 01/01/2014........................ $ 211
-------
GENERAL OBLIGATIONS -- 23.3%
250 New York, NY,
2.70%, Transitional FA NYC Recovery 11/01/2022
K............................................... 250
250 New York, NY,
2.71%, GO 08/01/2009 K.......................... 250
450 New York, NY,
5.00%, GO 03/01/2030............................ 458
45 New York, NY,
5.75%, GO (Prerefunded with U.S. Govt
Securities) 03/01/2016.......................... 51
380 New York, NY,
5.75%, GO 03/01/2016............................ 417
500 Niagara Falls, NY,
5.00%, School District Certificate Participation
06/15/2028...................................... 516
250 Puerto Rico Commonwealth,
5.00%, Ref GO 07/01/2030........................ 261
200 Puerto Rico Commonwealth,
5.25%, Public Improvement GO 07/01/2019......... 211
400 Tobacco Settlement FA of NY,
5.50%, GO 06/01/2022............................ 432
700 Triborough Bridges and Tunnel Auth,
2.68%, 11/01/2032 K............................. 700
110 University Virgin Islands,
5.00%, GO 12/01/2021............................ 111
-------
3,657
-------
HEALTH CARE/SERVICES -- 7.3%
125 Chemung County, NY,
5.00%, IDA Civic Fac Rev Arnot Ogden Medical Ctr
Constr 11/01/2034............................... 125
445 New York Dorm Auth Rev,
5.00%, Mental Health Services Fac 02/15/2018.... 471
5 New York Dorm Auth Rev,
5.00%, Mental Health Services Fac 02/15/2018.... 5
200 New York Dorm Auth Rev,
5.25%, Methodist Hosp 07/01/2019................ 211
200 Saratoga, NY,
5.00% Ind Dev Saratoga Hosp Proj 12/01/2014..... 207
100 Westchester County, NY,
6.375%, IDA Continuing Care Retirement
Mtg-Kendal on Hudson Proj 01/01/2024............ 103
-------
1,122
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 25.0%
$ 250 Dutchess County, NY,
5.00%, IDA Civic Fac Rev Ref Marist College
07/01/2022...................................... $ 257
190 New York Dorm Auth Rev,
5.00%, Fordham Univ FGIC 07/01/2020............. 199
400 New York Dorm Auth Rev,
5.00%, Mount St Mary College 07/01/2027......... 411
400 New York Dorm Auth Rev,
5.00%, Rochester General Hospital 12/01/2025.... 413
450 New York Dorm Auth Rev,
5.00%, State Univ Dorm Fac 07/01/2032........... 486
450 New York Dorm Auth Rev,
5.125%, St Barnabas FHA AMBAC 02/01/2022........ 474
135 New York Dorm Auth Rev,
5.25%, Rochester Univ 07/01/2022................ 144
250 New York Dorm Auth Rev,
5.25%, Upstate Comm College 07/01/2021.......... 267
250 New York Dorm Auth Rev,
5.50%, Brooklyn Law School 07/01/2019........... 269
425 New York Dorm Auth Rev,
5.50%, Court Fac 05/15/2020..................... 473
200 New York Dorm Auth Rev,
5.50%, Winthrop South Nassau Univ 07/01/2023.... 207
200 Otsego County, NY,
6.00%, IDA Civic Fac Rev Hartwick College Proj
07/01/2011...................................... 212
100 Utica, NY,
6.875%, IDA Civic Fac Rev Utica College
12/01/2014...................................... 106
-------
3,918
-------
HOUSING (HFA'S, ETC.) -- 4.3%
200 Grand Central, NY,
5.00%, Dist Management Assoc Inc Ref Capital
Business Improvement 01/01/2022................. 206
425 New York Urban Dev Corp Rev,
5.50%, Personal Income Tax FGIC 03/15/2017...... 474
-------
680
-------
INDUSTRIAL -- 2.3%
100 Albany, NY,
5.00%, IDA New Covenant Charter School
05/01/2007...................................... 100
250 New York, NY, IDA Civic Fac Rev,
5.25%, YMCA of Greater NY Proj 08/01/2021....... 258
-------
358
-------
LAND DEVELOPMENT -- 0.6%
100 New York, NY,
5.65%, IDA Brooklyn Navy Yard Cogen Partners
10/01/2028...................................... 99
-------
</Table>
The accompanying notes are an integral part of these financial statements.
202
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
MISCELLANEOUS -- 14.2%
$1,000 Children's Trust Fund,
5.50%, Puerto Rico Tobacco Settlement Rev
05/15/2039...................................... $ 1,029
250 Erie County, NY,
6.75% Individual Dev Agency Civic Fac Rev
Charter School Applied Tech Proj 06/01/2025..... 235
200 Liberty, NY,
5.25%, Corp Dev Goldman Sachs Headquarters
10/01/2035...................................... 219
450 New York, NY,
5.00%, Transitional FA Future Tax Secured
08/01/2023...................................... 469
250 Virgin Islands Public FA,
6.125%, Refinery Fac Rev Hovenska Refinery
07/01/2022...................................... 269
-------
2,221
-------
POLLUTION CONTROL -- 3.0%
450 New York Environmental Fac Corp,
5.00%, 07/15/2026............................... 467
-------
PUBLIC FACILITIES -- 2.9%
450 St. Lawrence, NY,
5.00%, IDA Civic Fac Rev Clarkson Univ Proj
07/01/2023...................................... 459
-------
TRANSPORTATION -- 3.0%
450 New York Metropolitan Transportation Auth,
5.125%, 11/15/2031.............................. 466
-------
UTILITIES -- ELECTRIC -- 1.6%
250 New York Energy Research & Dev Auth,
5.30%, Electric Fac Rev Long Island Lighting Co
Proj 08/01/2025................................. 257
-------
UTILITIES -- WATER AND SEWER -- 2.9%
450 Jefferson County, NY,
5.20%, IDA Waste Disposal 12/01/2020............ 452
-------
Total municipal bonds
(cost $14,031).................................. $14,367
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
SHORT-TERM INVESTMENTS -- 4.7%
FINANCE -- 4.7%
$ 743 Dreyfus Basic New York Municipal Money Market
Fund, current rate -- 2.25% K................... $ 743
-------
Total short-term investments
(cost $743)..................................... $ 743
-------
Total investments in securities
(cost $14,774) O................................ $15,110
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $14,774 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $378
Unrealized depreciation............................ (42)
----
Net unrealized appreciation........................ $336
====
</Table>
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
<Table>
AMT -- Alternative Minimum Tax
DA -- Development Authority
FA -- Finance Authority
FGIC -- Financial Guaranty Insurance Company
FSA -- Financial Security Assurance
GO -- General Obligations
IDA -- Industrial Development Authority Bond
IDR -- Industrial Development Revenue Bond
ISD -- Independent School District
MBIA -- Municipal Bond Insurance Association
PA -- Port Authority
PCR -- Pollution Control Revenue Bond
USD -- United School District
</Table>
The accompanying notes are an integral part of these financial statements.
203
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ---------- ----------
PREFERRED STOCKS -- 0.5%
FINANCE -- 0.5%
63 Goldman Sachs Group, Inc. ........................ $ 1,594
60 HSBC USA, Inc. ................................... 1,513
----------
Total preferred stocks
(cost $3,075)................................... $ 3,107
----------
<Caption>
PRINCIPAL
AMOUNT
- ----------
MUNICIPAL BONDS -- 0.7%
GENERAL OBLIGATIONS -- 0.6%
$ 1,250 Oregon School Boards Association,
4.76%, Taxable Pension 06/30/2028............... $ 1,154
3,000 State of Illinois,
5.10%, Taxable Pension 06/01/2033............... 2,876
----------
4,030
----------
MISCELLANEOUS -- 0.1%
813 Mashantucket Western Pequot Revenue Bond,
5.91%, Taxable, 09/01/2021 M.................... 800
----------
Total municipal bonds
(cost $5,063)................................... $ 4,830
----------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 14.5%
ENERGY -- 0.5%
$ 3,050 Oncor Electric Delivery Transition Bond Co.,
4.03%, 02/15/2012............................... $ 2,982
----------
FINANCE -- 13.8%
1,900 ACT Depositor Corp.,
5.52%, 09/22/2041 MKI........................... 1,791
386 AQ Finance CEB Trust,
9.04%, 8/25/2033 MK............................. 379
27 Asset Backed Funding Corp. NIM Trust,
4.55%, 12/26/2033 M............................. 27
49,336 Banc of America Commercial Mortgage, Inc.,
4.08%, 12/10/2042 W............................. 1,169
3,066 Banc of America Commercial Mortgage, Inc.,
5.00%, 10/10/2045............................... 3,047
6,553 Banc of America Commercial Mortgage, Inc.,
6.02%, 09/11/2036 MW............................ 906
800 Bank One Issuance Trust,
4.77%, 02/16/2016............................... 770
14,550 Bear Stearns Commercial Mortgage Securities, Inc.,
4.07%, 07/11/2042 W............................. 575
11,607 Bear Stearns Commercial Mortgage Securities, Inc.,
4.12%, 11/11/2041 W............................. 365
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
FINANCE -- (CONTINUED)
$ 26,098 Bear Stearns Commercial Mortgage Securities, Inc.,
5.50%, 02/11/2041 MW............................ $ 609
533 California Infrastructure & Economic Development,
6.38%, 09/25/2008............................... 538
960 Capital One Multi-Asset Execution Trust,
3.50%, 02/17/2009............................... 954
2,925 Capital One Prime Auto Receivables Trust,
4.24%, 11/15/2007............................... 2,917
3,200 Capital One Prime Multi-Asset Execution Trust,
4.40%, 08/15/2011............................... 3,166
1,430 Chase Credit Card Master Trust,
5.50%, 11/17/2008............................... 1,439
2,290 Citibank Credit Card Issuance Trust,
5.00%, 06/10/2015............................... 2,229
1,375 Citigroup Commercial Mortgage Trust,
5.25%, 04/15/2040............................... 1,379
1,300 CNH Equipment Trust,
4.02%, 04/15/2009............................... 1,285
628 Conseco Finance Securitizations Corp.,
5.79%, 05/01/2033............................... 629
299 Countrywide Asset-Backed Certificates,
5.46%, 05/25/2035............................... 295
552 Credit Suisse First Boston Mortgage Securities
Corp.,
2.08%, 05/15/2038............................... 529
42,850 Credit Suisse First Boston Mortgage Securities
Corp.,
4.39%, 07/01/2037 MW............................ 1,370
418 Credit Suisse First Boston Mortgage Securities
Corp.,
4.51%, 07/15/2037............................... 407
2,700 Credit Suisse First Boston Mortgage Securities
Corp.,
4.69%, 04/15/2037............................... 2,627
416 Credit Suisse First Boston Mortgage Securities
Corp.,
4.69%, 07/15/2037............................... 397
2,500 GE Capital Commercial Mortgage Corp.,
4.12%, 03/10/2040............................... 2,409
2,700 GE Capital Commercial Mortgage Corp.,
4.71%, 05/10/2043............................... 2,657
12,908 GMAC Commercial Mortgage Securities, Inc.,
4.10%, 12/10/2041 W............................. 357
31,000 Goldman Sachs Mortgage Securities Corp. II,
4.38%, 08/10/2038 MW............................ 419
1,650 Goldman Sachs Mortgage Securities Corp. II,
4.60%, 08/10/2038............................... 1,626
</Table>
The accompanying notes are an integral part of these financial statements.
204
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 3,150 Goldman Sachs Mortgage Securities Corp. II,
4.84%, 07/10/2039............................... $ 3,004
240 Green Tree Financial Corp.,
6.27%, 06/01/2030............................... 242
376 Green Tree Financial Corp.,
7.24%, 06/15/2028............................... 393
3,250 Greenwich Capital Commercial Mortgage Trust,
3.40%, 11/10/2010............................... 3,266
950 Herd Trust,
7.00%, 09/27/2034 M............................. 950
707 Honda Auto Receivables Owner Trust,
2.14%, 04/23/2007............................... 704
57,909 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 W............................. 1,103
105,417 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.82%, 08/12/2037 W............................. 541
1,900 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.87%, 03/15/2046............................... 1,867
2,023 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.911%, 07/15/2042.............................. 1,936
1,127 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
4.941%, 07/15/2042.............................. 1,079
24,748 J.P. Morgan Chase Commercial Mortgage Securities
Corp.,
5.50%, 01/15/2038 MW............................ 935
1,409 LB-UBS Commercial Mortgage Trust,
2.72%, 03/15/2007............................... 1,362
1,710 LB-UBS Commercial Mortgage Trust,
3.34%, 09/15/2027............................... 1,656
3,000 LB-UBS Commercial Mortgage Trust,
4.80%, 12/15/2029............................... 2,903
1,300 Lehman Brothers Small Balance Commercial,
5.22%, 09/01/2030............................... 1,300
538 Long Beach Asset Holdings Corp.,
4.12%, 02/25/2035 M............................. 536
2,400 MBNA Credit Card Master Note Trust,
4.50%, 01/15/2013............................... 2,360
417 Merrill Lynch Mortgage Trust,
4.56%, 05/01/2043............................... 407
44,179 Merrill Lynch Mortgage Trust,
4.57%, 05/01/2043 W............................. 1,380
417 Merrill Lynch Mortgage Trust,
4.75%, 05/01/2043............................... 400
681 Morgan Stanley Auto Loan Trust,
5.00%, 03/15/2012 M............................. 671
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
FINANCE -- (CONTINUED)
$ 2,795 Morgan Stanley Capital I,
5.23%, 09/15/2042............................... $ 2,779
1,175 Morgan Stanley Capital I,
7.63%, 04/30/2039 MK............................ 1,209
12,535 Morgan Stanley Dean Witter Capital I,
0%, 08/25/2032 VW............................... @@
8,900 Morgan Stanley Dean Witter Capital I,
8.05%, 08/25/2032 VW............................ 171
542 Park Place Securities, Inc.,
4.42%, 09/25/2034............................... 543
1,400 Peco Energy Transition Trust,
6.13%, 03/01/2009............................... 1,438
650 Popular ABS Mortgage Pass-Through Trust,
4.75%, 12/25/2034............................... 625
540 Popular ABS Mortgage Pass-Through Trust,
5.42%, 04/25/2035............................... 531
1,125 Providian Gateway Master Trust,
3.35%, 09/15/2011 M............................. 1,094
1,450 Providian Gateway Master Trust,
3.80%, 11/15/2011 M............................. 1,419
1,750 PSE&G Transition Funding LLC,
6.45%, 03/15/2013............................... 1,860
800 Renaissance Home Equity Loan Trust,
5.36%, 05/25/2035............................... 783
550 Residential Asset Mortgage Products, Inc.,
4.98%, 08/25/2034............................... 545
186 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 189
376 USAA Auto Owner Trust,
2.79%, 06/15/2007............................... 375
10,261 Wachovia Bank Commercial Mortgage Trust,
3.65%, 2/15/2041 MW............................. 371
43,877 Wachovia Bank Commercial Mortgage Trust,
4.48%, 05/15/2044 MW............................ 1,371
417 Wachovia Bank Commercial Mortgage Trust,
4.52%, 05/15/2044............................... 406
415 Wachovia Bank Commercial Mortgage Trust,
4.70%, 05/15/2044............................... 396
1,375 Wachovia Bank Commercial Mortgage Trust,
4.72%, 01/15/2041............................... 1,346
3,050 Wachovia Bank Commercial Mortgage Trust,
4.79%, 04/15/2042............................... 2,979
3,705 Wachovia Bank Commercial Mortgage Trust,
5.27%, 10/02/2044............................... 3,701
----------
90,393
----------
</Table>
The accompanying notes are an integral part of these financial statements.
205
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
TRANSPORTATION -- 0.1%
$ 570 Connecticut RRB Special Purpose Trust CL&P,
6.21%, 12/30/2011............................... $ 598
----------
UTILITIES -- 0.1%
805 Pacific Gas & Electric Energy Recovery Funding
LLC,
3.87%, 06/25/2011............................... 791
----------
Total asset & commercial mortgage backed
securities
(cost $96,805).................................. $ 94,764
----------
CORPORATE BONDS: INVESTMENT GRADE -- 27.2%
BASIC MATERIALS -- 1.5%
$ 2,090 Falconbridge Ltd.,
7.25%, 07/15/2012............................... $ 2,255
1,500 ICI Wilmington, Inc.,
4.375%, 12/01/2008.............................. 1,466
1,155 Lubrizol Corp.,
5.50%, 10/01/2014............................... 1,138
1,900 Potlatch Corp.,
12.50%, 12/01/2009.............................. 2,275
1,370 Teck Cominco Ltd.,
5.375%, 10/01/2015 H............................ 1,332
1,295 Vale Overseas Ltd.,
8.25%, 01/17/2034............................... 1,399
----------
9,865
----------
CAPITAL GOODS -- 0.4%
965 Briggs & Stratton Corp.,
8.875%, 03/15/2011.............................. 1,078
1,500 Rockwell Automation, Inc.,
6.70%, 01/15/2028............................... 1,698
----------
2,776
----------
CONSUMER CYCLICAL -- 1.2%
4,300 Ford Motor Co.,
7.45%, 07/16/2031............................... 3,161
710 Foster's Finance Corp.,
4.875%, 10/01/2014 M............................ 675
1,425 K. Hovnanian Enterprises,
6.375%, 12/15/2014.............................. 1,306
625 Masco Corp.,
4.80%, 06/15/2015............................... 594
550 Masco Corp.,
7.125%, 08/15/2013.............................. 610
1,560 PHH Corp.,
7.125%, 03/01/2013.............................. 1,667
----------
8,013
----------
CONSUMER STAPLES -- 0.3%
1,980 Weyerhaeuser Co.,
6.75%, 03/15/2012............................... 2,097
----------
</Table>
<Table>
<Caption>
PRINCIPAL Market
AMOUNT Y Value U
- ---------- ----------
ENERGY -- 2.2%
$ 1,275 Consolidated Natural Gas Co.,
5.375%, 11/01/2006.............................. $ 1,282
830 EnCana Corp.,
6.30%, 11/01/2011............................... 877
1,190 Enterprise Products Operating L.P.,
4.625%, 10/15/2009.............................. 1,154
500 Lasmo (USA), Inc.,
7.50%, 06/30/2006............................... 509
650 Occidental Petroleum Corp.,
7.375%, 11/15/2008.............................. 697
1,495 Pioneer Natural Resources Co.,
5.875%, 07/15/2016.............................. 1,429
611 Ras Laffan Liquefied Natural Gas Co., Ltd.,
3.44%, 09/15/2009 M............................. 588
2,015 Ras Laffan Liquefied Natural Gas Co., Ltd.,
5.30%, 09/30/2020 M............................. 1,970
1,130 Schlumberger Ltd.,
2.125%, 06/01/2023 H............................ 1,418
1,890 Transocean, Inc.,
1.50%, 05/15/2021............................... 1,930
620 Valero Energy Corp.,
7.50%, 04/15/2032............................... 731
380 Valero Energy Corp.,
8.75%, 06/15/2030............................... 495
535 XTO Energy, Inc.,
5.00%, 01/31/2015............................... 517
585 XTO Energy, Inc.,
5.30%, 06/30/2015............................... 578
----------
14,175
----------
FOREIGN GOVERNMENTS -- 4.9%
EUR 10,010 Bundesobligation,
3.50%, 10/10/2008............................... 12,242
1,670 Fondo LatinoAmericano De Reservas,
3.00%, 08/01/2006 M............................. 1,649
GBP 8,695 UK Treasury,
4.75%, 09/07/2015............................... 15,888
950 United Mexican States,
4.625%, 10/08/2008.............................. 939
555 United Mexican States,
5.875%, 01/15/2014.............................. 564
850 United Mexican States,
8.125%, 12/30/2019.............................. 1,017
----------
32,299
----------
FINANCE -- 8.8%
800 Aetna, Inc.,
7.375%, 03/01/2006.............................. 807
1,125 Aetna, Inc.,
7.875%, 03/01/2011.............................. 1,261
1,420 American General Finance Corp.,
3.875%, 10/01/2009.............................. 1,357
3,110 Amvescap plc,
4.50%, 12/15/2009............................... 3,035
</Table>
The accompanying notes are an integral part of these financial statements.
206
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,600 AvalonBay Communities, Inc.,
8.25%, 07/15/2008............................... $ 1,728
1,930 BAE Systems Holdings, Inc.,
5.20%, 08/15/2015 M............................. 1,871
651 Bear Stearns Co., Inc.,
5.30%, 10/30/2015............................... 649
1,000 Camden Property Trust,
4.375%, 01/15/2010.............................. 960
1,100 CIT Group, Inc.,
4.00%, 05/08/2008 H............................. 1,077
985 CIT Group, Inc.,
4.125%, 11/03/2009 H............................ 953
1,200 Credit Suisse First Boston USA, Inc.,
6.50%, 01/15/2012............................... 1,281
1,825 DaimlerChrysler N.A. Holdings Corp.,
4.875%, 06/15/2010.............................. 1,770
700 Duke Realty Corp.,
5.25%, 01/15/2010............................... 701
600 ERAC USA Finance Co.,
5.60%, 05/01/2015 M............................. 591
1,400 ERP Operating L.P.,
6.58%, 04/13/2015............................... 1,505
2,895 Goldman Sachs Group, Inc.,
5.25%, 04/01/2013............................... 2,874
1,270 International Lease Finance Corp.,
5.00%, 04/15/2010............................... 1,260
1,625 J.P. Morgan Chase & Co.,
5.125%, 09/15/2014.............................. 1,590
1,650 J.P. Morgan Chase & Co.,
5.25%, 05/01/2015............................... 1,632
1,450 J.P. Morgan Chase & Co.,
7.875%, 06/15/2010.............................. 1,608
2,100 Manufacturers and Traders Trust Co.,
3.99%, 06/20/2006 K............................. 2,101
1,640 Marsh & McLennan Cos., Inc.,
5.375%, 07/15/2014.............................. 1,570
2,400 MBNA Europe Funding plc,
3.88%, 09/07/2005 M............................. 2,400
1,125 Merrill Lynch & Co., Inc.,
4.125%, 09/10/2009.............................. 1,088
1,490 Mizuho Financial Group, Inc.,
5.79%, 04/15/2014 M............................. 1,528
1,270 Morgan Stanley,
4.75%, 04/01/2014............................... 1,198
1,130 National Rural Utilities Cooperative Finance
Corp.,
3.00%, 02/15/2006............................... 1,125
1,225 Navistar Financial Corp. Owner Trust,
3.53%, 10/15/2012............................... 1,182
725 PNC Funding Corp.,
7.50%, 11/01/2009............................... 788
977 Prudential Insurance Co. of America,
6.375%, 07/23/2006 M............................ 988
1,450 Rabobank Capital Funding Trust III,
5.25%, 12/29/2049 M............................. 1,399
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
FINANCE -- (CONTINUED)
$ 1,240 Resona Bank Ltd., 5.85%,
12/31/2049 M.................................... $ 1,197
1,820 Simon Property Group, Inc.,
7.875%, 03/15/2016 M............................ 2,110
250 Southern Investments UK plc,
6.80%, 12/01/2006............................... 254
1,150 St. Paul Travelers Cos., Inc.,
8.125%, 04/15/2010.............................. 1,281
1,270 Sumitomo Mitsui Banking,
5.63%, 10/15/2015 M............................. 1,242
685 SunTrust Banks, Inc.,
6.00%, 02/15/2026............................... 717
1,145 Textron Financial Corp.,
5.875%, 06/01/2007.............................. 1,161
496 Travelers Property Casualty Corp.,
5.00%, 03/15/2013............................... 479
1,005 UnitedHealth Group, Inc.,
4.125%, 08/15/2009.............................. 977
345 Verizon Global Funding Corp.,
7.75%, 12/01/2030............................... 400
800 WellPoint, Inc.,
6.80%, 08/01/2012............................... 871
----------
54,566
----------
HEALTH CARE -- 0.4%
2,450 Genentech, Inc.,
4.75%, 07/15/2015 M............................. 2,365
750 Humana, Inc.,
7.25%, 08/01/2006............................... 760
422 Manor Care, Inc.,
6.25%, 05/01/2013............................... 435
----------
3,560
----------
SERVICES -- 1.5%
1,370 American Greetings Corp.,
6.10%, 08/01/2028............................... 1,394
915 Army Hawaii Family Housing,
5.52%, 06/15/2050 M............................. 910
670 FedEx Corp.,
3.50%, 04/01/2009............................... 640
575 Fiserv, Inc.,
3.00%, 06/27/2008............................... 543
820 Liberty Media Corp.,
8.25%, 02/01/2030 H............................. 769
1,000 Marriott International, Inc.,
7.875%, 09/15/2009.............................. 1,095
700 News America Holdings, Inc.,
7.70%, 10/30/2025............................... 780
685 TCI Communications, Inc.,
8.75%, 08/01/2015............................... 827
1,650 Tele-Communications, Inc.,
7.875%, 08/01/2013.............................. 1,859
1,240 WMX Technologies, Inc.,
7.00%, 10/15/2006............................... 1,262
----------
10,079
----------
</Table>
The accompanying notes are an integral part of these financial statements.
207
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
TECHNOLOGY -- 3.0%
$ 1,660 Affiliated Computer Services,
5.20%, 06/01/2015 H............................. $ 1,512
530 BellSouth Corp.,
6.00%, 11/15/2034............................... 510
1,235 British Sky Broadcasting plc,
7.30%, 10/15/2006............................... 1,262
2,500 Cingular Wireless Services, Inc.,
8.75%, 03/01/2031............................... 3,260
3,875 Cox Communications, Inc.,
5.50%, 10/01/2015............................... 3,763
980 Deutsche Telekom International Finance B.V.,
8.50%, 06/15/2010............................... 1,094
805 Raytheon Co.,
4.50%, 11/15/2007............................... 798
680 Raytheon Co.,
6.55%, 03/15/2010............................... 716
655 Raytheon Co.,
8.30%, 03/01/2010............................... 735
1,600 SBC Communications, Inc.,
6.15%, 09/15/2034 H............................. 1,563
1,000 Telus Corp.,
8.00%, 06/01/2011............................... 1,124
685 Thomas & Betts Corp.,
7.25%, 06/01/2013............................... 722
2,870 Verizon Global Funding Corp.,
5.85%, 09/15/2035............................... 2,683
----------
19,742
----------
TRANSPORTATION -- 0.3%
685 American Airlines, Inc.,
6.98%, 04/01/2011............................... 685
331 Continental Airlines, Inc.,
6.70%, 06/15/2021............................... 313
878 Continental Airlines, Inc.,
8.05%, 05/01/2022............................... 870
----------
1,868
----------
UTILITIES -- 2.9%
500 Buckeye Partners, L.P.,
5.30%, 10/15/2014............................... 490
250 Centerior Energy Corp.,
7.13%, 07/01/2007............................... 259
1,050 Centerpoint Energy Resources Corp.,
7.875%, 04/01/2013.............................. 1,186
1,275 CenterPoint Energy, Inc.,
6.85%, 06/01/2015............................... 1,367
400 Consumers Energy Co.,
5.15%, 02/15/2017............................... 385
920 Consumers Energy Co.,
5.375%, 04/15/2013.............................. 915
565 Detroit Edison Co.,
6.125%, 10/01/2010.............................. 588
1,501 Dominion Resources, Inc.,
4.30%, 09/28/2007............................... 1,501
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
UTILITIES -- (CONTINUED)
$ 1,175 Duke Energy Corp.,
3.75%, 03/05/2008............................... $ 1,145
970 Empresa Nacional de Electricidad S.A.,
8.625%, 08/01/2015 H............................ 1,112
1,160 FirstEnergy Corp.,
6.45%, 11/15/2011............................... 1,220
3,200 FPL Group Capital, Inc.,
3.25%, 04/11/2006............................... 3,181
275 Kansas Gas & Electric Co.,
6.20%, 01/15/2006............................... 276
2,730 Kinder Morgan Energy Partners L.P.,
5.80%, 03/15/2035............................... 2,544
850 NorthWestern Corp.,
7.30%, 12/01/2006 M............................. 864
200 Pacificorp,
6.12%, 01/15/2006............................... 201
860 Panhandle Eastern Pipeline,
2.75%, 03/15/2007............................... 835
850 Texas-New Mexico Power Co.,
6.125%, 06/01/2008.............................. 860
250 Westar Energy, Inc.,
5.15%, 01/01/2017............................... 243
----------
19,172
----------
Total corporate bonds: investment grade
(cost $169,175)................................. $ 178,212
----------
CORPORATE BONDS: NON-INVESTMENT GRADE -- 3.8%
BASIC MATERIALS -- 0.8%
$ 600 CSN Islands VIII Corp.,
10.00%, 01/15/2015 M............................ $ 656
1,430 Domtar, Inc.,
7.875%, 10/15/2011.............................. 1,308
2,055 International Steel Group, Inc.,
6.50%, 04/15/2014............................... 2,019
1,675 Vedanta Resources plc,
6.625%, 02/22/2010 MH........................... 1,621
----------
5,604
----------
CAPITAL GOODS -- 0.3%
2,045 Bombardier, Inc.,
6.30%, 05/01/2014 MH............................ 1,769
----------
CONSUMER CYCLICAL -- 0.2%
1,135 Desarrolladora Homes S.A.,
7.50%, 09/28/2015 M............................. 1,095
----------
CONSUMER STAPLES -- 0.1%
550 Tembec Industries, Inc.,
7.75%, 03/15/2012............................... 344
----------
FINANCE -- 0.5%
960 General Motors Acceptance Corp.,
8.60%, 12/01/2012 Z............................. 520
2,380 General Motors Acceptance Corp.,
6.875%, 09/15/2011.............................. 2,308
</Table>
The accompanying notes are an integral part of these financial statements.
208
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
CORPORATE BONDS: NON-INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 610 General Motors Acceptance Corp.,
8.64%, 06/15/2015 Z............................. $ 276
----------
3,104
----------
ENERGY -- 0.2%
1,500 El Paso CGP Co.,
6.50%, 06/01/2008............................... 1,461
----------
HEALTH CARE -- 0.3%
1,100 HCA, Inc.,
6.375%, 01/15/2015 H............................ 1,079
905 HCA, Inc.,
6.95%, 05/01/2012............................... 922
----------
2,001
----------
TECHNOLOGY -- 1.2%
1,300 Intelsat Bermuda Ltd.,
8.70%, 01/15/2012 M............................. 1,316
535 Intelsat Ltd.,
6.50%, 11/01/2013 H............................. 393
1,975 L-3 Communications Corp.,
3.00%, 08/01/2035 M............................. 1,985
2,500 MCI, Inc.,
7.69%, 05/01/2009............................... 2,591
890 Nextel Partners, Inc.,
8.125%, 07/01/2011.............................. 950
420 Shaw Communications, Inc.,
8.25%, 04/11/2010............................... 453
----------
7,688
----------
TRANSPORTATION -- 0.1%
695 Hornbeck Offshore Services, Inc.,
6.125%, 12/01/2014 M............................ 678
----------
UTILITIES -- 0.1%
890 Sierra Pacific Resources,
6.75%, 08/15/2017 M............................. 886
----------
Total corporate bonds: non-investment
(cost $36,535).................................. $ 24,630
----------
U.S. GOVERNMENT SECURITIES -- 15.4%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.4%
$ 8,800 Tennessee Valley Authority,
4.75%, 11/01/2025............................... $ 2,167
250 Federal Home Loan Bank,
7.51% 2007 K.................................... 257
----------
2,424
----------
U.S. TREASURY SECURITIES -- 15.0%
3,208 0.875% 2010 J..................................... 3,196
7,815 1.625% 2015 JH.................................... 7,797
6,770 1.875% 2015 JH.................................... 6,766
19,500 2.00% 2006 H...................................... 19,269
5,090 2.25% 2007........................................ 4,956
3,790 2.375% 2025 J..................................... 4,109
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
U.S. TREASURY SECURITIES -- (CONTINUED)
$ 22,159 2.50% 2006 H...................................... $ 21,941
600 3.625% 2007 H..................................... 593
326 3.875% 2010 H..................................... 317
6,135 4.00% 2015 H...................................... 5,866
1,586 4.125% 2010 -- 2015 H............................. 1,540
5,445 4.25% 2015 H...................................... 5,313
14,501 5.375% 2031 H..................................... 15,815
950 6.25% 2030........................................ 1,148
----------
98,626
----------
Total U.S. government securities
(cost $102,094)................................. $ 101,050
----------
U.S. GOVERNMENT AGENCIES -- 30.6%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 13.9%
$ 3,800 4.10% 2014........................................ $ 3,690
14,127 4.50% 2018........................................ 13,688
3,444 5.039% 2035....................................... 3,424
3,935 5.50% 2033 -- 2034................................ 3,889
47,380 5.50% 2035........................................ 46,758
18,986 6.00% 2032 -- 2035................................ 19,186
----------
90,635
----------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 11.7%
9,534 4.50% 2035........................................ 8,908
895 4.701% 2034....................................... 883
1,102 4.734% 2035....................................... 1,083
745 4.757% 2035....................................... 734
1,832 4.809% 2035....................................... 1,805
1,415 4.881% 2035....................................... 1,398
972 4.92% 2035........................................ 957
2,273 4.931% 2035....................................... 2,239
21,401 5.00% 2018 -- 2035I............................... 20,985
26,094 5.50% 2017 -- 2035I............................... 25,866
9,019 6.00% 2013 -- 2033................................ 9,124
1,798 6.50% 2031 -- 2034................................ 1,846
644 7.50% 2029 -- 2031................................ 681
----------
76,509
----------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 5.0%
13,036 5.00% 2033 -- 2035I............................... 12,728
9,944 5.50% 2033 -- 2035I............................... 9,936
4,914 6.00% 2032 -- 2034................................ 5,004
5,174 6.50% 2028 -- 2032................................ 5,371
----------
33,039
----------
Total U.S. government agencies
(cost $203,522)................................. $ 200,183
----------
Total long-term investments
(cost $616,269)................................. $ 606,776
----------
SHORT-TERM INVESTMENTS -- 33.9%
REPURCHASE AGREEMENTS -- 16.1%
$ 35,359 BNP Paribas Repurchase Agreement, 3.91%,
11/01/2005...................................... $ 35,359
35,359 RBS Greenwich Repurchase Agreement, 3.92%,
11/01/2005...................................... 35,359
</Table>
The accompanying notes are an integral part of these financial statements.
209
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- ----------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 34,449 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... $ 34,449
----------
105,167
----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITIES
LENDING -- 17.8%
116,756 Navigator Prime Portfolio......................... 116,756
----------
Total short-term investments
(cost $221,923)................................. $ 221,923
----------
Total investments in securities
(cost $838,192) O............................... $ 828,699
==========
</Table>
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 10.18% of total net assets at October 31, 2005.
Y All principal amounts are in U.S. dollars unless otherwise indicated.
EUR -- EURO
GBP -- British Pound
O At October 31, 2005, the cost of securities for federal income tax
purposes is $839,434 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 974
Unrealized depreciation........................ (11,709)
--------
Net unrealized depreciation.................... $(10,735)
========
</Table>
H Security is fully or partially on loan at October 31, 2005.
V The following securities are considered illiquid. Illiquid securities
are often purchased in private placement transactions, are not registered
under the Securities Act of 1933 and may have contractual restrictions on
resale. A security may also be considered illiquid if it lacks a readily
available market or if its valuation has not change for a certain period of
time.
<Table>
<Caption>
PERIOD
ACQUIRED SHARES/PAR SECURITY COST BASIS
-------- ---------- -------- ----------
4/2005-
10/2005 $ 8,900 Morgan Stanley Dean
Witter Capital I, 8.05%,
08/25/2032 -- Reg D $154
4/2005-
10/2005 12,535 Morgan Stanley Dean
Witter Capital I, 0%,
08/25/2032 -- 144A @@
</Table>
The aggregate value of these securities at October 31, 2005 was
$171, which represents 0.03% of total net assets.
M 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 qualified institutional
buyers. Pursuant to guidelines adopted by the Board of Directors, these
issues are determined to be liquid. The aggregate value of these securities
at October 31, 2005, was $47,210, which represents 7.21% of total net
assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at October 31, 2005.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
J 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.
W The interest rates disclosed for interest only strips represent
effective yields based upon estimated future cash flows at October 31,
2005.
I The cost of securities purchased on a when-issued basis at
October 31, 2005 was $60,513.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT OCTOBER 31, 2005
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
----------- ----------- ------ -------- ---------- --------------
British Pound Sell $9,468 $9,417 01/06/2006 ($51)
</Table>
@@ Due to the presentation of the financial statements in thousands, the
number of shares and/or dollars round to zero.
The accompanying notes are an integral part of these financial statements.
210
THE HARTFORD U.S. GOVERNMENT SECURITIES FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET AND COMMERCIAL MORTGAGE BACKED SECURITIES -- 4.5%
FINANCE -- 4.5%
$ 2,000 LB UBS Commercial Mortgage Trust,
4.74%, 02/15/2041............................... $ 1,924
3,000 Merrill Lynch Mortgage Trust,
4.747%, 05/01/2043.............................. 2,879
3,000 CS First Boston Mortgage Securities Corp.,
4.83%, 11/15/2037............................... 2,901
3,000 GMAC Commercial Mortgage Securities, Inc.,
4.86%, 12/10/2041............................... 2,909
--------
Total asset and commercial mortgage backed
securities
(cost $11,102).................................. $ 10,613
--------
U.S. GOVERNMENT SECURITIES -- 22.4%
OTHER DIRECT FEDERAL OBLIGATIONS -- 6.8%
Federal Home Loan Bank
$ 7,860 4.50% 2010........................................ $ 7,744
7,750 5.75% 2012........................................ 8,140
--------
15,884
--------
U.S. TREASURY SECURITIES 15.6%
15,150 1.625% 2015 J..................................... 15,116
7,500 3.00% 2012 J...................................... 8,760
8,190 4.25% 2015 H...................................... 7,992
4,500 5.00% 2011 H...................................... 4,617
--------
36,485
--------
Total U.S. government securities
(cost $53,639).................................. $ 52,369
--------
U.S. GOVERNMENT AGENCIES -- 70.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 25.1%
MORTGAGE BACKED SECURITIES:
$ 3,610 5.50% 2032........................................ $ 3,572
9,622 6.00% 2032........................................ 9,783
84 7.00% 2029 -- 2031................................ 88
121 9.00% 2022........................................ 132
92 11.50% 2015 -- 2019............................... 101
107 11.75% 2010 -- 2011............................... 116
21 12.50% 2019....................................... 23
--------
13,815
--------
NOTES:
15,000 5.25% 2012........................................ 14,741
--------
REMIC-PACS:
9,292 6.00% 2017........................................ 9,540
--------
REMIC-Z BONDS:
20,089 6.50% 2032 [ ].................................... 20,729
--------
58,825
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 42.9%
MORTGAGE BACKED SECURITIES:
$11,122 5.50% 2015 -- 2032................................ $ 11,005
2,204 5.85% 2009........................................ 2,247
2,743 5.89% 2008........................................ 2,794
25,501 6.00% 2016 -- 2035................................ 25,749
1,325 6.01% 2009........................................ 1,355
1,058 6.36% 2008........................................ 1,082
1,120 6.50% 2013 -- 2015................................ 1,158
5,515 6.52% 2008........................................ 5,638
5,736 7.184% 2006....................................... 5,793
131 7.50% 2030........................................ 138
30 8.00% 2025........................................ 32
51 8.50% 2022........................................ 56
42 9.00% 2020........................................ 46
42 9.75% 2020........................................ 46
177 10.00% 2020....................................... 197
43 10.50% 2012 -- 2018............................... 47
13 10.75% 2013....................................... 13
244 11.00% 2015 -- 2020............................... 266
51 11.25% 2013....................................... 54
10 11.50% 2015....................................... 11
23 12.00% 2014....................................... 25
86 12.50% 2015....................................... 95
--------
57,847
--------
NOTES:
9,000 4.20% 2008........................................ 8,868
10,500 6.25% 2029........................................ 12,059
--------
20,927
--------
REMIC-PACS:
11,331 6.00% 2016........................................ 11,585
9,797 6.50% 2012 -- 2032................................ 10,068
--------
21,653
--------
100,427
--------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 2.8%
MORTGAGE BACKED SECURITIES:
607 6.00% 2034........................................ 616
4,949 6.50% 2031 -- 2032................................ 5,137
69 7.00% 2030........................................ 72
127 8.00% 2022........................................ 136
531 9.50% 2016 -- 2019................................ 586
38 11.00% 2015 -- 2018............................... 41
--------
6,588
--------
Total U.S. government agencies
(cost $166,391)................................. $165,840
--------
Total long-term investments
(cost $231,132)................................. $228,822
--------
</Table>
The accompanying notes are an integral part of these financial statements.
211
THE HARTFORD U.S. GOVERNMENT SECURITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
v
SHORT-TERM INVESTMENTS -- 6.3%
REPURCHASE AGREEMENTS -- 1.5%
$ 1,207 BNP Paribas Repurchase Agreement,
3.91%, 11/01/2005............................... $ 1,207
1,207 RBS Greenwich Repurchase Agreement,
3.92%, 11/01/2005............................... 1,207
1,176 UBS Warburg Securities, Inc. Repurchase Agreement,
3.92%, 11/01/2005............................... 1,176
--------
3,590
--------
SHARES
-------
V SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 4.8%
11,265 BNY Institutional Cash Reserve Fund............... $ 11,265
--------
Total short-term investments
(cost $14,855).................................. $ 14,855
--------
Total investments in securities
(cost $245,987) O............................... $243,677
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $245,987 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 1,376
Unrealized depreciation......................... (3,686)
-------
Net unrealized depreciation..................... $(2,310)
=======
</Table>
H Security is partially on loan at October 31, 2005.
J 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.
[ ] Z-Tranche securities pay no principal or interest during their initial
accrual period, but accrue additional principal at a specified coupon rate.
The interest rate disclosed represents the coupon rate at which the
additional principal is being accrued.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
212
THE HARTFORD VALUE FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 97.5%
BASIC MATERIALS -- 8.7%
89 Alcoa, Inc. ...................................... $ 2,154
40 Cameco Corp. ..................................... 1,917
47 Dow Chemical Co. ................................. 2,142
55 DuPont (E.I.) de Nemours & Co. ................... 2,297
45 Huntsman Corp. B.................................. 899
23 Kimberly-Clark Corp. ............................. 1,307
38 Precision Castparts Corp. ........................ 1,819
--------
12,535
--------
CAPITAL GOODS -- 7.0%
100 Caterpillar, Inc. ................................ 5,254
29 General Dynamics Corp. ........................... 3,314
28 Rockwell Automation, Inc. ........................ 1,462
--------
10,030
--------
CONSUMER CYCLICAL -- 4.2%
73 Dollar General Corp. ............................. 1,412
43 McDonald's Corp. ................................. 1,368
23 NIKE, Inc. Class B................................ 1,916
60 Safeway, Inc. .................................... 1,398
--------
6,094
--------
CONSUMER STAPLES -- 5.0%
50 Campbell Soup Co. ................................ 1,443
53 Kellogg Co. ...................................... 2,341
57 PepsiCo, Inc. .................................... 3,350
--------
7,134
--------
ENERGY -- 13.2%
81 ConocoPhillips.................................... 5,309
113 Exxon Mobil Corp. ................................ 6,350
88 GlobalSantaFe Corp. .............................. 3,925
43 Occidental Petroleum Corp. ....................... 3,352
--------
18,936
--------
FINANCE -- 29.8%
28 ACE Ltd. ......................................... 1,438
27 Allstate Corp. ................................... 1,425
61 American International Group, Inc. ............... 3,972
129 Bank of America Corp. ............................ 5,660
25 Chubb Corp. ...................................... 2,334
131 Citigroup, Inc. .................................. 5,974
46 Golden West Financial Corp. ...................... 2,696
28 Goldman Sachs Group, Inc. ........................ 3,564
53 J.P. Morgan Chase & Co. .......................... 1,923
54 National City Corp. .............................. 1,740
18 PNC Financial Services Group, Inc. ............... 1,062
31 Principal Financial Group, Inc. .................. 1,514
18 SunTrust Banks, Inc. ............................. 1,334
62 U.S. Bancorp...................................... 1,819
14 Washington Mutual, Inc. .......................... 545
54 Wellpoint, Inc. B................................. 4,040
32 Wells Fargo & Co. ................................ 1,920
--------
42,960
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
HEALTH CARE -- 7.4%
55 Baxter International, Inc. ....................... $ 2,102
166 CVS Corp. ........................................ 4,045
76 Pfizer, Inc. ..................................... 1,649
64 Wyeth............................................. 2,861
--------
10,657
--------
SERVICES -- 1.4%
75 Comcast Corp. Class A B........................... 2,073
--------
TECHNOLOGY -- 9.2%
84 Applied Materials, Inc. .......................... 1,381
46 AT&T Corp. ....................................... 918
13 Beckman Coulter, Inc. ............................ 660
123 BellSouth Corp. .................................. 3,187
14 Lam Research Corp. B.............................. 462
47 Motorola, Inc. ................................... 1,044
85 SBC Communications, Inc. ......................... 2,025
77 Sprint Nextel Corp. .............................. 1,802
98 Time Warner, Inc. ................................ 1,740
--------
13,219
--------
TRANSPORTATION -- 2.5%
24 CSX Corp. ........................................ 1,113
157 Southwest Airlines Co. ........................... 2,515
--------
3,628
--------
UTILITIES -- 9.1%
32 Consolidated Edison, Inc. ........................ 1,438
31 Dominion Resources, Inc. ......................... 2,355
10 Entergy Corp. .................................... 672
40 Exelon Corp. ..................................... 2,065
31 FPL Group, Inc. .................................. 1,326
50 PPL Corp. ........................................ 1,567
7 Progress Energy, Inc. ............................ 314
35 SCANA Corp. ...................................... 1,369
21 Southern Co. ..................................... 717
12 TXU Corp. ........................................ 1,229
--------
13,052
--------
Total common stock
(cost $124,640)................................. $140,318
--------
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 3.1%
REPURCHASE AGREEMENTS -- 3.1%
$ 150 Bank of America Joint Repurchase Agreement,
3.92%, 11/01/2005............................... $ 150
1,656 Bank of America TriParty Joint Repurchase
Agreement,
4.03%, 11/01/2005............................... 1,656
</Table>
The accompanying notes are an integral part of these financial statements.
213
THE HARTFORD VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$1,060 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement,
4.03%, 11/01/2005............................... $ 1,060
1,569 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 1,569
--------
Total short-term investments
(cost $4,435)................................... $ 4,435
--------
Total investments in securities
(cost $129,075) O............................... $144,753
========
</Table>
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 1.33% of total net assets at October 31, 2005.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $129,229 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $18,718
Unrealized depreciation......................... (3,194)
-------
Net unrealized appreciation..................... $15,524
=======
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
214
THE HARTFORD VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 97.6%
BASIC MATERIALS -- 11.2%
12 Akzo Nobel N.V. + ................................ $ 537
12 Albemarle Corp. .................................. 425
229 Alcoa, Inc. ...................................... 5,567
33 Aracruz Celulose S.A. ADR......................... 1,252
27 Arch Coal, Inc. .................................. 2,112
36 Cytec Industries, Inc. ........................... 1,487
41 DuPont (E.I.) de Nemours & Co. ................... 1,713
4 Engelhard Corp. .................................. 120
4 Huntsman Corp. B.................................. 80
111 Michelin (C.G.D.E.) Class B + .................... 6,017
64 Pactiv Corp. B.................................... 1,257
276 Sappi Ltd. ADR.................................... 2,699
115 Smurfit-Stone Container Corp. B................... 1,214
39 Temple-Inland, Inc. .............................. 1,417
--------
25,897
--------
CAPITAL GOODS -- 3.9%
96 Goodrich Corp. ................................... 3,474
24 Parker-Hannifin Corp. ............................ 1,517
123 Teradyne, Inc. B.................................. 1,661
91 Tyco International Ltd. .......................... 2,388
--------
9,040
--------
CONSUMER CYCLICAL -- 10.4%
99 American Axle & Manufacturing Holdings, Inc. ..... 2,167
101 Arris Group, Inc. B............................... 835
77 Blockbuster, Inc. Class A H....................... 352
74 CBRL Group, Inc. ................................. 2,568
320 Foot Locker, Inc. ................................ 6,211
97 Lear Corp. ....................................... 2,964
77 Newell Rubbermaid, Inc. .......................... 1,766
198 Ruby Tuesday, Inc. ............................... 4,345
106 TRW Automotive Holdings Corp. B................... 2,855
--------
24,063
--------
ENERGY -- 7.3%
17 Devon Energy Corp. ............................... 1,051
18 Exxon Mobil Corp. ................................ 1,027
34 GlobalSantaFe Corp. .............................. 1,492
39 Marathon Oil Corp. ............................... 2,316
44 Noble Corp. ...................................... 2,833
53 Talisman Energy, Inc. ............................ 2,343
47 Total S.A. ADR.................................... 5,885
--------
16,947
--------
FINANCE -- 29.8%
107 ACE Ltd. ......................................... 5,596
9 Allstate Corp. ................................... 449
47 AMBAC Financial Group, Inc. ...................... 3,332
82 American International Group, Inc. ............... 5,294
267 Apollo Investment Corp. .......................... 4,987
163 Bank of America Corp. ............................ 7,124
90 Capital One Financial Corp. ...................... 6,887
96 CIT Group, Inc. .................................. 4,408
200 Citigroup, Inc. .................................. 9,159
33 Everest Re Group Ltd. ............................ 3,252
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
38 Federal Home Loan Mortgage Corp. ................. $ 2,307
34 Golden West Financial Corp. ...................... 1,997
234 MBNA Corp. ....................................... 5,971
79 Platinum Underwriters Holdings Ltd. .............. 2,262
23 Reinsurance Group of America...................... 1,029
30 RenaissanceRe Holdings Ltd. ADR................... 1,128
128 Royal Bank of Scotland Group plc + ............... 3,548
--------
68,730
--------
HEALTH CARE -- 8.8%
38 Coventry Health Care, Inc. B...................... 2,025
105 Endo Pharmaceuticals Holdings, Inc. B............. 2,827
93 GlaxoSmithKline plc + ............................ 2,411
48 GlaxoSmithKline plc ADR........................... 2,501
16 Lilly (Eli) & Co. ................................ 797
28 Pfizer, Inc. ..................................... 598
20 Sanofi-Aventis S.A. + ............................ 1,620
116 Sanofi-Aventis S.A. ADR........................... 4,646
64 Wyeth............................................. 2,859
--------
20,284
--------
SERVICES -- 5.0%
27 Comcast Corp. Class A B........................... 746
134 Comcast Corp. Special Class A B................... 3,662
106 Dex Media, Inc. .................................. 2,853
40 Liberty Global, Inc. Class A B.................... 987
49 Liberty Global, Inc. Class C B.................... 1,168
436 Unisys Corp. B.................................... 2,229
--------
11,645
--------
TECHNOLOGY -- 16.2%
86 Arrow Electronics, Inc. B......................... 2,547
276 Cinram International, Inc. ....................... 5,600
451 Cisco Systems, Inc. B............................. 7,877
149 Fairchild Semiconductor International, Inc. B..... 2,295
123 Flextronics International Ltd. B.................. 1,145
32 Lam Research Corp. B.............................. 1,090
112 Microsoft Corp. .................................. 2,868
16 QLogic Corp. B.................................... 477
148 Seagate Technology................................ 2,142
104 Sprint Nextel Corp. .............................. 2,430
90 Tektronix, Inc. .................................. 2,061
24 Telefonaktiebolaget LM Ericsson ADR............... 781
115 Time Warner, Inc. ................................ 2,049
47 Varian Semiconductor Equipment Associates, Inc.
B............................................... 1,774
60 Vishay Intertechnology, Inc. B.................... 677
19 Whirlpool Corp. .................................. 1,490
--------
37,303
--------
TRANSPORTATION -- 4.6%
50 AirTran Holdings, Inc. B.......................... 747
75 AMR Corp. BH...................................... 1,019
100 Continental Airlines, Inc. B...................... 1,291
52 Pinnacle Airlines Corp. B......................... 335
118 Yellow Roadway Corp. B............................ 5,376
</Table>
The accompanying notes are an integral part of these financial statements.
215
THE HARTFORD VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- (CONTINUED)
81 US Airways Group, Inc. +BV........................ $ 1,789
--------
10,557
--------
UTILITIES -- 0.4%
18 Constellation Energy Group, Inc. ................. 1,008
--------
Total common stock
(cost $218,509)................................. $225,474
--------
PREFERRED STOCKS -- 0.9%
ENERGY -- 0.9%
35 Petroleo Brasileiro S.A. ADR...................... $ 1,979
--------
Total preferred stocks
(cost $1,162)................................... $ 1,979
--------
Total long-term investments
(cost $219,671)................................. $227,453
--------
<Caption>
PRINCIPAL
AMOUNTS
- ---------
SHORT-TERM INVESTMENTS -- 1.5%
REPURCHASE AGREEMENTS -- 1.0%
$ 74 Bank of America Joint Repurchase Agreement, 3.92%,
11/01/2005...................................... $ 74
824 Bank of America TriParty Joint Repurchase
Agreement, 4.03%, 11/01/2005.................... 824
527 J.P. Morgan Chase TriParty Mortgage Repurchase
Agreement, 4.03%, 11/01/2005.................... 527
780 UBS Securities TriParty Repurchase Agreement,
4.03%, 11/01/2005............................... 780
--------
2,205
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 0.5%
$1,216 BNY Institutional Cash Reserve Fund............... $ 1,216
--------
Total short-term investments
(cost $3,421)................................... $ 3,421
--------
Total investments in securities
(cost $223,092) O............................... $230,874
========
</Table>
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 18.11% of total net assets at October 31, 2005.
+ The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at October 31,
2005, was $15,922, which represents 6.89% of total net assets.
O At October 31, 2005, the cost of securities for federal income tax
purposes is $223,179 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 18,547
Unrealized depreciation........................ (10,852)
--------
Net unrealized appreciation.................... $ 7,695
========
</Table>
B Currently non-income producing.
H Security is partially on loan at October 31, 2005.
V The following securities are considered illiquid. Illiquid securities
are often purchased in private placement transactions, are not registered
under the Securities Act of 1933 and may have contractual restrictions on
resale. A security may also be considered illiquid if it lacks a readily
available market or if its valuation has not changed for a certain period
of time.
<Table>
<Caption>
PERIOD COST
ACQUIRED SHARES SECURITY BASIS
-------- ------ -------- -----
5/2005-
10/2005 81 US Airways Group, Inc. -- Reg D $1,307
</Table>
The aggregate value of this security at October 31, 2005 was $1,789
which represents 0.77% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
The accompanying notes are an integral part of these financial statements.
216
(This page intentionally left blank)
217
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
AGGRESSIVE GROWTH
ADVISERS FUND ALLOCATION FUND
------------- -----------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 2,207,881 $ 109,790*
Cash(+).................................................... 53 --
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation on forward foreign currency
contracts................................................ 9 --
Receivables:
Investment securities sold............................... 21,456 --
Fund shares sold......................................... 336 1,216
Dividends and interest................................... 8,068 --
Variation margin......................................... -- --
Other assets............................................... 115 45
------------- -------------
Total assets................................................ 2,237,918 111,051
------------- -------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars............................. -- --
Bank overdraft -- foreign cash............................. -- --
Payable upon return of securities loaned (Note 2d)......... 282,738 --
Payables:
Investment securities purchased.......................... 20,213 --
Fund shares redeemed..................................... 4,616 46
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 206 4
Distribution fees (Note 3)............................... 163 11
Accrued expenses........................................... 629 30
Other liabilities.......................................... -- --
------------- -------------
Total liabilities........................................... 308,565 91
------------- -------------
Net assets.................................................. $ 1,929,353 $ 110,960
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 2,008,241 $ 105,192
Accumulated undistributed (distribution in excess of ) net
investment income (loss)................................... 2,060 --
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (193,178) 58
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 112,230 5,710
------------- -------------
Net assets.................................................. $ 1,929,353 $ 110,960
============= =============
Shares authorized........................................... 760,000 300,000
------------- -------------
Par value................................................... $ 0.001 $ 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $15.34/$16.23 $11.46/$12.13
------------- -------------
Shares outstanding.................................. 79,699 5,068
------------- -------------
Net assets.......................................... $ 1,222,944 $ 58,087
------------- -------------
CLASS B: Net asset value per share.......................... $ 15.19 $ 11.37
------------- -------------
Shares outstanding.................................. 28,798 1,772
------------- -------------
Net assets.......................................... $ 437,462 $ 20,155
------------- -------------
CLASS C: Net asset value per share.......................... $ 15.34 $ 11.37
------------- -------------
Shares outstanding.................................. 16,535 2,878
------------- -------------
Net assets.......................................... $ 253,605 $ 32,718
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS H: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS M: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS N: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS Y: Net asset value per share.......................... $ 15.50 --
------------- -------------
Shares outstanding.................................. 990 --
------------- -------------
Net assets.......................................... $ 15,342 --
------------- -------------
CLASS Z: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
@ Cost of securities........................................ $ 2,095,648 $ 104,080
------------- -------------
@ Market value of securities on loan........................ $ 276,056 $ --
------------- -------------
(+) Cash held as collateral on loaned securities.......... $ 50 $ --
------------- -------------
# Cost of foreign currency on deposit with custodian....... $ -- $ --
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
@@ 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.
218
- --------------------------------------------------------------------------------
<Table>
<Caption>
BALANCED ALLOCATION CAPITAL APPRECIATION CAPITAL APPRECIATION CONSERVATIVE ALLOCATION DISCIPLINED EQUITY DIVIDEND AND
FUND FUND II FUND FUND FUND GROWTH FUND
------------------- -------------------- -------------------- ----------------------- ------------------ -------------
$ 434,237* $ 10,471,468 $ 82,488 $ 111,924* $ 364,993 $ 2,940,229
-- 143 18 -- -- --
-- 2,872 -- -- -- --
-- 24 @@ -- -- --
-- 106,775 506 -- 6,675 14,103
4,900 26,574 2,012 621 56 2,012
22 7,191 57 10 204 3,564
-- -- -- -- -- --
43 248 116 35 34 99
------------- ------------- ------------- ------------- ------------- -------------
439,202 10,615,295 85,197 112,590 371,962 2,960,007
------------- ------------- ------------- ------------- ------------- -------------
-- 8 @@ -- -- --
-- -- -- -- 44 --
-- -- @@ -- -- --
-- 703,345 -- -- -- 91,818
-- 118,237 1,927 -- 6,333 15,542
330 5,763 34 42 592 2,335
-- -- -- -- -- --
14 1,045 13 4 47 295
39 806 6 10 20 188
74 3,276 67 23 127 818
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
457 832,480 2,047 79 7,163 110,996
------------- ------------- ------------- ------------- ------------- -------------
$ 438,745 $ 9,782,815 $ 83,150 $ 112,511 $ 364,799 $ 2,849,011
============= ============= ============= ============= ============= =============
$ 422,592 $ 7,640,765 $ 80,678 $ 109,814 $ 414,240 $ 2,391,758
559 7 -- 328 600 1,335
890 944,310 1,062 1,108 (80,906) 108,408
14,704 1,197,733 1,410 1,261 30,865 347,510
------------- ------------- ------------- ------------- ------------- -------------
$ 438,745 $ 9,782,815 $ 83,150 $ 112,511 $ 364,799 $ 2,849,011
============= ============= ============= ============= ============= =============
300,000 620,000 800,000 300,000 300,000 500,000
------------- ------------- ------------- ------------- ------------- -------------
$ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001
------------- ------------- ------------- ------------- ------------- -------------
$10.95/$11.59 $36.51/$38.63 $11.07/$11.71 $10.57/$11.19 $11.78/$12.47 $19.10/$20.21
------------- ------------- ------------- ------------- ------------- -------------
24,015 166,314 5,147 6,672 17,807 110,470
------------- ------------- ------------- ------------- ------------- -------------
$ 262,878 $ 6,071,891 $ 56,981 $ 70,533 $ 209,721 $ 2,109,617
------------- ------------- ------------- ------------- ------------- -------------
$ 10.92 $ 33.90 $ 11.02 $ 10.56 $ 11.25 $ 18.84
------------- ------------- ------------- ------------- ------------- -------------
6,649 48,125 575 1,375 3,539 18,242
------------- ------------- ------------- ------------- ------------- -------------
$ 72,619 $ 1,631,199 $ 6,343 $ 14,525 $ 39,806 $ 343,650
------------- ------------- ------------- ------------- ------------- -------------
$ 10.92 $ 34.00 $ 11.04 $ 10.56 $ 11.26 $ 18.81
------------- ------------- ------------- ------------- ------------- -------------
9,455 53,962 1,766 2,599 2,991 14,939
------------- ------------- ------------- ------------- ------------- -------------
$ 103,248 $ 1,834,562 $ 19,494 $ 27,453 $ 33,690 $ 280,967
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- $ 38.47 $ 11.08 -- $ 12.12 $ 19.30
------------- ------------- ------------- ------------- ------------- -------------
-- 6,373 30 -- 6,729 5,947
------------- ------------- ------------- ------------- ------------- -------------
-- $ 245,163 $ 332 -- $ 81,582 $ 114,777
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- -------------
$ 419,533 $ 9,273,701 $ 81,078 $ 110,663 $ 334,128 $ 2,592,719
------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 671,860 $ -- $ -- $ -- $ 90,656
------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 9 $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 2,855 $ @@ $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- -------------
</Table>
219
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
EQUITY INCOME FUND FLOATING RATE FUND
------------------ ------------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 474,993 $ 288,747
Cash(+).................................................... 1 1
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation on forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... 1,866 503
Fund shares sold......................................... 617 11,847
Dividends and interest................................... 841 1,582
Variation margin......................................... -- --
Other assets............................................... 137 113
------------- -------------
Total assets................................................ 478,455 302,793
------------- -------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars............................. -- --
Bank overdraft -- foreign cash#............................ -- --
Payable upon return of securities loaned (Note 2d)......... -- --
Payables:
Investment securities purchased.......................... 9,675 24,360
Fund shares redeemed..................................... 759 453
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 61 29
Distribution fees (Note 3)............................... 30 22
Accrued expenses........................................... 118 13
Other liabilities.......................................... -- --
------------- -------------
Total liabilities........................................... 10,643 24,877
------------- -------------
Net assets.................................................. $ 467,812 $ 277,916
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 436,234 $ 278,111
Accumulated undistributed (distribution in excess of ) net
investment income (loss)................................... 1,452 89
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. 1,267 --
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 28,859 (284)
------------- -------------
Net assets.................................................. $ 467,812 $ 277,916
============= =============
Shares authorized........................................... 300,000 800,000
------------- -------------
Par value................................................... $ 0.001 $ 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $12.09/$12.79 $10.09/$10.40
------------- -------------
Shares outstanding.................................. 31,391 16,796
------------- -------------
Net assets.......................................... $ 379,604 $ 169,485
------------- -------------
CLASS B: Net asset value per share.......................... $ 12.07 $ 10.08
------------- -------------
Shares outstanding.................................. 2,817 561
------------- -------------
Net assets.......................................... $ 33,989 $ 5,659
------------- -------------
CLASS C: Net asset value per share.......................... $ 12.08 $ 10.08
------------- -------------
Shares outstanding.................................. 4,424 9,195
------------- -------------
Net assets.......................................... $ 53,435 $ 92,710
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS H: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS M: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS N: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS Y: Net asset value per share.......................... $ 12.15 $ 10.08
------------- -------------
Shares outstanding.................................. 65 998
------------- -------------
Net assets.......................................... $ 784 $ 10,062
------------- -------------
CLASS Z: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
@ Cost of securities...................................... $ 446,134 $ 289,031
------------- -------------
@ Market value of securities on loan...................... $ -- $ --
------------- -------------
(+) Cash held as collateral on loaned securities............ $ -- $ --
------------- -------------
# Cost of foreign currency on deposit with custodian...... $ -- $ --
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
@@ 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.
220
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL GLOBAL FINANCIAL GLOBAL HEALTH GLOBAL LEADERS GLOBAL TECHNOLOGY
FOCUS FUND COMMUNICATIONS FUND SERVICES FUND FUND FUND FUND
------------- ------------------- ---------------- ------------------ -------------- ----------------------
$ 82,787 $ 25,250 $ 22,584 $ 599,384 $ 719,327 $ 52,500
1 -- 4 -- -- 1
@@ -- 4 -- 1 35
18 -- @@ -- -- 14
8,341 -- 21 4,163 30,160 1,103
2 99 @@ 1,204 50 6
125 42 19 696 979 29
-- -- -- -- -- --
26 24 27 240 111 35
------------- ----------- ------------- ------------- ------------- -----------
91,300 25,415 22,659 605,687 750,628 53,723
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- 40 --
-- -- -- -- 4,146 --
-- 30 -- -- -- --
-- 2,815 1,988 77,974 67,930 771
8,586 343 -- 3,723 22,002 1,065
223 1 3 431 1,828 144
-- -- -- -- -- --
14 3 3 85 88 8
7 2 2 32 41 5
37 17 15 157 384 51
-- -- 1 2 16 --
------------- ----------- ------------- ------------- ------------- -----------
8,867 3,211 2,012 82,404 96,475 2,044
------------- ----------- ------------- ------------- ------------- -----------
$ 82,433 $ 22,204 $ 20,647 $ 523,283 $ 654,153 $ 51,679
============= =========== ============= ============= ============= ===========
$ 88,425 $ 22,078 $ 17,900 $ 448,316 $ 612,882 $ 103,481
321 253 122 -- 918 --
(11,330) (3,771) (455) 30,485 3,058 (56,575)
5,017 3,644 3,080 44,482 37,295 4,773
------------- ----------- ------------- ------------- ------------- -----------
$ 82,433 $ 22,204 $ 20,647 $ 523,283 $ 654,153 $ 51,679
============= =========== ============= ============= ============= ===========
300,000 300,000 300,000 300,000 300,000 300,000
------------- ----------- ------------- ------------- ------------- -----------
$ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001
------------- ----------- ------------- ------------- ------------- -----------
$10.26/$10.86 $7.12/$7.53 $11.60/$12.28 $16.50/$17.46 $16.80/$17.78 $4.97/$5.26
------------- ----------- ------------- ------------- ------------- -----------
4,882 2,245 1,203 12,715 24,981 5,560
------------- ----------- ------------- ------------- ------------- -----------
$ 50,067 $ 15,986 $ 13,958 $ 209,835 $ 419,648 $ 27,620
------------- ----------- ------------- ------------- ------------- -----------
$ 9.94 $ 6.92 $ 11.39 $ 15.81 $ 15.93 $ 4.77
------------- ----------- ------------- ------------- ------------- -----------
1,525 407 276 4,505 4,958 2,604
------------- ----------- ------------- ------------- ------------- -----------
$ 15,156 $ 2,815 $ 3,147 $ 71,204 $ 78,986 $ 12,409
------------- ----------- ------------- ------------- ------------- -----------
$ 9.94 $ 6.91 $ 11.39 $ 15.81 $ 16.01 $ 4.77
------------- ----------- ------------- ------------- ------------- -----------
1,684 400 243 4,588 4,474 2,246
------------- ----------- ------------- ------------- ------------- -----------
$ 16,737 $ 2,765 $ 2,769 $ 72,546 $ 71,623 $ 10,712
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
$ 10.44 $ 7.27 $ 11.73 $ 17.05 $ 17.46 $ 5.09
------------- ----------- ------------- ------------- ------------- -----------
45 88 66 9,951 4,804 184
------------- ----------- ------------- ------------- ------------- -----------
$ 473 $ 638 $ 773 $ 169,698 $ 83,896 $ 938
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- --
------------- ----------- ------------- ------------- ------------- -----------
$ 77,773 $ 21,607 $ 19,504 $ 554,885 $ 682,030 $ 47,727
------------- ----------- ------------- ------------- ------------- -----------
$ -- $ 2,805 $ 1,890 $ 75,319 $ 64,091 $ 787
------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ----------- ------------- ------------- ------------- -----------
$ -- $ 29 $ 4 $ -- $ 1 $ 35
------------- ----------- ------------- ------------- ------------- -----------
</Table>
221
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH ALLOCATION
FUND GROWTH FUND
----------------- -------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 368,722* $ 1,266,863
Cash(+).................................................... -- @@
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation on forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... -- --
Fund shares sold......................................... 2,982 1,324
Dividends and interest................................... -- 481
Variation margin......................................... -- --
Other assets............................................... 56 132
------------- -------------
Total assets................................................ 371,760 1,268,800
------------- -------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars............................. -- --
Bank overdraft -- foreign cash#............................ -- --
Payable upon return of securities loaned (Note 2d)......... -- 105,393
Payables:
Investment securities purchased.......................... -- 6,021
Fund shares redeemed..................................... 228 984
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 12 139
Distribution fees (Note 3)............................... 35 66
Accrued expenses........................................... 76 323
Other liabilities.......................................... -- --
------------- -------------
Total liabilities........................................... 351 112,926
------------- -------------
Net assets.................................................. $ 371,409 $ 1,155,874
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 354,603 $ 1,062,995
Accumulated undistributed (distribution in excess of ) net
investment income (loss)................................... -- --
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. 318 (7,544)
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 16,488 100,423
------------- -------------
Net assets.................................................. $ 371,409 $ 1,155,874
============= =============
Shares authorized........................................... 300,000 21,000,000
------------- -------------
Par value................................................... $ 0.001 $ 0.0001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $11.27/$11.93 $17.32/$18.33
------------- -------------
Shares outstanding.................................. 18,222 36,666
------------- -------------
Net assets.......................................... $ 205,331 $ 635,057
------------- -------------
CLASS B: Net asset value per share.......................... $ 11.19 $ 15.38
------------- -------------
Shares outstanding.................................. 5,876 3,007
------------- -------------
Net assets.......................................... $ 65,739 $ 46,251
------------- -------------
CLASS C: Net asset value per share.......................... $ 11.19 $ 15.40
------------- -------------
Shares outstanding.................................. 8,970 5,355
------------- -------------
Net assets.......................................... $ 100,339 $ 82,481
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS H: Net asset value per share.......................... -- $ 15.53
------------- -------------
Shares outstanding.................................. -- 1,279
------------- -------------
Net assets.......................................... -- $ 19,852
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- $17.50/$18.37
------------- -------------
Shares outstanding.................................. -- 16,898
------------- -------------
Net assets.......................................... -- $ 295,731
------------- -------------
CLASS M: Net asset value per share.......................... -- $ 15.51
------------- -------------
Shares outstanding.................................. -- 1,234
------------- -------------
Net assets.......................................... -- $ 19,133
------------- -------------
CLASS N: Net asset value per share.......................... -- $ 15.51
------------- -------------
Shares outstanding.................................. -- 282
------------- -------------
Net assets.......................................... -- $ 4,377
------------- -------------
CLASS Y: Net asset value per share.......................... -- $ 17.65
------------- -------------
Shares outstanding.................................. -- 3,003
------------- -------------
Net assets.......................................... -- $ 52,992
------------- -------------
CLASS Z: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
@ Cost of securities........................................ $ 352,234 $ 1,166,440
------------- -------------
@ Market value of securities on loan........................ $ -- $ 104,823
------------- -------------
(+) Cash held as collateral on loaned securities........... $ -- $ --
------------- -------------
# Cost of foreign currency on deposit with custodian....... $ -- $ --
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
@@ 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.
222
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH INCOME ALLOCATION INFLATION PLUS INTERNATIONAL CAPITAL
OPPORTUNITIES FUND HIGH YIELD FUND FUND INCOME FUND FUND APPRECIATION FUND
------------------ --------------- ----------------- ------------- -------------- ---------------------
$ 1,082,196 $ 366,234 $ 31,787* $ 56,243 $ 948,213 $ 301,866
-- 62 -- 108 @@ 152
@@ 20 -- -- -- 552
-- -- -- -- -- 16
6,426 4,653 -- 177 46,954 3,370
719 32 136 54 6,136 553
808 6,641 8 800 6,109 388
-- -- -- -- -- --
257 31 25 29 87 78
------------- ----------- ------------ ------------- ------------- -------------
1,090,406 377,673 31,956 57,411 1,007,499 306,975
------------- ----------- ------------ ------------- ------------- -------------
-- -- -- 3 17 17
-- -- -- -- -- --
-- -- -- 94 178 --
126,302 57,292 -- -- -- 44,373
17,802 6,942 -- 483 2,540 4,368
330 657 8 314 612 173
-- -- -- -- -- --
114 39 1 6 94 42
48 24 3 3 98 14
198 130 10 20 183 117
-- -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
144,794 65,084 22 923 3,722 49,104
------------- ----------- ------------ ------------- ------------- -------------
$ 945,612 $ 312,589 $ 31,934 $ 56,488 $ 1,003,777 $ 257,871
============= =========== ============ ============= ============= =============
$ 772,856 $ 397,929 $ 32,597 $ 57,518 $ 1,006,404 $ 241,397
-- 291 8 18 852 961
68,139 (78,298) (2) (380) 662 2,022
104,617 (7,333) (669) (668) (4,141) 13,491
------------- ----------- ------------ ------------- ------------- -------------
$ 945,612 $ 312,589 $ 31,934 $ 56,488 $ 1,003,777 $ 257,871
============= =========== ============ ============= ============= =============
19,250,000 300,000 300,000 300,000 400,000 300,000
------------- ----------- ------------ ------------- ------------- -------------
$ 0.0001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001
------------- ----------- ------------ ------------- ------------- -------------
$27.84/$29.46 $7.76/$8.13 $9.89/$10.36 $10.24/$10.72 $10.67/$11.17 $12.14/$12.85
------------- ----------- ------------ ------------- ------------- -------------
7,998 24,306 1,967 2,826 38,883 10,822
------------- ----------- ------------ ------------- ------------- -------------
$ 222,682 $ 188,599 $ 19,445 $ 28,942 $ 414,778 $ 131,430
------------- ----------- ------------ ------------- ------------- -------------
$ 24.42 $ 7.74 $ 9.88 $ 10.24 $ 10.68 $ 11.77
------------- ----------- ------------ ------------- ------------- -------------
819 6,078 483 583 11,174 1,895
------------- ----------- ------------ ------------- ------------- -------------
$ 20,002 $ 47,071 $ 4,778 $ 5,973 $ 119,302 $ 22,304
------------- ----------- ------------ ------------- ------------- -------------
$ 24.42 $ 7.75 $ 9.88 $ 10.26 $ 10.67 $ 11.77
------------- ----------- ------------ ------------- ------------- -------------
771 6,572 780 501 35,030 2,505
------------- ----------- ------------ ------------- ------------- -------------
$ 18,842 $ 50,945 $ 7,711 $ 5,142 $ 373,750 $ 29,486
------------- ----------- ------------ ------------- ------------- -------------
-- -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
-- -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
-- -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 24.67 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
1,520 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 37,499 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$28.17/$29.57 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
19,756 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 556,462 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 24.63 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
905 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 22,299 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 24.63 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
215 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 5,297 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 28.37 $ 7.75 -- $ 10.24 $ 10.68 $ 12.33
------------- ----------- ------------ ------------- ------------- -------------
1,002 3,351 -- 1,605 8,981 6,052
------------- ----------- ------------ ------------- ------------- -------------
$ 28,441 $ 25,974 -- $ 16,431 $ 95,947 $ 74,651
------------- ----------- ------------ ------------- ------------- -------------
$ 29.37 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
1,160 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 34,088 -- -- -- -- --
------------- ----------- ------------ ------------- ------------- -------------
$ 977,576 $ 373,567 $ 32,456 $ 56,978 $ 952,336 $ 288,358
------------- ----------- ------------ ------------- ------------- -------------
$ 121,561 $ 55,199 $ -- $ -- $ -- $ 42,342
------------- ----------- ------------ ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ----------- ------------ ------------- ------------- -------------
@@ $ 21 $ -- $ 96 $ 178 $ 560
------------- ----------- ------------ ------------- ------------- -------------
</Table>
223
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL INTERNATIONAL SMALL
OPPORTUNITIES FUND COMPANY FUND
------------------ -------------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 172,816 $ 141,256
Cash(+).................................................... -- @@
Foreign currency on deposit with custodian#................ 40 9
Unrealized appreciation on forward foreign currency
contracts................................................ 5 2,574
Receivables:
Investment securities sold............................... 4,946 45
Fund shares sold......................................... 151 424
Dividends and interest................................... 437 230
Variation margin......................................... -- --
Other assets............................................... 41 35
------------- -------------
Total assets................................................ 178,436 144,573
------------- -------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ 2 185
Bank overdraft -- U.S. Dollars............................. 20 --
Bank overdraft -- foreign cash#............................ -- --
Payable upon return of securities loaned (Note 2d)......... 27,380 24,212
Payables:
Investment securities purchased.......................... 1,943 421
Fund shares redeemed..................................... 108 225
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 21 19
Distribution fees (Note 3)............................... 11 5
Accrued expenses........................................... 110 67
Other liabilities.......................................... -- --
------------- -------------
Total liabilities........................................... 29,595 25,134
------------- -------------
Net assets.................................................. $ 148,841 $ 119,439
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 154,859 $ 101,841
Accumulated undistributed (distribution in excess of ) net
investment income (loss)................................... 482 (157)
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (17,738) 12,895
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 11,238 4,860
------------- -------------
Net assets.................................................. $ 148,841 $ 119,439
============= =============
Shares authorized........................................... 300,000 300,000
------------- -------------
Par value................................................... $ 0.001 $ 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $13.13/$13.89 $14.27/$15.10
------------- -------------
Shares outstanding.................................. 7,801 2,446
------------- -------------
Net assets.......................................... $ 102,393 $ 34,896
------------- -------------
CLASS B: Net asset value per share.......................... $ 12.35 $ 13.91
------------- -------------
Shares outstanding.................................. 1,939 439
------------- -------------
Net assets.......................................... $ 23,940 $ 6,101
------------- -------------
CLASS C: Net asset value per share.......................... $ 12.27 $ 13.78
------------- -------------
Shares outstanding.................................. 1,377 916
------------- -------------
Net assets.......................................... $ 16,896 $ 12,614
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS H: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS M: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS N: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
CLASS Y: Net asset value per share.......................... $ 13.55 $ 14.41
------------- -------------
Shares outstanding.................................. 414 4,569
------------- -------------
Net assets.......................................... $ 5,612 $ 65,828
------------- -------------
CLASS Z: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
@ Cost of securities........................................ $ 161,581 $ 138,784
------------- -------------
@ Market value of securities on loan........................ $ 24,495 $ 22,966
------------- -------------
(+) Cash held as collateral on loaned securities........... $ -- $ --
------------- -------------
# Cost of foreign currency on deposit with custodian........ $ 38 $ 8
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
@@ 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.
224
- --------------------------------------------------------------------------------
<Table>
<Caption>
MIDCAP VALUE MONEY MARKET RETIREMENT INCOME SELECT MIDCAP SELECT MIDCAP
MIDCAP FUND FUND FUND FUND GROWTH FUND VALUE FUND
------------- ------------- ------------ ----------------- ------------- -------------
$ 3,065,174 $ 451,654 $ 247,394 $ 34* $ 19,373 $ 26,924
1 -- -- -- 12 938
@@ -- -- -- -- --
-- 6 -- -- -- --
20,222 3,202 -- -- 157 202
790 720 296 @@ 244 504
926 132 424 @@ 4 14
-- -- -- -- -- --
55 37 25 43 51 58
------------- ------------- ----------- ------------ ------------- -------------
3,087,168 455,751 248,139 77 19,841 28,640
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
279,887 10,823 -- -- -- --
23,035 3,222 -- -- 514 1,060
2,511 272 -- -- 5 --
-- -- -- -- -- --
331 61 20 @@ 3 4
224 31 16 @@ 1 2
903 171 175 @@ 18 11
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
306,891 14,580 211 @@ 541 1,077
------------- ------------- ----------- ------------ ------------- -------------
$ 2,780,277 $ 441,171 $ 247,928 $ 77 $ 19,300 $ 27,563
============= ============= =========== ============ ============= =============
$ 1,857,777 $ 355,662 $ 247,928 $ 78 $ 18,882 $ 26,420
-- -- -- @@ -- 1
472,662 43,728 -- (1) 82 609
449,838 41,781 -- @@ 336 533
------------- ------------- ----------- ------------ ------------- -------------
$ 2,780,277 $ 441,171 $ 247,928 $ 77 $ 19,300 $ 27,563
============= ============= =========== ============ ============= =============
460,000 300,000 2,700,000 800,000 800,000 800,000
------------- ------------- ----------- ------------ ------------- -------------
$ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001 $ 0.001
------------- ------------- ----------- ------------ ------------- -------------
$26.32/$27.85 $13.29/$14.06 $1.00/$1.00 $9.87/$10.44 $10.14/$10.73 $10.79/$11.42
------------- ------------- ----------- ------------ ------------- -------------
63,731 21,126 182,308 5 1,478 2,078
------------- ------------- ----------- ------------ ------------- -------------
$ 1,677,327 $ 280,662 $ 182,308 $ 47 $ 14,995 $ 22,423
------------- ------------- ----------- ------------ ------------- -------------
$ 24.77 $ 12.85 $ 1.00 $ 9.87 $ 10.08 $ 10.75
------------- ------------- ----------- ------------ ------------- -------------
18,742 4,620 30,716 1 233 159
------------- ------------- ----------- ------------ ------------- -------------
$ 464,175 $ 59,350 $ 30,716 $ 10 $ 2,354 $ 1,714
------------- ------------- ----------- ------------ ------------- -------------
$ 24.86 $ 12.85 $ 1.00 $ 9.87 $ 10.08 $ 10.75
------------- ------------- ----------- ------------ ------------- -------------
20,096 4,762 18,790 1 173 268
------------- ------------- ----------- ------------ ------------- -------------
$ 499,502 $ 61,194 $ 18,790 $ 10 $ 1,741 $ 2,885
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
$ 27.42 $ 13.59 $ 1.00 $ 9.86 $ 10.17 $ 10.81
------------- ------------- ----------- ------------ ------------- -------------
5,080 2,941 16,114 1 21 50
------------- ------------- ----------- ------------ ------------- -------------
$ 139,273 $ 39,965 $ 16,114 $ 10 $ 210 $ 541
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
-- -- -- -- -- --
------------- ------------- ----------- ------------ ------------- -------------
$ 2,615,336 $ 409,874 $ 247,394 $ 34 $ 19,037 $ 26,391
------------- ------------- ----------- ------------ ------------- -------------
$ 273,259 $ 10,805 $ -- $ -- $ -- $ --
------------- ------------- ----------- ------------ ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ----------- ------------ ------------- -------------
@@ $ -- $ -- $ -- $ -- $ --
------------- ------------- ----------- ------------ ------------- -------------
</Table>
225
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT SMALLCAP SHORT DURATION
GROWTH FUND FUND
--------------- -------------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 5,755 $ 141,702
Cash(+).................................................... -- 1
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation on forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... 68 --
Fund shares sold......................................... -- 591
Dividends and interest................................... 2 1,412
Variation margin......................................... -- --
Other assets............................................... 43 37
------------ ------------
Total assets................................................ 5,868 143,743
------------ ------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars............................. -- --
Bank overdraft -- foreign cash#............................ -- --
Payable upon return of securities loaned (Note 2d)......... -- --
Payables:
Investment securities purchased.......................... 54 --
Fund shares redeemed..................................... -- 256
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 1 13
Distribution fees (Note 3)............................... -- 6
Accrued expenses........................................... 1 30
Other liabilities.......................................... -- --
------------ ------------
Total liabilities........................................... 56 305
------------ ------------
Net assets.................................................. $ 5,812 $ 143,438
============ ============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 6,062 $ 146,920
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... -- 6
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (18) (1,500)
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... (232) (1,988)
------------ ------------
Net assets.................................................. $ 5,812 $ 143,438
============ ============
Shares authorized........................................... 800,000 300,000
------------ ------------
Par value................................................... $ 0.001 $ 0.001
------------ ------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $9.58/$10.14 $9.85/$10.15
------------ ------------
Shares outstanding.................................. 545 2,965
------------ ------------
Net assets.......................................... $ 5,217 $ 29,212
------------ ------------
CLASS B: Net asset value per share.......................... $ 9.57 $ 9.85
------------ ------------
Shares outstanding.................................. 21 895
------------ ------------
Net assets.......................................... $ 199 $ 8,814
------------ ------------
CLASS C: Net asset value per share.......................... $ 9.57 $ 9.85
------------ ------------
Shares outstanding.................................. 21 2,332
------------ ------------
Net assets.......................................... $ 204 $ 22,973
------------ ------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
CLASS H: Net asset value per share.......................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
CLASS M: Net asset value per share.......................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
CLASS N: Net asset value per share.......................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
CLASS Y: Net asset value per share.......................... $ 9.58 $ 9.84
------------ ------------
Shares outstanding.................................. 20 8,378
------------ ------------
Net assets.......................................... $ 192 $ 82,439
------------ ------------
CLASS Z: Net asset value per share.......................... -- --
------------ ------------
Shares outstanding.................................. -- --
------------ ------------
Net assets.......................................... -- --
------------ ------------
@ Cost of securities........................................ $ 5,987 $ 143,690
------------ ------------
@ Market value of securities on loan........................ $ -- $ --
------------ ------------
(+) Cash held as collateral on loaned securities........... $ -- $ --
------------ ------------
# Cost of foreign currency on deposit with custodian....... $ -- $ --
------------ ------------
</Table>
* Relates to investments in affiliated investment companies.
@@ 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.
226
- --------------------------------------------------------------------------------
<Table>
<Caption>
SMALL COMPANY SMALLCAP GROWTH TARGET RETIREMENT TARGET RETIREMENT TARGET RETIREMENT
FUND FUND STOCK FUND 2010 FUND 2020 FUND 2030 FUND
------------- --------------- ------------- ----------------- ----------------- -----------------------------
$ 389,193 $ 339,236 $ 1,396,933 $ 37* $ 131* $ 35*
8 1 2 -- -- --
@@ -- @@ -- -- --
8 -- 9 -- -- --
8,265 311 21,053 -- -- --
29 1,736 302 @@ @@ @@
92 31 1,153 -- -- --
-- 97 -- -- -- --
50 62 121 43 43 43
------------- ------------- ------------- ------------ ------------ ------------
397,645 341,474 1,419,573 80 174 78
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
79,321 31,220 99,899 -- -- --
13,657 29 19,225 -- -- --
389 73 3,488 -- -- --
-- -- -- -- -- --
42 42 154 @@ @@ @@
23 19 105 @@ @@ @@
134 68 600 (39) @@ (39)
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
93,566 31,451 123,471 (39) @@ (39)
------------- ------------- ------------- ------------ ------------ ------------
$ 304,079 $ 310,023 $ 1,296,102 $ 41 $ 174 $ 39
============= ============= ============= ============ ============ ============
$ 290,800 $ 318,008 $ 1,707,430 $ 42 $ 174 $ 40
@@ -- 2,294 @@ @@ @@
(37,555) (28,384) (500,848) @@ (1) @@
50,834 20,399 87,226 (1) 1 (1)
------------- ------------- ------------- ------------ ------------ ------------
$ 304,079 $ 310,023 $ 1,296,102 $ 41 $ 174 $ 39
============= ============= ============= ============ ============ ============
300,000 21,000,000 300,000 800,000 800,000 800,000
------------- ------------- ------------- ------------ ------------ ------------
$ 0.001 $ 0.0001 $ 0.001 $ 0.001 $ 0.001 $ 0.001
------------- ------------- ------------- ------------ ------------ ------------
$18.45/$19.52 $28.30/$29.95 $18.39/$19.46 $9.82/$10.39 $9.79/$10.36 $9.75/$10.32
------------- ------------- ------------- ------------ ------------ ------------
8,650 2,346 39,549 1 15 1
------------- ------------- ------------- ------------ ------------ ------------
$ 159,577 $ 66,403 $ 727,492 $ 11 $ 144 $ 10
------------- ------------- ------------- ------------ ------------ ------------
$ 17.20 $ 25.57 $ 17.23 $ 9.82 $ 9.78 $ 9.74
------------- ------------- ------------- ------------ ------------ ------------
3,294 635 16,159 1 1 1
------------- ------------- ------------- ------------ ------------ ------------
$ 56,664 $ 16,230 $ 278,445 $ 10 $ 10 $ 10
------------- ------------- ------------- ------------ ------------ ------------
$ 17.22 $ 25.56 $ 17.35 $ 9.82 $ 9.78 $ 9.74
------------- ------------- ------------- ------------ ------------ ------------
2,588 613 10,526 1 1 1
------------- ------------- ------------- ------------ ------------ ------------
$ 44,564 $ 15,668 $ 182,587 $ 10 $ 10 $ 9
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 25.69 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- 594 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 15,245 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $28.36/$29.77 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- 4,200 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 119,114 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 25.66 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- 603 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 15,461 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 25.69 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- 232 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- $ 5,969 -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
$ 19.33 $ 28.74 $ 19.18 $ 9.83 $ 9.79 $ 9.75
------------- ------------- ------------- ------------ ------------ ------------
2,238 1,946 5,608 1 1 1
------------- ------------- ------------- ------------ ------------ ------------
$ 43,274 $ 55,933 $ 107,578 $ 10 $ 10 $ 10
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
-- -- -- -- -- --
------------- ------------- ------------- ------------ ------------ ------------
$ 338,359 $ 318,749 $ 1,309,704 $ 38 $ 130 $ 36
------------- ------------- ------------- ------------ ------------ ------------
$ 77,023 $ 30,852 $ 98,106 $ -- $ -- $ --
------------- ------------- ------------- ------------ ------------ ------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------ ------------ ------------
$ @@ $ -- $ @@ $ -- $ -- $ --
------------- ------------- ------------- ------------ ------------ ------------
</Table>
227
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
OCTOBER 31, 2005 (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE CALIFORNIA TAX-FREE MINNESOTA
FUND FUND
------------------- ------------------
ASSETS:
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 18,396 $ 35,327
Cash(+).................................................... 368 --
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation on forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... -- --
Fund shares sold......................................... 10 77
Dividends and interest................................... 253 488
Variation margin......................................... -- --
Other assets............................................... 5 12
------------- -------------
Total assets................................................ 19,032 35,904
------------- -------------
LIABILITIES:
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars............................. -- --
Bank overdraft -- foreign cash#............................ -- --
Payable upon return of securities loaned (Note 2d)......... -- --
Payables:
Investment securities purchased.......................... 178 --
Fund shares redeemed..................................... -- --
Dividends................................................ -- --
Investment advisory and management fees (Note 3)......... 2 4
Distribution fees (Note 3)............................... 1 1
Accrued expenses........................................... 8 10
Other liabilities.......................................... -- --
------------- -------------
Total liabilities........................................... 189 15
------------- -------------
Net assets.................................................. $ 18,843 $ 35,889
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 18,447 $ 34,488
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... 3 1
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. 12 57
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 381 1,343
------------- -------------
Net assets.................................................. $ 18,843 $ 35,889
============= =============
Shares authorized........................................... 300,000 19,250,000
------------- -------------
Par value................................................... $ 0.001 $ 0.0001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share........................................... $10.32/$10.81 $10.22/$10.70
------------- -------------
Shares outstanding.................................. 1,512 543
------------- -------------
Net assets.......................................... $ 15,601 $ 5,547
------------- -------------
CLASS B: Net asset value per share.......................... $ 10.31 $ 10.23
------------- -------------
Shares outstanding.................................. 127 80
------------- -------------
Net assets.......................................... $ 1,305 $ 814
------------- -------------
CLASS C: Net asset value per share.......................... $ 10.33 $ 10.25
------------- -------------
Shares outstanding.................................. 188 41
------------- -------------
Net assets.......................................... $ 1,937 $ 418
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share........................................... -- $10.28/$10.76
------------- -------------
Shares outstanding.................................. -- 2,508
------------- -------------
Net assets.......................................... -- $ 25,770
------------- -------------
CLASS H: Net asset value per share.......................... -- $ 10.28
------------- -------------
Shares outstanding.................................. -- 11
------------- -------------
Net assets.......................................... -- $ 116
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share........................................... -- $10.25/$10.73
------------- -------------
Shares outstanding.................................. -- 282
------------- -------------
Net assets.......................................... -- $ 2,890
------------- -------------
CLASS M: Net asset value per share.......................... -- $ 10.27
------------- -------------
Shares outstanding.................................. -- 12
------------- -------------
Net assets.......................................... -- $ 127
------------- -------------
CLASS N: Net asset value per share.......................... -- $ 10.27
------------- -------------
Shares outstanding.................................. -- 19
------------- -------------
Net assets.......................................... -- $ 197
------------- -------------
CLASS Y: Net asset value per share.......................... -- $ 10.22
------------- -------------
Shares outstanding.................................. -- 1
------------- -------------
Net assets.......................................... -- $ 10
------------- -------------
CLASS Z: Net asset value per share.......................... -- --
------------- -------------
Shares outstanding.................................. -- --
------------- -------------
Net assets.......................................... -- --
------------- -------------
@ Cost of securities........................................ $ 18,015 $ 33,984
------------- -------------
@ Market value of securities on loan........................ $ -- $ --
------------- -------------
(+) Cash held as collateral on loaned securities.......... $ -- $ --
------------- -------------
# Cost of foreign currency on deposit with custodian........ $ -- $ --
------------- -------------
</Table>
+ Investments in repurchase agreements were $105,167.
* Relates to investments in affiliated investment companies.
@@ 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.
228
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE NATIONAL TAX-FREE NEW YORK TOTAL RETURN BOND U.S. GOVERNMENT VALUE OPPORTUNITIES
FUND FUND FUND SECURITIES FUND VALUE FUND FUND
----------------- ----------------- ----------------- --------------- ------------- -------------------
$ 101,573 $ 15,110 $ 828,699+ $ 243,677 $ 144,753 $ 230,874
-- 329 3,297 @@ -- --
-- -- 419 -- -- 2
-- -- -- -- -- --
25 -- 15,188 3 -- 1,766
285 9 2,138 46 97 673
1,556 229 5,013 2,106 198 79
-- -- -- -- -- --
41 6 48 172 27 50
------------- ------------- ------------- ----------- ------------- -------------
103,480 15,683 854,802 246,004 145,075 233,444
------------- ------------- ------------- ----------- ------------- -------------
-- -- 51 -- -- --
-- -- -- -- -- 2
-- -- -- -- -- --
-- -- 116,756 11,265 -- 1,216
812 -- 82,523 -- 973 1,167
42 -- 405 664 72 39
-- -- -- -- -- --
13 2 67 28 19 33
5 1 38 10 6 10
20 7 182 61 41 51
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
892 10 200,022 12,028 1,111 2,518
------------- ------------- ------------- ----------- ------------- -------------
$ 102,588 $ 15,673 $ 654,780 $ 233,976 $ 143,964 $ 230,926
============= ============= ============= =========== ============= =============
$ 98,238 $ 15,301 $ 660,875 $ 248,777 $ 129,083 $ 215,383
21 4 673 90 859 397
698 32 2,778 (12,581) (1,656) 7,364
3,631 336 (9,546) (2,310) 15,678 7,782
------------- ------------- ------------- ----------- ------------- -------------
$ 102,588 $ 15,673 $ 654,780 $ 233,976 $ 143,964 $ 230,926
============= ============= ============= =========== ============= =============
19,250,000 300,000 300,000 19,250,000 300,000 21,000,000
------------- ------------- ------------- ----------- ------------- -------------
$ 0.0001 $ 0.001 $ 0.001 $ 0.0001 $ 0.001 $ 0.0001
------------- ------------- ------------- ----------- ------------- -------------
$11.13/$11.65 $10.32/$10.81 $10.62/$11.12 $9.32/$9.76 $10.79/$11.42 $15.56/$16.47
------------- ------------- ------------- ----------- ------------- -------------
4,148 1,085 29,329 5,073 5,876 4,264
------------- ------------- ------------- ----------- ------------- -------------
$ 46,163 $ 11,202 $ 311,557 $ 47,252 $ 63,417 $ 66,368
------------- ------------- ------------- ----------- ------------- -------------
$ 11.06 $ 10.32 $ 10.57 $ 9.27 $ 10.62 $ 14.56
------------- ------------- ------------- ----------- ------------- -------------
623 174 7,667 2,293 950 932
------------- ------------- ------------- ----------- ------------- -------------
$ 6,889 $ 1,794 $ 81,028 $ 21,268 $ 10,091 $ 13,560
------------- ------------- ------------- ----------- ------------- -------------
$ 11.09 $ 10.32 $ 10.64 $ 9.27 $ 10.62 $ 14.56
------------- ------------- ------------- ----------- ------------- -------------
766 259 6,961 1,039 964 910
------------- ------------- ------------- ----------- ------------- -------------
$ 8,496 $ 2,677 $ 74,039 $ 9,631 $ 10,238 $ 13,258
------------- ------------- ------------- ----------- ------------- -------------
$11.12/$11.64 -- -- $9.30/$9.74 -- --
------------- ------------- ------------- ----------- ------------- -------------
2,787 -- -- 11,332 -- --
------------- ------------- ------------- ----------- ------------- -------------
$ 30,993 -- -- $ 105,381 -- --
------------- ------------- ------------- ----------- ------------- -------------
$ 11.09 -- -- $ 9.26 -- $ 14.58
------------- ------------- ------------- ----------- ------------- -------------
26 -- -- 294 -- 319
------------- ------------- ------------- ----------- ------------- -------------
$ 290 -- -- $ 2,720 -- $ 4,645
------------- ------------- ------------- ----------- ------------- -------------
$11.10/$11.62 -- -- $9.31/$9.75 -- $15.58/$16.36
------------- ------------- ------------- ----------- ------------- -------------
717 -- -- 3,748 -- 1,776
------------- ------------- ------------- ----------- ------------- -------------
$ 7,958 -- -- $ 34,880 -- $ 27,674
------------- ------------- ------------- ----------- ------------- -------------
$ 11.09 -- -- $ 9.27 -- $ 14.57
------------- ------------- ------------- ----------- ------------- -------------
117 -- -- 297 -- 511
------------- ------------- ------------- ----------- ------------- -------------
$ 1,294 -- -- $ 2,756 -- $ 7,443
------------- ------------- ------------- ----------- ------------- -------------
$ 11.07 -- -- $ 9.26 -- $ 14.58
------------- ------------- ------------- ----------- ------------- -------------
45 -- -- 91 -- 137
------------- ------------- ------------- ----------- ------------- -------------
$ 495 -- -- $ 844 -- $ 2,004
------------- ------------- ------------- ----------- ------------- -------------
$ 11.11 -- $ 10.73 $ 9.32 $ 10.79 $ 15.74
------------- ------------- ------------- ----------- ------------- -------------
1 -- 17,530 992 5,581 6,098
------------- ------------- ------------- ----------- ------------- -------------
$ 10 -- $ 188,156 $ 9,244 $ 60,218 $ 95,974
------------- ------------- ------------- ----------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
$ 97,942 $ 14,774 $ 838,192 $ 245,987 $ 129,075 $ 223,092
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ 101,280 $ 11,040 $ -- $ 1,220
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ 422 $ -- $ -- $ 2
------------- ------------- ------------- ----------- ------------- -------------
</Table>
229
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
AGGRESSIVE GROWTH
ADVISERS ALLOCATION
FUND FUND*
-------- -----------------
INVESTMENT INCOME:
Dividends................................................. $ 33,698 $ 174
Interest.................................................. 31,312 --
Securities lending........................................ 439 --
Less: Foreign tax withheld................................ (149) --
-------- ------
Total investment income, net............................ 65,300 174
-------- ------
EXPENSES:
Investment management and advisory fees................... 14,425 136
Transfer agent fees....................................... 4,902 183
Distribution fees
Class A................................................. 3,550 88
Class B................................................. 5,018 135
Class C................................................. 3,010 192
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 91 1
Accounting services....................................... 447 7
Registration and filing fees.............................. 223 29
Board of Directors' fees.................................. 25 1
Other expenses............................................ 1,315 42
-------- ------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 33,006 814
Waivers and reimbursements................................ (349) (137)
Fees paid indirectly...................................... (264) @@
-------- ------
Total waivers, reimbursements and fees paid
indirectly............................................. (613) (137)
-------- ------
Total expenses, net..................................... 32,393 677
-------- ------
Net investment income (loss).............................. 32,907 (503)
-------- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 122,180 544
Net realized gain (loss) on futures and options
contracts............................................... 43 --
Net realized gain (loss) on foreign currency
transactions............................................ (63) --
-------- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 122,160 544
-------- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 3,393 4,848
Net unrealized appreciation (depreciation) of futures and
options contracts....................................... 26 --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... (3) --
-------- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... 3,416 4,848
-------- ------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 125,576 5,392
-------- ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $158,483 $4,889
======== ======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
230
- --------------------------------------------------------------------------------
<Table>
<Caption>
BALANCED CAPITAL CAPITAL CONSERVATIVE DISCIPLINED DIVIDEND
ALLOCATION APPRECIATION APPRECIATION II ALLOCATION EQUITY AND GROWTH
FUND* FUND FUND# FUND* FUND FUND
------------ --------------- --------------- ------------ ----------- ----------
$ 5,437 $ 123,529 $ 241 $2,520 $ 7,806 $ 64,923
-- 10,271 58 -- 75 2,620
-- 1,768 -- -- -- 50
-- (3,945) (9) -- -- (537)
------- ---------- ------ ------ ------- --------
5,437 131,623 290 2,520 7,881 67,056
------- ---------- ------ ------ ------- --------
584 56,767 227 177 2,929 17,693
384 19,424 45 79 936 5,685
433 12,975 40 143 591 5,119
487 15,907 17 102 436 3,468
702 16,130 48 212 379 2,892
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
2 2,600 106 1 13 16
29 1,716 5 9 73 556
59 705 6 29 53 263
3 100 @@ 1 5 37
160 4,158 13 61 180 1,385
------- ---------- ------ ------ ------- --------
2,843 130,482 507 814 5,595 37,114
(244) -- (96) (75) (115) --
@@ (3,137) @@ @@ (54) (251)
------- ---------- ------ ------ ------- --------
(244) (3,137) (96) (75) (169) (251)
------- ---------- ------ ------ ------- --------
2,599 127,345 411 739 5,426 36,863
------- ---------- ------ ------ ------- --------
2,838 4,278 (121) 1,781 2,455 30,193
------- ---------- ------ ------ ------- --------
890 1,123,212 1,148 1,108 30,065 114,099
-- 779 -- -- 381 --
-- (5,526) (1) -- -- --
------- ---------- ------ ------ ------- --------
890 1,118,465 1,147 1,108 30,446 114,099
------- ---------- ------ ------ ------- --------
11,897 270,376 1,410 354 5,083 102,952
-- -- -- -- (91) --
-- 4,251 @@ -- -- --
------- ---------- ------ ------ ------- --------
11,897 274,627 1,410 354 4,992 102,952
------- ---------- ------ ------ ------- --------
12,787 1,393,092 2,557 1,462 35,438 217,051
------- ---------- ------ ------ ------- --------
$15,625 $1,397,370 $2,436 $3,243 $37,893 $247,244
======= ========== ====== ====== ======= ========
</Table>
231
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
EQUITY FLOATING
INCOME RATE
FUND FUND#
------- --------
INVESTMENT INCOME:
Dividends................................................. $11,144 $ --
Interest.................................................. 203 3,091
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
------- ------
Total investment income, net............................ 11,347 3,091
------- ------
EXPENSES:
Investment management and advisory fees................... 3,118 335
Transfer agent fees....................................... 741 26
Distribution fees
Class A................................................. 777 81
Class B................................................. 277 13
Class C................................................. 507 151
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 12 2
Accounting services....................................... 78 10
Registration and filing fees.............................. 78 11
Board of Directors' fees.................................. 4 --
Other expenses............................................ 208 19
------- ------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 5,800 648
Waivers and reimbursements................................ (3,209) (385)
Fees paid indirectly...................................... (25) --
------- ------
Total waivers, reimbursements and fees paid
indirectly............................................. (3,234) (385)
------- ------
Total expenses, net..................................... 2,566 263
------- ------
Net investment income (loss).............................. 8,781 2,828
------- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 1,270 40
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
------- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 1,270 40
------- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 20,042 (284)
Net unrealized appreciation (depreciation) of futures and
options 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 AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... 20,042 (284)
------- ------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 21,312 (244)
------- ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $30,093 $2,584
======= ======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
232
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL GLOBAL GLOBAL GLOBAL GLOBAL
FOCUS COMMUNICATIONS FINANCIAL HEALTH LEADERS TECHNOLOGY
FUND FUND SERVICES FUND FUND FUND FUND
------- -------------- ------------- ------- -------- ----------
$ 2,150 $ 541 $ 494 $ 3,790 $ 12,894 $ 843
29 12 8 360 184 11
-- 15 6 140 490 11
(4) (31) (23) (178) (1,060) (14)
------- ------ ------ ------- -------- ------
2,175 537 485 4,112 12,508 851
------- ------ ------ ------- -------- ------
964 165 203 4,071 5,800 548
250 65 65 1,179 2,503 392
147 30 34 470 1,163 73
170 21 32 692 874 127
201 19 27 661 820 118
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
13 18 14 39 329 29
19 4 4 81 141 11
35 29 29 51 83 33
2 @@ -- 4 11 1
71 23 25 190 368 42
------- ------ ------ ------- -------- ------
1,872 374 433 7,438 12,092 1,374
(54) (96) (86) (340) (613) (318)
(28) (3) (5) (81) (851) (36)
------- ------ ------ ------- -------- ------
(82) (99) (91) (421) (1,464) (354)
------- ------ ------ ------- -------- ------
1,790 275 342 7,017 10,628 1,020
------- ------ ------ ------- -------- ------
385 262 143 (2,905) 1,880 (169)
------- ------ ------ ------- -------- ------
6,982 1,452 963 34,233 68,923 5,125
-- -- -- -- -- --
(2) 6 (3) (10) (113) (13)
------- ------ ------ ------- -------- ------
6,980 1,458 960 34,223 68,810 5,112
------- ------ ------ ------- -------- ------
3,887 2,274 1,176 29,537 (58,252) 1,258
-- -- -- -- -- --
3 1 -- (24) (90) @@
------- ------ ------ ------- -------- ------
3,890 2,275 1,176 29,513 (58,342) 1,258
------- ------ ------ ------- -------- ------
10,870 3,733 2,136 63,736 10,468 6,370
------- ------ ------ ------- -------- ------
$11,255 $3,995 $2,279 $60,831 $ 12,348 $6,201
======= ====== ====== ======= ======== ======
</Table>
233
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH
ALLOCATION GROWTH
FUND* FUND
---------- -------
INVESTMENT INCOME:
Dividends................................................. $ 2,504 $ 9,825
Interest.................................................. -- 857
Securities lending........................................ -- 177
Less: Foreign tax withheld................................ -- (70)
------- -------
Total investment income, net............................ 2,504 10,789
------- -------
EXPENSES:
Investment management and advisory fees................... 473 7,709
Transfer agent fees....................................... 463 2,023
Distribution fees
Class A................................................. 326 1,347
Class B................................................. 426 415
Class C................................................. 634 684
Class H................................................. -- 218
Class L................................................. -- 768
Class M................................................. -- 205
Class N................................................. -- 45
Custodian fees............................................ 1 12
Accounting services....................................... 24 137
Registration and filing fees.............................. 57 160
Board of Directors' fees.................................. 2 12
Other expenses............................................ 123 547
------- -------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 2,529 14,282
Waivers and reimbursements................................ (329) (422)
Fees paid indirectly...................................... @@ (187)
------- -------
Total waivers, reimbursements and fees paid
indirectly............................................. (329) (609)
------- -------
Total expenses, net..................................... 2,200 13,673
------- -------
Net investment income (loss).............................. 304 (2,884)
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 320 65,368
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 320 65,368
------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 14,053 5,174
Net unrealized appreciation (depreciation) of futures and
options 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 AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... 14,053 5,174
------- -------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 14,373 70,542
------- -------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $14,677 $67,658
======= =======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
234
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH HIGH INCOME INFLATION INTERNATIONAL
OPPORTUNITIES YIELD ALLOCATION INCOME PLUS CAPITAL
FUND FUND FUND* FUND FUND APPRECIATION FUND
------------- -------- ---------- ------- --------- -----------------
$ 5,369 $ 17 $1,093 $ -- $ -- $4,399
395 25,974 -- 2,826 43,612 274
819 159 -- -- -- 178
(101) -- -- @@ -- (530)
-------- -------- ------ ------- -------- ------
6,482 26,150 1,093 2,826 43,612 4,321
-------- -------- ------ ------- -------- ------
6,061 2,725 51 294 5,202 1,987
617 764 29 76 844 485
290 563 38 72 904 265
159 560 35 56 1,167 180
151 622 64 55 3,609 247
386 -- -- -- -- --
1,349 -- -- -- -- --
225 -- -- -- -- --
52 -- -- -- -- --
121 35 1 15 16 216
33 73 3 10 180 40
127 60 22 26 121 52
11 6 -- 1 12 3
420 199 26 37 451 101
-------- -------- ------ ------- -------- ------
10,002 5,607 269 642 12,506 3,576
(245) (10) (56) (115) (528) (279)
(519) (10) @@ (2) (2) (139)
-------- -------- ------ ------- -------- ------
(764) (20) (56) (117) (530) (418)
-------- -------- ------ ------- -------- ------
9,238 5,587 213 525 11,976 3,158
-------- -------- ------ ------- -------- ------
(2,756) 20,563 880 2,301 31,636 1,163
-------- -------- ------ ------- -------- ------
144,378 7,440 (2) (355) 3,417 2,531
-- (111) -- -- (154) --
(36) 869 -- 29 874 (63)
-------- -------- ------ ------- -------- ------
144,342 8,198 (2) (326) 4,137 2,468
-------- -------- ------ ------- -------- ------
(5,470) (24,812) (758) (1,796) (22,954) 2,469
-- 186 -- 68 -- --
(3) (673) -- (12) (75) (22)
-------- -------- ------ ------- -------- ------
(5,473) (25,299) (758) (1,740) (23,029) 2,447
-------- -------- ------ ------- -------- ------
138,869 (17,101) (760) (2,066) (18,892) 4,915
-------- -------- ------ ------- -------- ------
$136,113 $ 3,462 $ 120 $ 235 $ 12,744 $6,078
======== ======== ====== ======= ======== ======
</Table>
235
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL INTERNATIONAL
OPPORTUNITIES SMALL COMPANY
FUND FUND
------------- -------------
INVESTMENT INCOME:
Dividends................................................. $ 2,936 $ 2,500
Interest.................................................. 136 53
Securities lending........................................ 99 148
Less: Foreign tax withheld................................ (400) (269)
------- -------
Total investment income, net............................ 2,771 2,432
------- -------
EXPENSES:
Investment management and advisory fees................... 1,213 1,072
Transfer agent fees....................................... 640 149
Distribution fees
Class A................................................. 241 77
Class B................................................. 245 51
Class C................................................. 165 120
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 124 163
Accounting services....................................... 29 22
Registration and filing fees.............................. 34 36
Board of Directors' fees.................................. 2 1
Other expenses............................................ 84 69
------- -------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 2,777 1,760
Waivers and reimbursements................................ (244) (153)
Fees paid indirectly...................................... (66) (54)
------- -------
Total waivers, reimbursements and fees paid
indirectly............................................. (310) (207)
------- -------
Total expenses, net..................................... 2,467 1,553
------- -------
Net investment income (loss).............................. 304 879
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 22,598 13,389
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ 135 (1,373)
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 22,733 12,016
------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (1,420) 1,276
Net unrealized appreciation (depreciation) of futures and
options contracts....................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... 86 2,763
------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... (1,334) 4,039
------- -------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 21,399 16,055
------- -------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $21,703 $16,934
======= =======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
236
- --------------------------------------------------------------------------------
<Table>
<Caption>
MIDCAP MONEY RETIREMENT SELECT MIDCAP SELECT MIDCAP
MIDCAP VALUE MARKET INCOME GROWTH VALUE
FUND FUND FUND FUND*+ FUND(+) FUND#
-------- ------- ------ ---------- ------------- -------------
$ 27,450 $4,592 $ -- $ @@ $ 47 $ 136
1,949 165 7,352 -- 15 15
209 46 -- -- -- --
(191) (44) -- -- @@ (1)
-------- ------- ------ ----- ----- ------
29,417 4,759 7,352 @@ 62 150
-------- ------- ------ ----- ----- ------
20,064 3,784 1,263 @@ 104 104
5,977 1,263 832 @@ 32 7
4,074 728 459 @@ 23 22
4,640 622 356 @@ 12 5
5,037 668 200 @@ 9 8
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
56 34 7 @@ 30 12
545 89 50 @@ 2 2
220 62 56 @@ 33 4
38 6 4 @@ @@ @@
1,350 232 136 @@ 33 20
-------- ------- ------ ----- ----- ------
42,001 7,488 3,363 @@ 278 184
-- (401) (597) -- (90) (14)
(626) (83) (1) -- (1) (2)
-------- ------- ------ ----- ----- ------
(626) (484) (598) -- (91) (16)
-------- ------- ------ ----- ----- ------
41,375 7,004 2,765 @@ 187 168
-------- ------- ------ ----- ----- ------
(11,958) (2,245) 4,587 @@ (125) (18)
-------- ------- ------ ----- ----- ------
489,123 46,568 @@ (1) 195 609
-- -- -- -- -- --
(37) (14) -- -- -- --
-------- ------- ------ ----- ----- ------
489,086 46,554 @@ (1) 195 609
-------- ------- ------ ----- ----- ------
(18,549) 1,474 -- @@ 336 533
-- -- -- -- -- --
(5) 1 -- -- -- --
-------- ------- ------ ----- ----- ------
(18,554) 1,475 -- @@ 336 533
-------- ------- ------ ----- ----- ------
470,532 48,029 @@ (1) 531 1,142
-------- ------- ------ ----- ----- ------
$458,574 $45,784 $4,587 $ (1) $ 406 $1,124
======== ======= ====== ===== ===== ======
</Table>
237
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT SHORT
SMALLCAP DURATION
GROWTH FUND+ FUND
------------ --------
INVESTMENT INCOME:
Dividends................................................. $ 2 $ --
Interest.................................................. 2 5,672
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
----- -------
Total investment income, net............................ 4 5,672
----- -------
EXPENSES:
Investment management and advisory fees................... 5 751
Transfer agent fees....................................... 1 118
Distribution fees
Class A................................................. 1 88
Class B................................................. @@ 101
Class C................................................. @@ 293
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ @@ 8
Accounting services....................................... @@ 27
Registration and filing fees.............................. @@ 34
Board of Directors' fees.................................. @@ 2
Other expenses............................................ @@ 80
----- -------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 7 1,502
Waivers and reimbursements................................ -- (133)
Fees paid indirectly...................................... -- (3)
----- -------
Total waivers, reimbursements and fees paid
indirectly............................................. -- (136)
----- -------
Total expenses, net..................................... 7 1,366
----- -------
Net investment income (loss).............................. (3) 4,306
----- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (18) (984)
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
----- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. (18) (984)
----- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (232) (2,113)
Net unrealized appreciation (depreciation) of futures and
options 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 AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... (232) (2,113)
----- -------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. (250) (3,097)
----- -------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $(253) $ 1,209
===== =======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
238
- --------------------------------------------------------------------------------
<Table>
<Caption>
SMALL SMALLCAP TARGET TARGET TARGET
COMPANY GROWTH STOCK RETIREMENT RETIREMENT RETIREMENT
FUND FUND FUND 2010 FUND*+ 2020 FUND*+ 2030 FUND*+
------- -------- -------- ----------- ----------- -----------
$1,165 $ 1,628 $ 32,652 $ @@ $ @@ $ @@
174 156 313 -- -- --
156 219 77 -- -- --
(67) (2) (155) -- -- --
------- ------- -------- ----- ----- -----
1,428 2,001 32,887 @@ @@ @@
------- ------- -------- ----- ----- -----
2,538 2,347 10,714 @@ @@ @@
995 327 5,008 @@ @@ @@
396 133 2,158 @@ @@ @@
585 145 3,169 @@ @@ @@
466 122 2,180 @@ @@ @@
-- 168 -- -- -- --
-- 303 -- -- -- --
-- 163 -- -- -- --
-- 63 -- -- -- --
40 16 98 -- @@ @@
60 22 299 -- @@ @@
53 88 156 @@ @@ @@
4 3 23 @@ @@ @@
158 154 897 @@ @@ @@
------- ------- -------- ----- ----- -----
5,295 4,054 24,702 @@ @@ @@
(478) (190) (794) @@ -- --
(135) (44) (246) -- -- --
------- ------- -------- ----- ----- -----
(613) (234) (1,040) @@ -- --
------- ------- -------- ----- ----- -----
4,682 3,820 23,662 @@ @@ @@
------- ------- -------- ----- ----- -----
(3,254) (1,819) 9,225 @@ @@ @@
------- ------- -------- ----- ----- -----
41,166 28,813 75,371 @@ (1) @@
-- 213 71 -- -- --
(13) -- (62) -- -- --
------- ------- -------- ----- ----- -----
41,153 29,026 75,380 @@ (1) @@
------- ------- -------- ----- ----- -----
21,066 7,948 63,529 (1) 1 (1)
-- (123) -- -- -- --
(1) -- (3) -- -- --
------- ------- -------- ----- ----- -----
21,065 7,825 63,526 (1) 1 (1)
------- ------- -------- ----- ----- -----
62,218 36,851 138,906 (1) @@ (1)
------- ------- -------- ----- ----- -----
$58,964 $35,032 $148,131 $ (1) $ @@ $ (1)
======= ======= ======== ===== ===== =====
</Table>
239
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE PERIOD ENDED OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE TAX-FREE
CALIFORNIA MINNESOTA
FUND FUND
---------- ---------
INVESTMENT INCOME:
Dividends................................................. $ -- $ --
Interest.................................................. 807 1,665
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
---- ------
Total investment income, net............................ 807 1,665
---- ------
EXPENSES:
Investment management and advisory fees................... 98 261
Transfer agent fees....................................... 5 7
Distribution fees
Class A................................................. 38 12
Class B................................................. 11 7
Class C................................................. 16 4
Class H................................................. -- 1
Class L................................................. -- 7
Class M................................................. -- 1
Class N................................................. -- 2
Custodian fees............................................ 4 4
Accounting services....................................... 4 1
Registration and filing fees.............................. 5 15
Board of Directors' fees.................................. @@ 1
Other expenses............................................ 22 35
---- ------
Total expenses (before waivers, reimbursements and fees
paid indirectly)....................................... 203 358
Waivers and reimbursements................................ (22) (32)
Fees paid indirectly...................................... (3) (2)
---- ------
Total waivers, reimbursements and fees paid
indirectly............................................. (25) (34)
---- ------
Total expenses, net..................................... 178 324
---- ------
Net investment income (loss).............................. 629 1,341
---- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 60 57
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
---- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 60 57
---- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (77) (802)
Net unrealized appreciation (depreciation) of futures and
options 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 AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... (77) (802)
---- ------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. (17) (745)
---- ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $612 $ 596
==== ======
</Table>
* Relates to investments in affiliated investment companies.
(+) Commenced operations on January 1, 2005.
# Commenced operations on April 29, 2005.
+ Commenced operations on September 30, 2005.
@@ 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.
240
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE TAX-FREE TOTAL U.S. GOVERNMENT VALUE
NATIONAL NEW YORK RETURN SECURITIES VALUE OPPORTUNITIES
FUND FUND BOND FUND FUND FUND FUND
-------- -------- --------- --------------- ------- -------------
$ -- $ -- $ 103 $ -- $ 2,682 $ 2,650
4,715 641 27,224 13,169 87 118
-- -- 172 62 1 35
-- -- -- -- (5) (70)
------- ----- -------- ------- ------- -------
4,715 641 27,499 13,231 2,765 2,733
------- ----- -------- ------- ------- -------
726 82 3,902 1,792 1,036 1,508
41 2 1,189 248 228 210
99 28 753 125 155 112
67 17 861 238 98 100
82 23 809 121 107 93
5 -- -- 33 -- 55
20 -- -- 92 -- 69
13 -- -- 31 -- 82
5 -- -- 10 -- 22
4 4 31 16 11 27
11 3 124 18 26 24
81 5 79 97 36 83
1 @@ 9 4 2 2
69 21 310 150 78 90
------- ----- -------- ------- ------- -------
1,224 185 8,067 2,975 1,777 2,477
(153) (28) (156) (202) (31) (150)
(1) (2) (11) (3) (12) (13)
------- ----- -------- ------- ------- -------
(154) (30) (167) (205) (43) (163)
------- ----- -------- ------- ------- -------
1,070 155 7,900 2,770 1,734 2,314
------- ----- -------- ------- ------- -------
3,645 486 19,599 10,461 1,031 419
------- ----- -------- ------- ------- -------
698 32 3,613 (2,240) 3,426 11,637
-- -- 84 -- -- --
-- -- 1,740 -- -- (9)
------- ----- -------- ------- ------- -------
698 32 5,437 (2,240) 3,426 11,628
------- ----- -------- ------- ------- -------
(1,637) (160) (18,863) (6,406) 8,587 (2,335)
-- -- -- -- -- --
-- -- (1,174) -- -- @@
------- ----- -------- ------- ------- -------
(1,637) (160) (20,037) (6,406) 8,587 (2,335)
------- ----- -------- ------- ------- -------
(939) (128) (14,600) (8,646) 12,013 9,293
------- ----- -------- ------- ------- -------
$ 2,706 $ 358 $ 4,999 $ 1,815 $13,044 $ 9,712
======= ===== ======== ======= ======= =======
</Table>
241
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ADVISERS FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 32,907 $ 24,914
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 122,160 62,071
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ 3,416 461
Payment from affiliate.................................... -- 4,979
---------- ----------
Net increase (decrease) in net assets resulting from
operations.............................................. 158,483 92,425
---------- ----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (27,412) (19,144)
Class B................................................. (5,973) (2,860)
Class C................................................. (3,839) (2,274)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (344) (205)
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..................................... (37,568) (24,483)
---------- ----------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (392,975) 29,118
Class B................................................. (139,987) (59,114)
Class C................................................. (118,673) (77,869)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 1,012 4,708
Class Z................................................. -- --
---------- ----------
Net increase (decrease) from capital share transactions... (650,623) (103,157)
---------- ----------
Net increase (decrease) in net assets..................... (529,708) (35,215)
NET ASSETS:
Beginning of period....................................... 2,459,061 2,494,276
---------- ----------
End of period............................................. $1,929,353 $2,459,061
========== ==========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 2,060 $ 7,039
========== ==========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
242
- --------------------------------------------------------------------------------
<Table>
<Caption>
AGGRESSIVE GROWTH ALLOCATION FUND** BALANCED ALLOCATION FUND** CAPITAL APPRECIATION FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE PERIOD FOR THE PERIOD
FOR THE YEAR MAY 28, 2004* FOR THE YEAR MAY 28, 2004* FOR THE YEAR FOR THE YEAR
ENDED THROUGH ENDED THROUGH ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (503) $ (28) $ 2,838 $ 118 $ 4,278 $ (19,992)
544 (7) 890 @@ 1,118,465 608,639
4,848 862 11,897 2,807 274,627 210,528
-- -- -- -- -- --
-------- ------- -------- -------- ---------- ----------
4,889 827 15,625 2,925 1,397,370 799,175
-------- ------- -------- -------- ---------- ----------
(35) -- (1,883) (71) -- --
(1) -- (179) (2) -- --
(2) -- (268) (4) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(1) -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-------- ------- -------- -------- ---------- ----------
(39) -- (2,330) (77) -- --
-------- ------- -------- -------- ---------- ----------
43,217 11,962 187,765 65,655 1,010,045 1,397,295
14,732 4,350 51,526 18,392 (53,909) 112,210
25,790 5,232 69,611 29,653 230,865 207,155
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- 97,646 57,278
-- -- -- -- -- --
-------- ------- -------- -------- ---------- ----------
83,739 21,544 308,902 113,700 1,284,647 1,773,938
-------- ------- -------- -------- ---------- ----------
88,589 22,371 322,197 116,548 2,682,017 2,573,113
22,371 -- 116,548 -- 7,100,798 4,527,685
-------- ------- -------- -------- ---------- ----------
$110,960 $22,371 $438,745 $116,548 $9,782,815 $7,100,798
======== ======= ======== ======== ========== ==========
$ -- $ -- $ 559 $ 42 $ 7 $ 4,579
======== ======= ======== ======== ========== ==========
</Table>
243
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
CAPITAL APPRECIATION II FUND
----------------------------
FOR THE PERIOD
APRIL 29, 2005*
THROUGH
OCTOBER 31, 2005
----------------------------
OPERATIONS:
Net investment income (loss).............................. $ (121)
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 1,147
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ 1,410
Payment from affiliate.................................... --
-------
Net increase (decrease) in net assets resulting from
operations.............................................. 2,436
-------
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................................................. 55,083
Class B................................................. 6,190
Class C................................................. 19,141
Class E................................................. --
Class H................................................. --
Class L................................................. --
Class M................................................. --
Class N................................................. --
Class Y................................................. 300
Class Z................................................. --
-------
Net increase (decrease) from capital share transactions... 80,714
-------
Net increase (decrease) in net assets..................... 83,150
NET ASSETS:
Beginning of period....................................... --
-------
End of period............................................. $83,150
=======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ --
=======
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
244
- --------------------------------------------------------------------------------
<Table>
<Caption>
CONSERVATIVE ALLOCATION FUND** DISCIPLINED EQUITY FUND DIVIDEND AND GROWTH FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE PERIOD
FOR THE YEAR MAY 28, 2004* FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED THROUGH ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 1,781 $ 112 $ 2,455 $ 429 $ 30,193 $ 17,976
1,108 @@ 30,446 21,042 114,099 81,633
354 907 4,992 (1,634) 102,952 149,410
-- -- -- 3 -- 1,109
-------- ------- -------- -------- ---------- ----------
3,243 1,019 37,893 19,840 247,244 250,128
-------- ------- -------- -------- ---------- ----------
(1,112) (55) (1,780) (151) (26,573) (14,072)
(127) (4) (24) -- (1,659) (350)
(262) (8) (42) -- (1,776) (600)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (346) (3) (1,670) (724)
-- -- -- -- -- --
@@ -- -- -- (19,192) --
@@ -- -- -- (3,381) --
@@ -- -- -- (2,925) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- (723) --
-- -- -- -- -- --
-------- ------- -------- -------- ---------- ----------
(1,501) (67) (2,192) (154) (57,899) (15,746)
-------- ------- -------- -------- ---------- ----------
35,327 33,293 (55,312) (17,298) 131,765 370,976
9,320 4,901 (9,136) (5,801) 386 30,946
16,401 10,575 (11,195) (7,637) (16,919) 19,924
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- 58,623 18,654 39,561 21,352
-- -- -- -- -- --
-------- ------- -------- -------- ---------- ----------
61,048 48,769 (17,020) (12,082) 154,793 443,198
-------- ------- -------- -------- ---------- ----------
62,790 49,721 18,681 7,604 344,138 677,580
49,721 -- 346,118 338,514 2,504,873 1,827,293
-------- ------- -------- -------- ---------- ----------
$112,511 $49,721 $364,799 $346,118 $2,849,011 $2,504,873
======== ======= ======== ======== ========== ==========
$ 328 $ 45 $ 600 $ 391 $ 1,335 $ 3,070
======== ======= ======== ======== ========== ==========
</Table>
245
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
EQUITY INCOME FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 8,781 $ 3,657
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 1,270 551
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ 20,042 8,171
Payment from affiliate.................................... -- --
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 30,093 12,379
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (6,785) (2,580)
Class B................................................. (367) (131)
Class C................................................. (749) (381)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (17) (4)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. (457) (9)
Class B................................................. (40) (1)
Class C................................................. (93) (2)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (1) --
Class Z................................................. -- --
-------- --------
Total distributions..................................... (8,509) (3,108)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 150,915 177,942
Class B................................................. 14,075 15,457
Class C................................................. 6,170 34,946
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 386 253
Class Z................................................. -- --
-------- --------
Net increase (decrease) from capital share transactions... 171,546 228,598
-------- --------
Net increase (decrease) in net assets..................... 193,130 237,869
NET ASSETS:
Beginning of period....................................... 274,682 36,813
-------- --------
End of period............................................. $467,812 $274,682
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 1,452 $ 613
======== ========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
246
- --------------------------------------------------------------------------------
<Table>
<Caption>
FLOATING RATE FUND FOCUS FUND GLOBAL COMMUNICATIONS FUND
------------------ ----------------------------------- -----------------------------------
FOR THE PERIOD
APRIL 29, 2005* FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
THROUGH ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
------------------ ---------------- ---------------- ---------------- ----------------
$ 2,828 $ 385 $ (629) $ 262 $ 108
40 6,980 13,752 1,458 2,466
(284) 3,890 (10,748) 2,275 (1,042)
-- -- 34 -- --
-------- -------- -------- ------- -------
2,584 11,255 2,409 3,995 1,532
-------- -------- -------- ------- -------
(1,821) (31) -- (95) --
(61) -- -- (5) --
(785) -- -- (4) --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
(158) (3) -- (2) --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-------- -------- -------- ------- -------
(2,825) (34) -- (106) --
-------- -------- -------- ------- -------
169,576 (24,122) (4,332) 4,186 1,319
5,656 (5,339) (2,823) 844 (254)
92,857 (9,446) (3,743) 1,012 (140)
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
-- -- -- -- --
10,068 (419) 90 386 (573)
-- -- -- -- --
-------- -------- -------- ------- -------
278,157 (39,326) (10,808) 6,428 352
-------- -------- -------- ------- -------
277,916 (28,105) (8,399) 10,317 1,884
-- 110,538 118,937 11,887 10,003
-------- -------- -------- ------- -------
$277,916 $ 82,433 $110,538 $22,204 $11,887
======== ======== ======== ======= =======
$ 89 $ 321 $ -- $ 253 $ 94
======== ======== ======== ======= =======
</Table>
247
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL FINANCIAL SERVICES FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 143 $ 192
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 960 1,138
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ 1,176 104
Payment from affiliate.................................... -- --
------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 2,279 1,434
------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (158) (112)
Class B................................................. (17) (8)
Class C................................................. (13) (6)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (10) (7)
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..................................... (198) (133)
------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (369) (680)
Class B................................................. (223) (822)
Class C................................................. 48 (887)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 56 (968)
Class Z................................................. -- --
------- -------
Net increase (decrease) from capital share transactions... (488) (3,357)
------- -------
Net increase (decrease) in net assets..................... 1,593 (2,056)
NET ASSETS:
Beginning of period....................................... 19,054 21,110
------- -------
End of period............................................. $20,647 $19,054
======= =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 122 $ 185
======= =======
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
248
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL HEALTH FUND GLOBAL LEADERS FUND GLOBAL TECHNOLOGY FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (2,905) $ (2,803) $ 1,880 $ (3,432) $ (169) $(1,125)
34,223 17,347 68,810 96,204 5,112 4,346
29,513 6,508 (58,342) 21,017 1,258 (7,552)
-- -- -- -- -- --
-------- -------- -------- -------- -------- -------
60,831 21,052 12,348 113,789 6,201 (4,331)
-------- -------- -------- -------- -------- -------
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(8,795) (595) -- -- -- --
(3,502) (269) -- -- -- --
(3,266) (246) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(64) (5) -- -- -- --
-- -- -- -- -- --
-------- -------- -------- -------- -------- -------
(15,627) (1,115) -- -- -- --
-------- -------- -------- -------- -------- -------
21,305 32,756 (55,206) (79,662) (7,218) 1,143
(808) 5,182 (12,061) (2,281) (1,925) (85)
5,459 5,712 (16,831) (4,087) (4,483) (1,453)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
152,727 100 23,402 33,863 (369) 421
-- -- -- -- -- --
-------- -------- -------- -------- -------- -------
178,683 43,750 (60,696) (52,167) (13,995) 26
-------- -------- -------- -------- -------- -------
223,887 63,687 (48,348) 61,622 (7,794) (4,305)
299,396 235,709 702,501 640,879 59,473 63,778
-------- -------- -------- -------- -------- -------
$523,283 $299,396 $654,153 $702,501 $ 51,679 $59,473
======== ======== ======== ======== ======== =======
$ -- $ -- $ 918 $ 1 $ -- $ --
======== ======== ======== ======== ======== =======
</Table>
249
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH ALLOCATION FUND**
-----------------------------------------
FOR THE PERIOD
FOR THE YEAR MAY 28, 2004*
ENDED THROUGH
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 304 $ (19)
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 320 U
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ 14,053 2,435
Payment from affiliate.................................... -- --
-------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 14,677 2,416
-------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (223) --
Class B................................................. (34) --
Class C................................................. (49) --
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..................................... (306) --
-------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 153,777 41,921
Class B................................................. 49,107 13,745
Class C................................................. 75,477 20,595
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
-------- -------
Net increase (decrease) from capital share transactions... 278,361 76,261
-------- -------
Net increase (decrease) in net assets..................... 292,732 78,677
NET ASSETS:
Beginning of period....................................... 78,677 --
-------- -------
End of period............................................. $371,409 $78,677
======== =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ -- $ --
======== =======
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
250
- --------------------------------------------------------------------------------
<Table>
<Caption>
GROWTH FUND GROWTH OPPORTUNITIES FUND HIGH YIELD FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
YEAR ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ (2,884) $ (4,846) $ (2,756) $ (4,788) $ 20,563 $ 21,975
65,368 14,874 144,342 74,372 8,198 1,260
5,174 25,107 (5,473) 866 (25,299) 9,408
-- -- -- -- -- 82
---------- -------- -------- -------- -------- --------
67,658 35,135 136,113 70,450 3,462 32,725
---------- -------- -------- -------- -------- --------
-- -- -- -- (13,732) (13,775)
-- -- -- -- (3,018) (3,524)
-- -- -- -- (3,402) (3,930)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- (1,366) (183)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
---------- -------- -------- -------- -------- --------
-- -- -- -- (21,518) (21,412)
---------- -------- -------- -------- -------- --------
216,074 303,622 148,576 34,377 (47,780) 27,020
11,547 20,108 5,987 6,429 (14,067) (10,205)
31,324 34,841 4,571 5,973 (17,642) (8,468)
-- -- -- -- -- --
(5,076) (5,133) (8,150) (10,101) -- --
(36,168) (27,881) (54,451) (55,147) -- --
(3,691) (3,425) (3,811) (4,250) -- --
(259) (412) (520) (292) -- --
38,875 11,595 21,478 4,589 10,715 16,120
-- -- (4,905) (2,794) -- --
---------- -------- -------- -------- -------- --------
252,626 333,315 108,775 (21,216) (68,774) 24,467
---------- -------- -------- -------- -------- --------
320,284 368,450 244,888 49,234 (86,830) 35,780
835,590 467,140 700,724 651,490 399,419 363,639
---------- -------- -------- -------- -------- --------
$1,155,874 $835,590 $945,612 $700,724 $312,589 $399,419
========== ======== ======== ======== ======== ========
$ -- $ -- $ -- $ -- $ 291 $ 362
========== ======== ======== ======== ======== ========
</Table>
251
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME ALLOCATION FUND**
-----------------------------------------
FOR THE PERIOD
FOR THE YEAR MAY 28, 2004*
ENDED THROUGH
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 880 $ 65
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... (2) 1
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ (758) 89
Payment from affiliate.................................... -- --
------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 120 155
------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (575) (41)
Class B................................................. (107) (5)
Class C................................................. (191) (18)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. (1) --
Class B................................................. @@ --
Class C................................................. @@ --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------- -------
Total distributions..................................... (874) (64)
------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 9,355 10,487
Class B................................................. 3,192 1,681
Class C................................................. 3,032 4,850
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------- -------
Net increase (decrease) from capital share transactions... 15,579 17,018
------- -------
Net increase (decrease) in net assets..................... 14,825 17,109
NET ASSETS:
Beginning of period....................................... 17,109 --
------- -------
End of period............................................. $31,934 $17,109
======= =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 8 $ 1
======= =======
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
252
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME FUND INFLATION PLUS FUND INTERNATIONAL CAPITAL APPRECIATION FUND
----------------------------------- ----------------------------------- ---------------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ------------------ ------------------
$ 2,301 $ 1,496 $ 31,636 $ 15,142 $ 1,163 $ (128)
(326) 272 4,137 3,921 2,468 (671)
(1,740) 392 (23,029) 15,179 2,447 9,438
-- -- -- -- -- --
------- ------- ---------- -------- -------- --------
235 2,160 12,744 34,242 6,078 8,639
------- ------- ---------- -------- -------- --------
(1,399) (1,192) (14,269) (7,295) -- --
(234) (193) (3,620) (1,954) -- --
(227) (215) (11,262) (5,756) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(494) (1) (2,800) (129) -- --
-- -- -- -- -- --
(116) -- (2,567) (560) -- (75)
(22) -- (878) (264) -- (12)
(22) -- (2,606) (627) -- (14)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
@@ -- (205) -- -- (1)
-- -- -- -- -- --
------- ------- ---------- -------- -------- --------
(2,514) (1,601) (38,207) (16,585) -- (102)
------- ------- ---------- -------- -------- --------
674 13,357 111,228 163,635 78,629 33,843
694 748 14,456 37,258 12,942 6,071
(167) 428 63,634 152,377 16,059 9,562
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
16,873 10 74,962 22,802 43,463 26,600
-- -- -- -- -- --
------- ------- ---------- -------- -------- --------
18,074 14,543 264,280 376,072 151,093 76,076
------- ------- ---------- -------- -------- --------
15,795 15,102 238,817 393,729 157,171 84,613
40,693 25,591 764,960 371,231 100,700 16,087
------- ------- ---------- -------- -------- --------
$56,488 $40,693 $1,003,777 $764,960 $257,871 $100,700
======= ======= ========== ======== ======== ========
$ 18 $ 17 $ 852 $ 293 $ 961 $ --
======= ======= ========== ======== ======== ========
</Table>
253
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL OPPORTUNITIES FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 304 $ 165
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 22,733 17,719
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ (1,334) 169
Payment from affiliate.................................... -- --
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 21,703 18,053
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. -- (32)
Class B................................................. -- --
Class C................................................. -- --
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- (31)
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..................................... -- (63)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 178 6,346
Class B................................................. (2,994) (278)
Class C................................................. (1,269) (1,224)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 537 (2,608)
Class Z................................................. -- --
-------- --------
Net increase (decrease) from capital share transactions... (3,548) 2,236
-------- --------
Net increase (decrease) in net assets..................... 18,155 20,226
NET ASSETS:
Beginning of period....................................... 130,686 110,460
-------- --------
End of period............................................. $148,841 $130,686
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 482 $ 109
======== ========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
254
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL SMALL COMPANY FUND MIDCAP FUND MIDCAP VALUE FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 879 $ 628 $ (11,958) $ (16,320) $ (2,245) $ (2,039)
12,016 8,347 489,086 184,502 46,554 33,398
4,039 (3,466) (18,554) 60,619 1,475 9,523
-- -- -- -- -- --
-------- ------- ---------- ---------- -------- --------
16,934 5,509 458,574 228,801 45,784 40,882
-------- ------- ---------- ---------- -------- --------
-- (5) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(134) (108) -- -- -- --
-- -- -- -- -- --
(2,648) (858) (32,520) -- (21,012) --
(419) (155) (9,709) -- (4,659) --
(1,146) (240) (10,682) -- (5,152) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(4,641) (1,683) (2,142) -- (221) --
-- -- -- -- -- --
-------- ------- ---------- ---------- -------- --------
(8,988) (3,049) (55,053) -- (31,044) --
-------- ------- ---------- ---------- -------- --------
8,749 10,982 (113,409) (7,410) (9,469) 96,898
2,062 1,408 (40,629) (23,848) (2,748) 12,047
1,851 6,922 (57,163) (36,048) (7,585) 10,552
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
18,650 15,694 15,529 11,066 35,896 2,342
-- -- -- -- -- --
-------- ------- ---------- ---------- -------- --------
31,312 35,006 (195,672) (56,240) 16,094 121,839
-------- ------- ---------- ---------- -------- --------
39,258 37,466 207,849 172,561 30,834 162,721
80,181 42,715 2,572,428 2,399,867 410,337 247,616
-------- ------- ---------- ---------- -------- --------
$119,439 $80,181 $2,780,277 $2,572,428 $441,171 $410,337
======== ======= ========== ========== ======== ========
$ (157) $ 584 $ -- $ -- $ -- $ --
======== ======= ========== ========== ======== ========
</Table>
255
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MONEY MARKET FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 4,587 $ 619
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... U 2
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ -- --
Payment from affiliate.................................... -- --
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 4,587 621
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (3,610) (590)
Class B................................................. (414) (5)
Class C................................................. (239) (3)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (324) (21)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. -- (2)
Class B................................................. -- @@
Class C................................................. -- @@
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- @@
Class Z................................................. -- --
-------- --------
Total distributions..................................... (4,587) (621)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. (23,134) (40,757)
Class B................................................. (15,120) (21,896)
Class C................................................. (7,836) (3,329)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 6,416 8,536
Class Z................................................. -- --
-------- --------
Net increase (decrease) from capital share transactions... (39,674) (57,446)
-------- --------
Net increase (decrease) in net assets..................... (39,674) (57,446)
NET ASSETS:
Beginning of period....................................... 287,602 345,048
-------- --------
End of period............................................. $247,928 $287,602
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ -- $ --
======== ========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
256
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT MIDCAP SELECT MIDCAP SELECT SMALLCAP
RETIREMENT INCOME FUND** GROWTH FUND VALUE FUND GROWTH FUND SHORT DURATION FUND
------------------------ ---------------- ---------------- ------------------- -----------------------------------
FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD
SEPTEMBER 30, 2005* JANUARY 1, 2005* APRIL 29, 2005* SEPTEMBER 30, 2005* FOR THE YEAR FOR THE YEAR
THROUGH THROUGH THROUGH THROUGH ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 OCTOBER 31, 2004
------------------------ ---------------- ---------------- ------------------- ---------------- ----------------
$@@ $ (125) $ (18) $ (3) $ 4,306 $ 2,169
(1) 195 609 (18) (984) (295)
@@ 336 533 (232) (2,113) (187)
-- -- -- -- -- --
--- ------- ------- ------ -------- --------
(1) 406 1,124 (253) 1,209 1,687
--- ------- ------- ------ -------- --------
@@ -- -- -- (1,118) (1,024)
@@ -- -- -- (246) (251)
@@ -- -- -- (710) (755)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
@@ -- -- -- (2,243) (150)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
--- ------- ------- ------ -------- --------
@@ -- -- -- (4,317) (2,180)
--- ------- ------- ------ -------- --------
48 14,672 21,379 5,445 (9,129) 6,604
10 2,308 1,688 207 (3,212) 2,127
10 1,708 2,872 213 (11,289) 4,492
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
10 206 500 200 52,383 31,444
-- -- -- -- -- --
--- ------- ------- ------ -------- --------
78 18,894 26,439 6,065 28,753 44,667
--- ------- ------- ------ -------- --------
77 19,300 27,563 5,812 25,645 44,174
-- -- -- -- 117,793 73,619
--- ------- ------- ------ -------- --------
$77 $19,300 $27,563 $5,812 $143,438 $117,793
=== ======= ======= ====== ======== ========
$@@ $ -- $ 1 $ -- $ 6 $ 17
=== ======= ======= ====== ======== ========
</Table>
257
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SMALL COMPANY FUND SMALLCAP GROWTH FUND
----------------------------------- -----------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ----------------
OPERATIONS:
Net investment income (loss)........................ $ (3,254) $ (4,048) $ (1,819) $ (2,027)
Net realized gain (loss) on investments, futures and
options contracts and foreign currency
transactions...................................... 41,153 31,350 29,026 27,895
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions..................... 21,065 (13,512) 7,825 (12,104)
Payment from affiliate.............................. -- -- -- --
-------- -------- -------- --------
Net increase (decrease) in net assets resulting from
operations........................................ 58,964 13,790 35,032 13,764
-------- -------- -------- --------
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........................................... (28,458) 7,710 16,899 23,863
Class B........................................... (13,082) (2,618) 2,544 4,876
Class C........................................... (13,738) (4,938) 4,182 4,665
Class E........................................... -- -- -- --
Class H........................................... -- -- (4,402) (4,749)
Class L........................................... -- -- (12,237) (6,513)
Class M........................................... -- -- (2,919) (2,982)
Class N........................................... -- -- (983) (397)
Class Y........................................... 20,619 (265) 47,224 5,474
Class Z........................................... -- -- -- --
-------- -------- -------- --------
Net increase (decrease) from capital share
transactions...................................... (34,659) (111) 50,308 24,237
-------- -------- -------- --------
Net increase (decrease) in net assets............... 24,305 13,679 85,340 38,001
NET ASSETS:
Beginning of period................................. 279,774 266,095 224,683 186,682
-------- -------- -------- --------
End of period....................................... $304,079 $279,774 $310,023 $224,683
======== ======== ======== ========
Accumulated undistributed (distribution in excess of)
net investment income............................... $ @@ $ -- $ -- $ --
======== ======== ======== ========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
258
- --------------------------------------------------------------------------------
<Table>
<Caption>
STOCK FUND TARGET RETIREMENT 2010 FUND** TARGET RETIREMENT 2020 FUND**
----------------------------------- ----------------------------- -----------------------------
FOR THE PERIOD FOR THE PERIOD
FOR THE YEAR FOR THE YEAR SEPTEMBER 30, 2005* SEPTEMBER 30, 2005*
ENDED ENDED THROUGH THROUGH
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2005
---------------- ---------------- ----------------------------- -----------------------------
$ 9,225 $ (1,234) $@@ $ @@
75,380 13,771 @@ (1)
63,526 43,675 (1) 1
-- -- -- --
---------- ---------- --- ----
148,131 56,212 (1) @@
---------- ---------- --- ----
(5,607) -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
(1,017) -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
---------- ---------- --- ----
(6,624) -- -- --
---------- ---------- --- ----
(307,587) (58,565) 12 144
(94,047) (43,898) 10 10
(94,768) (65,250) 10 10
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
-- -- -- --
18,040 36,590 10 10
-- -- -- --
---------- ---------- --- ----
(478,362) (131,123) 42 174
---------- ---------- --- ----
(336,855) (74,911) 41 174
1,632,957 1,707,868 -- --
---------- ---------- --- ----
$1,296,102 $1,632,957 $41 $174
========== ========== === ====
$ 2,294 $ -- $@@ $ @@
========== ========== === ====
<Caption>
TARGET RETIREMENT 2030 FUND**
-----------------------------
FOR THE PERIOD
SEPTEMBER 30, 2005*
THROUGH
OCTOBER 31, 2005
-----------------------------
$@@
@@
(1)
--
---
(1)
---
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
---
--
---
10
10
10
--
--
--
--
--
10
--
---
40
---
39
--
---
$39
===
$@@
===
</Table>
259
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE CALIFORNIA FUND
-----------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 629 $ 614
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 60 32
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ (77) 526
Payment from affiliate.................................... -- --
------- -------
Net increase (decrease) in net assets resulting from
operations.............................................. 612 1,172
------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (548) (590)
Class B................................................. (33) (33)
Class C................................................. (47) (19)
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..................................... (628) (642)
------- -------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 763 3,606
Class B................................................. 293 (854)
Class C................................................. 492 173
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. -- --
Class Z................................................. -- --
------- -------
Net increase (decrease) from capital share transactions... 1,548 2,925
------- -------
Net increase (decrease) in net assets..................... 1,532 3,455
NET ASSETS:
Beginning of period....................................... 17,311 13,856
------- -------
End of period............................................. $18,843 $17,311
======= =======
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 3 $ 2
======= =======
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
260
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE MINNESOTA FUND TAX-FREE NATIONAL FUND TAX-FREE NEW YORK FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 1,341 $ 1,456 $ 3,645 $ 3,552 $ 486 $ 441
57 571 698 480 32 22
(802) 256 (1,637) 1,916 (160) 422
-- -- -- -- -- --
------- ------- -------- ------- ------- -------
596 2,283 2,706 5,948 358 885
------- ------- -------- ------- ------- -------
(188) (147) (1,544) (1,286) (378) (375)
(22) (17) (210) (218) (46) (40)
(11) (12) (258) (271) (61) (50)
(1,013) (1,147) (1,259) (1,379) -- --
(4) (4) (14) (44) -- --
(108) (107) (301) (300) -- --
(4) (9) (42) (46) -- --
(6) (7) (17) (19) -- --
@@ @@ @@ @@ -- --
-- -- -- -- -- --
-- (99) -- (409) (17) (69)
-- (15) -- (98) (2) (8)
-- (9) -- (119) (3) (12)
-- (720) -- (500) -- --
-- (3) -- (21) -- --
-- (72) -- (113) -- --
-- (8) -- (19) -- --
-- (5) -- (8) -- --
-- @@ -- @@ -- --
-- -- -- -- -- --
------- ------- -------- ------- ------- -------
(1,356) (2,381) (3,645) (4,850) (507) (554)
------- ------- -------- ------- ------- -------
1,369 1,059 11,403 13,426 763 1,688
186 112 713 (433) 244 479
105 (90) 224 648 733 538
(1,020) (2,361) (848) (2,339) -- --
3 (41) (360) (1,112) -- --
185 (150) 339 135 -- --
(75) (249) (91) 146 -- --
(13) 2 (48) (68) -- --
9 @@ 9 @@ -- --
-- -- -- -- -- --
------- ------- -------- ------- ------- -------
749 (1,718) 11,341 10,403 1,740 2,705
------- ------- -------- ------- ------- -------
(11) (1,816) 10,402 11,501 1,591 3,036
35,900 37,716 92,186 80,685 14,082 11,046
------- ------- -------- ------- ------- -------
$35,889 $35,900 $102,588 $92,186 $15,673 $14,082
======= ======= ======== ======= ======= =======
$ 1 $ 16 $ 21 $ 21 $ 4 $ 3
======= ======= ======== ======= ======= =======
</Table>
261
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF CHANGES IN NET ASSETS -- (CONTINUED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TOTAL RETURN BOND FUND
-----------------------------------------
FOR THE YEAR FOR THE YEAR
ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ----------------
OPERATIONS:
Net investment income (loss).............................. $ 19,599 $ 15,635
Net realized gain (loss) on investments, futures and
options contracts and foreign currency transactions..... 5,437 4,248
Net unrealized appreciation (depreciation) of investments,
futures and options contracts and foreign currency
transactions............................................ (20,037) 7,032
Payment from affiliate.................................... -- 243
-------- --------
Net increase (decrease) in net assets resulting from
operations.............................................. 4,999 27,158
-------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A................................................. (11,070) (9,501)
Class B................................................. (2,517) (2,503)
Class C................................................. (2,408) (2,575)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (6,306) (2,548)
Class Z................................................. -- --
From net realized gain on investments
Class A................................................. (1,135) (9,077)
Class B................................................. (350) (3,538)
Class C................................................. (338) (3,675)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. (399) (2,000)
Class Z................................................. -- --
-------- --------
Total distributions..................................... (24,523) (35,417)
-------- --------
CAPITAL SHARE TRANSACTIONS:
Class A................................................. 22,124 34,420
Class B................................................. (8,201) (12,343)
Class C................................................. (13,022) (18,887)
Class E................................................. -- --
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Class Y................................................. 91,775 41,626
Class Z................................................. -- --
-------- --------
Net increase (decrease) from capital share transactions... 92,676 44,816
-------- --------
Net increase (decrease) in net assets..................... 73,152 36,557
NET ASSETS:
Beginning of period....................................... 581,628 545,071
-------- --------
End of period............................................. $654,780 $581,628
======== ========
Accumulated undistributed (distribution in excess of) net
investment income......................................... $ 673 $ 920
======== ========
</Table>
* Commencement of operations.
** Relates to investments in affiliated investment companies.
@@ 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.
262
- --------------------------------------------------------------------------------
<Table>
<Caption>
U.S. GOVERNMENT SECURITIES FUND VALUE FUND VALUE OPPORTUNITIES FUND
----------------------------------- ----------------------------------- -----------------------------------
FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR FOR THE YEAR
ENDED ENDED ENDED ENDED ENDED ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004 OCTOBER 31, 2005 OCTOBER 31, 2004
---------------- ---------------- ---------------- ---------------- ---------------- ----------------
$ 10,461 $ 11,840 $ 1,031 $ 451 $ 419 $ (142)
(2,240) (3,335) 3,426 2,286 11,628 6,095
(6,406) 2,969 8,587 3,886 (2,335) 2,953
-- -- -- -- -- --
-------- -------- -------- ------- -------- -------
1,815 11,474 13,044 6,623 9,712 8,906
-------- -------- -------- ------- -------- -------
(2,127) (2,410) (209) (373) -- --
(834) (1,059) -- (14) -- --
(422) (628) -- (19) -- --
(5,161) (5,830) -- -- -- --
(119) (175) -- -- -- --
(1,590) (1,761) -- -- -- --
(111) (147) -- -- -- --
(35) (42) -- -- -- --
(292) @@ (328) @@ -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-------- -------- -------- ------- -------- -------
(10,691) (12,052) (537) (406) -- --
-------- -------- -------- ------- -------- -------
(4,366) (11,823) 209 10,636 39,283 16,891
(4,109) (11,914) 179 990 7,330 3,329
(3,870) (12,661) (1,706) (285) 7,207 3,625
(10,531) (15,784) -- -- -- --
(1,078) (2,359) -- -- (1,751) (1,631)
(2,425) (4,504) -- -- (783) (532)
(830) (887) -- -- (1,496) (1,025)
(179) (330) -- -- (356) (137)
9,491 @@ 34,771 20,782 83,958 9,702
-- -- -- -- -- --
-------- -------- -------- ------- -------- -------
(17,897) (60,262) 33,453 32,123 133,392 30,222
-------- -------- -------- ------- -------- -------
(26,773) (60,840) 45,960 38,340 143,104 39,128
260,749 321,589 98,004 59,664 87,822 48,694
-------- -------- -------- ------- -------- -------
$233,976 $260,749 $143,964 $98,004 $230,926 $87,822
======== ======== ======== ======= ======== =======
$ 90 $ 44 $ 859 $ 377 $ 397 $ --
======== ======== ======== ======= ======== =======
</Table>
263
THE HARTFORD MUTUAL FUNDS, INC.
STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM APRIL 29, 2005 (COMMENCEMENT OF OPERATIONS) TO OCTOBER 31,
2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FLOATING RATE FUND
------------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net increase in net assets from operations................ $ 2,584
Adjustments to reconcile net increase in net assets from
operations to net cash used in operating activities:
Purchase of investment securities...................... (283,741)
Proceeds from disposition of investment securities..... 19,212
Sale of short-term investment securities, net.......... (24,463)
Increase in interest receivable........................ (1,582)
Increase in receivable for investment securities
sold.................................................. (503)
Increase in other assets............................... (113)
Increase in payable for investments purchased.......... 24,360
Increase in investment advisory fees payable........... 29
Increase in distribution fees payable.................. 22
Increase in accrued expenses........................... 13
Unrealized depreciation on securities and currencies... 284
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITY:
Dividends reinvested...................................... $ 2,055
=========
Net realized gain from investments and currencies...... (40)
---------
Total adjustments.................................... (266,522)
---------
NET CASH USED IN OPERATING ACTIVITIES....................... (263,938)
---------
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from shares sold................................. 292,413
Cash dividends paid....................................... (770)
Payments on shares redeemed............................... (27,704)
---------
Net cash provided by financing activities.............. 263,939
---------
NET INCREASE IN CASH........................................ 1
Cash at beginning of the period............................. --
---------
CASH AT END OF THE PERIOD................................... $ 1
=========
</Table>
264
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS
OCTOBER 31, 2005
(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
forty-eight portfolios (each a "Fund" or together the "Funds"). They are The
Hartford Advisers Fund (Advisers Fund), The Hartford Aggressive Growth
Allocation Fund (Aggressive Growth Allocation Fund), The Hartford Balanced
Allocation Fund (Balanced Allocation Fund), The Hartford Capital
Appreciation Fund (Capital Appreciation Fund), The Hartford Capital
Appreciation II Fund (Capital Appreciation II Fund), The Hartford
Conservative Allocation Fund (Conservative Allocation Fund), The Hartford
Disciplined Equity Fund (Disciplined Equity Fund), The Hartford Dividend and
Growth Fund (Dividend and Growth Fund), The Hartford Equity Income Fund
(Equity Income Fund), The Hartford Floating Rate Fund (Floating Rate Fund),
The Hartford Focus Fund (Focus Fund), The Hartford Global Communications
Fund (Global Communications Fund), The Hartford Global Financial Services
Fund (Global Financial Services Fund), The Hartford Global Health Fund
(Global Health Fund), The Hartford Global Leaders Fund (Global Leaders
Fund), The Hartford Global Technology Fund (Global Technology Fund), The
Hartford Growth Allocation Fund (Growth Allocation Fund), The Hartford
Growth Fund (Growth Fund), The Hartford Growth Opportunities Fund (Growth
Opportunities Fund), The Hartford High Yield Fund (High Yield Fund), The
Hartford Income Allocation Fund (Income Allocation Fund), The Hartford
Income Fund (Income Fund), The Hartford Inflation Plus Fund (Inflation Plus
Fund), The Hartford International Capital Appreciation Fund (International
Capital Appreciation Fund), The Hartford International Opportunities Fund
(International Opportunities Fund), The Hartford International Small Company
Fund (International Small Company Fund), The Hartford MidCap Fund (MidCap
Fund), The Hartford MidCap Value Fund (MidCap Value Fund), The Hartford
Money Market Fund (Money Market Fund), The Hartford Retirement Income Fund
(Retirement Income Fund), The Hartford Select MidCap Growth Fund (Select
MidCap Growth Fund), The Hartford Select MidCap Value Fund (Select MidCap
Value Fund), The Hartford Select SmallCap Growth Fund (Select SmallCap
Growth Fund), The Hartford Short Duration Fund (Short Duration Fund), The
Hartford Small Company Fund (Small Company Fund), The Hartford SmallCap
Growth Fund (SmallCap Growth Fund), The Hartford Stock Fund (Stock Fund),
The Hartford Target Retirement 2010 Fund (Target Retirement 2010 Fund), The
Hartford Target Retirement 2020 Fund (Target Retirement 2020 Fund), The
Hartford Target Retirement 2030 Fund (Target Retirement 2030 Fund), The
Hartford Tax-Free California Fund (Tax-Free California Fund), The Hartford
Tax-Free Minnesota Fund (Tax-Free Minnesota Fund), The Hartford Tax-Free
National Fund (Tax-Free National Fund), The Hartford Tax-Free New York Fund
(Tax-Free New York Fund), The Hartford Total Return Bond Fund (Total Return
Bond Fund), The Hartford U.S. Government Securities Fund (U.S. Government
Securities Fund), The Hartford Value Fund (Value Fund) and The Hartford
Value Opportunities Fund (Value Opportunities Fund). The Companies are
organized under the laws of the State of Maryland and are 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 Focus Fund, Global Communications Fund, Global
Financial Services Fund, Global Health Fund, Global Technology Fund,
Inflation Plus Fund, Tax-Free California Fund and Tax-Free New York Fund,
which are non-diversified.
Class A shares are sold with a front-end sales charge of up to 5.50%, except
for High Yield Fund, Income Allocation Fund, Income Fund, Inflation Plus
Fund, Tax-Free California Fund, Tax-Free Minnesota Fund, Tax-Free National
Fund, Tax-Free New York Fund, Total Return Bond Fund and U.S. Government
Securities Fund, which have a maximum front-end sales charge of up to 4.50%.
The Floating Rate Fund and Short Duration Fund have a maximum front-end
sales charge of up to 3.00%. Class B shares are sold with a contingent
deferred sales charge which is assessed on the lesser of the 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 contingent deferred sales charge of
up to 1.00%. Class E shares are sold with a front-end sales charge of 4.50%.
Classes H and M 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 4.00%
to zero depending on the period of time the shares are held. Class L shares
are sold with a sales charge of up to 4.75%. Class N shares are 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 shares are 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.
Each of the following Funds ("Allocation Funds"): Aggressive Growth
Allocation Fund, Balanced Allocation Fund, Conservative Allocation Fund,
Growth Allocation Fund and Income Allocation Fund and ("Target Retirement
Funds"): Retirement Income Fund, Target Retirement 2010 Fund, Target
Retirement 2020 Fund and Target Retirement 2030 Fund is a "Fund of Funds",
which invests the majority of its assets in Class Y shares of other Hartford
mutual funds: domestic and international equity funds and fixed income funds
(Underlying Funds). The Allocation Funds seek their investment goals through
implementation of a strategic asset allocation recommendation provided by
Hartford Investment Financial Services, LLC (HIFSCO). The Target Retirement
Funds seek their investment goals through implementation of a strategic
asset allocation recommendation provided by Hartford Investment Management
Company (Hartford Investment). Ibbotson Associates, Inc. ("Ibbotson") serves
as a consultant to HIFSCO and Hartford Investment with respect to selecting
the Underlying Funds and the Funds' asset allocations among the Underlying
Funds. Each Underlying Fund's accounting policies are outlined below.
Indemnifications: Under the Funds' organizational documents, their
directors and officers are indemnified against certain liabilities arising
out of the performance of their duties to the Funds. In addition, the Funds
enter into contracts that contain a variety of indemnifications. The Funds'
maximum exposure under these arrangements is unknown. However, the Funds
have not had prior claims or losses pursuant to these contracts and expect
the risk of loss to be remote.
265
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
2. SIGNIFICANT ACCOUNTING POLICIES:
The following is a summary of significant accounting policies of the Funds,
which are in accordance with U.S. 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. Trade date for
senior floating rate loan interests purchased in the primary market is
considered the date on which the loan allocations are determined. Trade
date for senior floating rate loan interests purchased in the secondary
market is the date on which the transaction is entered into.
b) Security Valuation and Investment Income -- 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. Senior
floating rate interests generally trade in over-the counter markets and
are priced through an independent pricing service utilizing independent
market quotations from loan dealers or financial institutions.
Securities for which prices are not available from an independent
pricing service, but where an active market exists, are valued using
market quotations obtained from one or more dealers that make markets in
the securities or from a widely-used quotation system in accordance with
procedures established by the Funds' Board of Directors. Debt
investments held by the Funds with a maturity of 60 days or less are
valued at amortized cost, which approximates market value. Short-term
investments 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 a maturity of more than 60 days when purchased are valued based on
market quotations until the remaining days to maturity become less than
61 days. From such time until maturity, the investments are valued at
amortized cost.
Equity securities are valued at the official closing price or at the
last sales price reported on principal securities exchanges (domestic or
foreign) on which they are traded. If no sale took place on a particular
day and in the case of certain equity securities traded
over-the-counter, then such securities are valued at the mean between
the bid and asked prices. For securities traded on the NASDAQ (National
Association of Securities Dealers Automated Quotation System) national
market system, the Funds utilize the NASDAQ Official Closing Price which
compares the last trade to the bid/ask range of a security. If the last
trade falls within the bid-ask range, then that price will be the
closing price. If the last trade is outside the bid/ask range, and falls
above the ask, the ask will be the closing price. If the last price is
below the bid, the bid will be the closing price. The difference between
cost and market value for debt and equity securities is recorded in the
Statement of Operations and accumulated in net assets.
The Funds generally use market prices in valuing portfolio securities.
Securities of foreign issuers and non-dollar securities are valued on
the basis of quotations from the primary market in which they are
traded, and are translated from the local currency into U.S. dollars
using prevailing exchange rates. If market quotations are not readily
available or are deemed unreliable, the Funds will use the fair value of
the security as determined in good faith under policies and procedures
established by and under the supervision of that Fund's Board of
Directors. Market prices may be deemed unreliable, for example, if an
event has occurred after the close of the exchange on which a portfolio
security is principally traded but before the close of the NYSE (New
York Stock Exchange) that is expected to affect the value of the
portfolio security. The circumstances in which a Fund may use fair value
pricing include, among others: (i) the occurrence of events that are
significant to a particular issuer, such as mergers, restructuring or
defaults; (ii) the occurrence of events that are significant to an
entire market, such as natural disasters in a particular region or
governmental actions; (iii) trading restrictions on securities; (iv) for
thinly traded securities and (v) market events such as trading halts and
early market closings. In addition, with respect to the valuation of
securities principally traded on foreign markets, the Funds use a fair
value pricing service approved by that Fund's Board, which employs
quantitative models to adjust for "sale" prices caused by the movement
of other markets and other factors occurring after the close of the
foreign exchanges but before the close of the NYSE. Fair value pricing
is subjective in nature and the use of fair value pricing by the Funds
may cause the net asset value of their respective shares to differ
significantly from the net asset value that would be calculated using
prevailing market values. There can be no assurance that the Funds could
obtain the fair value assigned to a security if it were to sell the
security at approximately the time at which the Funds determines its NAV
per share.
Options are valued at the last sales price; if no sale took place on a
particular day, then options are valued at the mean between the bid and
asked prices.
Securities for which market quotations are not readily available or are
deemed unreliable and all other assets are valued in good faith at fair
value by, or under guidelines established by, the Funds' Board of
Directors.
Investments in open-end mutual funds are valued at the respective net
asset value of each Underlying Fund on the valuation date.
Dividend income is recorded on the ex-dividend date. Interest income,
including amortization of bond premium and discount, is recorded on the
accrual basis. Income and capital gain distributions from underlying
funds are recorded on the ex-dividend date.
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
266
- --------------------------------------------------------------------------------
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 which is then invested in short-term money market instruments, or
U.S. Government Securities with a market value at least equal to the
market value of the securities on loan. The adequacy of collateral for
securities out on loan is monitored on a daily basis. For instances
where the market value of collateral falls below the market value of
securities out on loan, such collateral is supplemented on the following
day. As with other extensions of credit, these Funds may bear the risk
of delay in recovery of loaned securities or even loss of rights in the
collateral should the borrower of the securities fail financially.
e) Joint Trading Account -- Pursuant to an exemptive order issued by the
SEC, the Funds may transfer uninvested cash balances into a joint
trading account managed by Hartford Investment 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 Funds or a third party
custodial account. Repurchase agreements are valued at cost plus accrued
interest receivable.
Certain Funds, together with other investment management companies
having investment advisory agreements with Wellington, have an interest
in joint repurchase agreements in the amount of $1,526,467 dated
10/31/05 with Bank of America, J.P. Morgan Chase and UBS Securities, LTC
due 11/1/05. These joint repurchase agreements are collateralized as
follows:
<Table>
<Caption>
COLLATERAL
BROKER RATE PRINCIPAL VALUE SECURITY TYPE COUPON RATE MATURITY
------ ----- --------- ---------- ------------------ --------------- ------------
Bank of America.......... 3.92% $ 51,467 $ 52,596 U.S. Treasury Bond 7.125% 2023
Bank of America.......... 4.03% 570,000 578,851 FHLMC 5.00% - 5.50% 2020 - 2035
FNMA 4.50% - 6.00% 2033 - 2035
J.P. Morgan Chase........ 4.03% 365,000 372,303 FNMA 4.50% - 9.00% 2007 - 2035
UBS Securities, LLC...... 4.03% 540,000 550,804 FHLMC 4.00% - 11.50% 2006 - 2035
FNMA 3.00% - 11.50% 2006 - 2035
</Table>
The maturity amounts are as follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
Advisers Fund............................................... $32,386
Capital Appreciation Fund................................... 365,517
Capital Appreciation II Fund................................ 3,458
Dividend and Growth Fund.................................... 95,769
Equity Income Fund.......................................... 12,724
Focus Fund.................................................. 948
Global Communications Fund.................................. 756
Global Financial Services................................... 880
Global Health Fund.......................................... 7,987
Global Technology Fund...................................... 359
Growth Fund................................................. 36,148
Growth Opportunities Fund................................... 42,204
High Yield Fund............................................. 5,431
International Capital Appreciation Fund..................... 8,087
International Opportunities Fund............................ 8,834
International Small Company Fund............................ 2,370
MidCap Fund................................................. 77,278
MidCap Value Fund........................................... 2,727
Small Company Fund.......................................... 13,193
SmallCap Growth Fund........................................ 9,751
Stock Fund.................................................. 2,772
Value Fund.................................................. 4,435
Value Opportunities Fund.................................... 2,205
</Table>
267
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
Certain Funds, together with other investment management companies
having investment advisory agreements with Hartford Investment, have an
interest in $817,926 joint repurchase agreements dated 10/31/05 with BNP
Paribas Securities Corp., Greenwich Capital Markets and UBS Securities,
LLC due 11/1/05. These joint repurchase agreements are collateralized as
follows:
<Table>
<Caption>
COLLATERAL
BROKER RATE PRINCIPAL VALUE SECURITY TYPE COUPON RATE MATURITY
------ ----- --------- ---------- ------------------- --------------- ------------
BNP Paribas Securities
Corp. ................. 3.91% $275,000 $280,869 U.S. Treasury Bonds 6.50% - 9.875% 2015 - 2026
U.S. Treasury Notes 12.50% 2014
Greenwich Capital
Markets................ 3.92% 275,000 281,319 U.S. Treasury Bills 3.64% 2005
UBS Securities, LLC...... 3.92% 267,926 273,853 U.S. Treasury Bonds 7.25% - 8.875% 2016 - 2021
</Table>
The maturity amounts are as follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
Income Fund................................................. $ 447
Inflation Plus Fund......................................... 19,651
Short Duration Fund......................................... 4,224
Total Return Bond Fund...................................... 105,178
U.S. Government Securities Fund............................. 3,590
</Table>
The SmallCap Growth Fund has an interest in a $9,750 repurchase
agreement dated 10/31/05 with Deutsche Bank., 3.93% due 11/1/05. This
repurchase agreement is collateralized by $9,963 in a U.S. Treasury Note
2.625% due 2008.
In addition, Advisers Fund and Capital Appreciation Fund hold collateral
for securities out on loan in repurchase agreements. The Advisers Fund
lending agreement is collateralized by an interest in $4,973 repurchase
agreement dated 10/31/05 with Lehman Brothers, Inc., 3.98% due 11/1/05.
This repurchase agreement was collateralized by $5,074 in FHLMC 5.00%
due 2010. The Capital Appreciation Fund lending agreement was
collateralized by an interest in a $6,383 repurchase agreement dated
10/31/05 with Lehman Brothers, Inc., 3.98% due 11/1/05. This repurchase
agreement is collateralized by $6,515 in FHLMC, 5.00% due 2010.
g) Futures and Options Transactions -- Certain Funds may invest in futures
contracts and options contracts in order to gain exposure to or protect
against changes in the market. A futures contract is an agreement
between two parties to buy and sell a security at a set price on a
future date. When the Funds enter into futures 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 involves elements of market risk, which may
exceed the amounts recognized in the Statements of Assets and
Liabilities. Changes in the value of the futures contracts may decrease
the effectiveness of a Fund's strategies and potentially result in loss.
Income Fund and SmallCap Growth Fund had outstanding futures contracts
as of October 31, 2005.
The premium paid by a Fund for the purchase of a call or put option is
included in the Funds' Statements 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 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 its
custodian for the term of the option a "segregated account" consisting
of cash or other liquid securities having a value equal to or greater
than 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 Statements 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
268
- --------------------------------------------------------------------------------
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. Transactions involving written option contracts for the Funds
during the year ended October 31, 2005 are summarized below:
<Table>
<Caption>
HARTFORD SMALLCAP GROWTH FUND OPTIONS CONTRACTS ACTIVITY
DURING THE YEAR ENDED OCTOBER 31, 2005
--------------------------------------------------------
CALL OPTIONS WRITTEN DURING THE PERIOD NUMBER OF CONTRACTS PREMIUM AMOUNTS REALIZED GAIN
-------------------------------------- -------------------- ---------------- --------------
Beginning of the period..................................... -- $ -- $--
Written..................................................... 324 53 --
Expired..................................................... -- -- --
Closed...................................................... (324) (53) 46
Exercised................................................... -- -- --
----- ---- ---
End of the period........................................... -- $ -- $46
----- ---- ---
</Table>
h) Forward Foreign Currency Contracts -- For the period ended October 31,
2005, Advisers Fund, Capital Appreciation Fund, Capital Appreciation II
Fund, Focus Fund, Global Financial Services Fund, Global Leaders Fund,
Global Technology Fund, Income Fund, Inflation Plus Fund, International
Capital Appreciation Fund, International Opportunities Fund,
International Small Company Fund, MidCap Value Fund, Stock Fund, Small
Company Fund and 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 foreign currency contracts involve elements of market risk in
excess of the amount reflected in the Statements 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. The U.S. dollar value of
forward foreign currency contracts is determined using forward foreign
currency exchange rates supplied by an independent pricing service.
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 in using
conventional securities. Indexed securities may be more volatile than
their underlying instruments, but any loss is limited to the amount of
the original investment and there may be a limit to the potential
appreciation of the investment.
j) (1) 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 (IRC) by distributing
substantially all of their taxable net investment income and net
realized capital gains to their shareholders and 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 they do not distribute substantially all of their net investment
income and realized gains, if any. The Funds have distributed
substantially all of their income and gains in prior years and each Fund
intends to distribute substantially all of its income and gains during
the calendar year ended December 31, 2005. Accordingly, no provision for
federal income taxes has been made in the accompanying financial
statements. Distributions from short-term capital gains are treated as
ordinary income distributions for federal income and or excise tax
purposes.
The tax character of distributions paid for the periods indicated is as
follows:
<Table>
<Caption>
FOR THE PERIOD ENDED OCTOBER 31, 2005 FOR THE PERIOD ENDED OCTOBER 31, 2004
--------------------------------------- ----------------------------------------------
TAX EXEMPT ORDINARY LONG-TERM TAX EXEMPT LONG-TERM
INCOME INCOME CAPITAL GAINS INCOME ORDINARY INCOME CAPITAL GAINS
---------- -------- ------------- ---------- --------------- -------------
Advisers Fund................. $ -- $37,568 $ -- $ -- $24,483 $ --
Aggressive Growth Allocation
Fund........................ -- 39 -- -- -- --
Balanced Allocation Fund...... -- 2,330 -- -- 77 --
Conservative Allocation
Fund........................ -- 1,501 -- -- 67 --
Disciplined Equity Fund....... -- 2,192 -- -- 154 --
Dividend and Growth Fund...... -- 31,677 26,222 -- 15,746 --
Equity Income Fund............ -- 8,509 -- -- 3,108 --
Floating Rate Fund@........... -- 2,825 -- -- -- --
Focus Fund.................... -- 34 -- -- -- --
Global Communications Fund.... -- 106 -- -- -- --
Global Financial Services
Fund........................ -- 198 -- -- 133 --
Global Health Fund............ -- -- 15,627 -- -- 1,115
Growth Allocation Fund........ -- 306 -- -- -- --
High Yield Fund............... -- 21,926 -- -- 21,004 --
Income Allocation Fund........ -- 882 -- -- 56 --
Income Fund................... -- 2,379 160 -- 1,577 --
Inflation Plus Fund........... -- 34,177 4,354 -- 16,261 --
International Capital
Appreciation Fund........... -- -- -- -- 37 65
</Table>
269
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FOR THE PERIOD ENDED OCTOBER 31, 2005 FOR THE PERIOD ENDED OCTOBER 31, 2004
--------------------------------------- ----------------------------------------------
TAX EXEMPT ORDINARY LONG-TERM TAX EXEMPT LONG-TERM
INCOME INCOME CAPITAL GAINS INCOME ORDINARY INCOME CAPITAL GAINS
---------- -------- ------------- ---------- --------------- -------------
International Opportunities
Fund........................ $ -- $ -- $ -- $ -- $ 63 $ --
International Small Company
Fund........................ -- 8,255 733 -- 2,967 82
MidCap Fund................... -- -- 55,053 -- -- --
MidCap Value Fund............. -- 10,451 20,593 -- -- --
Money Market Fund............. -- 4,593 -- -- 615 --
Retirement Income Fund@@...... -- -- -- -- -- --
Short Duration Fund........... -- 4,345 -- -- 2,152 --
Stock Fund.................... -- 6,624 -- -- -- --
Tax-Free California Fund...... 633 -- -- 636 -- --
Tax-Free Minnesota Fund....... 1,381 -- 85 1,423 13 835
Tax-Free National Fund........ 3,716 -- 79 3,491 284 924
Tax-Free New York............. 486 -- 22 463 89 --
Total Return Bond Fund........ -- 23,616 954 -- 34,174 1,196
U.S. Government Securities
Fund........................ -- 10,868 -- -- 11,875 --
Value Fund.................... -- 537 -- -- 406 --
</Table>
@ Commenced operations on April 29, 2005.
@@ Commenced operations on September 30, 2005.
As of October 31, 2005, the components of distributable earnings
(deficit) on a tax basis are as follows:
<Table>
<Caption>
ACCUMULATED TOTAL
UNDISTRIBUTED UNDISTRIBUTED CAPITAL UNREALIZED ACCUMULATED
ORDINARY LONG-TERM GAINS APPRECIATION EARNINGS
INCOME CAPITAL GAIN (LOSSES)* (DEPRECIATION)** (DEFICIT)***
------------- ------------- ----------- ---------------- ------------
Advisers Fund............... $ 2,060 $ -- $(175,177) $ 94,229 $ (78,888)
Aggressive Growth Allocation
Fund...................... -- 64 -- 5,704 5,768
Balanced Allocation Fund.... 1,150 299 -- 14,704 16,153
Capital Appreciation Fund... 60,756 884,005 -- 1,197,289 2,142,050
Capital Appreciation II
Fund...................... 1,195 -- -- 1,277 2,472
Conservative Allocation
Fund...................... 878 686 -- 1,133 2,697
Disciplined Equity Fund..... 600 -- (80,201) 30,160 (49,441)
Dividend and Growth Fund.... 16,817 98,285 -- 342,151 457,253
Equity Income Fund.......... 1,452 1,336 -- 28,790 31,578
Floating Rate Fund.......... 89 -- -- (284) (195)
Focus Fund.................. 321 -- (10,339) 4,026 (5,992)
Global Communications
Fund...................... 253 -- (3,752) 3,625 126
Global Financial Services
Fund...................... 122 -- (322) 2,947 2,747
Global Health Fund.......... 14,523 17,301 -- 43,143 74,967
Global Leaders Fund......... 917 7,456 -- 32,898 41,271
Global Technology Fund...... -- -- (55,987) 4,185 (51,802)
Growth Allocation Fund...... 128 201 -- 16,477 16,806
Growth Fund................. -- -- (7,365) 100,244 92,879
Growth Opportunities Fund... -- 69,507 -- 103,249 172,756
High Yield Fund............. 291 -- (78,042) (7,589) (85,340)
Income Allocation Fund...... 60 -- -- (723) (663)
Income Fund................. 15 -- (311) (734) (1,030)
Inflation Plus Fund......... 836 3,229 -- (6,692) (2,627)
International Capital
Appreciation Fund......... 2,325 1,965 -- 12,184 16,474
International Opportunities
Fund...................... 482 -- (17,626) 11,126 (6,018)
International Small Company
Fund...................... 10,193 5,090 -- 2,315 17,598
MidCap Fund................. 63,189 412,265 -- 447,046 922,500
MidCap Value Fund........... 13,883 30,157 -- 41,469 85,509
Money Market Fund........... -- -- -- -- --
Retirement Income Fund...... @@ -- @@ (1) (1)
Select MidCap Growth Fund... 195 -- -- 223 418
Select MidCap Value Fund.... 636 -- -- 507 1,143
Select SmallCap Growth
Fund...................... -- -- (15) (235) (250)
Short Duration Fund......... 6 -- (1,493) (1,995) (3,482)
Small Company Fund.......... -- -- (37,327) 50,606 13,279
SmallCap Growth Fund........ -- -- (27,596) 19,611 (7,985)
</Table>
270
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACCUMULATED TOTAL
UNDISTRIBUTED UNDISTRIBUTED CAPITAL UNREALIZED ACCUMULATED
ORDINARY LONG-TERM GAINS APPRECIATION EARNINGS
INCOME CAPITAL GAIN (LOSSES)* (DEPRECIATION)** (DEFICIT)
------------- ------------- ----------- ---------------- -----------
Stock Fund.................. $ 2,294 $ -- $(477,787) $ 64,165 $ (411,328)
Target Retirement 2010
Fund...................... @@ -- @@ (1) (1)
Target Retirement 2020
Fund...................... @@ -- @@ 1 1
Target Retirement 2030
Fund...................... @@ -- @@ (1) (1)
Tax-Free California Fund.... 3 12 -- 381 396
Tax-Free Minnesota Fund..... 1 57 -- 1,343 1,401
Tax-Free National Fund...... 21 698 -- 3,631 4,350
Tax-Free New York Fund...... 11 25 -- 336 372
Total Return Bond Fund...... 3,424 1,219 -- (10,738) (6,095)
U.S. Government Securities
Fund...................... 90 -- (12,581) (2,310) (14,801)
Value Fund.................. 859 -- (1,502) 15,524 14,881
Value Opportunities Fund.... 2,423 5,425 -- 7,695 15,543
</Table>
* Certain Funds had capital loss carryforwards that are identified in
Note 2(j)(3).
** The differences between book-basis and tax-basis unrealized
appreciation (depreciation) is attributable primarily to the tax
deferral of wash sale losses and the mark to market adjustment for
certain derivatives in accordance with IRC Sec. 1256.
j) (2) 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 loss 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, expiration of capital loss carryforwards,
distributions upon redemptions 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 Statements 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 period ended October 31, 2005, 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
-------------- ------------ -------
Advisers Fund............................................... $ (318) $ 225 $ 93
Aggressive Growth Allocation Fund........................... 541 (478) (63)
Balanced Allocation Fund.................................... 9 -- (9)
Capital Appreciation Fund................................... (8,850) 8,506 344
Capital Appreciation II Fund................................ 121 (85) (36)
Conservative Allocation Fund................................ 3 -- (3)
Disciplined Equity Fund..................................... (54) 54 --
Dividend and Growth Fund.................................... (250) 250 --
Equity Income Fund.......................................... (24) 24 --
Floating Rate Fund.......................................... 86 (40) (46)
Focus Fund.................................................. (30) 29 1
Global Communications Fund.................................. 3 (4) 1
Global Financial Services Fund.............................. (8) 8 --
Global Health Fund.......................................... 2,905 (2,905) --
Global Leaders Fund......................................... (963) 963 --
Global Technology Fund...................................... 169 48 (217)
Growth Allocation Fund...................................... 2 (2) --
Growth Fund................................................. 2,884 187 (3,071)
Growth Opportunities Fund................................... 2,756 546 (3,302)
High Yield Fund............................................. 884 (884) --
Income Allocation Fund...................................... @@ @@ --
Income Fund................................................. 54 (54) --
Inflation Plus Fund......................................... 874 (874) --
International Capital Appreciation Fund..................... (202) 202 --
International Opportunities Fund............................ 69 (69) --
International Small Company Fund............................ (1,486) 1,425 61
MidCap Fund................................................. 11,958 (11,700) (258)
</Table>
271
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
UNDISTRIBUTED ACCUMULATED
NET INVESTMENT NET REALIZED PAID-IN
INCOME GAIN (LOSS) CAPITAL
-------------- ------------ -------
MidCap Value Fund........................................... $ 2,245 $ (2,245) $ --
Retirement Income Fund...................................... @@ @@ --
Select MidCap Growth Fund................................... 125 (113) (12)
Select MidCap Value Fund.................................... 19 -- (19)
Select SmallCap Growth Fund................................. 3 -- (3)
Small Company Fund.......................................... 3,254 146 (3,400)
SmallCap Growth Fund........................................ 1,819 43 (1,862)
Stock Fund.................................................. (307) 307 --
Target Retirement 2010 Fund................................. @@ -- @@
Target Retirement 2020 Fund................................. @@ -- @@
Target Retirement 2030 Fund................................. @@ -- @@
Total Return Bond Fund...................................... 2,455 (2,455) --
U.S. Government Securities Fund............................. 276 (276) --
Value Fund.................................................. (12) 12 --
Value Opportunities Fund.................................... (22) 22 --
</Table>
j) (3) Capital Loss Carryforwards -- As of October 31, 2005 (tax year-end),
the following Funds had capital loss carryforwards for U.S. federal
income tax purposes as follows:
<Table>
<Caption>
YEAR OF EXPIRATION
-----------------------------------------------------------------------------------
FUND 2007 2008 2009 2010 2011 2012 2013 TOTAL
---- ------ ------- ------- ------- -------- ------ ------ --------
Advisers Fund....................... $ -- $ -- $ -- $62,732 $112,444 $ -- $ -- $175,176
Disciplined Equity Fund............. -- -- -- 53,565 26,636 -- -- 80,201
Focus Fund.......................... -- -- -- -- 10,339 -- -- 10,339
Global Communications Fund.......... -- -- -- 3,068 684 -- -- 3,752
Global Financial Services Fund...... -- -- -- -- 322 -- -- 322
Global Technology Fund.............. -- -- 21,094 34,893 -- -- -- 55,987
Growth Fund......................... -- -- -- 448 6,917 -- -- 7,365
High Yield Fund..................... 2,778 19,805 1,643 25,246 28,570 -- -- 78,042
Income Fund......................... -- -- -- -- -- -- 311 311
International Opportunities Fund.... -- 2,660 730 12,102 2,135 -- 17,627
Retirement Income Fund.............. -- -- -- -- -- -- @@ @@
Select SmallCap Growth Fund......... -- -- -- -- -- -- 15 15
Short Duration Fund................. -- -- -- -- 221 295 977 1,493
Small Company Fund.................. -- -- 5,413 31,914 -- -- -- 37,327
SmallCap Growth Fund................ -- -- 17,781 6,564 3,251 -- -- 27,596
Stock Fund.......................... -- -- 35,641 246,128 196,018 -- -- 477,787
Target Retirement 2010 Fund......... -- -- -- -- -- -- @@ @@
Target Retirement 2020 Fund......... -- -- -- -- -- -- @@ @@
Target Retirement 2030 Fund......... -- -- -- -- -- -- @@ @@
U.S. Government Securities Fund..... 2,205 3,597 -- -- 672 3,591 2,517 12,582
Value Fund.......................... -- -- -- -- 1,502 -- -- 1,502
</Table>
In accordance with Section 382 of the Internal Revenue Code, utilization
of all or a portion of the above capital loss carryforwards (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>
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 NYSE. 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 next determined
per-share net asset value.
272
- --------------------------------------------------------------------------------
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
Aggressive Growth Allocation Fund, Capital Appreciation Fund, Capital
Appreciation II Fund, Disciplined Equity Fund, Focus Fund, Global
Communications Fund, Global Financial Services Fund, Global Health Fund,
Global Leaders Fund, Global Technology Fund, Growth Allocation Fund,
Growth Fund, Growth Opportunities Fund, International Capital
Appreciation Fund, International Opportunities Fund, International Small
Company Fund, MidCap Fund, MidCap Value Fund, Select MidCap Growth Fund,
Select MidCap Value Fund, Select SmallCap Growth Fund, Small Company
Fund, SmallCap Growth Fund, Stock Fund, Target Retirement 2030 Fund,
Value Fund, and Value Opportunities Fund will be declared and paid
annually; dividends from net investment income of Advisers Fund,
Balanced Allocation Fund, Conservative Allocation Fund, Dividend and
Growth Fund, Equity Income Fund, Target Retirement 2010 Fund and Target
Retirement 2020 Fund will be declared and paid quarterly; dividends from
the net investment income of Floating Rate Fund, High Yield Fund, Income
Allocation Fund, Income Fund, Inflation Plus Fund, Retirement Income
Fund, Short Duration Fund, Tax-Free California Fund, Tax-Free Minnesota
Fund, Tax-Free National Fund, Tax-Free New York Fund, Total Return Bond
Fund and 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. Long-term capital gains distributions
received from the underlying funds are distributed to shareholders at
least annually, when required. Unless shareholders specify otherwise,
all dividends and distributions will be automatically reinvested in
additional full or fractional shares of each Fund.
Distributions from net investment income, net realized capital gains and
capital are determined in accordance with federal income tax
regulations, which may differ from U.S. generally accepted accounting
principles with respect to character and timing. 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
2j(2)).
l) Illiquid and Restricted Securities -- Each Fund is permitted to invest
up to 15% of its net assets in illiquid securities, except for 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 within seven days, at approximately the
price used to determine a Fund's net asset value per share. A Fund may
not be able to sell illiquid securities or other investments when its
sub-advisor considers it desirable to do so or may have to sell such
securities or investments at a price that is lower than the price that
could be obtained if the securities or investments were more liquid. A
sale of illiquid securities or other investments may require more time
and may result in higher dealer discounts and other selling expenses
than does the sale of those that are liquid. Illiquid securities and
investments also may be more difficult to value, due to the
unavailability of reliable market quotations for such securities or
investments, and investments in them may have an adverse impact on net
asset value. Each Fund may also purchase certain restricted securities,
commonly known as Rule 144A securities, that can be resold to qualifying
institutions and which may be determined to be liquid pursuant to
policies and guidelines established by the Funds' Board of Directors.
m) Securities Purchased on a When-Issued and Delayed-Delivery
Basis -- Delivery and payment for securities that have been purchased by
the Funds on a forward commitment or when-issued or delayed-delivery
basis take place beyond the customary settlement period. During this
period, such securities are subject to market fluctuations and the Funds
identify securities as segregated in their records with value at least
equal to the amount of the commitment. As of October 31, 2005 the Funds
entered into outstanding when-issued or forward commitments as follows:
<Table>
<Caption>
FUND COST
---- -------
Advisers Fund............................................... $ 241
Floating Rate Fund.......................................... 24,360
Tax-Free California Fund.................................... 178
Tax-Free National Fund...................................... 812
Total Return Bond Fund...................................... 60,513
</Table>
n) Credit Risk -- Credit risk depends largely on the perceived financial
health of bond issuers. In general, lower rated bonds have higher credit
risks. High yield bond prices can fall on bad news about the economy, an
industry or a company. Share price, yield and total return may fluctuate
more than with less aggressive bond funds.
o) Senior Floating Rate Loan Interests -- Floating Rate Fund invests at
least 80% of its assets in below investment-grade variable or floating
rate loans and floating rate securities. The major factors affecting
this Fund's performance are credit, liquidity and interest rate risk.
Credit risk depends largely on the perceived financial health of the
borrowers and issuers of debt securities. In general, lower-rated loans
and bonds have higher credit risks. Loan prices and prices of debt
securities can fall on bad news about the economy, an industry or a
company. Share price, yield and total return may fluctuate more than
would be the case with less aggressive loan and bond funds. Because the
fund invests mainly in investments rated below-investment-grade, it is
subject to heightened credit risk. The Fund could lose money if the
fundamentals of an industry in which the Fund invests deteriorate or if
a borrower or issuer underperforms or defaults, or if any loan or debt
security that the Fund owns is downgraded. In addition, because the Fund
is non-diversified and therefore may take larger positions in individual
borrowers and issuers than other mutual funds, the Fund may experience
greater market fluctuation and price volatility than a Fund that
maintains a more broadly diversified portfolio.
p) Prepayment Risks -- Most Floating Rate Loans and certain debt securities
allow for prepayment of principal without penalty. Loans and securities
subject to prepayment risk generally offer less potential for gains when
interest rates decline, and may offer a greater potential for loss when
interest rates rise. In addition, with respect to securities, rising
interest rates may cause prepayments to occur at a slower than expected
rate, thereby effectively lengthening the maturity of the security and
making the security more sensitive to interest rate changes. Prepayment
risk is a major risk of mortgage-backed securities and certain
asset-backed securities. Accordingly, the potential for the value of a
Floating Rate
273
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
Loan or security to increase in response to interest rate declines is
limited. Loans or debt securities purchased to replace a prepaid loan or
debt security may have lower yields than the yield on the prepaid loan or
debt security.
q) Use of Estimates -- The preparation of financial statements in
conformity with U.S. generally accepted accounting principles 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.
3. EXPENSES:
a) Investment Management and Advisory Agreements -- 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, for the Hartford
Mutual Funds, Inc. and dated February 19, 2002, for Hartford Mutual
Funds II, Inc. 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 Advisers Fund, Capital Appreciation Fund, Capital
Appreciation II Fund, Disciplined Equity Fund, Dividend and Growth Fund,
Equity Income Fund, Focus Fund, Global Communications Fund, Global
Financial Services Fund, Global Health Fund, Global Leaders Fund, Global
Technology Fund, Growth Fund, Growth Opportunities Fund, International
Capital Appreciation Fund, International Opportunities Fund,
International Small Company Fund, MidCap Fund, MidCap Value Fund, Small
Company Fund, SmallCap Growth Fund, Stock Fund, Value Fund and Value
Opportunities Fund in accordance with each Fund's investment objective
and policies. In addition, HIFSCO has contracted with Hartford
Investment, a wholly owned subsidiary of The Hartford, for the provision
of day to day investment management services for Floating Rate Fund,
High Yield Fund, Income Fund, Inflation Plus Fund, Money Market Fund,
Retirement Income Fund, Short Duration Fund, Target Retirement 2010
Fund, Target Retirement 2020 Fund, Target Retirement 2030 Fund, Tax-Free
California Fund, Tax-Free Minnesota Fund, Tax-Free National Fund,
Tax-Free New York Fund, Total Return Bond Fund and U.S. Government
Securities Fund. HIFSCO has contracted for the provision of day to day
investment management services with Chartwell Investment Partners, L.P.
(Chartwell), Goldman Sachs Asset Management, L.P. (GSAM) and Northern
Capital Management, LLC (Northern Capital) for the Select MidCap Growth
Fund, with Artisan Partners Limited Partnership (Artisan), Cramer
Rosenthal McGlynn, LLC (CRM) and Sterling Capital Management LLC
(Sterling) for the Select MidCap Value Fund and with Jennison Associates
LLC (Jennison) and Oberweis Asset Management, Inc. (Oberweis) for the
Select SmallCap Growth Fund. Each Fund pays a fee to HIFSCO, a portion
of which may be used to compensate Artisan, Chartwell, CRM, GSAM,
Hartford Investment, Jennison, Oberweis, Northern Capital, Sterling and
Wellington.
The schedule below reflects the rates of compensation paid to HIFSCO for
investment advisory services rendered during the period ended October
31, 2005, except as indicated:
MONEY MARKET FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .50%
On next $500 million............................................... .45%
On next $4.0 billion............................................... .40%
On next $5.0 billion............................................... .38%
Over $10 billion................................................... .37%
</Table>
TAX-FREE NATIONAL FUND AND
U.S. GOVERNMENT SECURITIES FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $50 million............................................... .80%
On next $4.95 billion.............................................. .70%
On next $5.0 billion............................................... .68%
Over $10 billion................................................... .67%
</Table>
TOTAL RETURN BOND FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .65%
On next $500 million............................................... .55%
On next $4.0 billion............................................... .50%
On next $5.0 billion............................................... .48%
Over $10 billion................................................... .47%
</Table>
GLOBAL LEADERS FUND,
INTERNATIONAL OPPORTUNITIES FUND, MIDCAP FUND,
MIDCAP VALUE FUND AND SMALL COMPANY FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .85%
On next $500 million............................................... .75%
Over $1 billion.................................................... .70%
</Table>
274
- --------------------------------------------------------------------------------
TAX-FREE MINNESOTA FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $50 million............................................... .72%
On next $4.95 billion.............................................. .70%
On next $5.0 billion............................................... .68%
Over $10 billion................................................... .67%
</Table>
GROWTH FUND, GROWTH OPPORTUNITIES FUND,
SMALLCAP GROWTH FUND AND VALUE OPPORTUNITIES FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $100 million.............................................. 1.00%
On next $150 million............................................... .80%
Over $250 million.................................................. .70%
</Table>
DIVIDEND AND GROWTH FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .75%
On next $500 million............................................... .65%
Over $1 billion.................................................... .60%
</Table>
INTERNATIONAL CAPITAL APPRECIATION FUND AND
INTERNATIONAL SMALL COMPANY FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. 1.00%
On next $500 million............................................... .90%
Over $1 billion.................................................... .85%
</Table>
CAPITAL APPRECIATION FUND, DISCIPLINED EQUITY FUND,
EQUITY INCOME FUND(1), STOCK FUND(2) AND VALUE FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .80%
On next $500 million............................................... .70%
Over $1 billion.................................................... .65%
</Table>
1) Effective November 1, 2005, HIFSCO has agreed to waive 0.30% of the
management fee until October 31, 2006.
2) Effective November 1, 2005, HIFSCO has agreed to waive 0.05% of the
management fee until October 31, 2006.
FOCUS FUND(3), GLOBAL COMMUNICATIONS FUND(4),
GLOBAL FINANCIAL SERVICES FUND(4), GLOBAL HEALTH FUND,
GLOBAL TECHNOLOGY FUND AND SELECT MIDCAP VALUE FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.............................................. 1.00%
On next $500 million............................................... .95%
Over $1 billion.................................................... .90%
</Table>
3) Effective November 1, 2005, HIFSCO has agreed to waive 0.10% of the
management fee until October 31, 2006.
4) Effective September 1, 2005, HIFSCO has agreed to waive 0.45% of the
management fee. This policy may be discontinued at any time.
HIGH YIELD FUND(5)
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .75%
On next $500 million............................................... .65%
On next $4 billion................................................. .60%
On next $5 billion................................................. .58%
Over $10 billion................................................... .57%
</Table>
5) Effective November 1, 2005, HIFSCO has agreed to waive 0.15% of the
management fee until October 31, 2006.
ADVISERS FUND(6)
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
------------------------ ----------
On first $500 million.............................................. .690%
On next $500 million............................................... .625%
Over $1 billion.................................................... .575%
</Table>
6) Effective November 1, 2005, HIFSCO has agreed to reduce its management fee to
0.61% (in addition HIFSCO has agreed to waive a portion of its management fee
to 0.56% through October 31, 2006).
INCOME FUND AND INFLATION PLUS FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .60%
On next $4.5 billion............................................... .55%
On next $5.0 billion............................................... .53%
Over $10 billion................................................... .52%
</Table>
SHORT DURATION FUND, TAX-FREE CALIFORNIA FUND
AND TAX-FREE NEW YORK FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .55%
On next $4.5 billion............................................... .50%
On next $5.0 billion............................................... .48%
Over $10 billion................................................... .47%
</Table>
AGGRESSIVE GROWTH ALLOCATION FUND, BALANCED
ALLOCATION FUND, CONSERVATIVE ALLOCATION FUND,
GROWTH ALLOCATION FUND AND INCOME ALLOCATION FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .20%
Over $500 million.................................................. .15%
</Table>
SELECT MIDCAP GROWTH FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .90%
On next $500 million............................................... .85%
Over $1 billion.................................................... .80%
</Table>
275
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
CAPITAL APPRECIATION II FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $250 million.............................................. 1.00%
On next $250 million............................................... .95%
On next $500 million............................................... .90%
Over $1 billion.................................................... .85%
</Table>
FLOATING RATE FUND(7)
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .65%
On next $4.5 billion............................................... .60%
On next $5.0 billion............................................... .58%
Over $10 billion................................................... .57%
</Table>
7) Effective November 1, 2005, HIFSCO has agreed to waive the management fee
through April 29, 2006.
SELECT SMALLCAP GROWTH FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. 1.05%
On next $500 million............................................... 1.00%
Over $1 billion.................................................... .95%
</Table>
RETIREMENT INCOME FUND, TARGET RETIREMENT
2010 FUND, TARGET RETIREMENT 2020 FUND,
TARGET RETIREMENT 2030 FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .20%
Over $500 million.................................................. .15%
</Table>
b) Distribution and Service Plan for Class A, B, C, 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 and distribution of shares through broker-dealers, financing
distribution costs and maintaining financial books and records. For the
year ended October 31, 2005, the following revenues were received by
HIFSCO:
<Table>
<Caption>
FRONT-END LOAD CONTINGENT DEFERRED
SALES CHARGE SALES CHARGE
-------------- -------------------
HIFSCO...................................................... $76,806 $8,970
</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 Rule 12b-1 plan applicable
to Class A shares of the Funds provides for payment of a Rule 12b-1 fee
of up to 0.35%, however, the Board of Directors has currently authorized
12b-1 payments of only up to 0.25%. Up to 0.25% of the fee may be used
for shareholder servicing expenses with the remainder used for
distribution expenses. Some or the entire Rule 12b-1 fee for Class B
shares may be remitted to broker-dealers for distribution and/or
shareholder account services. Under the Class B Plan, the Fund pays the
Distributor 1.00% of the average daily net assets of Class B shares that
are outstanding for 8 years or less, 0.25% of which is a fee for 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. 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.
For the period ended October 31, 2005, total sales commissions paid to
affiliated brokers/dealers of The Hartford for distributing the Funds'
shares were $4,402. These commissions are in turn paid to sales
representatives of the broker/dealers.
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. During
the period ended October 31, 2005, HIFSCO has voluntarily limited 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 as
follows:
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS H CLASS L CLASS M CLASS N CLASS Y
---- ------- ------- ------- ------- ------- ------- ------- -------
Advisers Fund............... 1.26% NA NA NA NA NA NA NA
Aggressive Growth Allocation
Fund*..................... 1.65% 2.30% 2.30% NA NA NA NA NA
Balanced Allocation Fund*... 1.45% 2.15% 2.15% NA NA NA NA NA
Capital Appreciation Fund... 1.29% NA NA NA NA NA NA NA
Capital Appreciation II
Fund...................... 1.60% 2.35% 2.35% NA NA NA NA 1.15%
Conservative Allocation
Fund*..................... 1.40% 2.05% 2.05% NA NA NA NA NA
Disciplined Equity Fund..... 1.40% 2.15% 2.15% NA NA NA NA 1.00%
Dividend and Growth Fund.... 1.25% NA NA NA NA NA NA NA
Equity Income Fund.......... 0.51% NA NA NA NA NA NA NA
Focus Fund.................. 1.60% 2.35% 2.35% NA NA NA NA 1.20%
Global Communications
Fund...................... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
Global Financial Services
Fund...................... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
Global Health Fund.......... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
Global Leaders Fund......... 1.48% 2.35% 2.35% NA NA NA NA 1.20%
Global Technology Fund...... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
</Table>
276
- --------------------------------------------------------------------------------
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS H CLASS L CLASS M CLASS N CLASS Y
---- ------- ------- ------- ------- ------- ------- ------- -------
Growth Allocation Fund*..... 1.55% 2.20% 2.20% NA NA NA NA NA
Growth Fund................. 1.33% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.00%
Growth Opportunities Fund... 1.36% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.00%
High Yield Fund............. 1.35% 2.10% 2.10% NA NA NA NA 0.95%
Income Allocation Fund*..... 1.25% 1.95% 1.95% NA NA NA NA NA
Income Fund................. 0.95% 1.70% 1.70% NA NA NA NA 0.70%
Inflation Plus Fund......... 0.95% 1.70% 1.70% NA NA NA NA 0.70%
International Capital
Appreciation Fund......... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
International Opportunities
Fund...................... 1.57% 2.35% 2.35% NA NA NA NA 1.20%
International Small Company
Fund...................... 1.60% 2.35% 2.35% NA NA NA NA 1.20%
MidCap Fund................. 1.37% NA NA NA NA NA NA NA
MidCap Value Fund........... 1.40% 2.15% 2.15% NA NA NA NA 1.00%
Money Market Fund........... 0.95% 1.70% 1.70% NA NA NA NA 0.55%
Retirement Income Fund*..... 1.25% 2.00% 2.00% NA NA NA NA 0.95%
Select MidCap Growth Fund... 1.50% 2.25% 2.25% NA NA NA NA 1.10%
Select MidCap Value Fund.... 1.55% 2.30% 2.30% NA NA NA NA 1.15%
Select SmallCap Growth
Fund...................... 1.65% 2.40% 2.40% NA NA NA NA 1.20%
Short Duration Fund......... 0.90% 1.65% 1.65% NA NA NA NA 0.65%
SmallCap Growth Fund........ 1.40% 2.15% 2.15% 2.15% 1.25% 2.15% 2.15% 1.10%
Small Company Fund.......... 1.40% 2.15% 2.15% NA NA NA NA 1.00%
Stock Fund.................. 1.33% NA NA NA NA NA NA NA
Target Retirement 2010
Fund*..................... 1.30% 2.05% 2.05% NA NA NA NA 1.00%
Target Retirement 2020
Fund*..................... 1.35% 2.10% 2.10% NA NA NA NA 1.05%
Target Retirement 2030
Fund*..................... 1.40% 2.15% 2.15% NA NA NA NA 1.10%
Tax-Free California Fund.... 0.90% 1.65% 1.65% NA NA NA NA NA
Tax-Free Minnesota Fund..... 0.85% 1.60% 1.60% 1.60% 0.90% 1.60% 1.60% NA
Tax-Free National Fund...... 1.00% 1.75% 1.75% 1.75% 1.05% 1.75% 1.75% NA
Tax-Free New York Fund...... 0.85% 1.60% 1.60% NA NA NA NA NA
Total Return Bond Fund...... 1.20% 1.95% 1.95% NA NA NA NA 0.80%
U.S. Government Securities
Fund...................... 1.15% 1.90% 1.90% 1.90% 1.20% 1.90% 1.90% NA
Value Fund.................. 1.40% 2.15% 2.15% NA NA NA NA 1.00%
Value Opportunities Fund.... 1.40% 2.15% 2.15% 2.15% 1.45% 2.15% 2.15% 1.25%
</Table>
* Voluntary limitations for total operating expenses for Aggressive
Growth Allocation Fund, Balanced Allocation Fund, Conservative
Allocation Fund, Growth Allocation Fund, Income Allocation Fund,
Retirement Income Fund, Target Retirement 2010 Fund, Target Retirement
2020 Fund and Target Retirement 2030 Fund include expenses incurred as
the result of investing in other investment companies.
HIFSCO has voluntarily agreed to waive management fees for some of the
Funds as follows:
<Table>
<Caption>
FUND PERIOD AMOUNT
---- ------------------------------------------ ------
Advisers Fund............................................... May 1, 2005 through October 31, 2005 $ 349
Equity Income Fund.......................................... October 31, 2004 through October 31, 2005 3,118
Floating Rate Fund.......................................... April 29, 2005 through October 31, 2005 335
Global Communications Fund.................................. September 1, 2005 through October 31, 2005 16
Global Financial Services Fund.............................. September 1, 2005 through October 31, 2005 15
</Table>
Effective September 1, 2005 and November 1, 2005, HIFSCO has voluntarily
agreed to limit the total operating expenses of the Class A, B, C and Y
shares of some of the Funds, exclusive of taxes, interest, brokerage
commissions, certain distribution expenses and extraordinary expenses as
follows:
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS Y
---- ------- ------- ------- -------
Advisers Fund (Effective November 1, 2005).................. 1.18% NA NA NA
Equity Income Fund (Effective November 1, 2005)............. 1.05% NA NA NA
Focus Fund (Effective November 1, 2005)..................... 1.50% 2.25% 2.25% 1.10%
Global Communications Fund (Effective September 1, 2005).... 1.15% 1.90% 1.90% 0.75%
Global Financial Services Fund (Effective September 1,
2005)..................................................... 1.15% 1.90% 1.90% 0.75%
High Yield Fund (Effective November 1, 2005)................ 1.20% 1.95% 1.95% 0.80%
Stock Fund (Effective November 1, 2005)..................... 1.28% NA NA NA
</Table>
For Advisers Fund, Equity Income Fund and Stock Fund, Class A waivers
are in effect through 10/31/06. For Focus Fund, Global Communications
Fund, Global Financial Services Fund and High Yield Fund, Class A, B and
C waivers are in effect through 10/31/06.
Effective November 1, 2005, Hartford Administrative Services Company
(HASCO) has agreed to waive a portion of the transfer agency fees of the
funds under, a voluntary undertaking, to 0.35% of average daily net
assets per fiscal year for all A, B and C share classes.
Amounts incurred which exceed the above limits, are deducted from
expenses and are reported as expense reimbursements or waivers on the
accompanying Statements of Operations.
277
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
Due to a change in the transfer agent fees allocation methodology for
transfer agent fees, HIFSCO reimbursed the following Funds for transfer
agent expenses in 2004 for years 2002 and 2003; Advisers Fund,
Disciplined Equity Fund, Dividend and Growth Fund, Focus Fund, High
Yield Fund and Total Return Bond Fund. The amounts reimbursed were:
$4,979, $3, $1,109, $34, $82 and $243, respectively, which represents
.2%, .001%, .05%, .03%, .02% and .04% of average total net assets of
each respective Fund.
d) Fees Paid Indirectly -- The Funds have entered into an agreement with
State Street Global Advisors and Russell Investment Group to partially
recapture non-discounted trade commissions. Such rebates are used to pay
a portion of the Funds' expenses. In addition, the Funds' custodian bank
has agreed to reduce its fees when the Funds maintain cash on deposit in
the non-interest-bearing custody account. For the year ended October 31,
2005, commission recapture and custodian fee offset arrangements are as
follows:
<Table>
<Caption>
COMMISSION RECAPTURE CUSTODIAN FEE OFFSET
-------------------- --------------------
Advisers Fund............................................... $ 260 $ 4
Aggressive Growth Allocation Fund........................... -- @@
Balanced Allocation Fund.................................... -- @@
Capital Appreciation Fund................................... 3,125 12
Capital Appreciation II Fund................................ @@ @@
Conservative Allocation Fund................................ -- @@
Disciplined Equity Fund..................................... 54 @@
Dividend and Growth Fund.................................... 250 1
Equity Income Fund.......................................... 24 1
Focus Fund.................................................. 28 @@
Global Communications Fund.................................. 3 @@
Global Financial Services Fund.............................. 5 @@
Global Health Fund.......................................... 80 1
Global Leaders Fund......................................... 850 1
Global Technology Fund...................................... 35 1
Growth Allocation Fund...................................... -- @@
Growth Fund................................................. 186 1
Growth Opportunities Fund................................... 510 9
High Yield Fund............................................. -- 10
Income Allocation Fund...................................... -- @@
Income Fund................................................. -- 2
Inflation Plus Fund......................................... -- 2
International Capital Appreciation Fund..................... 138 1
International Opportunities Fund............................ 66 @@
International Small Company Fund............................ 53 1
MidCap Fund................................................. 625 1
MidCap Value Fund........................................... 80 3
Money Market Fund........................................... -- 1
Select MidCap Growth Fund................................... -- 1
Select MidCap Value Fund.................................... -- 2
Short Duration Fund......................................... -- 3
Small Company Fund.......................................... 133 2
SmallCap Growth Fund........................................ 43 1
Stock Fund.................................................. 245 1
Tax-Free California Fund.................................... -- 3
Tax-Free Minnesota Fund..................................... -- 2
Tax-Free National Fund...................................... -- 1
Tax-Free New York Fund...................................... -- 2
Total Return Bond Fund...................................... -- 11
U.S. Government Securities Fund............................. -- 3
Value Fund.................................................. 12 @@
Value Opportunities Fund.................................... 13 @@
</Table>
@@ Due to the presentation of the financial statements in thousands, the
numbers round to zero.
e) Accounting Services Agreement -- Pursuant to the Fund Accounting
Agreement between Hartford Life Insurance Co. (HLIC) and the Funds, HLIC
provides accounting services to the Funds and receives monthly
compensation at the annual rate of 0.02% of each Fund's Class A, B, C
and Y average daily net assets. Effective January 1, 2006, the rate is
reduced to 0.015%, except for Aggressive Allocation Fund, Balanced
Allocation Fund, Conservative Allocation Fund, Growth Allocation Fund,
Income Allocation Fund, Retirement Income Fund, Target Retirement 2010
Fund, Target Retirement 2020 Fund and Target Retirement 2030 Fund which
pay a fee of 0.01% of each Fund's Class A, B and C average daily net
assets.
f) Other Related Party Transactions -- For the year ended October 31, 2005,
Hartford Fire was reimbursed $240 for legal expenses on behalf of the
Funds. Certain officers of the Funds are directors and/or officers of
HIFSCO, Hartford Investment and/or The Hartford or its subsidiaries. No
officer of the Funds receives any compensation directly from the Funds.
HASCO, a wholly owned subsidiary of The Hartford, provides transfer
agent services to the Funds. HASCO was compensated $59,205 for providing
such services.
278
- --------------------------------------------------------------------------------
4. AFFILIATE HOLDINGS:
As of October 31, 2005, affiliates of The Hartford had ownership of shares
in the Funds as follows:
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS Y
---- ------- ------- ------- -------
Capital Appreciation II Fund................................ 910 30 30 30
Global Communications Fund.................................. 706 -- -- --
Global Financial Services Fund.............................. 570 -- -- --
Income Fund................................................. 484 -- -- 1
Retirement Income Fund...................................... 1 1 1 1
Select MidCap Growth Fund................................... 540 20 20 20
Select MidCap Value Fund.................................... 1,350 50 50 50
Select SmallCap Growth Fund................................. 540 20 20 20
Target Retirement 2010 Fund................................. 1 1 1 1
Target Retirement 2020 Fund................................. 1 1 1 1
Target Retirement 2030 Fund................................. 1 1 1 1
Tax-Free California Fund.................................... 789 -- -- NA
Tax-Free Minnesota Fund..................................... -- -- -- 1
Tax-Free National Fund...................................... -- -- -- 1
Tax-Free New York Fund...................................... 899 110 110 NA
U.S. Government Securities Fund............................. -- -- -- @@
</Table>
@@ Due to the presentation of the financial statements in thousands, the
number of shares held round to zero.
NA Not applicable
5. INVESTMENT TRANSACTIONS:
For the year ended October 31, 2005, the cost of purchases and proceeds from
sales of securities for Money Market Fund were $2,614,693 and $2,655,394,
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
PURCHASES SALES PROCEEDS COST OF SALES PROCEEDS
EXCLUDING EXCLUDING PURCHASES FOR FOR
U.S. GOVERNMENT U.S. GOVERNMENT U.S. GOVERNMENT U.S. GOVERNMENT
FUND OBLIGATIONS OBLIGATIONS OBLIGATIONS OBLIGATIONS
---- --------------- --------------- --------------- ---------------
Advisers Fund...................................... $1,428,667 $2,040,321 $ 30,951 $ 85,607
Aggressive Growth Allocation Fund.................. 88,761 6,121 -- --
Balanced Allocation Fund........................... 312,552 4,711 -- --
Capital Appreciation Fund.......................... 9,002,334 7,654,526 -- --
Capital Appreciation II Fund....................... 98,814 22,342 -- --
Conservative Allocation Fund....................... 81,553 19,919 -- --
Disciplined Equity Fund............................ 222,161 229,600 -- --
Dividend and Growth Fund........................... 817,434 701,044 -- --
Equity Income Fund................................. 261,268 88,128 -- --
Floating Rate Fund................................. 283,692 19,212 -- --
Focus Fund......................................... 106,854 144,094 -- --
Global Communications Fund......................... 13,588 7,264 -- --
Global Financial Services Fund..................... 6,518 7,870 -- --
Global Health Fund................................. 351,776 194,070 -- --
Global Leaders Fund................................ 1,877,794 1,933,838 -- --
Global Technology Fund............................. 72,029 86,319 -- --
Growth Allocation Fund............................. 280,197 2,427 -- --
Growth Fund........................................ 1,027,374 778,781 -- --
Growth Opportunities Fund.......................... 1,318,639 1,227,352 -- --
High Yield Fund.................................... 396,348 454,676 -- --
Income Allocation Fund............................. 23,716 7,497 -- --
Income Fund........................................ 42,959 28,769 64,404 60,662
Inflation Plus Fund................................ 102,235 69,057 718,539 553,300
International Capital Appreciation Fund............ 493,165 342,529 -- --
International Opportunities Fund................... 162,872 172,630 -- --
International Small Company Fund................... 135,421 116,587 -- --
MidCap Fund........................................ 1,973,607 2,237,716 -- --
MidCap Value Fund.................................. 214,037 227,904 -- --
Retirement Income Fund............................. 79 44 -- --
Select MidCap Growth Fund.......................... 30,748 12,658 -- --
</Table>
279
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
COST OF
PURCHASES SALES PROCEEDS COST OF SALES PROCEEDS
EXCLUDING EXCLUDING PURCHASES FOR FOR
U.S. GOVERNMENT U.S. GOVERNMENT U.S. GOVERNMENT U.S. GOVERNMENT
FUND OBLIGATIONS OBLIGATIONS OBLIGATIONS OBLIGATIONS
---- --------------- --------------- --------------- ---------------
Select MidCap Value Fund........................... $ 30,600 $ 6,101 $ -- $ --
Select SmallCap Growth Fund........................ 6,068 226 -- --
Short Duration Fund................................ 187,013 156,519 -- 3,973
Small Company Fund................................. 305,390 343,824 -- --
SmallCap Growth Fund............................... 255,610 215,440 -- --
Stock Fund......................................... 920,576 1,382,015 -- --
Target Retirement 2010............................. 43 5 -- --
Target Retirement 2020............................. 160 29 -- --
Target Retirement 2030............................. 41 5 -- --
Tax-Free California Fund........................... 7,538 5,253 -- --
Tax-Free Minnesota Fund............................ 6,127 3,402 -- --
Tax-Free National Fund............................. 30,919 19,909 -- --
Tax-Free New York Fund............................. 4,872 3,225 -- --
Total Return Bond Fund............................. 1,338,128 1,238,245 338,214 350,803
U.S. Government Securities Fund.................... 140,793 128,894 125,733 155,921
Value Fund......................................... 68,597 36,373 -- --
Value Opportunities Fund........................... 193,112 60,694 -- --
</Table>
6. CAPITAL SHARE TRANSACTIONS:
The following information is for the period ended October 31, 2005 and
period ended October 31, 2004:
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
ADVISERS FUND:
Class A Shares...... 6,088 20,004 1,779 1,278 (33,823) (19,236) (25,956) 2,046
Amount....... $ 91,820 $ 292,883 $26,792 $18,724 $(511,587) $(282,489) $ (392,975) $ 29,118
Class B Shares...... 1,086 3,173 378 188 (10,823) (7,436) (9,359) (4,075)
Amount....... $ 16,184 $ 46,199 $ 5,650 $ 2,706 $(161,821) $(108,019) $ (139,987) $ (59,114)
Class C Shares...... 564 2,841 236 143 (8,691) (8,299) (7,891) (5,315)
Amount....... $ 8,492 $ 41,859 $ 3,550 $ 2,099 $(130,715) $(121,827) $ (118,673) $ (77,869)
Class Y Shares...... 126 327 23 14 (82) (24) 67 317
Amount....... $ 1,907 $ 4,863 $ 344 $ 205 $ (1,239) $ (360) $ 1,012 $ 4,708
AGGRESSIVE GROWTH
ALLOCATION FUND:
Class A Shares...... 4,667 1,274 3 -- (798) (78) 3,872 1,196
Amount....... $ 52,239 $ 12,730 $ 34 $ -- $ (9,056) $ (768) $ 43,217 $ 11,962
Class B Shares...... 1,490 446 @@ -- (156) (8) 1,334 438
Amount....... $ 16,492 $ 4,429 $ 1 $ -- $ (1,761) $ (79) $ 14,732 $ 4,350
Class C Shares...... 3,009 544 @@ -- (655) (20) 2,354 524
Amount....... $ 33,325 $ 5,433 $ 2 $ -- $ (7,537) $ (201) $ 25,790 $ 5,232
BALANCED ALLOCATION
FUND:
Class A Shares...... 19,911 6,617 164 7 (2,593) (91) 17,482 6,533
Amount....... $ 214,294 $ 66,507 $ 1,783 $ 67 $ (28,312) $ (919) $ 187,765 $ 65,655
Class B Shares...... 5,297 1,863 15 @@ (496) (30) 4,816 1,833
Amount....... $ 56,712 $ 18,687 $ 166 $ 2 $ (5,352) $ (297) $ 51,526 $ 18,392
Class C Shares...... 7,706 2,970 20 @@ (1,230) (11) 6,496 2,959
Amount....... $ 82,665 $ 29,758 $ 215 $ 3 $ (13,269) $ (108) $ 69,611 $ 29,653
CAPITAL APPRECIATION
FUND:
Class A Shares...... 52,233 61,773 -- -- (22,397) (14,265) 29,836 47,508
Amount....... $1,777,216 $1,817,501 $ -- $ -- $(767,171) $(420,206) $1,010,045 $1,397,295
Class B Shares...... 6,556 9,317 -- -- (8,132) (5,272) (1,576) 4,045
Amount....... $ 207,239 $ 257,989 $ -- $ -- $(261,148) $(145,779) $ (53,909) $ 112,210
Class C Shares...... 14,201 14,150 -- -- (6,955) (6,677) 7,246 7,473
Amount....... $ 452,151 $ 392,093 $ -- $ -- $(221,286) $(184,938) $ 230,865 $ 207,155
Class Y Shares...... 3,153 1,987 -- -- (388) (129) 2,765 1,858
Amount....... $ 111,884 $ 61,273 $ -- $ -- $ (14,238) $ (3,995) $ 97,646 $ 57,278
</Table>
280
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
CAPITAL APPRECIATION
II FUND:
Class A Shares...... 5,323 -- -- -- (176) -- 5,147 --
Amount....... $ 57,024 $ -- $ -- $ -- $ (1,941) $ -- $ 55,083 $ --
Class B Shares...... 589 -- -- -- (14) -- 575 --
Amount....... $ 6,345 $ -- $ -- $ -- $ (155) $ -- $ 6,190 $ --
Class C Shares...... 1,792 -- -- -- (26) -- 1,766 --
Amount....... $ 19,422 $ -- $ -- $ -- $ (281) $ -- $ 19,141 $ --
Class Y Shares...... 30 -- -- -- -- -- 30 --
Amount....... $ 300 $ -- $ -- $ -- $ -- $ -- $ 300 $ --
CONSERVATIVE
ALLOCATION FUND:
Class A Shares...... 5,061 3,314 73 3 (1,765) (14) 3,369 3,303
Amount....... $ 53,341 $ 33,400 $ 776 $ 32 $ (18,790) $ (139) $ 35,327 $ 33,293
Class B Shares...... 1,057 495 10 @@ (179) (8) 888 487
Amount....... $ 11,098 $ 4,983 $ 109 $ 3 $ (1,887) $ (85) $ 9,320 $ 4,901
Class C Shares...... 3,289 1,065 21 1 (1,764) (13) 1,546 1,053
Amount....... $ 34,653 $ 10,700 $ 217 $ 6 $ (18,469) $ (131) $ 16,401 $ 10,575
DISCIPLINED EQUITY
FUND:
Class A Shares...... 1,341 3,357 153 14 (6,267) (4,978) (4,773) (1,607)
Amount....... $ 15,365 $ 35,514 $ 1,755 $ 149 $ (72,432) $ (52,961) $ (55,312) $ (17,298)
Class B Shares...... 238 432 2 -- (1,069) (1,001) (829) (569)
Amount....... $ 2,623 $ 4,431 $ 23 $ -- $ (11,782) $ (10,232) $ (9,136) $ (5,801)
Class C Shares...... 145 337 4 -- (1,167) (1,083) (1,018) (746)
Amount....... $ 1,606 $ 3,454 $ 39 $ -- $ (12,840) $ (11,091) $ (11,195) $ (7,637)
Class Y Shares...... 4,983 1,728 29 @@ (65) (6) 4,947 1,722
Amount....... $ 59,052 $ 18,721 $ 346 $ 3 $ (775) $ (70) $ 58,623 $ 18,654
DIVIDEND AND GROWTH
FUND:
Class A Shares...... 20,127 32,461 2,427 795 (15,420) (11,304) 7,134 21,952
Amount....... $ 377,916 $ 551,797 $45,020 $13,732 $(291,171) $(194,553) $ 131,765 $ 370,976
Class B Shares...... 3,042 3,907 268 19 (3,265) (2,102) 45 1,824
Amount....... $ 56,232 $ 66,363 $ 4,853 $ 335 $ (60,699) $ (35,752) $ 386 $ 30,946
Class C Shares...... 2,119 4,149 245 33 (3,265) (2,999) (901) 1,183
Amount....... $ 39,143 $ 70,299 $ 4,444 $ 559 $ (60,506) $ (50,934) $ (16,919) $ 19,924
Class Y Shares...... 2,396 1,986 120 42 (413) (797) 2,103 1,231
Amount....... $ 45,265 $ 34,545 $ 2,257 $ 724 $ (7,961) $ (13,917) $ 39,561 $ 21,352
EQUITY INCOME FUND:
Class A Shares...... 15,486 17,305 589 227 (3,468) (1,317) 12,607 16,215
Amount....... $ 185,634 $ 189,949 $ 7,058 $ 2,502 $ (41,777) $ (14,509) $ 150,915 $ 177,942
Class B Shares...... 1,443 1,484 32 11 (296) (91) 1,179 1,404
Amount....... $ 17,256 $ 16,339 $ 380 $ 123 $ (3,561) $ (1,005) $ 14,075 $ 15,457
Class C Shares...... 1,095 3,357 61 29 (641) (214) 515 3,172
Amount....... $ 13,124 $ 36,979 $ 735 $ 318 $ (7,689) $ (2,351) $ 6,170 $ 34,946
Class Y Shares...... 47 23 2 @@ (17) @@ 32 23
Amount....... $ 574 $ 249 $ 17 $ 4 $ (205) $ @@ $ 386 $ 253
FLOATING RATE FUND:
Class A Shares...... 19,092 -- 132 -- (2,428) -- 16,796 --
Amount....... $ 192,854 $ -- $ 1,335 $ -- $ (24,613) $ -- $ 169,576 $ --
Class B Shares...... 595 -- 3 -- (37) -- 561 --
Amount....... $ 5,996 $ -- $ 32 $ -- $ (372) $ -- $ 5,656 $ --
Class C Shares...... 9,381 -- 53 -- (239) -- 9,195 --
Amount....... $ 94,747 $ -- $ 530 $ -- $ (2,420) $ -- $ 92,857 $ --
Class Y Shares...... 1,056 -- 16 -- (74) -- 998 --
Amount....... $ 10,662 $ -- $ 158 $ -- $ (752) $ -- $ 10,068 $ --
</Table>
281
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
FOCUS FUND:
Class A Shares...... 314 1,439 3 -- (2,792) (1,915) (2,475) (476)
Amount....... $ 3,040 $ 13,552 $ 29 $ -- $ (27,191) $ (17,884) $ (24,122) $ (4,332)
Class B Shares...... 64 189 -- -- (627) (497) (563) (308)
Amount....... $ 612 $ 1,743 $ -- $ -- $ (5,951) $ (4,566) $ (5,339) $ (2,823)
Class C Shares...... 104 429 -- -- (1,100) (842) (996) (413)
Amount....... $ 981 $ 3,941 $ -- $ -- $ (10,427) $ (7,684) $ (9,446) $ (3,743)
Class Y Shares...... 28 48 @@ -- (71) (40) (43) 8
Amount....... $ 283 $ 463 $ 3 $ -- $ (705) $ (373) $ (419) $ 90
GLOBAL
COMMUNICATIONS FUND:
Class A Shares...... 1,099 606 14 -- (496) (352) 617 254
Amount....... $ 7,313 $ 3,173 $ 89 $ -- $ (3,216) $ (1,854) $ 4,186 $ 1,319
Class B Shares...... 212 113 1 -- (84) (175) 129 (62)
Amount....... $ 1,361 $ 583 $ 5 $ -- $ (522) $ (837) $ 844 $ (254)
Class C Shares...... 223 118 1 -- (69) (158) 155 (40)
Amount....... $ 1,450 $ 612 $ 4 $ -- $ (442) $ (752) $ 1,012 $ (140)
Class Y Shares...... 62 31 @@ -- (4) (154) 58 (123)
Amount....... $ 410 $ 167 $ 2 $ -- $ (26) $ (740) $ 386 $ (573)
GLOBAL FINANCIAL
SERVICES FUND:
Class A Shares...... 143 232 14 11 (191) (310) (34) (67)
Amount....... $ 1,582 $ 2,389 $ 156 $ 110 $ (2,107) $ (3,179) $ (369) $ (680)
Class B Shares...... 25 48 1 1 (47) (137) (21) (88)
Amount....... $ 271 $ 489 $ 16 $ 7 $ (510) $ (1,318) $ (223) $ (822)
Class C Shares...... 66 61 1 @@ (64) (157) 3 (96)
Amount....... $ 741 $ 615 $ 12 $ 6 $ (705) $ (1,508) $ 48 $ (887)
Class Y Shares...... 7 3 1 1 (3) (104) 5 (100)
Amount....... $ 74 $ 32 $ 10 $ 7 $ (28) $ (1,007) $ 56 $ (968)
GLOBAL HEALTH FUND:
Class A Shares...... 3,495 4,099 567 43 (2,723) (1,943) 1,339 2,199
Amount....... $ 55,087 $ 61,055 $ 8,478 $ 579 $ (42,260) $ (28,878) $ 21,305 $ 32,756
Class B Shares...... 445 873 225 19 (718) (536) (48) 356
Amount....... $ 6,670 $ 12,705 $ 3,252 $ 252 $ (10,730) $ (7,775) $ (808) $ 5,182
Class C Shares...... 1,038 1,130 210 17 (891) (756) 357 391
Amount....... $ 15,731 $ 16,402 $ 3,033 $ 230 $ (13,305) $ (10,920) $ 5,459 $ 5,712
Class Y Shares...... 9,894 20 4 @@ (31) (14) 9,867 6
Amount....... $ 153,166 $ 300 $ 64 $ 5 $ (503) $ (205) $ 152,727 $ 100
GLOBAL LEADERS FUND:
Class A Shares...... 3,691 8,714 -- -- (6,969) (13,745) (3,278) (5,031)
Amount....... $ 62,349 $ 134,534 $ -- $ -- $(117,555) $(214,196) $ (55,206) $ (79,662)
Class B Shares...... 575 856 -- -- (1,334) (1,008) (759) (152)
Amount....... $ 9,270 $ 12,890 $ -- $ -- $ (21,331) $ (15,171) $ (12,061) $ (2,281)
Class C Shares...... 479 963 -- -- (1,531) (1,244) (1,052) (281)
Amount....... $ 7,767 $ 14,553 $ -- $ -- $ (24,598) $ (18,640) $ (16,831) $ (4,087)
Class Y Shares...... 1,488 2,238 -- -- (131) (119) 1,357 2,119
Amount....... $ 25,736 $ 35,831 $ -- $ -- $ (2,334) $ (1,968) $ 23,402 $ 33,863
GLOBAL TECHNOLOGY
FUND:
Class A Shares...... 1,097 3,193 -- -- (2,639) (3,006) (1,542) 187
Amount....... $ 5,180 $ 15,225 $ -- $ -- $ (12,398) $ (14,082) $ (7,218) $ 1,143
Class B Shares...... 231 626 -- -- (662) (660) (431) (34)
Amount....... $ 1,044 $ 2,862 $ -- $ -- $ (2,969) $ (2,947) $ (1,925) $ (85)
Class C Shares...... 170 794 -- -- (1,171) (1,166) (1,001) (372)
Amount....... $ 775 $ 3,684 $ -- $ -- $ (5,258) $ (5,137) $ (4,483) $ (1,453)
Class Y Shares...... 189 246 -- -- (268) (169) (79) 77
Amount....... $ 950 $ 1,197 $ -- $ -- $ (1,319) $ (776) $ (369) $ 421
</Table>
282
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
GROWTH ALLOCATION
FUND:
Class A Shares...... 15,579 4,214 19 -- (1,553) (37) 14,045 4,177
Amount....... $ 170,874 $ 42,297 $ 215 $ -- $ (17,312) $ (376) $ 153,777 $ 41,921
Class B Shares...... 4,860 1,381 3 -- (359) (9) 4,504 1,372
Amount....... $ 53,037 $ 13,837 $ 32 $ -- $ (3,962) $ (92) $ 49,107 $ 13,745
Class C Shares...... 7,489 2,071 4 -- (576) (18) 6,917 2,053
Amount....... $ 81,830 $ 20,769 $ 44 $ -- $ (6,397) $ (174) $ 75,477 $ 20,595
GROWTH FUND:
Class A Shares...... 20,706 21,155 -- -- (7,771) (2,175) 12,935 18,980
Amount....... $ 348,182 $ 338,377 $ -- $ -- $(132,108) $ (34,755) $ 216,074 $ 303,622
Class B Shares...... 1,206 1,608 -- -- (437) (213) 769 1,395
Amount....... $ 18,149 $ 23,159 $ -- $ -- $ (6,602) $ (3,051) $ 11,547 $ 20,108
Class C Shares...... 2,865 2,743 -- -- (791) (331) 2,074 2,412
Amount....... $ 43,293 $ 39,544 $ -- $ -- $ (11,969) $ (4,703) $ 31,324 $ 34,841
Class H Shares...... 74 97 -- -- (408) (451) (334) (354)
Amount....... $ 1,121 $ 1,409 $ -- $ -- $ (6,197) $ (6,542) $ (5,076) $ (5,133)
Class L Shares...... 581 720 -- -- (2,689) (2,456) (2,108) (1,736)
Amount....... $ 9,889 $ 11,614 $ -- $ -- $ (46,057) $ (39,495) $ (36,168) $ (27,881)
Class M Shares...... 95 122 -- -- (338) (359) (243) (237)
Amount....... $ 1,425 $ 1,761 $ -- $ -- $ (5,116) $ (5,186) $ (3,691) $ (3,425)
Class N Shares...... 18 23 -- -- (35) (52) (17) (29)
Amount....... $ 278 $ 330 $ -- $ -- $ (537) $ (742) $ (259) $ (412)
Class Y Shares...... 2,286 727 -- -- (10) @@ 2,276 727
Amount....... $ 39,040 $ 11,615 $ -- $ -- $ (165) $ (20) $ 38,875 $ 11,595
GROWTH OPPORTUNITIES
FUND:
Class A Shares...... 6,721 1,836 -- -- (1,049) (317) 5,672 1,519
Amount....... $ 176,120 $ 41,525 $ -- $ -- $ (27,544) $ (7,148) $ 148,576 $ 34,377
Class B Shares...... 364 390 -- -- (100) (71) 264 319
Amount....... $ 8,252 $ 7,860 $ -- $ -- $ (2,265) $ (1,431) $ 5,987 $ 6,429
Class C Shares...... 334 432 -- -- (136) (136) 198 296
Amount....... $ 7,639 $ 8,695 $ -- $ -- $ (3,068) $ (2,722) $ 4,571 $ 5,973
Class H Shares...... 108 149 -- -- (467) (646) (359) (497)
Amount....... $ 2,437 $ 3,027 $ -- $ -- $ (10,587) $ (13,128) $ (8,150) $ (10,101)
Class L Shares...... 652 905 -- -- (2,748) (3,294) (2,096) (2,389)
Amount....... $ 16,784 $ 20,802 $ -- $ -- $ (71,235) $ (75,949) $ (54,451) $ (55,147)
Class M Shares...... 73 95 -- -- (241) (306) (168) (211)
Amount....... $ 1,651 $ 1,932 $ -- $ -- $ (5,462) $ (6,182) $ (3,811) $ (4,250)
Class N Shares...... 13 19 -- -- (35) (34) (22) (15)
Amount....... $ 293 $ 401 $ -- $ -- $ (813) $ (693) $ (520) $ (292)
Class Y Shares...... 853 201 -- -- (52) @@ 801 201
Amount....... $ 22,960 $ 4,591 $ -- $ -- $ (1,482) $ (2) $ 21,478 $ 4,589
Class Z Shares...... 17 29 -- -- (203) (148) (186) (119)
Amount....... $ 453 $ 700 $ -- $ -- $ (5,358) $ (3,494) $ (4,905) $ (2,794)
HIGH YIELD FUND:
Class A Shares...... 8,904 15,138 1,444 1,445 (16,278) (13,206) (5,930) 3,377
Amount....... $ 71,605 $ 121,323 $11,564 $11,602 $(130,949) $(105,905) $ (47,780) $ 27,020
Class B Shares...... 758 1,635 270 304 (2,782) (3,225) (1,754) (1,286)
Amount....... $ 6,099 $ 13,122 $ 2,160 $ 2,440 $ (22,326) $ (25,767) $ (14,067) $ (10,205)
Class C Shares...... 1,539 2,699 274 301 (4,009) (4,067) (2,196) (1,067)
Amount....... $ 12,358 $ 21,604 $ 2,194 $ 2,409 $ (32,194) $ (32,481) $ (17,642) $ (8,468)
Class Y Shares...... 1,455 1,988 171 23 (283) (3) 1,343 2,008
Amount....... $ 11,590 $ 15,965 $ 1,366 $ 183 $ (2,241) $ (28) $ 10,715 $ 16,120
INCOME ALLOCATION
FUND:
Class A Shares...... 1,515 1,075 42 3 (629) (39) 928 1,039
Amount....... $ 15,271 $ 10,853 $ 424 $ 25 $ (6,340) $ (391) $ 9,355 $ 10,487
Class B Shares...... 367 166 8 1 (59) @@ 316 167
Amount....... $ 3,708 $ 1,677 $ 78 $ 4 $ (594) $ @@ $ 3,192 $ 1,681
Class C Shares...... 885 481 16 1 (602) (1) 299 481
Amount....... $ 8,908 $ 4,849 $ 157 $ 13 $ (6,033) $ (12) $ 3,032 $ 4,850
</Table>
283
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
INCOME FUND:
Class A Shares...... 890 1,727 125 100 (948) (572) 67 1,255
Amount....... $ 9,362 $ 18,318 $ 1,312 $ 1,060 $ (10,000) $ (6,021) $ 674 $ 13,357
Class B Shares...... 224 323 17 12 (174) (266) 67 69
Amount....... $ 2,353 $ 3,438 $ 174 $ 131 $ (1,833) $ (2,821) $ 694 $ 748
Class C Shares...... 168 370 16 13 (201) (344) (17) 39
Amount....... $ 1,783 $ 3,951 $ 167 $ 141 $ (2,117) $ (3,664) $ (167) $ 428
Class Y Shares...... 1,595 1 47 @@ (38) -- 1,604 1
Amount....... $ 16,776 $ 10 $ 494 @@ $ (397) $ -- $ 16,873 $ 10
INFLATION PLUS FUND:
Class A Shares...... 18,801 23,222 1,267 605 (9,846) (8,615) 10,222 15,212
Amount....... $ 204,666 $ 250,275 $13,713 $ 6,490 $(107,151) $ (93,130) $ 111,228 $ 163,635
Class B Shares...... 2,691 4,655 320 163 (1,685) (1,361) 1,326 3,457
Amount....... $ 29,325 $ 50,155 $ 3,472 $ 1,747 $ (18,341) $ (14,644) $ 14,456 $ 37,258
Class C Shares...... 15,748 20,033 985 465 (10,907) (6,366) 5,826 14,132
Amount....... $ 171,480 $ 215,788 $10,664 $ 4,979 $(118,510) $ (68,390) $ 63,634 $ 152,377
Class Y Shares...... 6,915 2,091 278 12 (312) (3) 6,881 2,100
Amount....... $ 75,336 $ 22,705 $ 3,005 $ 129 $ (3,379) $ (32) $ 74,962 $ 22,802
INTERNATIONAL
CAPITAL APPRECIATION
FUND:
Class A Shares...... 8,923 4,060 -- 7 (2,419) (930) 6,504 3,137
Amount....... $ 107,673 $ 43,529 $ -- $ 69 $ (29,044) $ (9,755) $ 78,629 $ 33,843
Class B Shares...... 1,416 942 -- 1 (314) (377) 1,102 566
Amount....... $ 16,612 $ 9,962 $ -- $ 12 $ (3,670) $ (3,903) $ 12,942 $ 6,071
Class C Shares...... 1,905 1,175 -- 1 (540) (277) 1,365 899
Amount....... $ 22,367 $ 12,442 $ -- $ 13 $ (6,308) $ (2,893) $ 16,059 $ 9,562
Class Y Shares...... 3,973 2,440 -- @@ (375) (16) 3,598 2,424
Amount....... $ 48,003 $ 26,773 $ -- $ 1 $ (4,540) $ (174) $ 43,463 $ 26,600
INTERNATIONAL
OPPORTUNITIES FUND:
Class A Shares...... 1,937 2,241 -- 3 (1,923) (1,619) 14 625
Amount....... $ 24,270 $ 23,586 $ -- $ 31 $ (24,092) $ (17,271) $ 178 $ 6,346
Class B Shares...... 310 356 -- -- (562) (385) (252) (29)
Amount....... $ 3,645 $ 3,604 $ -- $ -- $ (6,639) $ (3,882) $ (2,994) $ (278)
Class C Shares...... 254 490 -- -- (367) (615) (113) (125)
Amount....... $ 2,963 $ 4,918 $ -- $ -- $ (4,232) $ (6,142) $ (1,269) $ (1,224)
Class Y Shares...... 73 193 -- 3 (31) (435) 42 (239)
Amount....... $ 932 $ 2,093 $ -- $ 28 $ (395) $ (4,729) $ 537 $ (2,608)
INTERNATIONAL SMALL
COMPANY FUND:
Class A Shares...... 1,228 1,317 200 65 (763) (554) 665 828
Amount....... $ 16,692 $ 17,168 $ 2,473 $ 789 $ (10,416) $ (6,975) $ 8,749 $ 10,982
Class B Shares...... 245 185 32 12 (120) (89) 157 108
Amount....... $ 3,258 $ 2,374 $ 389 $ 140 $ (1,585) $ (1,106) $ 2,062 $ 1,408
Class C Shares...... 320 677 91 19 (263) (164) 148 532
Amount....... $ 4,216 $ 8,742 $ 1,092 $ 229 $ (3,457) $ (2,049) $ 1,851 $ 6,922
Class Y Shares...... 1,460 1,229 381 145 (406) (173) 1,435 1,201
Amount....... $ 19,654 $ 16,166 $ 4,758 $ 1,779 $ (5,762) $ (2,251) $ 18,650 $ 15,694
MIDCAP FUND:
Class A Shares...... 5,185 10,517 1,383 -- (11,173) (10,854) (4,605) (337)
Amount....... $ 128,890 $ 226,797 $31,412 $ -- $(273,711) $(234,207) $ (113,409) $ (7,410)
Class B Shares...... 165 1,045 425 -- (2,284) (2,205) (1,694) (1,160)
Amount....... $ 3,808 $ 21,514 $ 9,150 $ -- $ (53,587) $ (45,362) $ (40,629) $ (23,848)
Class C Shares...... 163 1,528 459 -- (3,030) (3,269) (2,408) (1,741)
Amount....... $ 3,872 $ 31,366 $ 9,908 $ -- $ (70,943) $ (67,414) $ (57,163) $ (36,048)
Class Y Shares...... 904 1,439 89 -- (375) (938) 618 501
Amount....... $ 23,183 $ 32,130 $ 2,097 $ -- $ (9,751) $ (21,064) $ 15,529 $ 11,066
</Table>
284
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
MIDCAP VALUE FUND:
Class A Shares...... 365 9,912 1,692 -- (2,660) (1,932) (603) 7,980
Amount....... $ 4,754 $ 120,745 $20,631 $ -- $ (34,854) $ (23,847) $ (9,469) $ 96,898
Class B Shares...... 91 1,557 368 -- (651) (557) (192) 1,000
Amount....... $ 1,159 $ 18,732 $ 4,365 $ -- $ (8,272) $ (6,685) $ (2,748) $ 12,047
Class C Shares...... 61 1,867 405 -- (1,037) (988) (571) 879
Amount....... $ 766 $ 22,451 $ 4,809 $ -- $ (13,160) $ (11,899) $ (7,585) $ 10,552
Class Y Shares...... 2,956 186 18 -- (222) @@ 2,752 186
Amount....... $ 38,771 $ 2,346 $ 221 $ -- $ (3,096) $ (4) $ 35,896 $ 2,342
MONEY MARKET FUND:
Class A Shares...... 221,158 268,280 3,418 562 (247,710) (309,599) (23,134) (40,757)
Amount....... $ 221,158 $ 268,280 $ 3,418 $ 562 $(247,710) $(309,599) $ (23,134) $ (40,757)
Class B Shares...... 18,453 33,505 380 5 (33,953) (55,406) (15,120) (21,896)
Amount....... $ 18,453 $ 33,505 $ 380 $ 5 $ (33,953) $ (55,406) $ (15,120) $ (21,896)
Class C Shares...... 26,919 46,289 218 3 (34,973) (49,621) (7,836) (3,329)
Amount....... $ 26,919 $ 46,289 $ 218 $ 3 $ (34,973) $ (49,621) $ (7,836) $ (3,329)
Class Y Shares...... 9,406 8,799 324 21 (3,314) (284) 6,416 8,536
Amount....... $ 9,406 $ 8,799 $ 324 $ 21 $ (3,314) $ (284) $ 6,416 $ 8,536
RETIREMENT INCOME
FUND:
Class A Shares...... 5 -- @@ -- -- -- 5 --
Amount....... $ 48 $ -- $ @@ $ -- $ -- $ -- $ 48 $ --
Class B Shares...... 1 -- @@ -- -- -- 1 --
Amount....... $ 10 $ -- $ @@ $ -- $ -- $ -- $ 10 $ --
Class C Shares...... 1 -- @@ -- -- -- 1 --
Amount....... $ 10 $ -- $ @@ $ -- $ -- $ -- $ 10 $ --
Class Y Shares...... 1 -- @@ -- -- -- 1 --
Amount....... $ 10 $ -- $ @@ $ -- $ -- $ -- $ 10 $ --
SELECT MIDCAP GROWTH
FUND:
Class A Shares...... 1,559 -- -- -- (81) -- 1,478 --
Amount....... $ 15,493 $ -- $ -- $ -- $ (821) $ -- $ 14,672 $ --
Class B Shares...... 245 -- -- -- (12) -- 233 --
Amount....... $ 2,425 $ -- $ -- $ -- $ (117) $ -- $ 2,308 $ --
Class C Shares...... 183 -- -- -- (10) -- 173 --
Amount....... $ 1,808 $ -- $ -- $ -- $ (100) $ -- $ 1,708 $ --
Class Y Shares...... 21 -- -- -- @@ -- 21 --
Amount....... $ 209 $ -- $ -- $ -- $ (3) $ -- $ 206 $ --
SELECT MIDCAP VALUE
FUND:
Class A Shares...... 2,101 -- -- -- (23) -- 2,078 --
Amount....... $ 21,632 $ -- $ -- $ -- $ (253) $ -- $ 21,379 $ --
Class B Shares...... 163 -- -- -- (4) -- 159 --
Amount....... $ 1,726 $ -- $ -- $ -- $ (38) $ -- $ 1,688 $ --
Class C Shares...... 278 -- -- -- (10) -- 268 --
Amount....... $ 2,976 $ -- $ -- $ -- $ (104) $ -- $ 2,872 $ --
Class Y Shares...... 50 -- -- -- -- -- 50 --
Amount....... $ 500 $ -- $ -- $ -- $ -- $ -- $ 500 $ --
SELECT SMALLCAP
GROWTH FUND:
Class A Shares...... 545 -- -- -- -- -- 545 --
Amount....... $ 5,445 $ -- $ -- $ -- $ -- $ -- $ 5,445 $ --
Class B Shares...... 21 -- -- -- -- -- 21 --
Amount....... $ 207 $ -- $ -- $ -- $ -- $ -- $ 207 $ --
Class C Shares...... 21 -- -- -- -- -- 21 --
Amount....... $ 213 $ -- $ -- $ -- $ -- $ -- $ 213 $ --
Class Y Shares...... 20 -- -- -- -- -- 20 --
Amount....... $ 200 $ -- $ -- $ -- $ -- $ -- $ 200 $ --
</Table>
285
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
SHORT DURATION FUND:
Class A Shares...... 1,286 3,953 93 84 (2,297) (3,384) (918) 653
Amount....... $ 12,820 $ 40,074 $ 929 $ 849 $ (22,878) $ (34,319) $ (9,129) $ 6,604
Class B Shares...... 177 598 21 21 (520) (409) (322) 210
Amount....... $ 1,762 $ 6,048 $ 207 $ 213 $ (5,181) $ (4,134) $ (3,212) $ 2,127
Class C Shares...... 641 2,620 55 59 (1,830) (2,236) (1,134) 443
Amount....... $ 6,407 $ 26,506 $ 543 $ 596 $ (18,239) $ (22,610) $ (11,289) $ 4,492
Class Y Shares...... 5,565 3,109 226 15 (533) (4) 5,258 3,120
Amount....... $ 55,422 $ 31,331 $ 2,244 $ 150 $ (5,283) $ (37) $ 52,383 $ 31,444
SMALL COMPANY FUND:
Class A Shares...... 397 3,778 -- -- (2,105) (3,319) (1,708) 459
Amount....... $ 6,768 $ 56,945 $ -- $ -- $ (35,226) $ (49,235) $ (28,458) $ 7,710
Class B Shares...... 54 574 -- -- (883) (766) (829) (192)
Amount....... $ 830 $ 8,208 $ -- $ -- $ (13,912) $ (10,826) $ (13,082) $ (2,618)
Class C Shares...... 32 759 -- -- (921) (1,129) (889) (370)
Amount....... $ 505 $ 10,913 $ -- $ -- $ (14,243) $ (15,851) $ (13,738) $ (4,938)
Class Y Shares...... 1,300 717 -- -- (61) (694) 1,239 23
Amount....... $ 21,676 $ 10,759 $ -- $ -- $ (1,057) $ (11,024) $ 20,619 $ (265)
SMALLCAP GROWTH
FUND:
Class A Shares...... 1,208 1,534 -- -- (609) (553) 599 981
Amount....... $ 33,404 $ 37,161 $ -- $ -- $ (16,505) $ (13,298) $ 16,899 $ 23,863
Class B Shares...... 201 305 -- -- (99) (85) 102 220
Amount....... $ 4,983 $ 6,755 $ -- $ -- $ (2,439) $ (1,879) $ 2,544 $ 4,876
Class C Shares...... 297 312 -- -- (137) (101) 160 211
Amount....... $ 7,553 $ 6,832 $ -- $ -- $ (3,371) $ (2,167) $ 4,182 $ 4,665
Class H Shares...... 42 60 -- -- (220) (276) (178) (216)
Amount....... $ 1,049 $ 1,319 $ -- $ -- $ (5,451) $ (6,068) $ (4,402) $ (4,749)
Class L Shares...... 295 389 -- -- (740) (661) (445) (272)
Amount....... $ 8,024 $ 9,377 $ -- $ -- $ (20,261) $ (15,890) $ (12,237) $ (6,513)
Class M Shares...... 42 54 -- -- (159) (190) (117) (136)
Amount....... $ 1,027 $ 1,173 $ -- $ -- $ (3,946) $ (4,155) $ (2,919) $ (2,982)
Class N Shares...... 16 26 -- -- (56) (45) (40) (19)
Amount....... $ 406 $ 564 $ -- $ -- $ (1,389) $ (961) $ (983) $ (397)
Class Y Shares...... 1,738 234 -- -- (25) (1) 1,713 233
Amount....... $ 47,949 $ 5,510 $ -- $ -- $ (725) $ (36) $ 47,224 $ 5,474
STOCK FUND:
Class A Shares...... 3,320 9,128 310 -- (20,910) (12,557) (17,280) (3,429)
Amount....... $ 58,908 $ 155,036 $ 5,503 $ -- $(371,998) $(213,600) $ (307,587) $ (58,564)
Class B Shares...... 623 1,547 -- -- (6,244) (4,292) (5,621) (2,745)
Amount....... $ 10,341 $ 24,965 $ -- $ -- $(104,388) $ (68,863) $ (94,047) $ (43,898)
Class C Shares...... 489 1,481 -- -- (6,146) (5,542) (5,657) (4,061)
Amount....... $ 8,221 $ 24,036 $ -- $ -- $(102,989) $ (89,286) $ (94,768) $ (65,250)
Class Y Shares...... 1,226 2,167 54 -- (300) (91) 980 2,076
Amount....... $ 22,574 $ 38,196 $ 1,005 $ -- $ (5,539) $ (1,606) $ 18,040 $ 36,590
TARGET RETIREMENT
2010 FUND:
Class A Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 12 $ -- $ -- $ -- $ -- $ -- $ 12 $ --
Class B Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class C Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class Y Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
</Table>
286
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
TARGET RETIREMENT
2020 FUND:
Class A Shares...... 15 -- -- -- -- -- 15 --
Amount....... $ 144 $ -- $ -- $ -- $ -- $ -- $ 144 $ --
Class B Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class C Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class Y Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
TARGET RETIREMENT
2030 FUND:
Class A Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class B Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class C Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
Class Y Shares...... 1 -- -- -- -- -- 1 --
Amount....... $ 10 $ -- $ -- $ -- $ -- $ -- $ 10 $ --
TAX-FREE CALIFORNIA
FUND:
Class A Shares...... 230 692 48 52 (204) (394) 74 350
Amount....... $ 2,382 $ 6,995 $ 495 $ 519 $ (2,114) $ (3,908) $ 763 $ 3,606
Class B Shares...... 33 26 2 3 (7) (114) 28 (85)
Amount....... $ 336 $ 264 $ 25 $ 29 $ (68) $ (1,147) $ 293 $ (854)
Class C Shares...... 52 123 4 2 (8) (109) 48 16
Amount....... $ 534 $ 1,252 $ 43 $ 18 $ (85) $ (1,097) $ 492 $ 173
TAX-FREE MINNESOTA
FUND:
Class A Shares...... 216 148 16 22 (100) (69) 132 101
Amount....... $ 2,246 $ 1,553 $ 162 $ 224 $ (1,039) $ (718) $ 1,369 $ 1,059
Class B Shares...... 28 21 2 3 (12) (13) 18 11
Amount....... $ 288 $ 220 $ 20 $ 26 $ (122) $ (134) $ 186 $ 112
Class C Shares...... 18 1 1 2 (9) (11) 10 (8)
Amount....... $ 186 $ 5 $ 11 $ 20 $ (92) $ (115) $ 105 $ (90)
Class E Shares...... 15 33 74 134 (186) (394) (97) (227)
Amount....... $ 158 $ 364 $ 770 $ 1,408 $ (1,948) $ (4,133) $ (1,020) $ (2,361)
Class H Shares...... @@ 9 @@ 1 @@ (14) @@ (4)
Amount....... $ @@ $ 100 $ 4 $ 8 $ (1) $ (149) $ 3 $ (41)
Class L Shares...... 25 16 9 15 (16) (46) 18 (15)
Amount....... $ 265 $ 173 $ 91 $ 152 $ (171) $ (475) $ 185 $ (150)
Class M Shares...... 1 @@ @@ 1 (9) (24) (8) (23)
Amount....... $ 18 $ 1 $ 4 $ 15 $ (97) $ (265) $ (75) $ (249)
Class N Shares...... 2 @@ @@ 1 (3) (1) (1) @@
Amount....... $ 10 $ 4 $ 4 $ 9 $ (27) $ (11) $ (13) $ 2
Class Y Shares...... 1 -- @@ @@ -- -- 1 @@
Amount....... $ 9 $ -- $ @@ $ @@ $ -- $ -- $ 9 $ @@
</Table>
287
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
OCTOBER 31, 2005
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
TAX-FREE NATIONAL
FUND:
Class A Shares...... 1,548 1,938 121 131 (658) (871) 1,011 1,198
Amount....... $ 17,443 $ 21,611 $ 1,350 $ 1,457 $ (7,390) $ (9,642) $ 11,403 $ 13,426
Class B Shares...... 162 85 15 24 (113) (150) 64 (41)
Amount....... $ 1,804 $ 954 $ 168 $ 261 $ (1,259) $ (1,648) $ 713 $ (433)
Class C Shares...... 320 336 13 24 (314) (301) 19 59
Amount....... $ 3,583 $ 3,709 $ 149 $ 268 $ (3,508) $ (3,329) $ 224 $ 648
Class E Shares...... 61 71 79 124 (216) (408) (76) (213)
Amount....... $ 686 $ 821 $ 886 $ 1,366 $ (2,420) $ (4,526) $ (848) $ (2,339)
Class H Shares...... @@ @@ 1 4 (33) (104) (32) (100)
Amount....... @@ $ 3 $ 9 $ 46 $ (369) $ (1,161) $ (360) $ (1,112)
Class L Shares...... 57 118 20 30 (47) (137) 30 11
Amount....... $ 641 $ 1,319 $ 226 $ 328 $ (528) $ (1,512) $ 339 $ 135
Class M Shares...... 2 24 3 5 (13) (16) (8) 13
Amount....... $ 19 $ 270 $ 30 $ 51 $ (140) $ (175) $ (91) $ 146
Class N Shares...... @@ @@ 1 2 (6) (8) (4) (6)
Amount....... $ @@ $ 2 $ 16 $ 26 $ (64) $ (96) $ (48) $ (68)
Class Y Shares...... 1 -- @@ @@ -- -- 1 @@
Amount....... $ 9 $ -- $ @@ $ @@ $ -- $ -- $ 9 $ @@
TAX-FREE NEW YORK
FUND:
Class A Shares...... 52 139 37 43 (16) (17) 73 165
Amount....... $ 545 $ 1,432 $ 387 $ 437 $ (169) $ (181) $ 763 $ 1,688
Class B Shares...... 20 42 4 4 @@ @@ 24 46
Amount....... $ 200 $ 431 $ 44 $ 48 $ @@ $ @@ $ 244 $ 479
Class C Shares...... 73 57 5 6 (8) (11) 70 52
Amount....... $ 769 $ 583 $ 52 $ 59 $ (88) $ (104) $ 733 $ 538
TOTAL RETURN BOND
FUND:
Class A Shares...... 7,536 9,732 1,081 1,649 (6,575) (8,220) 2,042 3,161
Amount....... $ 81,793 $ 105,640 $11,696 $17,740 $ (71,365) $ (88,960) $ 22,124 $ 34,420
Class B Shares...... 1,007 1,337 235 498 (2,001) (2,978) (759) (1,143)
Amount....... $ 10,886 $ 14,446 $ 2,529 $ 5,327 $ (21,616) $ (32,116) $ (8,201) $ (12,343)
Class C Shares...... 1,024 1,735 208 491 (2,429) (3,976) (1,197) (1,750)
Amount....... $ 11,119 $ 18,830 $ 2,255 $ 5,276 $ (26,396) $ (42,993) $ (13,022) $ (18,887)
Class Y Shares...... 8,276 4,596 614 419 (521) (1,204) 8,369 3,811
Amount....... $ 90,740 $ 50,328 $ 6,705 $ 4,549 $ (5,670) $ (13,251) $ 91,775 $ 41,626
U.S. GOVERNMENT
SECURITIES FUND:
Class A Shares...... 1,580 1,937 200 229 (2,238) (3,389) (458) (1,223)
Amount....... $ 15,082 $ 18,712 $ 1,905 $ 2,207 $ (21,353) $ (32,742) $ (4,366) $ (11,823)
Class B Shares...... 306 383 77 96 (816) (1,718) (433) (1,239)
Amount....... $ 2,904 $ 3,698 $ 729 $ 920 $ (7,742) $ (16,532) $ (4,109) $ (11,914)
Class C Shares...... 392 495 37 54 (839) (1,863) (410) (1,314)
Amount....... $ 3,723 $ 4,749 $ 355 $ 513 $ (7,948) $ (17,923) $ (3,870) $ (12,661)
Class E Shares...... 93 110 408 451 (1,606) (2,198) (1,105) (1,637)
Amount....... $ 878 $ 1,064 $ 3,875 $ 4,337 $ (15,284) $ (21,185) $ (10,531) $ (15,784)
Class H Shares...... 14 15 11 16 (138) (277) (113) (246)
Amount....... $ 126 $ 146 $ 107 $ 158 $ (1,311) $ (2,663) $ (1,078) $ (2,359)
Class L Shares...... 158 235 136 149 (548) (852) (254) (468)
Amount....... $ 1,513 $ 2,270 $ 1,291 $ 1,438 $ (5,229) $ (8,212) $ (2,425) $ (4,504)
Class M Shares...... 20 27 10 14 (118) (132) (88) (91)
Amount....... $ 199 $ 257 $ 100 $ 133 $ (1,129) $ (1,277) $ (830) $ (887)
Class N Shares...... 5 5 3 4 (27) (43) (19) (34)
Amount....... $ 46 $ 42 $ 33 $ 41 $ (258) $ (413) $ (179) $ (330)
Class Y Shares...... 961 -- 31 @@ -- -- 992 @@
Amount....... $ 9,199 $ -- $ 292 $ @@ $ -- $ -- $ 9,491 $ @@
</Table>
288
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR NET INCREASE (DECREASE)
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED OF SHARES
------------------------ -------------------- ---------------------- ------------------------
2005 2004 2005 2004 2005 2004 2005 2004
---------- ---------- -------- -------- --------- --------- ---------- ----------
VALUE FUND:
Class A Shares...... 996 1,944 20 39 (992) (849) 24 1,134
Amount....... $ 10,434 $ 18,291 $ 204 $ 368 $ (10,429) $ (8,023) $ 209 $ 10,636
Class B Shares...... 201 241 -- 1 (183) (137) 18 105
Amount....... $ 2,069 $ 2,259 $ -- $ 13 $ (1,890) $ (1,282) $ 179 $ 990
Class C Shares...... 114 279 -- 2 (279) (310) (165) (29)
Amount....... $ 1,179 $ 2,600 $ -- $ 18 $ (2,885) $ (2,903) $ (1,706) $ (285)
Class Y Shares...... 3,361 2,200 32 @@ (12) (3) 3,381 2,197
Amount....... $ 34,573 $ 20,813 $ 328 @@ $ (130) $ (31) $ 34,771 $ 20,782
VALUE OPPORTUNITIES
FUND:
Class A Shares...... 3,015 1,411 -- -- (501) (148) 2,514 1,263
Amount....... $ 47,123 $ 18,872 $ -- $ -- $ (7,840) $ (1,981) $ 39,283 $ 16,891
Class B Shares...... 651 315 -- -- (150) (52) 501 263
Amount....... $ 9,516 $ 3,989 $ -- $ -- $ (2,186) $ (660) $ 7,330 $ 3,329
Class C Shares...... 610 349 -- -- (124) (65) 486 284
Amount....... $ 9,022 $ 4,436 $ -- $ -- $ (1,815) $ (811) $ 7,207 $ 3,625
Class H Shares...... 19 26 -- -- (139) (153) (120) (127)
Amount....... $ 267 $ 339 $ -- $ -- $ (2,018) $ (1,970) $ (1,751) $ (1,631)
Class L Shares...... 203 206 -- -- (254) (247) (51) (41)
Amount....... $ 3,161 $ 2,786 $ -- $ -- $ (3,944) $ (3,318) $ (783) $ (532)
Class M Shares...... 37 42 -- -- (141) (122) (104) (80)
Amount....... $ 541 $ 541 $ -- $ -- $ (2,037) $ (1,566) $ (1,496) $ (1,025)
Class N Shares...... 6 9 -- -- (31) (19) (25) (10)
Amount....... $ 99 $ 116 $ -- $ -- $ (455) $ (253) $ (356) $ (137)
Class Y Shares...... 5,441 714 -- -- (56) (1) 5,385 713
Amount....... $ 84,846 $ 9,718 $ -- $ -- $ (888) $ (16) $ 83,958 $ 9,702
</Table>
@@ Due to the presentation of the financial statements in thousands, the dollar
amount and/or shares round to zero.
7. LINE OF CREDIT:
The Funds participate in a $650,000 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. For the year ended October 31, 2005, the Funds did
not have any borrowings under this facility.
289
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 Year Ended October
31, 2005(f)
Class A...................... $14.57 $ 0.26 $ 0.80 $(0.29) $ -- $ --
Class B...................... 14.43 0.14 0.79 (0.17) -- --
Class C...................... 14.56 0.16 0.80 (0.18) -- --
Class Y...................... 14.72 0.33 0.81 (0.36) -- --
For the Year Ended October
31, 2004(f)
Class A...................... 14.19 0.18 0.38 (0.18) -- --
Class B...................... 14.05 0.07 0.38 (0.07) -- --
Class C...................... 14.18 0.09 0.37 (0.08) -- --
Class Y...................... 14.37 0.25 0.36 (0.26) -- --
For the Year Ended October
31, 2003(f)
Class A...................... 12.67 0.19 1.52 (0.19) -- --
Class B...................... 12.54 0.09 1.51 (0.09) -- --
Class C...................... 12.66 0.11 1.52 (0.11) -- --
Class Y...................... 12.82 0.27 1.54 (0.26) -- --
For the Year Ended October
31, 2002(f)
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) --
THE HARTFORD AGGRESSIVE GROWTH
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... 10.38 (0.02) 1.12 (0.02) -- --
Class B...................... 10.35 (0.08) 1.10 @@ -- --
Class C...................... 10.35 (0.07) 1.09 @@ -- --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.00 (0.01) 0.39 -- -- --
Class B...................... 10.00 (0.02) 0.37 -- -- --
Class C...................... 10.00 (0.02) 0.37 -- -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA--
-----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
---------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD ADVISERS FUND
For the Year Ended October
31, 2005(f)
Class A...................... $15.34 7.30% $1,222,944 1.21% 1.19%(h) 1.73% 66%
Class B...................... 15.19 6.48 437,462 1.99 1.98(h) 0.95 --
Class C...................... 15.34 6.63 253,605 1.91 1.89(h) 1.06 --
Class Y...................... 15.50 7.78 15,342 0.75 0.74(h) 2.13 --
For the Year Ended October
31, 2004(f)
Class A...................... 14.57 3.93(j) 1,539,264 1.22 1.22(h) 1.23 42
Class B...................... 14.43 3.21(j) 550,499 1.95 1.95(h) 0.50 --
Class C...................... 14.56 3.27(j) 355,711 1.86 1.86(h) 0.58 --
Class Y...................... 14.72 4.22 13,587 0.74 0.74(h) 1.71 --
For the Year Ended October
31, 2003(f)
Class A...................... 14.19 13.62 1,470,569 1.40 1.39 1.44 46
Class B...................... 14.05 12.86 593,179 2.13 2.12 0.72 --
Class C...................... 14.18 12.92 421,814 2.00 2.00 0.84 --
Class Y...................... 14.37 14.28 8,714 0.81 0.81 1.98 --
For the Year Ended October
31, 2002(f)
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 --
THE HARTFORD AGGRESSIVE GROWTH
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... 11.46 10.60 58,087 0.85 0.68(i) (0.43) 9
Class B...................... 11.37 9.88 20,155 1.64 1.33(i) (1.08) --
Class C...................... 11.37 9.88 32,718 1.53 1.34(i) (1.08) --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.38 3.80(d) 12,415 0.86(b) 0.67(b) (0.58)(b) 3
Class B...................... 10.35 3.50(d) 4,532 1.69(b) 1.32(b) (1.23)(b) --
Class C...................... 10.35 3.50(d) 5,424 1.59(b) 1.32(b) (1.23)(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.18%, 1.96%, 1.88% and 0.73% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.22%,1.94%, 1.86% and 0.74% for Classes A, B, C
and Y, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.68%, 1.33% and 1.34% for Classes A, B, and C, respectively.
(j) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statements 3.c, the total return would have been 3.74%, 2.95% and
3.06% for classes A, B and C, respectively. The net asset value impact of
the Payment from Affiliate was $0.03, $0.04 and $0.03 for classes A, B and
C, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
290
- --------------------------------------------------------------------------------
<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 BALANCED
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... $10.30 $ 0.13 $ 0.64 $(0.12) $ -- $ --
Class B...................... 10.28 0.06 0.62 (0.04) -- --
Class C...................... 10.28 0.06 0.62 (0.04) -- --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.00 0.02 0.30 (0.02) -- --
Class B...................... 10.00 0.01 0.27 @@ -- --
Class C...................... 10.00 -- 0.28 @@ -- --
THE HARTFORD CAPITAL
APPRECIATION FUND
For the Year Ended October
31, 2005
Class A...................... 30.80 0.09 5.62 -- -- --
Class B...................... 28.82 (0.15) 5.23 -- -- --
Class C...................... 28.88 (0.11) 5.23 -- -- --
Class Y...................... 32.29 0.21 5.97 -- -- --
For the Year Ended October
31, 2004
Class A...................... 26.50 (0.01) 4.31 -- -- --
Class B...................... 24.97 (0.21) 4.06 -- -- --
Class C...................... 25.00 (0.18) 4.06 -- -- --
Class Y...................... 27.64 0.11 4.54 -- -- --
For the Year Ended October
31, 2003
Class A...................... 20.47 (0.04) 6.07 -- -- --
Class B...................... 19.44 (0.19) 5.72 -- -- --
Class C...................... 19.44 (0.16) 5.72 -- -- --
Class Y...................... 21.23 0.08 6.33 -- -- --
For the Year Ended October
31, 2002(f)
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) --
THE HARTFORD CAPITAL
APPRECIATION II FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.00 (0.01) 1.08 -- -- --
Class B...................... 10.00 (0.03) 1.05 -- -- --
Class C...................... 10.00 (0.03) 1.07 -- -- --
Class Y...................... 10.00 0.02 1.06 -- -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
-----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD BALANCED
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... $10.95 7.47% $ 262,878 0.66% 0.60%(h) 1.26% 2%
Class B...................... 10.92 6.66 72,619 1.47 1.31(h) 0.55 --
Class C...................... 10.92 6.66 103,248 1.41 1.31(h) 0.56 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.30 3.15(d) 67,293 0.62(b) 0.59(b) 0.99(b) @@
Class B...................... 10.28 2.82(d) 18,841 1.45(b) 1.29(b) 0.33(b) --
Class C...................... 10.28 2.82(d) 30,414 1.38(b) 1.29(b) 0.30(b) --
THE HARTFORD CAPITAL
APPRECIATION FUND
For the Year Ended October
31, 2005
Class A...................... 36.51 18.54 6,071,891 1.26 1.26(i) 0.31 93
Class B...................... 33.90 17.63 1,631,199 2.03 2.03(i) (0.45) --
Class C...................... 34.00 17.73 1,834,562 1.94 1.94(i) (0.37) --
Class Y...................... 38.47 19.14 245,163 0.78 0.78(i) 0.76 --
For the Year Ended October
31, 2004
Class A...................... 30.80 16.23 4,203,178 1.35 1.35(i) (0.05) 78
Class B...................... 28.82 15.42 1,432,121 2.06 2.06(i) (0.78) --
Class C...................... 28.88 15.52 1,348,972 1.97 1.97(i) (0.68) --
Class Y...................... 32.29 16.82 116,527 0.79 0.79(i) 0.50 --
For the Year Ended October
31, 2003
Class A...................... 26.50 29.46 2,357,913 1.45 1.43 (0.13) 113
Class B...................... 24.97 28.45 1,140,154 2.17 2.17 (0.87) --
Class C...................... 25.00 28.60 981,246 2.05 2.05 (0.75) --
Class Y...................... 27.64 30.19 48,372 0.85 0.85 0.46 --
For the Year Ended October
31, 2002(f)
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 --
THE HARTFORD CAPITAL
APPRECIATION II FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 11.07 10.70(d) 56,981 1.99(b) 1.60(b)(j) (0.30)(b) 46
Class B...................... 11.02 10.20(d) 6,343 2.97(b) 2.35(b)(j) (1.10)(b) --
Class C...................... 11.04 10.40(d) 19,494 2.82(b) 2.35(b)(j) (1.12)(b) --
Class Y...................... 11.08 10.80(d) 332 1.41(b) 1.15(b)(j) 0.29(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.60%, 1.31%, and 1.31% for Classes A, B, and C, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.22%, 1.99%, 1.91% and 0.75% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.32%, 2.03%, 1.94% and 0.76% for Classes A, B, C
and Y, respectively.
(j) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.60%, 2.35%, 2.35% and 1.15% for Classes A, B, C and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
291
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 CONSERVATIVE
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... $10.27 $ 0.23 $ 0.28 $(0.21) $ -- $ --
Class B...................... 10.26 0.16 0.28 (0.14) -- --
Class C...................... 10.26 0.16 0.28 (0.14) -- --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.00 0.03 0.27 (0.03) -- --
Class B...................... 10.00 0.02 0.25 (0.01) -- --
Class C...................... 10.00 0.02 0.25 (0.01) -- --
THE HARTFORD DISCIPLINED
EQUITY FUND
For the Year Ended October
31, 2005
Class A...................... 10.67 0.10 1.09 (0.08) -- --
Class B...................... 10.20 (0.02) 1.08 (0.01) -- --
Class C...................... 10.22 (0.02) 1.07 (0.01) -- --
Class Y...................... 10.99 0.15 1.12 (0.14) -- --
For the Year Ended October
31, 2004
Class A...................... 10.08 0.03 0.57 (0.01) -- --
Class B...................... 9.70 (0.05) 0.55 -- -- --
Class C...................... 9.71 (0.05) 0.56 -- -- --
Class Y...................... 10.36 (0.01) 0.69 (0.05) -- --
For the Year Ended October
31, 2003
Class A...................... 8.43 0.02 1.63 -- -- --
Class B...................... 8.17 (0.04) 1.57 -- -- --
Class C...................... 8.18 (0.04) 1.57 -- -- --
Class Y...................... 8.63 0.08 1.65 -- -- --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA--
-----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
---------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD CONSERVATIVE
ALLOCATION FUND(g)
For the Year Ended October
31, 2005
Class A...................... $10.57 4.96% $ 70,533 0.63% 0.60%(h) 2.25% 23%
Class B...................... 10.56 4.26 14,525 1.48 1.26(h) 1.60 --
Class C...................... 10.56 4.26 27,453 1.42 1.26(h) 1.56 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.27 2.96(d) 33,921 0.63(b) 0.60(b) 1.70(b) @@
Class B...................... 10.26 2.70(d) 4,993 1.44(b) 1.25(b) 1.05(b) --
Class C...................... 10.26 2.70(d) 10,807 1.38(b) 1.25(b) 1.17(b) --
THE HARTFORD DISCIPLINED
EQUITY FUND
For the Year Ended October
31, 2005
Class A...................... 11.78 11.19 209,721 1.41 1.40(i) 0.81 61
Class B...................... 11.25 10.35 39,806 2.34 2.15(i) 0.06 --
Class C...................... 11.26 10.29 33,690 2.11 2.11(i) 0.12 --
Class Y...................... 12.12 11.62 81,582 0.90 0.90(i) 0.97 --
For the Year Ended October
31, 2004
Class A...................... 10.67 5.92 241,014 1.46 1.45(i) 0.30 62
Class B...................... 10.20 5.16 44,561 2.34 2.15(i) (0.41) --
Class C...................... 10.22 5.25(j) 40,965 2.10 2.10(i) (0.36) --
Class Y...................... 10.99 6.55 19,578 0.88 0.88(i) 0.95 --
For the Year Ended October
31, 2003
Class A...................... 10.08 19.57 243,842 1.56 1.45 0.24 76
Class B...................... 9.70 18.73 47,888 2.30 2.15 (0.46) --
Class C...................... 9.71 18.70 46,162 2.17 2.15 (0.46) --
Class Y...................... 10.36 20.05 622 0.98 0.98 0.70 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.60%, 1.26%, and 1.26% for Classes A, B, and C, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.38%, 2.13%, 2.10% and 0.89% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.44%, 2.14%, 2.09% and 0.87% for Classes A, B, C
and Y, respectively.
(j) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statements 3.c the total return would have been 5.24% for Class C.
The net asset impact of the Payment from Affiliate was less than $0.01 for
Class C.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
292
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $17.79 $ 0.23 $ 1.51 $(0.24) $(0.19) $ --
Class B...................... 17.56 0.08 1.48 (0.09) (0.19) --
Class C...................... 17.53 0.10 1.48 (0.11) (0.19) --
Class Y...................... 17.97 0.32 1.53 (0.33) (0.19) --
For the Year Ended October
31, 2004
Class A...................... 15.94 0.17 1.82 (0.14) -- --
Class B...................... 15.75 0.03 1.80 (0.02) -- --
Class C...................... 15.72 0.06 1.79 (0.04) -- --
Class Y...................... 16.11 0.24 1.86 (0.24) -- --
For the Year Ended October
31, 2003
Class A...................... 13.58 0.12 2.37 (0.13)(i) -- --
Class B...................... 13.43 0.03 2.32 (0.03)(i) -- --
Class C...................... 13.40 0.04 2.32 (0.04)(i) -- --
Class Y...................... 13.73 0.19 2.40 (0.21)(i) -- --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA--
----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD DIVIDEND AND
GROWTH FUND
For the Year Ended October
31, 2005
Class A...................... $19.10 9.87% $2,109,617 1.17% 1.17%(g) 1.25% 26%
Class B...................... 18.84 8.92 343,650 2.01 2.01(g) 0.41 --
Class C...................... 18.81 9.08 280,967 1.89 1.89(g) 0.54 --
Class Y...................... 19.30 10.36 114,777 0.73 0.73(g) 1.64 --
For the Year Ended October
31, 2004
Class A...................... 17.79 12.53(h) 1,838,567 1.23 1.23(g) 0.96 25
Class B...................... 17.56 11.62 319,512 2.04 2.04(g) 0.16 --
Class C...................... 17.53 11.76(h) 277,706 1.90 1.90(g) 0.29 --
Class Y...................... 17.97 13.06 69,088 0.75 0.75(g) 1.44 --
For the Year Ended October
31, 2003
Class A...................... 15.94 18.42 1,296,982 1.41 1.40 0.88 31
Class B...................... 15.75 17.52 257,856 2.14 2.13 0.16 --
Class C...................... 15.72 17.67 230,348 2.02 2.02 0.27 --
Class Y...................... 16.11 19.03 42,107 0.81 0.81 1.44 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.16%, 2.01%, 1.88% and 0.72% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.22%, 2.03%, 1.89% and 0.74% for Classes A, B, C
and Y, respectively.
(h) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statements 3.c, the total return would have been 12.47% and 11.72%
for Classes A and C, respectively. The net asset impact of the Payment from
Affiliate was $0.01 and $0.01 for Classes A and C, respectively.
(i) This includes a tax return of capital of less than $0.01.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
293
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 EQUITY INCOME
FUND
For the Year Ended October
31, 2005
Class A...................... $11.28 $ 0.27 $ 0.82 $(0.26) $(0.02) $ --
Class B...................... 11.26 0.17 0.82 (0.16) (0.02) --
Class C...................... 11.27 0.20 0.81 (0.18) (0.02) --
Class Y...................... 11.33 0.32 0.83 (0.31) (0.02) --
For the Year Ended October
31, 2004
Class A...................... 10.37 0.21 0.90 (0.20) @@ --
Class B...................... 10.36 0.13 0.89 (0.12) @@ --
Class C...................... 10.36 0.15 0.89 (0.13) @@ --
Class Y...................... 10.39 0.24 0.95 (0.25) @@ --
From inception August 28,
2003, through October 31,
2003
Class A...................... 10.00 0.02 0.35 -- -- --
Class B...................... 10.00 0.01 0.35 -- -- --
Class C...................... 10.00 0.01 0.35 -- -- --
Class Y...................... 10.00 0.04 0.35 -- -- --
THE HARTFORD FLOATING RATE
FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.00 0.22 0.08 (0.21) -- --
Class B...................... 10.00 0.19 0.08 (0.19) -- --
Class C...................... 10.00 0.18 0.09 (0.19) -- --
Class Y...................... 10.00 0.23 0.08 (0.23) -- --
THE HARTFORD FOCUS FUND
For the Year Ended October
31, 2005
Class A...................... 9.14 0.08 1.04 @@ -- --
Class B...................... 8.92 (0.01) 1.03 -- -- --
Class C...................... 8.92 (0.01) 1.03 -- -- --
Class Y...................... 9.28 0.13 1.06 (0.03) -- --
For the Year Ended October
31, 2004
Class A...................... 8.94 (0.02) 0.22 -- -- --
Class B...................... 8.79 (0.10) 0.23 -- -- --
Class C...................... 8.78 (0.09) 0.23 -- -- --
Class Y...................... 9.04 0.03 0.21 -- -- --
For the Year Ended October
31, 2003
Class A...................... 7.32 (0.02) 1.64 -- -- --
Class B...................... 7.25 (0.08) 1.62 -- -- --
Class C...................... 7.24 (0.08) 1.62 -- -- --
Class Y...................... 7.37 0.01 1.66 -- -- --
For the Year Ended October
31, 2002(f)
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
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD EQUITY INCOME
FUND
For the Year Ended October
31, 2005
Class A...................... $12.09 9.74% $379,604 1.34% 0.51%(g) 2.41% 23%
Class B...................... 12.07 8.84 33,989 2.18 1.38(g) 1.53 --
Class C...................... 12.08 9.00 53,435 2.03 1.23(g) 1.70 --
Class Y...................... 12.15 10.22 784 0.91 0.11(g) 2.79 --
For the Year Ended October
31, 2004
Class A...................... 11.28 10.82 211,826 1.40 0.56(g) 2.26 22
Class B...................... 11.26 9.93 18,438 2.20 1.37(g) 1.46 --
Class C...................... 11.27 10.12 44,043 2.02 1.19(g) 1.64 --
Class Y...................... 11.33 11.53 375 0.91 0.11(g) 2.73 --
From inception August 28,
2003, through October 31,
2003
Class A...................... 10.37 3.70(d) 26,649 1.53(b) 0.73(b) 1.81(b) 1
Class B...................... 10.36 3.60(d) 2,421 2.27(b) 1.47(b) 1.10(b) --
Class C...................... 10.36 3.60(d) 7,639 2.15(b) 1.35(b) 1.23(b) --
Class Y...................... 10.39 3.90(d) 104 0.93(b) 0.13(b) 2.17(b) --
THE HARTFORD FLOATING RATE
FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.09 3.06(d) 169,485 1.03(b) 0.29(b) 5.68(b) 15
Class B...................... 10.08 2.66(d) 5,659 1.89(b) 1.04(b) 4.91(b) --
Class C...................... 10.08 2.67(d) 92,710 1.79(b) 1.02(b) 5.03(b) --
Class Y...................... 10.08 3.10(d) 10,062 0.73(b) 0.01(b) 6.06(b) --
THE HARTFORD FOCUS FUND
For the Year Ended October
31, 2005
Class A...................... 10.26 12.31 50,067 1.65 1.60(h) 0.68 112%
Class B...................... 9.94 11.44 15,156 2.45 2.35(h) (0.09) --
Class C...................... 9.94 11.44 16,737 2.36 2.35(h) (0.05) --
Class Y...................... 10.44 12.86 473 1.16 1.16(h) 1.27 --
For the Year Ended October
31, 2004
Class A...................... 9.14 2.24(i) 67,212 1.62 1.62(h) (0.25) 104
Class B...................... 8.92 1.48(i) 18,610 2.36 2.35(h) (0.98) --
Class C...................... 8.92 1.59(i) 23,901 2.28 2.28(h) (0.91) --
Class Y...................... 9.28 2.65 815 1.11 1.11(h) 0.27 --
For the Year Ended October
31, 2003
Class A...................... 8.94 22.13 70,002 1.76 1.65 (0.29) 138
Class B...................... 8.79 21.24 21,058 2.49 2.35 (1.00) --
Class C...................... 8.78 21.27 27,158 2.36 2.35 (0.99) --
Class Y...................... 9.04 22.66 719 1.17 1.17 0.17 --
For the Year Ended October
31, 2002(f)
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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.50%, 1.38%, 1.22% and 0.10% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 0.56%, 1.36%, 1.19% and 0.10% for Classes A, B, C
and Y, respectively.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.57%, 2.32%, 2.32% and 1.13% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.59%, 2.32%, 2.25% and 1.08% for Classes A, B, C
and Y, respectively.
(i) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statements 3.c the total return would have been 2.21%, 1.48% and
1.53% for Classes A, B and C, respectively. The net asset impact of the
Payment from Affiliate was less than $0.01 for Classes A and B and $0.01 for
Class C.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
294
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $ 5.48 $ 0.09 $ 1.60 $(0.05) $ -- $ --
Class B...................... 5.34 0.05 1.55 (0.02) -- --
Class C...................... 5.33 0.05 1.55 (0.02) -- --
Class Y...................... 5.60 0.02 1.73 (0.08) -- --
For the Year Ended October
31, 2004(f)
Class A...................... 4.67 0.06 0.75 -- -- --
Class B...................... 4.58 0.02 0.74 -- -- --
Class C...................... 4.57 0.02 0.74 -- -- --
Class Y...................... 4.74 0.09 0.77 -- -- --
For the Year Ended October
31, 2003
Class A...................... $ 3.24 (0.01) 1.44 -- -- --
Class B...................... 3.19 (0.03) 1.42 -- -- --
Class C...................... 3.19 (0.03) 1.41 -- -- --
Class Y...................... 3.26 0.01 1.47 -- -- --
For the Year Ended October
31, 2002(f)
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) -- -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
-------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
For the Year Ended October
31, 2005
Class A...................... $7.12 31.01% $15,986 2.01% 1.51%(h) 1.75% 45%
Class B...................... 6.92 29.92 2,815 3.22 2.26(h) 1.02 --
Class C...................... 6.91 29.97 2,765 2.94 2.25(h) 1.08 --
Class Y...................... 7.27 31.36 638 1.36 1.06(h) 2.10 --
For the Year Ended October
31, 2004(f)
Class A...................... 5.48 17.34 8,929 1.93 1.65(h) 1.08 85
Class B...................... 5.34 16.59 1,482 3.32 2.35(h) 0.37 --
Class C...................... 5.33 16.63 1,306 2.97 2.35(h) 0.43 --
Class Y...................... 5.60 18.14 170 1.30 1.20(h) 1.69 --
For the Year Ended October
31, 2003
Class A...................... 4.67 44.14 6,419 1.95 1.65 (0.08) 100
Class B...................... 4.58 43.57 1,555 2.68 2.35 (0.79) --
Class C...................... 4.57 43.26 1,305 2.55 2.35 (0.77) --
Class Y...................... 4.74 45.40 724 1.35 1.20 0.38 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.49%, 2.24%, 2.23% and 1.04% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.63%, 2.33%, 2.33% and 1.17% for Classes A, B, C
and Y.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
295
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 FINANCIAL
SERVICES FUND
For the Year Ended October
31, 2005
Class A...................... $10.44 $ 0.11 $ 1.18 $(0.13) $ -- $ --
Class B...................... 10.26 0.01 1.18 (0.06) -- --
Class C...................... 10.26 0.02 1.17 (0.06) -- --
Class Y...................... 10.55 0.12 1.24 (0.18) -- --
For the Year Ended October
31, 2004(f)
Class A...................... 9.71 0.12 0.69 (0.08) -- --
Class B...................... 9.55 0.05 0.69 (0.03) -- --
Class C...................... 9.55 0.05 0.69 (0.03) -- --
Class Y...................... 9.79 0.17 0.71 (0.12) -- --
For the Year Ended October
31, 2003
Class A...................... 8.03 0.07 1.65 (0.04) -- --
Class B...................... 7.92 0.02 1.61 -- -- --
Class C...................... 7.92 0.02 1.61 -- -- --
Class Y...................... 8.10 0.13 1.64 (0.08) -- --
For the Year Ended October
31, 2002(f)
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
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
For the Year Ended October
31, 2005
Class A...................... $11.60 12.39% $13,958 1.88% 1.51%(h) 0.91% 33%
Class B...................... 11.39 11.58 3,147 2.91 2.28(h) 0.15 --
Class C...................... 11.39 11.58 2,769 2.77 2.27(h) 0.16 --
Class Y...................... 11.73 12.91 773 1.36 1.09(h) 1.30 --
For the Year Ended October
31, 2004(f)
Class A...................... 10.44 8.42 12,910 1.78 1.65(h) 1.17 85
Class B...................... 10.26 7.71 3,043 2.80 2.35(h) 0.44 --
Class C...................... 10.26 7.71 2,459 2.68 2.35(h) 0.44 --
Class Y...................... 10.55 9.06 642 1.27 1.20(h) 1.54 --
For the Year Ended October
31, 2003
Class A...................... 9.71 21.48 12,652 1.90 1.65 0.93 93
Class B...................... 9.55 20.58 3,681 2.62 2.35 0.22 --
Class C...................... 9.55 20.58 3,197 2.50 2.35 0.23 --
Class Y...................... 9.79 22.01 1,580 1.31 1.20 1.38 --
For the Year Ended October
31, 2002(f)
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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.48%, 2.25%, 2.25% and 1.07% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.63%, 2.33%, 2.33% and 1.18% for Classes A, B, C
and Y.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
296
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $15.00 $(0.08) $ 2.35 $ -- $(0.77) $ --
Class B...................... 14.50 (0.20) 2.28 -- (0.77) --
Class C...................... 14.51 (0.19) 2.26 -- (0.77) --
Class Y...................... 15.41 (0.01) 2.42 -- (0.77) --
For the Year Ended October
31, 2004
Class A...................... 13.80 (0.10) 1.36 -- (0.06) --
Class B...................... 13.43 (0.20) 1.33 -- (0.06) --
Class C...................... 13.44 (0.20) 1.32 -- (0.06) --
Class Y...................... 14.09 (0.02) 1.40 -- (0.06) --
For the Year Ended October
31, 2003
Class A...................... 11.42 (0.07) 2.75 -- (0.30) --
Class B...................... 11.20 (0.15) 2.68 -- (0.30) --
Class C...................... 11.21 (0.15) 2.68 -- (0.30) --
Class Y...................... 11.61 (0.02) 2.80 -- (0.30) --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
-------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GLOBAL HEALTH
FUND
For the Year Ended October
31, 2005
Class A...................... $16.50 15.67% $209,835 1.71% 1.60%(h) (0.55)% 50%
Class B...................... 15.81 14.86 71,204 2.52 2.35(h) (1.30) --
Class C...................... 15.81 14.78 72,546 2.36 2.35(h) (1.30) --
Class Y...................... 17.05 16.19 169,698 1.08 1.08(h) (0.12) --
For the Year Ended October
31, 2004
Class A...................... 15.00 9.21 170,672 1.81 1.65(h) (0.68) 41
Class B...................... 14.50 8.49 66,035 2.55 2.35(h) (1.38) --
Class C...................... 14.51 8.49 61,390 2.37 2.35(h) (1.38) --
Class Y...................... 15.41 9.88 1,299 1.12 1.12(h) (0.14) --
For the Year Ended October
31, 2003
Class A...................... 13.80 24.02 126,630 1.76 1.65 (0.62) 37
Class B...................... 13.43 23.13 56,378 2.49 2.35 (1.31) --
Class C...................... 13.44 23.11 51,606 2.36 2.35 (1.31) --
Class Y...................... 14.09 24.50 1,095 1.19 1.19 (0.15) --
For the Year Ended October
31, 2002(f)
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) --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.58%, 2.33%, 2.33% and 1.06% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.63%, 2.34%, 2.34% and 1.10% for Classes A, B, C
and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
297
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 LEADERS
FUND
For the Year Ended October
31, 2005
Class A...................... $16.49 $ 0.08 $ 0.23 $ -- $ -- $ --
Class B...................... 15.77 (0.08) 0.24 -- -- --
Class C...................... 15.84 (0.06) 0.23 -- -- --
Class Y...................... 17.06 0.13 0.27 -- -- --
For the Year Ended October
31, 2004
Class A...................... 13.96 (0.06) 2.59 -- -- --
Class B...................... 13.45 (0.17) 2.49 -- -- --
Class C...................... 13.49 (0.15) 2.50 -- -- --
Class Y...................... 14.34 0.03 2.69 -- -- --
For the Year Ended October
31, 2003
Class A...................... 11.21 (0.03) 2.78 -- -- --
Class B...................... 10.88 (0.12) 2.69 -- -- --
Class C...................... 10.90 (0.11) 2.70 -- -- --
Class Y...................... 11.45 0.03 2.86 -- -- --
For the Year Ended October
31, 2002(f)
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)
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GLOBAL LEADERS
FUND
For the Year Ended October
31, 2005
Class A...................... $16.80 1.88% $419,648 1.58% 1.48%(h) 0.41% 270%
Class B...................... 15.93 1.02 78,986 2.51 2.35(h) (0.45) --
Class C...................... 16.01 1.07 71,623 2.25 2.25(h) (0.34) --
Class Y...................... 17.46 2.34 83,896 0.97 0.97(h) 0.87 --
For the Year Ended October
31, 2004
Class A...................... 16.49 18.12 466,013 1.62 1.62(h) (0.36) 271
Class B...................... 15.77 17.25 90,179 2.52 2.35(h) (1.09) --
Class C...................... 15.84 17.42 87,518 2.24 2.24(h) (0.98) --
Class Y...................... 17.06 18.97 58,791 0.93 0.93(h) 0.31 --
For the Year Ended October
31, 2003
Class A...................... 13.96 24.53 464,610 1.62 1.61 (0.29) 320
Class B...................... 13.45 23.62 78,923 2.36 2.35 (1.01) --
Class C...................... 13.49 23.76 78,303 2.23 2.23 (0.89) --
Class Y...................... 14.34 25.24 19,043 1.00 1.00 0.28 --
For the Year Ended October
31, 2002(f)
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 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(c) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(e) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(f) Per share amounts have been calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.36%, 2.23%, 2.13% and .85% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.53%, 2.26%, 2.15% and .84% for Classes A, B, C
and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
298
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $ 4.42 $ -- $ 0.55 $ -- $ -- $ --
Class B...................... 4.28 (0.04) 0.53 -- -- --
Class C...................... 4.28 (0.04) 0.53 -- -- --
Class Y...................... 4.51 0.03 0.55 -- -- --
For the Year Ended October
31, 2004
Class A...................... 4.68 (0.07) (0.19) -- -- --
Class B...................... 4.56 (0.10) (0.18) -- -- --
Class C...................... 4.56 (0.11) (0.17) -- -- --
Class Y...................... 4.75 (0.04) (0.20) -- -- --
For the Year Ended October
31, 2003
Class A...................... 2.98 (0.04) 1.74 -- -- --
Class B...................... 2.92 (0.06) 1.70 -- -- --
Class C...................... 2.92 (0.06) 1.70 -- -- --
Class Y...................... 3.01 (0.03) 1.77 -- -- --
For the Year Ended October
31, 2002(f)
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) --
THE HARTFORD GROWTH ALLOCATION
FUND(g)
For the Year Ended October
31, 2005
Class A...................... 10.36 0.05 0.89 (0.03) -- --
Class B...................... 10.34 (0.01) 0.87 (0.01) -- --
Class C...................... 10.33 (0.01) 0.88 (0.01) -- --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.00 -- 0.36 -- -- --
Class B...................... 10.00 (0.01) 0.35 -- -- --
Class C...................... 10.00 (0.01) 0.34 -- -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GLOBAL TECHNOLOGY
FUND
For the Year Ended October
31, 2005
Class A...................... $ 4.97 12.44% $ 27,620 2.22% 1.60%(h) @@% 132%
Class B...................... 4.77 11.45 12,409 3.05 2.35(h) (0.79) --
Class C...................... 4.77 11.45 10,712 2.75 2.35(h) (0.65) --
Class Y...................... 5.09 12.86 938 1.22 1.20(h) 0.58 --
For the Year Ended October
31, 2004
Class A...................... 4.42 (5.56) 31,418 2.14 1.65(h) (1.37) 165
Class B...................... 4.28 (6.14) 12,978 2.96 2.35(h) (2.07) --
Class C...................... 4.28 (6.14) 13,891 2.62 2.35(h) (2.07) --
Class Y...................... 4.51 (5.05) 1,186 1.15 1.15(h) (0.85) --
For the Year Ended October
31, 2003
Class A...................... 4.68 57.05 32,388 1.77 1.65 (1.28) 163
Class B...................... 4.56 56.16 13,991 2.50 2.35 (1.98) --
Class C...................... 4.56 56.16 16,513 2.37 2.35 (1.99) --
Class Y...................... 4.75 57.81 886 1.18 1.18 (0.82) --
For the Year Ended October
31, 2002(f)
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) --
THE HARTFORD GROWTH ALLOCATION
FUND(g)
For the Year Ended October
31, 2005
Class A...................... 11.27 9.12 205,331 0.72 0.64(i) 0.42 1%
Class B...................... 11.19 8.37 65,739 1.53 1.29(i) (0.23) --
Class C...................... 11.19 8.47 100,339 1.47 1.29(i) (0.23) --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.36 3.60(d) 43,279 0.72(b) 0.63(b) 0.13(b) @@
Class B...................... 10.34 3.40(d) 14,177 1.52(b) 1.28(b) (0.53)(b) --
Class C...................... 10.33 3.30(d) 21,221 1.44(b) 1.28(b) (0.52)(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.53%, 2.28%, 2.28% and 1.13% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.60%, 2.30%, 2.30% and 1.09% for Classes A, B, C
and Y,
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.64%, 1.29% and 1.29% for Classes A, B, and C, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
299
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 Year Ended October
31, 2005
Class A...................... $16.19 $(0.04) $ 1.17 $ -- $ -- $ --
Class B...................... 14.49 (0.15) 1.04 -- -- --
Class C...................... 14.50 (0.13) 1.03 -- -- --
Class H...................... 14.59 (0.12) 1.06 -- -- --
Class L...................... 16.32 0.01 1.17 -- -- --
Class M...................... 14.57 (0.11) 1.05 -- -- --
Class N...................... 14.57 (0.11) 1.05 -- -- --
Class Y...................... 16.42 0.01 1.22 -- -- --
For the Year Ended October
31, 2004
Class A...................... 15.19 (0.08) 1.08 -- -- --
Class B...................... 13.70 (0.15) 0.94 -- -- --
Class C...................... 13.70 (0.12) 0.92 -- -- --
Class H...................... 13.74 (0.20) 1.05 -- -- --
Class L...................... 15.26 (0.08) 1.14 -- -- --
Class M...................... 13.72 (0.19) 1.04 -- -- --
Class N...................... 13.72 (0.19) 1.04 -- -- --
Class Y...................... 15.31 @@ 1.11 -- -- --
For the Year Ended October
31, 2003
Class A...................... 11.90 (0.03) 3.32 -- -- --
Class B...................... 10.80 (0.07) 2.97 -- -- --
Class C...................... 10.80 (0.07) 2.97 -- -- --
Class H...................... 10.81 (0.14) 3.07 -- -- --
Class L...................... 11.91 (0.05) 3.40 -- -- --
Class M...................... 10.80 (0.14) 3.06 -- -- --
Class N...................... 10.80 (0.14) 3.06 -- -- --
Class Y...................... 11.94 (0.03) 3.40 -- -- --
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) -- -- --
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GROWTH FUND
For the Year Ended October
31, 2005
Class A...................... $17.32 6.98% $635,057 1.40% 1.33%(h) (0.30)% 77%
Class B...................... 15.38 6.14 46,251 2.27 2.15(h) (1.09) --
Class C...................... 15.40 6.21 82,481 2.05 2.05(h) (1.01) --
Class H...................... 15.53 6.44 19,852 1.81 1.81(h) (0.68) --
Class L...................... 17.50 7.23 295,731 1.06 1.06(h) 0.05 --
Class M...................... 15.51 6.45 19,133 1.81 1.81(h) (0.69) --
Class N...................... 15.51 6.45 4,377 1.81 1.81(h) (0.71) --
Class Y...................... 17.65 7.49 52,992 0.85 0.85(h) 0.10 --
For the Year Ended October
31, 2004
Class A...................... 16.19 6.58 384,160 1.55 1.45(h) (0.84) 66
Class B...................... 14.49 5.77 32,440 2.33 2.15(h) (1.54) --
Class C...................... 14.50 5.84 47,575 2.07 2.07(h) (1.45) --
Class H...................... 14.59 6.19 23,527 1.83 1.83(h) (1.23) --
Class L...................... 16.32 6.95 310,084 1.08 1.08(h) (0.48) --
Class M...................... 14.57 6.20 21,522 1.83 1.83(h) (1.23) --
Class N...................... 14.57 6.20 4,356 1.83 1.83(h) (1.23) --
Class Y...................... 16.42 7.25 11,926 0.87 0.87(h) (0.18) --
For the Year Ended October
31, 2003
Class A...................... 15.19 27.65 72,186 1.52 1.45 (0.65) 129
Class B...................... 13.70 26.85 11,552 2.26 2.12 (1.35) --
Class C...................... 13.70 26.85 11,896 2.15 2.15 (1.36) --
Class H...................... 13.74 27.10 27,032 1.90 1.90 (1.09) --
Class L...................... 15.26 28.13 316,451 1.15 1.15 (0.34) --
Class M...................... 13.72 27.04 23,523 1.90 1.90 (1.09) --
Class N...................... 13.72 27.04 4,499 1.90 1.90 (1.09) --
Class Y...................... 15.31 28.22 1 0.96 0.96 (0.17) --
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) --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.31%, 2.13%, 2.03%, 1.79%, 1.04%, 1.79%, 1.79% and .83% for Classes A, B,
C, H, L, M, N and Y, respectively. For the year ended October 31, 2004, had
the fees paid indirectly been included, the ratio would have been 1.43%,
2.13%, 2.05%, 1.80%, 1.05%, 1.80%, 1.80% and 0.85% for Classes A, B, C, H,
L, M, N and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
300
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $23.49 $(0.06) $ 4.41 $ -- $ -- $ --
Class B...................... 20.77 (0.25) 3.90 -- -- --
Class C...................... 20.77 (0.25) 3.90 -- -- --
Class H...................... 20.92 (0.25) 4.00 -- -- --
Class L...................... 23.71 (0.06) 4.52 -- -- --
Class M...................... 20.89 (0.24) 3.98 -- -- --
Class N...................... 20.89 (0.24) 3.98 -- -- --
Class Y...................... 23.82 @@ 4.55 -- -- --
Class Z...................... 24.66 0.01 4.70 -- -- --
For the Year Ended October
31, 2004
Class A...................... 21.25 (0.17) 2.41 -- -- --
Class B...................... 18.91 (0.26) 2.12 -- -- --
Class C...................... 18.91 (0.28) 2.14 -- -- --
Class H...................... 18.99 (0.31) 2.24 -- -- --
Class L...................... 21.36 (0.14) 2.49 -- -- --
Class M...................... 18.97 (0.30) 2.22 -- -- --
Class N...................... 18.97 (0.28) 2.20 -- -- --
Class Y...................... 21.42 (0.01) 2.41 -- -- --
Class Z...................... 22.17 (0.08) 2.57 -- -- --
For the Year Ended October
31, 2003
Class A...................... 15.31 (0.07) 6.01 -- -- --
Class B...................... 13.71 (0.12) 5.32 -- -- --
Class C...................... 13.70 (0.09) 5.30 -- -- --
Class H...................... 13.73 (0.22) 5.48 -- -- --
Class L...................... 15.33 (0.10) 6.13 -- -- --
Class M...................... 13.71 (0.22) 5.48 -- -- --
Class N...................... 13.71 (0.22) 5.48 -- -- --
Class Y...................... 15.35 (0.07) 6.14 -- -- --
Class Z...................... 15.87 (0.06) 6.36 -- -- --
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD GROWTH
OPPORTUNITIES FUND
For the Year Ended October
31, 2005
Class A...................... $27.84 18.52% $222,682 1.54% 1.36%(h) (0.45)% 156%
Class B...................... 24.42 17.57 20,002 2.39 2.15(h) (1.27) --
Class C...................... 24.42 17.57 18,842 2.13 2.13(h) (1.26) --
Class H...................... 24.67 17.92 37,499 1.84 1.84(h) (0.97) --
Class L...................... 28.17 18.81 556,462 1.09 1.09(h) (0.22) --
Class M...................... 24.63 17.90 22,299 1.84 1.84(h) (0.97) --
Class N...................... 24.63 17.90 5,297 1.84 1.84(h) (0.97) --
Class Y...................... 28.37 19.10 28,441 0.88 0.88(h) @@ --
Class Z...................... 29.37 19.10 34,088 0.84 0.84(h) 0.02 --
For the Year Ended October
31, 2004
Class A...................... 23.49 10.54 54,652 1.52 1.45(h) (0.94) 130
Class B...................... 20.77 9.84 11,518 2.45 2.14(h) (1.64) --
Class C...................... 20.77 9.84 11,899 2.11 2.11(h) (1.61) --
Class H...................... 20.92 10.16 39,300 1.83 1.83(h) (1.33) --
Class L...................... 23.71 11.00 518,009 1.08 1.08(h) (0.58) --
Class M...................... 20.89 10.12 22,404 1.83 1.83(h) (1.33) --
Class N...................... 20.89 10.12 4,955 1.83 1.83(h) (1.33) --
Class Y...................... 23.82 11.20 4,792 0.82 0.82(h) (0.33) --
Class Z...................... 24.66 11.23 33,195 0.83 0.83(h) (0.33) --
For the Year Ended October
31, 2003
Class A...................... 21.25 38.80 17,149 1.49 1.45 (0.88) 158
Class B...................... 18.91 37.93 4,470 2.22 2.15 (1.58) --
Class C...................... 18.91 38.03 5,238 2.10 2.10 (1.54) --
Class H...................... 18.99 38.31 45,121 1.85 1.85 (1.31) --
Class L...................... 21.36 39.34 517,892 1.10 1.10 (0.56) --
Class M...................... 18.97 38.36 24,361 1.85 1.85 (1.31) --
Class N...................... 18.97 38.36 4,773 1.85 1.85 (1.31) --
Class Y...................... 21.42 39.54 1 0.91 0.91 (0.38) --
Class Z...................... 22.17 39.70 32,485 0.85 0.85 (0.31) --
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) --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.30%, 2.08%, 2.07%, 1.77%, 1.02%, 1.77%, 1.77%, 0.82% and 0.77% for Classes
A, B, C, H, L, M, N, Y and Z, respectively. For the year ended October 31,
2004, had the fees paid indirectly been included, the ratio would have been
1.40%, 2.10%, 2.06%, 1.78%, 1.03%, 1.78%, 1.78%, 0.77% and 0.78% for Classes
A, B, C, H, L, M, N, Y and Z, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
301
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 Year Ended October
31, 2005
Class A...................... $ 8.18 $0.48 $(0.40) $ (0.50) $-- $--
Class B...................... 8.17 0.42 (0.41) (0.44) -- --
Class C...................... 8.17 0.42 (0.39) (0.45) -- --
Class Y...................... 8.17 0.52 (0.40) (0.54) -- --
For the Year Ended October
31, 2004(f)
Class A...................... 7.94 0.48 0.23 (0.47) -- --
Class B...................... 7.93 0.43 0.22 (0.41) -- --
Class C...................... 7.93 0.44 0.22 (0.42) -- --
Class Y...................... 7.94 0.39 0.36 (0.52) -- --
For the Year Ended October
31, 2003(f)
Class A...................... 6.73 0.60 1.26 (0.65) -- --
Class B...................... 6.72 0.57 1.24 (0.60) -- --
Class C...................... 6.72 0.55 1.26 (0.60) -- --
Class Y...................... 6.73 0.65 1.24 (0.68) -- --
For the Year Ended October
31, 2002(f)
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) -- --
THE HARTFORD INCOME ALLOCATION
FUND(g)
For the Year Ended October
31, 2005
Class A...................... 10.15 0.36 (0.26) (0.36) -- --
Class B...................... 10.14 0.29 (0.26) (0.29) -- --
Class C...................... 10.14 0.30 (0.27) (0.29) -- --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.00 0.09 0.15 (0.09) -- --
Class B...................... 10.00 0.07 0.14 (0.07) -- --
Class C...................... 10.00 0.07 0.14 (0.07) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
-----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD HIGH YIELD FUND
For the Year Ended October
31, 2005
Class A...................... $ 7.76 0.97% $188,599 1.33% 1.33%(h) 5.86% 113%
Class B...................... 7.74 0.08 47,071 2.12 2.10(h) 5.09 --
Class C...................... 7.75 0.30 50,945 2.00 2.00(h) 5.18 --
Class Y...................... 7.75 1.43 25,974 0.87 0.87(h) 6.40 --
For the Year Ended October
31, 2004(f)
Class A...................... 8.18 9.26(j) 247,364 1.35 1.35 6.03 86
Class B...................... 8.17 8.45(j) 63,972 2.07 2.07 5.32 --
Class C...................... 8.17 8.54(j) 71,673 1.98 1.98 5.40 --
Class Y...................... 8.17 9.72 16,410 0.84 0.84 6.13 --
For the Year Ended October
31, 2003(f)
Class A...................... 7.94 28.69 213,377 1.49 1.40 7.98 54
Class B...................... 7.93 27.83 72,293 2.23 2.10 7.39 --
Class C...................... 7.93 27.84 77,968 2.10 2.10 7.31 --
Class Y...................... 7.94 29.27 1 1.69 0.95 8.70 --
For the Year Ended October
31, 2002(f)
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 --
THE HARTFORD INCOME ALLOCATION
FUND(g)
For the Year Ended October
31, 2005
Class A...................... 9.89 1.01 19,445 0.76 0.56(i) 3.75 30
Class B...................... 9.88 0.29 4,778 1.56 1.26(i) 3.09 --
Class C...................... 9.88 0.30 7,711 1.51 1.26(i) 3.04 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.15 2.42(d) 10,539 0.73(b) 0.56(b) 3.21(b) 3
Class B...................... 10.14 2.08(d) 1,690 1.63(b) 1.26(b) 2.56(b) --
Class C...................... 10.14 2.08(d) 4,880 1.48(b) 1.26(b) 2.59(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.33%, 2.10%, 2.00% and 0.87% for classes A, B, C and Y, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.56%, 1.26% and 1.26% for Classes A, B, and C, respectively.
(j) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statement 3.c, the total return would have been 9.25%, 8.45% and
8.44% for Classes A, B and C, respectively. The net asset impact of the
Payment from Affiliate was less than $0.01 for Classes A and B and $0.01 for
Class C.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
302
- --------------------------------------------------------------------------------
<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 INCOME FUND
For the Year Ended October
31, 2005
Class A...................... $10.72 $ 0.51 $(0.44) $(0.51) $(0.04) $ --
Class B...................... 10.72 0.43 (0.43) (0.44) (0.04) --
Class C...................... 10.74 0.43 (0.43) (0.44) (0.04) --
Class Y...................... 10.72 0.52 (0.42) (0.54) (0.04) --
For the Year Ended October
31, 2004
Class A...................... 10.53 0.48 0.22 (0.51) -- --
Class B...................... 10.53 0.42 0.21 (0.44) -- --
Class C...................... 10.55 0.41 0.22 (0.44) -- --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.54 0.48 0.20 (0.50) -- --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.00 0.52 0.54 (0.53) -- --
Class B...................... 10.00 0.44 0.54 (0.45) -- --
Class C...................... 10.00 0.44 0.56 (0.45) -- --
THE HARTFORD INFLATION PLUS
FUND
For the Year Ended October
31, 2005
Class A...................... 10.95 0.41 (0.18) (0.42) (0.09) --
Class B...................... 10.96 0.33 (0.18) (0.34) (0.09) --
Class C...................... 10.96 0.33 (0.19) (0.34) (0.09) --
Class Y...................... 10.97 0.47 (0.22) (0.45) (0.09) --
For the Year Ended October
31, 2004
Class A...................... 10.63 0.30 0.37 (0.31) (0.04) --
Class B...................... 10.64 0.22 0.37 (0.23) (0.04) --
Class C...................... 10.63 0.23 0.37 (0.23) (0.04) --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.57 0.28 0.44 (0.32) -- --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.00 0.27 0.62 (0.26) -- --
Class B...................... 10.00 0.21 0.63 (0.20) -- --
Class C...................... 10.00 0.20 0.63 (0.20) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD INCOME FUND
For the Year Ended October
31, 2005
Class A...................... $10.24 0.70% $ 28,942 1.20% 0.95%(g) 4.80% 188%
Class B...................... 10.24 (0.04) 5,973 2.06 1.70(g) 4.05 --
Class C...................... 10.26 (0.03) 5,142 1.96 1.70(g) 4.05 --
Class Y...................... 10.24 0.98 16,431 0.79 0.70(g) 5.16 --
For the Year Ended October
31, 2004
Class A...................... 10.72 6.85 29,580 1.14 1.00 4.60 167
Class B...................... 10.72 6.10 5,541 1.95 1.70 3.90 --
Class C...................... 10.74 6.09 5,562 1.88 1.70 3.90 --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.72 6.57(d) 10 0.73(b) 0.70(b) 4.89(b) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.53 10.79(d) 15,836 1.54(b) 1.00(b) 5.06(b) 124
Class B...................... 10.53 10.01(d) 4,705 2.31(b) 1.70(b) 4.31(b) --
Class C...................... 10.55 10.22(d) 5,050 2.17(b) 1.70(b) 4.28(b) --
THE HARTFORD INFLATION PLUS
FUND
For the Year Ended October
31, 2005
Class A...................... 10.67 2.10 414,778 1.00 0.95(h) 3.88 71
Class B...................... 10.68 1.33 119,302 1.81 1.70(h) 3.09 --
Class C...................... 10.67 1.24 373,750 1.76 1.70(h) 3.12 --
Class Y...................... 10.68 2.29 95,947 0.68 0.68(h) 4.42 --
For the Year Ended October
31, 2004
Class A...................... 10.95 6.39 313,961 1.04 1.00 3.04 81
Class B...................... 10.96 5.65 107,964 1.81 1.70 2.21 --
Class C...................... 10.96 5.74 319,990 1.76 1.70 2.33 --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.97 6.89(d) 23,045 0.65(b) 0.65(b) 1.55(b) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.63 9.02(d) 142,992 1.34(b) 1.00(b) 2.63(b) 23
Class B...................... 10.64 8.41(d) 67,986 2.09(b) 1.70(b) 1.98(b) --
Class C...................... 10.63 8.31(d) 160,253 1.95(b) 1.70(b) 1.97(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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.95%, 1.70%, 1.70% and 0.70% for Classes A, B, C and Y, respectively.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.95%, 1.70%, 1.70% and 0.68% for Classes A, B, C and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
303
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
CAPITAL APPRECIATION FUND
For the Year Ended October
31, 2005
Class A...................... $11.59 $ 0.07 $ 0.48 $ -- $ -- $--
Class B...................... 11.32 (0.01) 0.46 -- -- --
Class C...................... 11.32 (0.01) 0.46 -- -- --
Class Y...................... 11.72 0.08 0.53 -- -- --
For the Year Ended October
31, 2004(f)
Class A...................... 9.62 (0.01) 2.03 -- (0.05) --
Class B...................... 9.46 (0.08) 1.99 -- (0.05) --
Class C...................... 9.46 (0.08) 1.99 -- (0.05) --
Class Y...................... 9.69 (0.01) 2.09 -- (0.05) --
For the Year Ended October
31, 2003
Class A...................... 6.93 (0.02) 2.72 (0.01) -- --
Class B...................... 6.86 (0.04) 2.64 -- -- --
Class C...................... 6.86 (0.04) 2.64 -- -- --
Class Y...................... 6.98 0.01 2.74 (0.04) -- --
For the Year Ended October
31, 2002(f)
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 Year Ended October
31, 2005
Class A...................... 11.22 0.05 1.86 -- -- --
Class B...................... 10.64 (0.04) 1.75 -- -- --
Class C...................... 10.57 (0.04) 1.74 -- -- --
Class Y...................... 11.53 0.12 1.90 -- -- --
For the Year Ended October
31, 2004
Class A...................... 9.66 0.03 1.54 (0.01) -- --
Class B...................... 9.22 (0.05) 1.47 -- -- --
Class C...................... 9.16 (0.05) 1.46 -- -- --
Class Y...................... 9.91 0.11 1.56 (0.05) -- --
For the Year Ended October
31, 2003
Class A...................... 8.03 0.02 1.61 -- -- --
Class B...................... 7.71 (0.04) 1.55 -- -- --
Class C...................... 7.67 (0.04) 1.53 -- -- --
Class Y...................... 8.19 0.06 1.66 -- -- --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
For the Year Ended October
31, 2005
Class A...................... $12.14 4.74% $131,430 1.77% 1.60%(g) 0.66% 183%
Class B...................... 11.77 3.98 22,304 2.66 2.35(g) (0.09) --
Class C...................... 11.77 3.98 29,486 2.49 2.35(g) (0.07) --
Class Y...................... 12.33 5.20 74,651 1.22 1.20(g) 0.98 --
For the Year Ended October
31, 2004(f)
Class A...................... 11.59 21.14 50,051 1.91 1.65(g) (0.10) 200
Class B...................... 11.32 20.33 8,968 2.83 2.35(g) (0.80) --
Class C...................... 11.32 20.33 12,906 2.63 2.35(g) (0.79) --
Class Y...................... 11.72 21.61 28,775 1.31 1.20(g) (0.09) --
For the Year Ended October
31, 2003
Class A...................... 9.62 38.95 11,362 2.36 1.65 (0.35) 281
Class B...................... 9.46 37.90 2,148 3.08 2.35 (1.04) --
Class C...................... 9.46 37.90 2,285 2.95 2.35 (1.01) --
Class Y...................... 9.69 39.57 292 1.80 1.20 0.16 --
For the Year Ended October
31, 2002(f)
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
OPPORTUNITIES FUND
For the Year Ended October
31, 2005
Class A...................... 13.13 17.02 102,393 1.72 1.57(h) 0.42 119
Class B...................... 12.35 16.07 23,940 2.68 2.35(h) (0.36) --
Class C...................... 12.27 16.08 16,896 2.42 2.35(h) (0.37) --
Class Y...................... 13.55 17.52 5,612 1.05 1.05(h) 0.94 --
For the Year Ended October
31, 2004
Class A...................... 11.22 16.20 87,348 1.83 1.65(h) 0.33 143
Class B...................... 10.64 15.40 23,301 2.77 2.35(h) (0.39) --
Class C...................... 10.57 15.39 15,749 2.48 2.35(h) (0.38) --
Class Y...................... 11.53 16.87 4,288 1.09 1.08(h) 0.82 --
For the Year Ended October
31, 2003
Class A...................... 9.66 20.30 69,153 1.72 1.65 0.25 138
Class B...................... 9.22 19.58 20,459 2.45 2.35 (0.46) --
Class C...................... 9.16 19.43 14,790 2.35 2.35 (0.45) --
Class Y...................... 9.91 21.00 6,058 1.13 1.13 0.77 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.53%, 2.28%, 2.28% and 1.13% for classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.59%, 2.29%, 2.28% and 1.05% for Classes A, B, C
and Y, respectively.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.52%, 2.30%, 2.30% and 1.01% for classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.60%, 2.30%, 2.30% and 1.03% for Classes A, B, C
and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
304
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $13.44 $ 0.06 $ 2.25 $ -- $(1.48) $ --
Class B...................... 13.23 -- 2.16 -- (1.48) --
Class C...................... 13.12 (0.01) 2.15 -- (1.48) --
Class Y...................... 13.54 0.12 2.27 (0.04) (1.48) --
For the Year Ended October
31, 2004
Class A...................... 12.93 0.07 1.31 @@ (0.87) --
Class B...................... 12.82 0.02 1.26 -- (0.87) --
Class C...................... 12.72 0.03 1.24 -- (0.87) --
Class Y...................... 13.02 0.14 1.30 (0.05) (0.87) --
For the Year Ended October
31, 2003(f)
Class A...................... 8.37 0.07 4.51 (0.02) -- --
Class B...................... 8.34 0.01 4.47 -- -- --
Class C...................... 8.28 0.01 4.43 -- -- --
Class Y...................... 8.43 0.09 4.56 (0.06) -- --
For the Year Ended October
31, 2002(f)
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 Year Ended October
31, 2005
Class A...................... 22.61 (0.05) 4.24 -- (0.48) --
Class B...................... 21.47 (0.24) 4.02 -- (0.48) --
Class C...................... 21.52 (0.22) 4.04 -- (0.48) --
Class Y...................... 23.43 0.07 4.40 -- (0.48) --
For the Year Ended October
31, 2004
Class A...................... 20.58 (0.09) 2.12 -- -- --
Class B...................... 19.68 (0.25) 2.04 -- -- --
Class C...................... 19.71 (0.23) 2.04 -- -- --
Class Y...................... 21.21 0.02 2.20 -- -- --
For the Year Ended October
31, 2003
Class A...................... 15.50 (0.08) 5.16 -- -- --
Class B...................... 14.93 (0.20) 4.95 -- -- --
Class C...................... 14.94 (0.18) 4.95 -- -- --
Class Y...................... 15.88 @@ 5.33 -- -- --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
For the Year Ended October
31, 2005
Class A...................... $14.27 18.90% $ 34,896 1.82% 1.60%(g) 0.71% 112%
Class B...................... 13.91 17.96 6,101 2.78 2.35(g) (0.02) --
Class C...................... 13.78 17.96 12,614 2.46 2.35(g) (0.06) --
Class Y...................... 14.41 19.40 65,828 1.28 1.20(g) 1.13 --
For the Year Ended October
31, 2004
Class A...................... 13.44 11.39 23,934 1.99 1.65(g) 0.90 119
Class B...................... 13.23 10.62 3,726 2.89 2.35(g) 0.15 --
Class C...................... 13.12 10.63 10,072 2.60 2.35(g) 0.27 --
Class Y...................... 13.54 11.80 42,449 1.41 1.20(g) 1.26 --
For the Year Ended October
31, 2003(f)
Class A...................... 12.93 54.76 12,320 2.36 1.65 0.72 166
Class B...................... 12.82 53.72 2,237 3.09 2.35 0.03 --
Class C...................... 12.72 53.62 3,004 2.96 2.35 (0.03) --
Class Y...................... 13.02 55.47 25,154 1.64 1.20 0.93 --
For the Year Ended October
31, 2002(f)
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 Year Ended October
31, 2005
Class A...................... 26.32 18.85 1,677,327 1.30 1.30(h) (0.20) 74
Class B...................... 24.77 17.92 464,175 2.08 2.08(h) (0.98) --
Class C...................... 24.86 18.07 499,502 1.99 1.99(h) (0.89) --
Class Y...................... 27.42 19.40 139,273 0.83 0.83(h) 0.26 --
For the Year Ended October
31, 2004
Class A...................... 22.61 9.86 1,544,968 1.37 1.37(h) (0.41) 52
Class B...................... 21.47 9.10 438,658 2.11 2.11(h) (1.15) --
Class C...................... 21.52 9.18 484,268 2.02 2.02(h) (1.06) --
Class Y...................... 23.43 10.47 104,534 0.85 0.85(h) 0.11 --
For the Year Ended October
31, 2003
Class A...................... 20.58 32.77 1,413,021 1.50 1.48 (0.58) 70
Class B...................... 19.68 31.82 424,959 2.23 2.20 (1.30) --
Class C...................... 19.71 31.93 477,891 2.10 2.10 (1.21) --
Class Y...................... 21.21 33.56 83,996 0.90 0.90 (0.01) --
For the Year Ended October
31, 2002(f)
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) --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.55%, 2.30%, 2.30% and 1.15% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.60%, 2.30%, 2.29% and 1.15% for Classes A, B, C
and Y, respectively.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.28%, 2.06%, 1.97% and 0.81% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.36%, 2.10%, 2.00% and 0.84% for Classes A, B, C
and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
305
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 MIDCAP VALUE FUND
For the Year Ended October
31, 2005
Class A...................... $12.89 $(0.04) $ 1.41 $ -- $(0.97) $ --
Class B...................... 12.59 (0.14) 1.37 -- (0.97) --
Class C...................... 12.59 (0.15) 1.38 -- (0.97) --
Class Y...................... 13.11 0.01 1.44 -- (0.97) --
For the Year Ended October
31, 2004
Class A...................... 11.32 (0.04) 1.61 -- -- --
Class B...................... 11.12 (0.13) 1.60 -- -- --
Class C...................... 11.13 (0.13) 1.59 -- -- --
Class Y...................... 11.46 (0.01) 1.66 -- -- --
For the Year Ended October
31, 2003(f)
Class A...................... 8.34 (0.03) 3.01 -- -- --
Class B...................... 8.25 (0.09) 2.96 -- -- --
Class C...................... 8.25 (0.09) 2.97 -- -- --
Class Y...................... 8.39 0.02 3.05 -- -- --
For the Year Ended October
31, 2002(f)
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 Year Ended October
31, 2005
Class A...................... 1.00 0.02 -- (0.02) -- --
Class B...................... 1.00 0.01 -- (0.01) -- --
Class C...................... 1.00 0.01 -- (0.01) -- --
Class Y...................... 1.00 0.02 -- (0.02) -- --
For the Year Ended October
31, 2004
Class A...................... 1.00 0.003 -- (0.003) -- --
Class B...................... 1.00 0.000 -- (0.000) -- --
Class C...................... 1.00 0.000 -- (0.000) -- --
Class Y...................... 1.00 0.007 -- (0.007) -- --
For the Year Ended October
31, 2003
Class A...................... 1.00 0.003 -- (0.003) -- --
Class B...................... 1.00 -- -- -- -- --
Class C...................... 1.00 -- -- -- -- --
Class Y...................... 1.00 0.008 -- (0.008) -- --
For the Year Ended October
31, 2002(f)
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) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD MIDCAP VALUE FUND
For the Year Ended October
31, 2005
Class A...................... $13.29 11.31% $280,662 1.49% 1.40%(h) (0.31)% 49%
Class B...................... 12.85 10.40 59,350 2.33 2.15(h) (1.06) --
Class C...................... 12.85 10.40 61,194 2.19 2.15(h) (1.06) --
Class Y...................... 13.59 11.76 39,965 0.96 0.96(h) 0.13 --
For the Year Ended October
31, 2004
Class A...................... 12.89 13.87 280,173 1.56 1.45(h) (0.03) 46
Class B...................... 12.59 13.22 60,558 2.36 2.15(h) (1.04) --
Class C...................... 12.59 13.12 67,132 2.20 2.15(h) (1.04) --
Class Y...................... 13.11 14.40 2,474 0.90 0.90(h) (0.12) --
For the Year Ended October
31, 2003(f)
Class A...................... 11.32 35.73 155,614 1.60 1.45 (0.35) 56
Class B...................... 11.12 34.79 42,407 2.33 2.15 (1.05) --
Class C...................... 11.13 34.91 49,566 2.20 2.15 (1.05) --
Class Y...................... 11.46 36.59 29 1.03 1.00 0.16 --
For the Year Ended October
31, 2002(f)
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 Year Ended October
31, 2005
Class A...................... 1.00 1.99 182,308 1.22 0.95(i) 1.96 N/A
Class B...................... 1.00 1.23 30,716 1.88 1.70(i) 1.16 --
Class C...................... 1.00 1.23 18,790 1.80 1.70(i) 1.19 --
Class Y...................... 1.00 2.40 16,114 0.61 0.55(i) 2.47 --
For the Year Ended October
31, 2004
Class A...................... 1.00 0.28 205,442 1.22 1.00 0.27 N/A
Class B...................... 1.00 0.01 45,836 1.82 1.25 0.01 --
Class C...................... 1.00 0.01 26,626 1.77 1.27 0.01 --
Class Y...................... 1.00 0.72 9,698 0.56 0.55 0.96 --
For the Year Ended October
31, 2003
Class A...................... 1.00 0.32 246,199 1.28 1.00 0.33 N/A
Class B...................... 1.00 0.00 67,732 2.01 1.33(j) 0.01 --
Class C...................... 1.00 0.00 29,955 1.89 1.36(j) 0.01 --
Class Y...................... 1.00 0.78 1,162 0.68 0.55 0.84 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.38%, 2.13%, 2.13% and .94% for Classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.43%, 2.13%, 2.13% and 0.88% for Classes A, B, C
and Y, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.95%, 1.70%, 1.70% and 0.55% for Classes A, B, C and Y, respectively.
(j) Expense ratio includes a practical waiver of 12b-1 fees.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
306
- --------------------------------------------------------------------------------
<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 RETIREMENT INCOME
FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... $10.00 $ 0.02 $(0.14) $(0.01) $ -- $ --
Class B...................... 10.00 0.01 (0.14) @@ -- --
Class C...................... 10.00 0.01 (0.14) @@ -- --
Class Y...................... 10.00 0.01 (0.14) (0.01) -- --
THE HARTFORD SELECT MIDCAP
GROWTH FUND
From (commencement of
operations) January 1,
2005, through October 31,
2005
Class A...................... 10.06 (0.06) 0.14 -- -- --
Class B...................... 10.06 (0.09) 0.11 -- -- --
Class C...................... 10.06 (0.09) 0.11 -- -- --
Class Y...................... 10.06 (0.05) 0.16 -- -- --
THE HARTFORD SELECT MIDCAP
VALUE FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.00 @@ 0.79 -- -- --
Class B...................... 10.00 (0.03) 0.78 -- -- --
Class C...................... 10.00 (0.03) 0.78 -- -- --
Class Y...................... 10.00 0.02 0.79 -- -- --
THE HARTFORD SELECT SMALLCAP
GROWTH FUND
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 10.00 (0.01) (0.41) -- -- --
Class B...................... 10.00 (0.01) (0.42) -- -- --
Class C...................... 10.00 (0.01) (0.42) -- -- --
Class Y...................... 10.00 @@ (0.42) -- -- --
THE HARTFORD SHORT DURATION
FUND
For the Year Ended October
31, 2005
Class A...................... 10.08 0.33 (0.24) (0.32) -- --
Class B...................... 10.08 0.25 (0.23) (0.25) -- --
Class C...................... 10.08 0.25 (0.23) (0.25) -- --
Class Y...................... 10.07 0.35 (0.23) (0.35) -- --
For the Year Ended October
31, 2004
Class A...................... 10.14 0.30 (0.06) (0.30) -- --
Class B...................... 10.14 0.23 (0.06) (0.23) -- --
Class C...................... 10.14 0.23 (0.06) (0.23) -- --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.11 0.30 (0.04) (0.30) -- --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.00 0.30 0.14 (0.30) -- --
Class B...................... 10.00 0.23 0.14 (0.23) -- --
Class C...................... 10.00 0.23 0.14 (0.23) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD RETIREMENT INCOME
FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... $ 9.87 (1.22)%(d) $ 47 0.63%(b) 0.53%(b) 4.08%(b) 83%
Class B...................... 9.87 (1.29)(d) 10 1.36(b) 1.26(b) 1.76(b) --
Class C...................... 9.87 (1.29)(d) 10 1.36(b) 1.26(b) 1.76(b) --
Class Y...................... 9.86 (1.30)(d) 10 0.28(b) 0.28(b) 2.75(b) --
THE HARTFORD SELECT MIDCAP
GROWTH FUND
From (commencement of
operations) January 1,
2005, through October 31,
2005
Class A...................... 10.14 0.80(d) 14,995 2.22(b) 1.50(b)(h) (0.95)(b) 97
Class B...................... 10.08 0.20(d) 2,354 3.35(b) 2.25(b)(h) (1.70)(b) --
Class C...................... 10.08 0.20(d) 1,741 3.26(b) 2.25(b)(h) (1.70)(b) --
Class Y...................... 10.17 1.09(d) 210 1.66(b) 1.10(b)(h) (0.55)(b) --
THE HARTFORD SELECT MIDCAP
VALUE FUND
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.79 7.90(d) 22,423 1.67(b) 1.55(b)(i) (0.08)(b) 30
Class B...................... 10.75 7.50(d) 1,714 2.64(b) 2.30(b)(i) (0.92)(b) --
Class C...................... 10.75 7.50(d) 2,885 2.53(b) 2.30(b)(i) (0.96)(b) --
Class Y...................... 10.81 8.10(d) 541 1.36(b) 1.15(b)(i) 0.37(b) --
THE HARTFORD SELECT SMALLCAP
GROWTH FUND
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.58 (4.20)(d) 5,217 1.65(b) 1.65(b) (0.76)(b) 4
Class B...................... 9.57 (4.30)(d) 199 2.40(b) 2.40(b) (1.51)(b) --
Class C...................... 9.57 (4.30)(d) 204 2.39(b) 2.39(b) (1.52)(b) --
Class Y...................... 9.58 (4.20)(d) 192 1.20(b) 1.20(b) (0.31)(b) --
THE HARTFORD SHORT DURATION
FUND
For the Year Ended October
31, 2005
Class A...................... 9.85 0.92 29,212 1.05 0.90(j) 3.23 123
Class B...................... 9.85 0.17 8,814 1.89 1.65(j) 2.47 --
Class C...................... 9.85 0.17 22,973 1.78 1.65(j) 2.47 --
Class Y...................... 9.84 1.18 82,439 0.67 0.65(j) 3.53 --
For the Year Ended October
31, 2004
Class A...................... 10.08 2.40 39,148 1.06 0.95 2.95 108
Class B...................... 10.08 1.68 12,267 1.84 1.65 2.26 --
Class C...................... 10.08 1.68 34,949 1.76 1.65 2.26 --
From inception November 28,
2003, through October 31,
2004
Class Y...................... 10.07 2.62(d) 31,429 0.61(b) 0.60(b) 3.03(b) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.14 4.48 32,753 1.34(b) 0.95(b) 3.14(b) 113
Class B...................... 10.14 3.77 10,206 2.09(b) 1.65(b) 2.46(b) --
Class C...................... 10.14 3.77 30,660 1.96(b) 1.65(b) 2.44(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the period ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.49%, 2.24%, 2.24% and 1.09% for Classes A, B, C and Y, respectively.
(i) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the period ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.54%, 2.29%, 2.29% and 1.14% for Classes A, B, C and Y, respectively.
(j) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.90%, 1.65%, 1.65% and 0.65% for Classes A, B, C and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
307
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 SMALL COMPANY
FUND
For the Year Ended October
31, 2005
Class A...................... $15.09 $(0.16) $3.52 $ -- $ -- $ --
Class B...................... 14.17 (0.29) 3.32 -- -- --
Class C...................... 14.19 (0.29) 3.32 -- -- --
Class Y...................... 15.74 (0.07) 3.66 -- -- --
For the Year Ended October
31, 2004
Class A...................... 14.28 (0.18) 0.99 -- -- --
Class B...................... 13.51 (0.27) 0.93 -- -- --
Class C...................... 13.52 (0.28) 0.95 -- -- --
Class Y...................... 14.83 (0.06) 0.97 -- -- --
For the Year Ended October
31, 2003
Class A...................... 9.93 (0.13) 4.48 -- -- --
Class B...................... 9.46 (0.20) 4.25 -- -- --
Class C...................... 9.47 (0.20) 4.25 -- -- --
Class Y...................... 10.27 (0.09) 4.65 -- -- --
For the Year Ended October
31, 2002(f)
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD SMALL COMPANY
FUND
For the Year Ended October
31, 2005
Class A...................... $18.45 22.27% $159,577 1.57% 1.40%(h) (0.88)% 104%
Class B...................... 17.20 21.38 56,664 2.39 2.15(h) (1.63) --
Class C...................... 17.22 21.35 44,564 2.30 2.15(h) (1.63) --
Class Y...................... 19.33 22.81 43,274 0.97 0.97(h) (0.43) --
For the Year Ended October
31, 2004
Class A...................... 15.09 5.67 156,278 1.62 1.45(h) (1.15) 142
Class B...................... 14.17 4.88 58,438 2.40 2.15(h) (1.85) --
Class C...................... 14.19 4.96 49,327 2.30 2.15(h) (1.85) --
Class Y...................... 15.74 6.14 15,731 0.99 0.99(h) (0.71) --
For the Year Ended October
31, 2003
Class A...................... 14.28 43.81 141,327 1.63 1.45 (1.19) 179
Class B...................... 13.51 42.81 58,286 2.36 2.15 (1.89) --
Class C...................... 13.52 42.77 52,010 2.23 2.15 (1.88) --
Class Y...................... 14.83 44.40 14,472 1.05 1.00 (0.73) --
For the Year Ended October
31, 2002(f)
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) --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.35%, 2.10%, 2.10% and .92% for classes A, B, C and Y, respectively. For
the year ended October 31, 2004, had the fees paid indirectly been included,
the ratio would have been 1.40%, 2.10%, 2.10% and 0.94% for Classes A, B, C
and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
308
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $24.60 $(0.15) $ 3.85 $ -- $ -- $ --
Class B...................... 22.39 (0.32) 3.50 -- -- --
Class C...................... 22.39 (0.28) 3.45 -- -- --
Class H...................... 22.46 (0.34) 3.57 -- -- --
Class L...................... 24.60 (0.13) 3.89 -- -- --
Class M...................... 22.44 (0.33) 3.55 -- -- --
Class N...................... 22.46 (0.33) 3.56 -- -- --
Class Y...................... 24.88 (0.04) 3.90 -- -- --
For the Year Ended October
31, 2004
Class A...................... 22.91 (0.15) 1.84 -- -- --
Class B...................... 20.99 (0.28) 1.68 -- -- --
Class C...................... 20.99 (0.27) 1.67 -- -- --
Class H...................... 21.02 (0.34) 1.78 -- -- --
Class L...................... 22.90 (0.19) 1.89 -- -- --
Class M...................... 21.00 (0.32) 1.76 -- -- --
Class N...................... 21.02 (0.31) 1.75 -- -- --
Class Y...................... 23.06 (0.02) 1.84 -- -- --
For the Year Ended October
31, 2003
Class A...................... 15.57 (0.09) 7.43 -- -- --
Class B...................... 14.36 (0.15) 6.78 -- -- --
Class C...................... 14.35 (0.16) 6.80 -- -- --
Class H...................... 14.37 (0.25) 6.90 -- -- --
Class L...................... 15.56 (0.15) 7.49 -- -- --
Class M...................... 14.36 (0.24) 6.88 -- -- --
Class N...................... 14.37 (0.24) 6.89 -- -- --
Class Y...................... 15.61 (0.08) 7.53 -- -- --
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD SMALLCAP GROWTH
FUND
For the Year Ended October
31, 2005
Class A...................... $28.30 15.04% $ 66,403 1.62% 1.40%(f) (0.65)% 81%
Class B...................... 25.57 14.20 16,230 2.51 2.15(f) (1.40) --
Class C...................... 25.56 14.16 15,668 2.33 2.15(f) (1.40) --
Class H...................... 25.69 14.38 15,245 1.96 1.96(f) (1.21) --
Class L...................... 28.36 15.28 119,114 1.21 1.21(f) (0.46) --
Class M...................... 25.66 14.35 15,461 1.96 1.96(f) (1.21) --
Class N...................... 25.69 14.38 5,969 1.96 1.96(f) (1.21) --
Class Y...................... 28.74 15.52 55,933 0.98 0.98(f) (0.23) --
For the Year Ended October
31, 2004
Class A...................... 24.60 7.38 42,962 1.77 1.45(f) (0.81) 102
Class B...................... 22.39 6.67 11,930 2.59 2.15(f) (1.51) --
Class C...................... 22.39 6.67 10,140 2.38 2.15(f) (1.51) --
Class H...................... 22.46 6.85 17,328 1.98 1.98(f) (1.34) --
Class L...................... 24.60 7.42 114,266 1.43 1.43(f) (0.79) --
Class M...................... 22.44 6.86 16,154 1.98 1.98(f) (1.34) --
Class N...................... 22.46 6.85 6,115 1.98 1.98(f) (1.34) --
Class Y...................... 24.88 7.89 5,788 1.03 1.03(f) (0.47) --
For the Year Ended October
31, 2003
Class A...................... 22.91 47.14 17,544 1.61 1.45 (0.83) 122
Class B...................... 20.99 46.17 6,571 2.31 2.15 (1.53) --
Class C...................... 20.99 46.27 5,076 2.22 2.15 (1.53) --
Class H...................... 21.02 46.28 20,767 2.05 2.05 (1.40) --
Class L...................... 22.90 47.17 112,621 1.50 1.45 (0.80) --
Class M...................... 21.00 46.24 17,992 2.05 2.05 (1.40) --
Class N...................... 21.02 46.28 6,110 2.05 2.05 (1.40) --
Class Y...................... 23.06 47.72 1 1.11 1.10 (0.46) --
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) --
</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) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.38%, 2.13%, 2.13%, 1.95%, 1.20%, 1.95%, 1.95% and 0.97% for Classes A, B,
C, H, L, M, N and Y, respectively. For the year ended October 31, 2004, had
the fees paid indirectly been included, the ratio would have been 1.44%,
2.14%, 2.14%, 1.97%, 1.42%, 1.97%, 1.97% and 1.02% for Classes A, B, C, H,
L, M, N and Y, respectively.
The accompanying notes are an integral part of these financial statements.
309
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 Year Ended October
31, 2005
Class A...................... $16.76 $ 0.16 $ 1.57 $(0.10) $ -- $ --
Class B...................... 15.76 @@ 1.47 -- -- --
Class C...................... 15.84 0.04 1.47 -- -- --
Class Y...................... 17.49 0.24 1.66 (0.21) -- --
For the Year Ended October
31, 2004
Class A...................... 16.21 0.03 0.52 -- -- --
Class B...................... 15.35 (0.10) 0.51 -- -- --
Class C...................... 15.41 (0.08) 0.51 -- -- --
Class Y...................... 16.81 0.10 0.58 -- -- --
For the Year Ended October
31, 2003
Class A...................... 13.73 0.04 2.44 -- -- --
Class B...................... 13.10 (0.07) 2.32 -- -- --
Class C...................... 13.13 (0.05) 2.33 -- -- --
Class Y...................... 14.15 0.12 2.54 -- -- --
For the Year Ended October
31, 2002(f)
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) --
THE HARTFORD TARGET RETIREMENT
2010 FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 10.00 0.02 (0.20) -- -- --
Class B...................... 10.00 0.01 (0.19) -- -- --
Class C...................... 10.00 0.01 (0.19) -- -- --
Class Y...................... 10.00 0.02 (0.19) -- -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD STOCK FUND
For the Year Ended October
31, 2005
Class A...................... $18.39 10.36% $ 727,492 1.42% 1.33%(h) 0.89% 62%
Class B...................... 17.23 9.33 278,445 2.23 2.23(h) (0.02) --
Class C...................... 17.35 9.53 182,587 2.09 2.09(h) 0.17 --
Class Y...................... 19.18 10.91 107,578 0.83 0.83(h) 1.24 --
For the Year Ended October
31, 2004
Class A...................... 16.76 3.39 952,606 1.42 1.42(h) 0.18 29
Class B...................... 15.76 2.67 343,148 2.18 2.18(h) (0.59) --
Class C...................... 15.84 2.79 256,271 2.03 2.03(h) (0.44) --
Class Y...................... 17.49 4.04 80,932 0.80 0.80(h) 0.80 --
For the Year Ended October
31, 2003
Class A...................... 16.21 18.06 976,663 1.47 1.45 0.26 37
Class B...................... 15.35 17.18 376,437 2.20 2.18 (0.47) --
Class C...................... 15.41 17.36 311,874 2.07 2.07 (0.36) --
Class Y...................... 16.81 18.80 42,894 0.88 0.88 0.84 --
For the Year Ended October
31, 2002(f)
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 --
THE HARTFORD TARGET RETIREMENT
2010 FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.82 (1.80)(d) 11 0.65(b) 0.49(b) 2.53(b) 12
Class B...................... 9.82 (1.80)(d) 10 1.41(b) 1.26(b) 1.61(b) --
Class C...................... 9.82 (1.80)(d) 10 1.41(b) 1.27(b) 1.60(b) --
Class Y...................... 9.83 (1.70)(d) 10 0.32(b) 0.21(b) 2.65(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.31%, 2.21%, 2.07% and 0.82% for Classes A, B & C, respectively. For the
year ended October 31, 2004, had the fees paid indirectly been included, the
ratio would have been 1.42%, 2.18%, 2.03% and 0.80% for Classes A, B, C and
Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
310
- --------------------------------------------------------------------------------
<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 TARGET RETIREMENT
2020 FUND(G)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... $10.00 $ 0.01 $(0.22) $ -- $ -- $ --
Class B...................... 10.00 0.01 (0.23) -- -- --
Class C...................... 10.00 0.01 (0.23) -- -- --
Class Y...................... 10.00 0.01 (0.22) -- -- --
THE HARTFORD TARGET RETIREMENT
2030 FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 10.00 0.01 (0.26) -- -- --
Class B...................... 10.00 @@ (0.26) -- -- --
Class C...................... 10.00 @@ (0.26) -- -- --
Class Y...................... 10.00 0.01 (0.26) -- -- --
THE HARTFORD TAX-FREE
CALIFORNIA FUND
For the Year Ended October
31, 2005
Class A...................... 10.32 0.38 -- (0.38) -- --
Class B...................... 10.31 0.29 0.01 (0.30) -- --
Class C...................... 10.33 0.29 0.01 (0.30) -- --
For the Year Ended October
31, 2004
Class A...................... 9.93 0.38 0.41 (0.40) -- --
Class B...................... 9.92 0.34 0.38 (0.33) -- --
Class C...................... 9.93 0.32 0.41 (0.33) -- --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.00 0.37 (0.07) (0.37) -- --
Class B...................... 10.00 0.30 (0.08) (0.30) -- --
Class C...................... 10.00 0.30 (0.07) (0.30) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD TARGET RETIREMENT
2020 FUND(G)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... $ 9.79 (2.10)%(d) $ 144 0.66%(b) 0.51%(b) 2.77%(b) 28%
Class B...................... 9.78 (2.20)(d) 10 1.37(b) 1.25(b) 0.86(b) --
Class C...................... 9.78 (2.20)(d) 10 1.37(b) 1.26(b) 0.85(b) --
Class Y...................... 9.79 (2.10)(d) 10 0.29(b) 0.20(b) 1.91(b) --
THE HARTFORD TARGET RETIREMENT
2030 FUND(g)
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.75 (2.50)(d) 10 0.69(b) 0.48(b) 0.76(b) 14
Class B...................... 9.74 (2.60)(d) 10 1.39(b) 1.24(b) @@(b) --
Class C...................... 9.74 (2.60)(d) 9 1.39(b) 1.24(b) @@(b) --
Class Y...................... 9.75 (2.50)(d) 10 0.34(b) 0.19(b) 1.05(b) --
THE HARTFORD TAX-FREE
CALIFORNIA FUND
For the Year Ended October
31, 2005
Class A...................... 10.32 3.69 15,601 1.02 0.90(h) 3.64 31
Class B...................... 10.31 2.92 1,305 1.80 1.65(h) 2.90 --
Class C...................... 10.33 2.91 1,937 1.80 1.65(h) 2.90 --
For the Year Ended October
31, 2004
Class A...................... 10.32 8.15 14,846 1.03 0.95 3.85 41
Class B...................... 10.31 7.40 1,017 1.84 1.65 3.12 --
Class C...................... 10.33 7.49 1,448 1.85 1.65 3.06 --
From inception October 31,
2002, through October 31,
2003
Class A...................... 9.93 3.06(d) 10,799 1.57(b) 0.95(b) 3.73(b) 64
Class B...................... 9.92 2.23(d) 1,827 2.32(b) 1.65(b) 3.07(b) --
Class C...................... 9.93 2.34(d) 1,230 2.18(b) 1.65(b) 3.02(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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.89%, 1.64% and 1.64% for Classes A, B and C, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
311
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 TAX-FREE MINNESOTA FUND
For the Year Ended October
31, 2005(f)
Class A...................... $10.44 $0.39 $(0.22) $(0.39) $ -- $ --
Class B...................... 10.45 0.31 (0.21) (0.32) -- --
Class C...................... 10.46 0.32 (0.21) (0.32) -- --
Class E...................... 10.50 0.39 (0.21) (0.40) -- --
Class H...................... 10.49 0.31 (0.20) (0.32) -- --
Class L...................... 10.47 0.39 (0.22) (0.39) -- --
Class M...................... 10.48 0.31 (0.20) (0.32) -- --
Class N...................... 10.49 0.31 (0.21) (0.32) -- --
Class Y...................... 10.44 0.40 (0.23) (0.39) -- --
For the Year Ended October
31, 2004
Class A...................... 10.46 0.41 0.24 (0.40) (0.27) --
Class B...................... 10.46 0.33 0.25 (0.32) (0.27) --
Class C...................... 10.48 0.33 0.24 (0.32) (0.27) --
Class E...................... 10.52 0.43 0.25 (0.43) (0.27) --
Class H...................... 10.51 0.37 0.20 (0.32) (0.27) --
Class L...................... 10.49 0.41 0.24 (0.40) (0.27) --
Class M...................... 10.50 0.36 0.21 (0.32) (0.27) --
Class N...................... 10.50 0.33 0.25 (0.32) (0.27) --
Class Y...................... 10.47 0.43 0.24 (0.43) (0.27) --
For the Year Ended October
31, 2003(f)
Class A...................... 10.46 0.38 0.05 (0.38) (0.05) --
Class B...................... 10.47 0.31 0.04 (0.31) (0.05) --
Class C...................... 10.48 0.31 0.05 (0.31) (0.05) --
Class E...................... 10.53 0.41 0.05 (0.42) (0.05) --
Class H...................... 10.52 0.30 0.06 (0.32) (0.05) --
Class L...................... 10.49 0.39 0.05 (0.39) (0.05) --
Class M...................... 10.49 0.31 0.07 (0.32) (0.05) --
Class N...................... 10.51 0.31 0.05 (0.32) (0.05) --
Class Y...................... 10.49 0.40 0.06 (0.43) (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) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE TAX-FREE MINNESOTA FUND
For the Year Ended October
31, 2005(f)
Class A...................... $10.22 1.66% $ 5,547 1.26% 0.85%(g) 3.76% 10%
Class B...................... 10.23 0.91 814 2.02 1.60(g) 3.01 --
Class C...................... 10.25 1.01 418 2.03 1.60(g) 3.02 --
Class E...................... 10.28 1.68 25,770 0.87 0.87(g) 3.72 --
Class H...................... 10.28 1.00 116 1.87 1.60(g) 3.00 --
Class L...................... 10.25 1.62 2,890 1.12 0.90(g) 3.70 --
Class M...................... 10.27 1.00 127 1.87 1.60(g) 2.99 --
Class N...................... 10.27 0.91 197 1.87 1.60(g) 3.00 --
Class Y...................... 10.22 1.66 10 0.90 0.90(g) 3.83 --
For the Year Ended October
31, 2004
Class A...................... 10.44 6.37 4,286 1.27 0.98 3.87 13
Class B...................... 10.45 5.71 645 1.99 1.68 3.16 --
Class C...................... 10.46 5.60 321 1.98 1.69 3.15 --
Class E...................... 10.50 6.62 27,346 0.82 ..82 4.03 --
Class H...................... 10.49 5.61 116 1.82 1.68 3.16 --
Class L...................... 10.47 6.41 2,765 1.07 0.96 3.88 --
Class M...................... 10.48 5.61 206 1.82 1.70 3.14 --
Class N...................... 10.49 5.71 214 1.82 1.68 3.17 --
Class Y...................... 10.44 6.58 1 0.85 0.85 4.07 --
For the Year Ended October
31, 2003(f)
Class A...................... 10.46 4.23 3,242 1.50 1.15 3.58 17
Class B...................... 10.46 3.42 532 2.21 1.85 2.88 --
Class C...................... 10.48 3.51 414 2.09 1.85 2.88 --
Class E...................... 10.52 4.50 29,784 0.83 0.80 3.92 --
Class H...................... 10.51 3.46 155 1.81 1.78 2.89 --
Class L...................... 10.49 4.34 2,922 1.07 1.05 3.67 --
Class M...................... 10.50 3.67 454 1.82 1.80 2.92 --
Class N...................... 10.50 3.47 212 1.83 1.80 2.92 --
Class Y...................... 10.47 4.50 1 0.91 0.80 3.82 --
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 0.65(b) 0.65(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 --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
0.84%, 1.59%, 1.59%, 0.87%, 1.59%, 0.89%, 1.59%, 1.59% and 0.90% for Classes
A, B, C, E, H, L, M, N and Y, respectively.
The accompanying notes are an integral part of these financial statements.
312
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005(f)
Class A...................... $11.22 $0.43 $(0.09) $(0.43) $ -- $--
Class B...................... 11.15 0.35 (0.09) (0.35) -- --
Class C...................... 11.18 0.35 (0.09) (0.35) -- --
Class E...................... 11.21 0.45 (0.10) (0.44) -- --
Class H...................... 11.18 0.35 (0.09) (0.35) -- --
Class L...................... 11.19 0.43 (0.09) (0.43) -- --
Class M...................... 11.18 0.35 (0.09) (0.35) -- --
Class N...................... 11.16 0.35 (0.09) (0.35) -- --
Class Y...................... 11.20 0.45 (0.10) (0.44) -- --
For the Year Ended October
31, 2004
Class A...................... 11.07 0.45 0.32 (0.45) (0.17) --
Class B...................... 11.00 0.37 0.32 (0.37) (0.17) --
Class C...................... 11.02 0.37 0.33 (0.37) (0.17) --
Class E...................... 11.05 0.47 0.33 (0.47) (0.17) --
Class H...................... 11.03 0.46 0.23 (0.37) (0.17) --
Class L...................... 11.04 0.44 0.33 (0.45) (0.17) --
Class M...................... 11.03 0.36 0.33 (0.37) (0.17) --
Class N...................... 11.01 0.37 0.32 (0.37) (0.17) --
Class Y...................... 11.06 0.47 0.32 (0.48) (0.17) --
For the Year Ended October
31, 2003
Class A...................... 11.28 0.41 0.04 (0.41) (0.25) --
Class B...................... 11.21 0.33 0.04 (0.33) (0.25) --
Class C...................... 11.23 0.33 0.04 (0.33) (0.25) --
Class E...................... 11.27 0.45 0.03 (0.45) (0.25) --
Class H...................... 11.24 0.36 0.02 (0.34) (0.25) --
Class L...................... 11.25 0.42 0.04 (0.42) (0.25) --
Class M...................... 11.24 0.34 0.04 (0.34) (0.25) --
Class N...................... 11.22 0.33 0.05 (0.34) (0.25) --
Class Y...................... 11.28 0.45 0.04 (0.46) (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) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
----------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD TAX-FREE NATIONAL
FUND
For the Year Ended October
31, 2005(f)
Class A...................... $11.13 3.10% $46,163 1.26% 1.00%(g) 3.88% 22%
Class B...................... 11.06 2.36 6,889 2.03 1.75(g) 3.13 --
Class C...................... 11.09 2.35 8,496 1.99 1.75(g) 3.13 --
Class E...................... 11.12 3.20 30,993 0.91 0.91(g) 3.97 --
Class H...................... 11.09 2.35 290 1.91 1.75(g) 3.14 --
Class L...................... 11.10 3.06 7,958 1.16 1.05(g) 3.83 --
Class M...................... 11.09 2.35 1,294 1.91 1.75(g) 3.13 --
Class N...................... 11.07 2.36 495 1.91 1.75(g) 3.13 --
Class Y...................... 11.11 3.20 10 0.95 0.95(g) 4.04 --
For the Year Ended October
31, 2004
Class A...................... 11.22 7.10 35,210 1.30 1.08 4.04 18
Class B...................... 11.15 6.39 6,236 2.01 1.78 3.32 --
Class C...................... 11.18 6.47 8,357 1.98 1.78 3.33 --
Class E...................... 11.21 7.45 32,101 0.89 0.89 4.21 --
Class H...................... 11.18 6.37 650 1.89 1.79 3.31 --
Class L...................... 11.19 7.12 7,687 1.15 1.08 4.02 --
Class M...................... 11.18 6.37 1,397 1.90 1.78 3.33 --
Class N...................... 11.16 6.38 547 1.90 1.78 3.32 --
Class Y...................... 11.20 7.36 1 0.91 0.91 4.23 --
For the Year Ended October
31, 2003
Class A...................... 11.07 4.18 21,457 1.61 1.15 3.75 35
Class B...................... 11.00 3.43 6,598 2.33 1.85 3.05 --
Class C...................... 11.02 3.42 7,588 2.21 1.85 3.06 --
Class E...................... 11.05 4.39 33,998 0.92 0.85 4.00 --
Class H...................... 11.03 3.47 1,747 1.92 1.84 2.99 --
Class L...................... 11.04 4.24 7,454 1.18 1.10 3.76 --
Class M...................... 11.03 3.47 1,235 1.92 1.84 3.01 --
Class N...................... 11.01 3.48 607 1.93 1.85 3.01 --
Class Y...................... 11.06 4.53 1 1.17 0.85 4.06 --
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 0.63(b) 0.63(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 --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.01%, 1.75%, 1.75%, 0.91%, 1.75%, 1.05%, 1.75%, 1.75% and 0.98% for Classes
A, B, C, E, H, L, M, N and Y, respectively.
The accompanying notes are an integral part of these financial statements.
313
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 NEW YORK
FUND
For the Year Ended October
31, 2005
Class A...................... $10.42 $0.36 $(0.08) $(0.36) $(0.02) $ --
Class B...................... 10.42 0.28 (0.08) (0.28) (0.02) --
Class C...................... 10.42 0.28 (0.08) (0.28) (0.02) --
For the Year Ended October
31, 2004
Class A...................... 10.15 0.37 0.37 (0.39) (0.08) --
Class B...................... 10.15 0.30 0.37 (0.32) (0.08) --
Class C...................... 10.15 0.30 0.37 (0.32) (0.08) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.00 0.34 0.16 (0.35) -- --
Class B...................... 10.00 0.27 0.16 (0.28) -- --
Class C...................... 10.00 0.27 0.16 (0.28) -- --
THE HARTFORD TOTAL RETURN BOND
FUND
For the Year Ended October
31, 2005
Class A...................... 10.95 0.35 (0.24) (0.40) (0.04) --
Class B...................... 10.90 0.27 (0.24) (0.32) (0.04) --
Class C...................... 10.97 0.29 (0.25) (0.33) (0.04) --
Class Y...................... 11.06 0.40 (0.24) (0.45) (0.04) --
For the Year Ended October
31, 2004
Class A...................... 11.14 0.32 0.21 (0.35) (0.37) --
Class B...................... 11.09 0.24 0.22 (0.28) (0.37) --
Class C...................... 11.12 0.27 0.23 (0.28) (0.37) --
Class Y...................... 11.24 0.39 0.21 (0.41) (0.37) --
For the Year Ended October
31, 2003
Class A...................... 10.78 0.49 0.48 (0.50) (0.11) --
Class B...................... 10.73 0.42 0.47 (0.42) (0.11) --
Class C...................... 10.77 0.42 0.46 (0.42) (0.11) --
Class Y...................... 10.87 0.53 0.50 (0.55) (0.11) --
For the Year Ended October
31, 2002(f)
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) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSET NET ASSETS NET ASSETS NET ASSETS INVESTMENT
VALUE AT AT END OF BEFORE AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD TAX-FREE NEW YORK
FUND
For the Year Ended October
31, 2005
Class A...................... $10.32 2.66% $ 11,202 1.03% 0.85%(g) 3.45% 23%
Class B...................... 10.32 1.90 1,794 1.80 1.60(g) 2.70 --
Class C...................... 10.32 1.90 2,677 1.79 1.60(g) 2.70 --
For the Year Ended October
31, 2004
Class A...................... 10.42 7.52 10,541 1.04 0.91 3.66 24
Class B...................... 10.42 6.76 1,568 1.74 1.61 2.96 --
Class C...................... 10.42 6.76 1,973 1.75 1.62 2.95 --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.15 5.03(d) 8,602 1.63(b) 0.95(b) 3.34(b) 54
Class B...................... 10.15 4.30(d) 1,051 2.38(b) 1.65(b) 2.64(b) --
Class C...................... 10.15 4.30(d) 1,393 2.26(b) 1.65(b) 2.67(b) --
THE HARTFORD TOTAL RETURN BOND
FUND
For the Year Ended October
31, 2005
Class A...................... 10.62 1.00 311,557 1.24 1.20(h) 3.24 195
Class B...................... 10.57 0.25 81,028 2.00 1.95(h) 2.49 --
Class C...................... 10.64 0.34 74,039 1.87 1.87(h) 2.56 --
Class Y...................... 10.73 1.45 188,156 0.73 0.73(h) 3.73 --
For the Year Ended October
31, 2004
Class A...................... 10.95 5.10(i) 298,903 1.27 1.25 2.98 171
Class B...................... 10.90 4.37(i) 91,861 1.97 1.95 2.28 --
Class C...................... 10.97 4.76(i) 89,504 1.86 1.86 2.37 --
Class Y...................... 11.06 5.64 101,360 0.74 0.74 3.48 --
For the Year Ended October
31, 2003
Class A...................... 11.14 9.16 268,655 1.40 1.25 3.39 199
Class B...................... 11.09 8.44 106,077 2.13 1.95 2.70 --
Class C...................... 11.12 8.31 110,214 2.01 1.95 2.71 --
Class Y...................... 11.24 9.68 60,125 0.81 0.80 3.82 --
For the Year Ended October
31, 2002(f)
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 --
</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 calculated using average shares outstanding
method.
(g) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
.84%, 1.59% and 1.59% for Classes A, B and C, respectively.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.20%, 1.95%, 1.87% and .74% for Classes A, B, C and Y, respectively.
(i) Without the inclusion of the Payment from Affiliate as noted in the Notes to
Financial Statements 3.c, the total return would have been 5.08%, 4.35% and
4.57% for Classes A, B and C, respectively. The net asset impact of the
Payment from Affiliate was less than $0.01 for Classes A and B and $0.01 for
Class C.
The accompanying notes are an integral part of these financial statements.
314
- --------------------------------------------------------------------------------
<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 Year Ended October
31, 2005
Class A...................... $9.65 $0.40 $(0.32) $(0.41) $ -- $ --
Class B...................... 9.62 0.32 (0.34) (0.33) -- --
Class C...................... 9.61 0.32 (0.33) (0.33) -- --
Class E...................... 9.64 0.43 (0.33) (0.44) -- --
Class H...................... 9.61 0.35 (0.35) (0.35) -- --
Class L...................... 9.65 0.41 (0.34) (0.41) -- --
Class M...................... 9.61 0.34 (0.33) (0.35) -- --
Class N...................... 9.60 0.33 (0.32) (0.35) -- --
Class Y...................... 9.66 0.41 (0.31) (0.44) -- --
For the Year Ended October
31, 2004
Class A...................... 9.67 0.40 (0.01) (0.41) -- --
Class B...................... 9.64 0.32 @@ (0.34) -- --
Class C...................... 9.63 0.32 @@ (0.34) -- --
Class E...................... 9.66 0.44 (0.02) (0.44) -- --
Class H...................... 9.63 0.35 (0.02) (0.35) -- --
Class L...................... 9.67 0.41 (0.01) (0.42) -- --
Class M...................... 9.63 0.34 (0.01) (0.35) -- --
Class N...................... 9.63 0.34 (0.02) (0.35) -- --
Class Y...................... 9.68 0.44 (0.02) (0.44) -- --
For the Year Ended October
31, 2003
Class A...................... 9.88 0.41 (0.21) (0.41) -- --
Class B...................... 9.84 0.33 (0.19) (0.34) -- --
Class C...................... 9.84 0.33 (0.20) (0.34) -- --
Class E...................... 9.87 0.45 (0.20) (0.46) -- --
Class H...................... 9.83 0.35 (0.19) (0.36) -- --
Class L...................... 9.87 0.42 (0.19) (0.43) -- --
Class M...................... 9.84 0.35 (0.20) (0.36) -- --
Class N...................... 9.84 0.35 (0.20) (0.36) -- --
Class Y...................... 9.89 0.45 (0.20) (0.46) -- --
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) -- --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
---------------------------------------------------------------------------------------------------
RATIO OF RATIO OF
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
END OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
For the Year Ended October
31, 2005
Class A...................... $9.32 0.79% $ 47,252 1.38% 1.15%(f) 4.17% 108%
Class B...................... 9.27 (0.17) 21,268 2.17 1.90(f) 3.41 --
Class C...................... 9.27 (0.07) 9,631 2.05 1.90(f) 3.41 --
Class E...................... 9.30 1.02 105,381 0.83 0.83(f) 4.49 --
Class H...................... 9.26 (0.07) 2,720 1.82 1.82(f) 3.48 --
Class L...................... 9.31 0.77 34,880 1.08 1.08(f) 4.24 --
Class M...................... 9.27 0.04 2,756 1.82 1.82(f) 3.48 --
Class N...................... 9.26 0.04 844 1.82 1.82(f) 3.49 --
Class Y...................... 9.32 1.04 9,244 0.86 0.86(f) 4.52 --
For the Year Ended October
31, 2004
Class A...................... 9.65 4.08 53,401 1.38 1.20 4.09 110
Class B...................... 9.62 3.37 26,218 2.11 1.90 3.39 --
Class C...................... 9.61 3.37 13,926 2.00 1.90 3.38 --
Class E...................... 9.64 4.50 119,923 0.79 0.79 4.50 --
Class H...................... 9.61 3.48 3,914 1.79 1.79 3.49 --
Class L...................... 9.65 4.24 38,613 1.04 1.04 4.26 --
Class M...................... 9.61 3.47 3,697 1.79 1.79 3.50 --
Class N...................... 9.60 3.37 1,056 1.79 1.79 3.49 --
Class Y...................... 9.66 4.48 1 0.83 0.83 4.51 --
For the Year Ended October
31, 2003
Class A...................... 9.67 2.06 65,337 1.48 1.20 4.11 108
Class B...................... 9.64 1.45 38,210 2.21 1.90 3.41 --
Class C...................... 9.63 1.34 26,626 2.07 1.90 3.43 --
Class E...................... 9.66 2.49 135,954 0.81 0.81 4.49 --
Class H...................... 9.63 1.57 6,283 1.80 1.80 3.50 --
Class L...................... 9.67 2.32 43,202 1.06 1.06 4.24 --
Class M...................... 9.63 1.47 4,588 1.80 1.80 3.50 --
Class N...................... 9.63 1.47 1,388 1.80 1.80 3.49 --
Class Y...................... 9.68 2.51 1 0.87 0.80 4.50 --
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(b) 32
Class H...................... 9.64 4.31(d) 10,770 1.79(b) 1.79(b) 4.25(b) --
Class L...................... 9.67 4.50(d) 52,579 1.04(b) 1.04(b) 5.01(b) --
Class M...................... 9.64 4.32(d) 6,582 1.79(b) 1.79(b) 4.25(b) --
Class N...................... 9.64 4.31(d) 2,275 1.79(b) 1.79(b) 4.25(b) --
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 --
</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) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.15%, 1.90%, 1.90%, 0.83%, 1.82%, 1.08%, 1.82%, 1.82% and 0.86% for Classes
A, B, E, H, I, M, N and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
315
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 FUND
For the Year Ended October
31, 2005
Class A...................... $ 9.71 $ 0.08 $ 1.04 $(0.04) $ -- $ --
Class B...................... 9.60 @@ 1.02 -- -- --
Class C...................... 9.60 @@ 1.02 -- -- --
Class Y...................... 9.71 0.12 1.05 (0.09) -- --
For the Year Ended October
31, 2004(f)
Class A...................... 8.92 0.07 0.79 (0.07) -- --
Class B...................... 8.83 0.01 0.78 (0.02) -- --
Class C...................... 8.83 0.01 0.78 (0.02) -- --
Class Y...................... 8.95 0.10 0.77 (0.11) -- --
For the Year Ended October
31, 2003(f)
Class A...................... 7.59 0.08 1.31 (0.06) -- --
Class B...................... 7.51 0.03 1.29 -- -- --
Class C...................... 7.51 0.03 1.29 -- -- --
Class Y...................... 7.64 0.16 1.25 (0.10) -- --
For the Year Ended October
31, 2002(f)
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
EXPENSES EXPENSES RATIO OF
TO AVERAGE TO AVERAGE NET
NET ASSETS NET ASSETS NET ASSETS INVESTMENT
NET ASSET AT END OF BEFORE AFTER INCOME PORTFOLIO
VALUE AT END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
------------ --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD VALUE FUND
For the Year Ended October
31, 2005
Class A...................... $10.79 11.50% $63,417 1.41% 1.40%(f) 0.76% 29%
Class B...................... 10.62 10.62 10,091 2.34 2.15(f) 0.01 --
Class C...................... 10.62 10.62 10,238 2.19 2.15(f) 0.02 --
Class Y...................... 10.79 12.06 60,218 0.93 0.93(f) 1.19 --
For the Year Ended October
31, 2004(f)
Class A...................... 9.71 9.70 56,845 1.46 1.45(f) 0.76 34
Class B...................... 9.60 8.91 8,948 2.36 2.15(f) 0.06 --
Class C...................... 9.60 8.91 10,838 2.17 2.15(f) 0.06 --
Class Y...................... 9.71 9.76 21,373 0.91 0.91(f) 1.32 --
For the Year Ended October
31, 2003(f)
Class A...................... 8.92 18.43 42,101 1.57 1.45 1.02 35
Class B...................... 8.83 17.58 7,305 2.30 2.15 0.32 --
Class C...................... 8.83 17.58 10,231 2.18 2.15 0.32 --
Class Y...................... 8.95 18.66 27 1.00 1.00 1.46 --
For the Year Ended October
31, 2002(f)
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) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31, 2005
had the fees paid indirectly been included, the ratio would have been 1.39%,
2.14%, 2.14% and 0.92% for Classes A, B, C and Y, respectively. For the year
ended October 31, 2004, had the fees paid indirectly been included, the
ratio would have been 1.44%, 2.14%, 2.14% and 0.90% for Classes A, B, C and
Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
316
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(a) --
------------------------------------------------------------------------------------
NET REALIZED DISTRIBUTIONS
NET ASSET NET AND 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 Year Ended October
31, 2005
Class A...................... $14.06 $ 0.03 $ 1.47 $ -- $ -- $ --
Class B...................... 13.24 (0.05) 1.37 -- -- --
Class C...................... 13.25 (0.05) 1.36 -- -- --
Class H...................... 13.25 (0.05) 1.38 -- -- --
Class L...................... 14.06 0.07 1.45 -- -- --
Class M...................... 13.24 (0.05) 1.38 -- -- --
Class N...................... 13.26 (0.05) 1.37 -- -- --
Class Y...................... 14.17 0.05 1.52 -- -- --
For the Year Ended October
31, 2004
Class A...................... 12.15 0.01 1.90 -- -- --
Class B...................... 11.53 (0.06) 1.77 -- -- --
Class C...................... 11.53 (0.06) 1.78 -- -- --
Class H...................... 11.54 (0.10) 1.81 -- -- --
Class L...................... 12.15 @@ 1.91 -- -- --
Class M...................... 11.53 (0.09) 1.80 -- -- --
Class N...................... 11.54 (0.09) 1.81 -- -- --
Class Y...................... 12.22 0.01 1.94 -- -- --
For the Year Ended October
31, 2003
Class A...................... 9.26 (0.01) 2.90 -- -- --
Class B...................... 8.84 (0.04) 2.73 -- -- --
Class C...................... 8.85 (0.04) 2.72 -- -- --
Class H...................... 8.85 (0.08) 2.77 -- -- --
Class L...................... 9.26 (0.01) 2.90 -- -- --
Class M...................... 8.85 (0.08) 2.76 -- -- --
Class N...................... 8.85 (0.08) 2.77 -- -- --
Class Y...................... 9.30 0.01 2.91 -- -- --
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) --
<Caption>
-- RATIOS AND SUPPLEMENTAL DATA --
-----------------------------------------------------------------------------------------------
RATIO OF RATIO OF RATIO OF
EXPENSES TO EXPENSES TO NET
NET ASSET NET ASSETS AVERAGE NET AVERAGE NET INVESTMENT
VALUE AT AT END OF ASSETS BEFORE ASSETS AFTER INCOME PORTFOLIO
END TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(c) (000's) REIMBURSEMENTS REIMBURSEMENTS NET ASSETS RATE(e)
--------- --------- ---------- -------------- -------------- ---------- ---------
THE HARTFORD VALUE
OPPORTUNITIES FUND
For the Year Ended October
31, 2005
Class A...................... $15.56 10.67% $66,368 1.62% 1.40%(h) 0.27% 38%
Class B...................... 14.56 9.97 13,560 2.51 2.15(h) (0.47) --
Class C...................... 14.56 9.89 13,258 2.33 2.15(h) (0.47) --
Class H...................... 14.58 10.04 4,645 2.06 2.06(h) (0.27) --
Class L...................... 15.58 10.81 27,674 1.30 1.30(h) 0.45 --
Class M...................... 14.57 10.05 7,443 2.06 2.06(h) (0.28) --
Class N...................... 14.58 9.96 2,004 2.06 2.06(h) (0.29) --
Class Y...................... 15.74 11.08 95,974 1.07 1.07(h) 0.55 --
For the Year Ended October
31, 2004
Class A...................... 14.06 15.72 24,601 1.82 1.45(h) 0.08 52
Class B...................... 13.24 14.83 5,709 2.70 2.15(h) (0.64) --
Class C...................... 13.25 14.92 5,627 2.47 2.15(h) (0.64) --
Class H...................... 13.25 14.82 5,815 2.17 2.15(h) (0.71) --
Class L...................... 14.06 15.72 25,687 1.42 1.42(h) 0.04 --
Class M...................... 13.24 14.83 8,139 2.17 2.15(h) (0.70) --
Class N...................... 13.26 14.90 2,143 2.17 2.15(h) (0.70) --
Class Y...................... 14.17 15.96 10,101 1.16 1.16(h) 0.34 --
For the Year Ended October
31, 2003
Class A...................... 12.15 31.21 5,917 1.92 1.45 (0.10) 57
Class B...................... 11.53 30.43 1,932 2.63 2.15 (0.80) --
Class C...................... 11.53 30.28 1,613 2.51 2.15 (0.81) --
Class H...................... 11.54 30.40 6,526 2.26 2.15 (0.82) --
Class L...................... 12.15 31.21 22,701 1.51 1.45 (0.11) --
Class M...................... 11.53 30.28 8,015 2.26 2.15 (0.82) --
Class N...................... 11.54 30.40 1,989 2.26 2.15 (0.82) --
Class Y...................... 12.22 31.40 1 1.33 1.25 0.08 --
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) --
</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 calculated using average shares outstanding
method.
(g) Expense ratios do not include expenses of the underlying funds.
(h) The ratio of expenses to average net assets excludes fees paid indirectly
but includes waivers and reimbursements. For the year ended October 31,
2005, had the fees paid indirectly been included, the ratio would have been
1.39%, 2.14%, 2.14%, 2.05%, 1.30%, 2.05%, 2.05% and 1.06% for Classes A, B,
C, H, L, M, N and Y, respectively. For the year ended October 31, 2004, had
the fees paid indirectly been included, the ratio would have been 1.44%,
2.15%, 2.15%, 2.14%, 1.41%, 2.14%, 2.14% and 1.15% for Classes A, B, C, H,
L, M, N and Y, respectively.
@@ The amount per share or percentage rounds to zero.
The accompanying notes are an integral part of these financial statements.
317
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
THE BOARD OF DIRECTORS AND SHAREHOLDERS OF THE HARTFORD MUTUAL FUNDS, INC. AND
THE HARTFORD MUTUAL FUNDS, II. INC.
- --------------------------------------------------------------------------------
We have audited the accompanying statements of assets and liabilities, including
the schedules of investments, of The Hartford Advisers Fund, The Hartford
Aggressive Growth Allocation Fund, The Hartford Balanced Allocation Fund, The
Hartford Capital Appreciation Fund, The Hartford Capital Appreciation II Fund,
The Hartford Conservative Allocation Fund, The Hartford Disciplined Equity Fund,
The Hartford Dividend and Growth Fund, The Hartford Equity Income Fund, The
Hartford Floating Rate 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 Allocation Fund, The Hartford Growth Fund,
The Hartford Growth Opportunities Fund, The Hartford High Yield Fund, The
Hartford Income Allocation 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 Retirement Income Fund, The Hartford
Select MidCap Growth Fund, The Hartford Select MidCap Value Fund, The Hartford
Select SmallCap Growth Fund, The Hartford Short Duration Fund, The Hartford
Small Company Fund, The Hartford SmallCap Growth Fund, The Hartford Stock Fund,
The Hartford Target Retirement 2010 Fund, The Hartford Target Retirement 2020
Fund, The Hartford Target Retirement 2030 Fund, The Hartford 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 (within The Hartford Mutual Funds, Inc. and
The Hartford Mutual Funds II, Inc.) (the "Funds"), as of October 31, 2005, and
the related statements of operations, statements of changes in net assets,
statement of cash flows of The Hartford Floating Rate Fund, and financial
highlights for each of the periods indicated therein, except as noted below.
These financial statements and financial highlights are the responsibility of
the Funds' management. Our responsibility is to express an opinion on these
financial statements and financial highlights based on our audits. The financial
highlights for the periods presented through October 31, 2001, were audited by
other auditors whose reports, dated December 6, 2001 and December 7, 2001
expressed unqualified opinions on those financial highlights.
We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements and financial highlights are free of material misstatement. We were
not engaged to perform an audit of the Funds' internal control over financial
reporting. Our audits included consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Funds' internal control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements and financial highlights, assessing the accounting principles used
and significant estimates made by management, and evaluating the overall
financial statement presentation. Our procedures included confirmation of
securities owned as of October 31, 2005, by correspondence with the custodian
and brokers or by other appropriate auditing procedures where replies from
brokers were not received. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements and financial highlights audited by us
as referred to above present fairly, in all material respects, the financial
position of each of the Funds listed above constituting The Hartford Mutual
Funds, Inc. and The Hartford Mutual Funds II, Inc. at October 31, 2005, the
results of their operations, and cash flows of The Hartford Floating Rate Fund,
the changes in their net assets, and the financial highlights for each of the
periods indicated herein, in conformity with U.S. generally accepted accounting
principles.
ERNST & YOUNG LLC
Minneapolis, Minnesota
December 9, 2005
318
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
DIRECTORS AND OFFICERS (UNAUDITED)
- --------------------------------------------------------------------------------
The Board of Directors elects officers who are responsible for the day-to-day
operations of the fund and who execute policies formulated by the Directors.
Each director serves until his or her death, resignation, or retirement or until
the next annual meeting of shareholders is held or until his or her successor is
elected and qualifies.
Directors and officers who are employed by or who have a substantial financial
interest in The Hartford are considered "interested" persons of the funds
pursuant to the Investment Company Act of 1940. Each officer and three of the
fund's directors, as noted in the chart below, are "interested" persons of the
funds. Except for Mr. Znamierowski each director serves as a director for The
Hartford Mutual Funds, Inc., The Hartford Mutual Funds II, Inc., The Hartford
Income Shares Fund, Inc., Hartford Series Fund, Inc. and Hartford HLS Series
Fund II, Inc., which collectively consist of 85 funds. Mr. Znamierowski oversees
84 funds and serves as a director only for The Hartford Mutual Funds, Inc., The
Hartford Mutual Funds II, Inc., Hartford Series Fund, Inc. and Hartford HLS
Series Fund II, Inc. Correspondence may be sent to directors and officers c/o
Hartford Mutual Funds, P.O. Box 2999, Hartford, CT 06104-2999, except that
correspondence to Ms. Fagely and Ms. Settimi may be sent to 500 Bielenberg Dr.,
Woodbury, MN 55125.
The table below sets forth, for each director and officer, his or her name, age,
current position with the funds, date first elected or appointed to The Hartford
Mutual Funds, Inc. ("MF") and The Hartford Mutual Funds II, Inc. ("MF2"),
principal occupation, and, for directors, other directorships held. The funds'
statement of additional information contains further information on the
directors and is available free of charge by calling 1-888-843-7824 or writing
to Hartford Mutual Funds, P.O. Box 64387, St. Paul, MN 55164-0387.
Information on the aggregate remuneration paid to the directors by each Fund can
be found in the Statement of Operations herein. The Funds do not pay salaries or
compensation to any of their officers or directors who are employed by The
Hartford.
NON-INTERESTED DIRECTORS
LYNN S. BIRDSONG (age 59) Director since 2003, Chairman of the Litigation
Committee; Co-Chairman of the Investment Committee
Since 1981, Mr. Birdsong has been a partner in Birdsong Company, an
advertising specialty firm. Since 2003, Mr. Birdsong has been an
independent Director of The Japan Fund. From 2003 to March 2005, Mr.
Birdsong was an independent Director of the Atlantic Whitehall Funds. From
1979-2002, Mr. Birdsong was a managing director of Zurich Scudder
Investments, an investment management firm. During his employment with
Scudder, Mr. Birdsong was an interested Director of The Japan Fund.
ROBERT M. GAVIN, JR. (age 65) Director since 2002 (MF) and 1986 (MF2), Chairman
of the Board since 2004
Dr. Gavin is an educational consultant. Prior to September 1, 2001, he was
President of Cranbrook Education Community; and prior to July 1996, he was
President of Macalester College, St. Paul, Minnesota.
DUANE E. HILL (age 60) Director since 2001 (MF) and 2002 (MF2), Chairman of the
Nominating Committee
Mr. Hill is Partner of TSG Ventures L.P., a private equity investment
company that invests primarily in minority-owned small businesses. Mr. Hill
is a former Partner of TSG Capital Group, a private equity investment firm
that serves as sponsor and lead investor in leveraged buyouts of middle
market companies.
SANDRA S. JAFFEE (age 64) Director* since 2005
Ms. Jaffee is Chief Executive Officer of Searchspace Group, a leading
provider of compliance/regulatory technology to financial institutions. Ms.
Jaffee served as an Entrepreneur in Residence with Warburg Pincus, a
private equity firm, from August 2004 to August 2005. From September 1995
to July 2004, Ms. Jaffee served as Executive Vice President at Citigroup,
where she was President and Chief Executive Officer of Citibank's Global
Securities Services (1995-2003).
* Ms. Jaffee is a consultant for a controlling shareholder of Institutional
Shareholder Services, Inc., an unaffiliated third party corporate
governance research service company ("ISS"), and serves as a director of
ISS and as a member of the Executive Committee of ISS' Board of
Directors. From time to time, ISS may provide in-depth analyses of
shareholder meeting agendas, vote recommendations, record-keeping or vote
disclosure services to certain of the sub-advisers.
WILLIAM P. JOHNSTON (age 61) Director since 2005, Chairman of the Compliance
Committee
Mr. Johnston joined the Board of Directors of Renal Care Group, Inc. in
November 2002 and has served as Chairman of the Board since March 2003.
From August 2001 until December 2002, Mr. Johnston was Managing Director of
SunTrust Robinson Humphrey, the investment banking division of SunTrust
Banks, Inc. From 1998 through 2001, Mr. Johnston was Vice Chairman of the
investment banking affiliate of SunTrust Banks, Inc., where he also served
as Chief Executive Officer from 1998 through April 2000.
PHILLIP O. PETERSON (age 61) Director since 2002 (MF) and 2000 (MF2), Chairman
of the Audit Committee
Mr. Peterson is a mutual fund industry consultant. He was a partner of KPMG
LLP until July 1999. From January 2004 to April 2005, Mr. Peterson served
as Independent President of the Strong Mutual Funds.
LEMMA W. SENBET (age 59) Director since 2005
Dr. Senbet is the William E. Mayer Chair Professor of Finance and Chair of
the Finance Department at the University of Maryland, Robert H. Smith
School of Business, which he joined in September 1990. Previously, he was a
chaired professor of finance at the University of Wisconsin-Madison. In
addition, Dr. Senbet previously served as an independent Director of the
Fortis Funds from March 2000 until July 2002.
319
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
DIRECTORS AND OFFICERS -- (UNAUDITED) (CONTINUED)
- --------------------------------------------------------------------------------
INTERESTED DIRECTORS AND OFFICERS
THOMAS M. MARRA (age 47) Director since 2002
Mr. Marra is President and Chief Operating Officer of Hartford Life, Inc.
He is also a member of the Board of Directors and a member of the Office of
the 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. He was named COO in 2000, and served as
Director of Hartford Life's Investment Products Division from 1998 to 2000.
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 (age 66) Director since 2002, Co-Chairman of the Investment
Committee
Mr. Smith served as Vice Chairman of The Hartford from February 1997 to
January 2002, as President and Chief Executive Officer of Hartford Life,
Inc. from February 1997 to January 2002, and as President and Chief
Operating Officer of The Hartford Life Insurance Companies from January
1989 to January 2002. Mr. Smith has served as a Director of White Mountains
Insurance Group since November 2003.
DAVID M. ZNAMIEROWSKI (age 45) Director since 1999 (MF) and 2005 (MF2) President
since 2001
Mr. Znamierowski currently serves as President of Hartford Investment
Management Company ("Hartford Investment Management"), and as Executive
Vice President and Chief Investment Officer for The Hartford, Hartford
Life, Inc. and Hartford Life Insurance Company. Mr. Znamierowski is also a
Managing Member, Executive Vice President and Chief Investment Officer of
HIFSCO and HL Advisors.
OTHER OFFICERS
WILLIAM H. DAVISON, JR. (age 48) Vice President since 2002
Mr. Davison is a Managing Director and Director of the Funds Management
Group of Hartford Investment Management. Mr. Davison is also a Senior Vice
President of HIFSCO and HL Advisors.
TAMARA L. FAGELY (age 47) Vice President, Controller and Treasurer since 1993
Ms. Fagely has been Vice President of HASCO since 1998. Currently, Ms.
Fagely is a Vice President of Hartford Life. She served as Assistant Vice
President of Hartford Life from December 2001 through March 2005.
MARY JANE FORTIN (age 41) Vice President since 2003
Ms. Fortin is Senior Vice President and Director of Mutual Funds and 529
Programs for Hartford Life. She also serves as Vice President of HL
Advisors and HIFSCO. Previously, Ms. Fortin served as Senior Vice President
and Chief Accounting Officer of Hartford Life.
GEORGE R. JAY (age 53) Vice President, 2001, Chief Compliance Officer since 2004
Mr. Jay serves as Assistant Vice President of Hartford Life. He also serves
as Chief Broker/Dealer Compliance for HIFSCO.
STEPHEN T. JOYCE (age 46) Vice President since 2001
Mr. Joyce currently serves as Senior Vice President and Director of the
Institutional Products Group for Hartford Life Insurance Company. Mr. Joyce
is also Senior Vice President of HL Advisors. Previously, he served as Vice
President (1997-1999) and Assistant Vice President (1994-1997) of Hartford
Life Insurance Company.
EDWARD P. MACDONALD (age 38) Vice President and Secretary since 2005
Mr. Macdonald serves as Assistant General Counsel of The Hartford. Prior to
joining The Hartford in 2005, Mr. Macdonald was Chief Counsel, Investment
Management for Prudential Financial (formerly American Skandia Investment
Services, Inc.). He joined Prudential in April 1999.
DENISE A. SETTIMI (age 45) Vice President since 2005
Ms. Settimi currently serves as Operations Officer of HASCO. Previously,
Ms. Settimi was with American Express Financial Advisors, where she was
Director of Retirement Plan Services from 1997 to 2003.
JOHN C. WALTERS (age 43) Vice President since 2001
Mr. Walters serves as Executive Vice President and Director of the
Investment Products Division of Hartford Life Insurance Company. Mr.
Walters is also a Managing Member and Executive Vice President of HIFSCO
and HL Advisors. Previously, Mr. Walters was with First Union Securities.
HOW TO OBTAIN A COPY OF THE FUNDS' PROXY VOTING POLICIES AND PROXY VOTING
RECORDS
A description of the policies and procedures that the Funds use to determine how
to vote proxies relating to portfolio securities and a record of how the Funds
voted any proxies for the twelve month period ended June 30, 2005 is available
(1) without charge, upon request, by calling 888-843-7824 and (2) on the
Securities and Exchange Commission's website at http://www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS INFORMATION
The Funds file a complete schedule of portfolio holdings with the Commission for
the first and third quarters of each fiscal year on Form N-Q. The Funds Forms
N-Q will be available (1) without charge, upon request, by calling 888-843-7824
and (2) on the Securities and Exchange Commission's website at www.sec.gov. The
Forms N-Q may be reviewed and copied at the Commission's Public Reference Room
in Washington, DC. Information on the operation of the Public Reference Room may
be obtained by calling 1-800-SEC-0330.
320
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FEDERAL INCOME TAX INFORMATION (UNAUDITED)
- --------------------------------------------------------------------------------
The information set forth below is for the fund's fiscal year as required by
federal tax law. Shareholders, however, must report distributions on a calendar
year basis for income tax purposes which may include distributions of two fiscal
years of the fund. Accordingly, the information needed by shareholders for
income tax purposes will be sent to them in early 2006. Shareholders may wish to
consult a tax advisor on how to report distributions for state and local
purposes.
The income received from federal obligations is as follows:
<Table>
<Caption>
OTHER
DIRECT
FEDERAL OTHER
U.S. TREASURY* OBLIGATIONS* SECURITIES* TOTAL* DRD** QDI***
-------------- ------------ ----------- ------ ------ ------
Advisers Fund........................................ 7.26% 0.29% 92.45% 100.00% 96.87% 98.47%
Aggressive Growth Allocation Fund.................... -- -- -- -- 100.00% 100.00%
Balanced Allocation Fund............................. -- -- -- -- 18.85% 18.85%
Conservative Allocation Fund......................... -- -- -- -- 7.13% 7.13%
Disciplined Equity Fund.............................. -- -- -- -- 100.00% 100.00%
Dividend and Growth Fund............................. -- -- -- -- 100.00% 100.00%
Equity Income Fund................................... -- -- -- -- 100.00% 100.00%
Focus Fund........................................... -- -- -- -- 100.00% 100.00%
Global Communications Fund........................... -- -- -- -- 2.44% 23.61%
Global Financial Services Fund....................... -- -- -- -- 100.00% 80.98%
Growth Allocation Fund............................... -- -- -- -- 100.00% 100.00%
Income Allocation Fund............................... 23.40% 0.23% 76.37% 100.00%
Income Fund.......................................... 17.07% -- 82.93% 100.00% -- --
Inflation Plus Fund.................................. 96.44% -- 3.56% 100.00% -- --
International Small Company Fund..................... -- -- -- -- -- 14.41%
Short Duration Fund.................................. 24.16% 0.37% 75.47% 100.00% -- --
Stock Fund........................................... -- -- -- -- 100.00% 100.00%
Total Return Bond Fund............................... 5.35% 0.60% 94.05% 100.00% -- --
U.S. Government Securities Fund...................... 12.67% 2.77% 84.56% 100.00% -- --
Value Fund........................................... -- -- -- -- 100.00% 100.00%
</Table>
* The income received from federal obligations.
** Income distributions, taxable as dividend income which qualify for deduction
by corporations.
*** For the fiscal year ended October 31, 2005, certain dividends paid by the
Funds may be subject to a maximum tax rate of 15%, as provided for by the
Jobs and Growth Tax Relief Reconciliation Act of 2003. The Funds intend to
designate ordinary distributions declared as taxed at a maximum rate of 15%.
<Table>
<Caption>
FOREIGN TAX CREDIT PASS-THROUGH
- -------------------------------
The following Funds intend to make an election under the Internal
Revenue Code Section 853 to pass-through foreign taxes paid by the
Funds to their shareholders as follows:
Global Leaders Fund................................................... $694
International Capital Appreciation Fund............................... 420
International Opportunities Fund...................................... 313
International Small Company Fund...................................... 174
</Table>
Complete information will be computed and reported in conjunction with your 2005
Form 1099-DIV.
Detailed below are the per share distributions made for the fiscal year ended
October 31, 2005.
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS E CLASS H CLASS L CLASS M CLASS N CLASS Y CLASS Z
- ---- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
ADVISERS FUND
Total Income
Distributions... 0.287 0.172 0.182 0.356
----- ----- ----- -----
AGGRESSIVE GROWTH
ALLOCATION FUND
Income.............. 0.020 0.002 0.002
----- ----- -----
BALANCED ALLOCATION
FUND
Total Income
Distributions... 0.117 0.044 0.044
----- ----- -----
CONSERVATIVE
ALLOCATION FUND
Total Income
Distributions... 0.207 0.136 0.136
----- ----- -----
DISCIPLINED EQUITY
FUND
Income.............. 0.081 0.006 0.011 0.143
----- ----- ----- -----
</Table>
321
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FEDERAL INCOME TAX INFORMATION (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS E CLASS H CLASS L CLASS M CLASS N CLASS Y CLASS Z
- ---- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
DIVIDEND AND GROWTH
FUND
Long-Term Capital
Gain.............. 0.185 0.185 0.185 0.185
----- ----- ----- -----
Total Income
Distributions... 0.245 0.089 0.113 0.327
----- ----- ----- -----
EQUITY INCOME FUND
Short-Term Capital
Gain.............. 0.024 0.024 0.024 0.024
----- ----- ----- -----
Total Income
Distributions... 0.259 0.158 0.176 0.307
----- ----- ----- -----
FLOATING RATE FUND
Total Income
Distributions... 0.215 0.185 0.186 0.228
----- ----- ----- -----
FOCUS FUND
Income.............. 0.005 0.000 0.000 0.032
----- ----- ----- -----
GLOBAL
COMMUNICATIONS
FUND
Income.............. 0.054 0.016 0.016 0.078
----- ----- ----- -----
GLOBAL FINANCIAL
SERVICES FUND
Income.............. 0.129 0.056 0.056 0.176
----- ----- ----- -----
GLOBAL HEALTH FUND
Long-Term Capital
Gain.............. 0.771 0.771 0.771 0.771
----- ----- ----- -----
GROWTH ALLOCATION
FUND
Income.............. 0.034 0.015 0.015
----- ----- -----
HIGH YIELD FUND
Total Income
Distributions... 0.500 0.439 0.447 0.537
----- ----- ----- -----
INCOME ALLOCATION
FUND
Total Income
Distributions... 0.362 0.291 0.291
----- ----- -----
INCOME FUND
Long-Term Capital
Gain.............. 0.042 0.042 0.042 0.042
----- ----- ----- -----
Total Income
Distributions... 0.513 0.435 0.436 0.541
----- ----- ----- -----
INFLATION PLUS FUND
Short-Term Capital
Gain.............. 0.027 0.027 0.027 0.027
Long-Term Capital
Gain.............. 0.062 0.062 0.062 0.062
----- ----- ----- -----
Total Capital Gain
Distributions... 0.089 0.089 0.089 0.089
----- ----- ----- -----
Total Income
Distributions... 0.418 0.336 0.336 0.449
----- ----- ----- -----
INTERNATIONAL SMALL
COMPANY FUND
Short-Term Capital
Gain.............. 1.357 1.357 1.357 1.357
Long-Term Capital
Gain.............. 0.123 0.123 0.123 0.123
----- ----- ----- -----
Total Capital Gain
Distributions... 1.480 1.480 1.480 1.480
----- ----- ----- -----
Income.............. 0.037
-----
MIDCAP FUND
Long-Term Capital
Gain.............. 0.476 0.476 0.476 0.476
----- ----- ----- -----
MIDCAP VALUE FUND
Short-Term Capital
Gain.............. 0.327 0.327 0.327 0.327
Long-Term Capital
Gain.............. 0.643 0.643 0.643 0.643
----- ----- ----- -----
Total Capital Gain
Distributions... 0.970 0.970 0.970 0.970
----- ----- ----- -----
RETIREMENT INCOME
FUND
Total Income
Distributions..... 0.008 0.001 0.001 0.010
----- ----- ----- -----
SHORT DURATION FUND
Total Income
Distributions... 0.321 0.247 0.247 0.347
----- ----- ----- -----
STOCK FUND
Income.............. 0.103 0.209
----- -----
TAX-FREE CALIFORNIA
FUND
Total Income
Distributions... 0.377 0.299 0.299
----- ----- -----
</Table>
322
- --------------------------------------------------------------------------------
<Table>
<Caption>
FUND CLASS A CLASS B CLASS C CLASS E CLASS H CLASS L CLASS M CLASS N CLASS Y CLASS Z
- ---- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------
TAX-FREE MINNESOTA
FUND
Total Income
Distributions... 0.393 0.315 0.315 0.395 0.316 0.388 0.316 0.316 0.392
----- ----- ----- ----- ----- ----- ----- ----- -----
TAX-FREE NATIONAL
FUND
Total Income
Distributions... 0.434 0.351 0.351 0.445 0.350 0.428 0.350 0.350 0.443
----- ----- ----- ----- ----- ----- ----- ----- -----
TAX-FREE NEW YORK
FUND
Short-Term Capital
Gain.............. 0.016 0.016 0.016
----- ----- -----
Total Income
Distributions... 0.358 0.280 0.280
----- ----- -----
TOTAL RETURN BOND
FUND
Short-Term Capital
Gain.............. 0.024 0.024 0.024 0.024
Long-Term Capital
Gain.............. 0.018 0.018 0.018 0.018
----- ----- ----- -----
Total Capital Gain
Distributions... 0.042 0.042 0.042 0.042
----- ----- ----- -----
Total Income
Distributions... 0.397 0.317 0.326 0.448
----- ----- ----- -----
U.S. GOVERNMENT
SECURITIES FUND
Total Income
Distributions... 0.406 0.335 0.335 0.438 0.345 0.414 0.345 0.345 0.440
----- ----- ----- ----- ----- ----- ----- ----- -----
VALUE FUND
Income.............. 0.035 0.087
----- -----
</Table>
323
HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE (UNAUDITED)
- --------------------------------------------------------------------------------
YOUR FUND'S EXPENSES
As a shareholder of the Fund, you incur two types of costs: (1) transaction
costs, including sales charges (loads) on purchase payments and contingent
deferred sales charges (CDSC) (2) ongoing costs including management fees;
distribution fees; and other fund expenses. This example is intended to help you
understand your ongoing costs (in dollars) of investing in the Fund and to
compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the
period and held for the period of April 30, 2005 through October 31, 2005.
ACTUAL EXPENSES
The first line of the table below provides information about actual account
values and actual expenses. You may use the information in this line, together
with the amount you invested, to estimate the expenses that you paid over the
period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6, then multiply the result by the number in
the first line under the heading entitled "Expenses Paid During Period" to
estimate the expenses you paid on your account during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second line of the table below provides information about hypothetical
account values and hypothetical expenses based on the Fund's actual expense
ratio and an assumed rate of return of 5% per year before expenses, which is not
the Fund's actual return. The hypothetical account values and expenses may not
be used to estimate the actual ending account balance or expenses you paid for
the period. You may use this information to compare the ongoing costs of
investing in the Fund and other funds. To do so, compare this 5% hypothetical
example with the 5% hypothetical examples that appear in the shareholder reports
of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs, such as sales
charges (loads) and CDSC. Therefore, the second line of the table is useful in
comparing ongoing costs only, and will not help you determine the relative total
costs of owning different funds. In addition, if these transactional costs were
included, your costs would be higher.
Expenses are equal to the Fund's annualized expense ratios multiplied by average
account value over the period, multiplied by 184/365 (to reflect the one-half
year period).
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD ADVISERS FUND
Class A.................... $1,000.00 $ 996.90 $ 5.98
Class B.................... $1,000.00 $ 994.90 $ 9.95
Class C.................... $1,000.00 $ 995.80 $ 9.51
Class Y.................... $1,000.00 $ 998.10 $ 3.70
THE HARTFORD AGGRESSIVE
GROWTH ALLOCATION FUND
Class A.................... $1,000.00 $ 983.70 $ 3.39
Class B.................... $1,000.00 $ 982.70 $ 6.64
Class C.................... $1,000.00 $ 982.70 $ 6.65
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD ADVISERS FUND
Class A.................... $1,000.00 $1,019.21 $ 6.05 1.19% 184 365
Class B.................... $1,000.00 $1,015.23 $10.05 1.98% 184 365
Class C.................... $1,000.00 $1,015.68 $ 9.60 1.89% 184 365
Class Y.................... $1,000.00 $1,021.51 $ 3.74 0.73% 184 365
THE HARTFORD AGGRESSIVE
GROWTH ALLOCATION FUND
Class A.................... $1,000.00 $1,021.79 $ 3.45 0.68% 184 365
Class B.................... $1,000.00 $1,018.51 $ 6.76 1.33% 184 365
Class C.................... $1,000.00 $1,018.50 $ 6.77 1.33% 184 365
</Table>
324
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD BALANCED
ALLOCATION FUND
Class A.................... $1,000.00 $ 993.70 $ 3.00
Class B.................... $1,000.00 $ 991.00 $ 6.52
Class C.................... $1,000.00 $ 991.90 $ 6.52
THE HARTFORD CAPITAL
APPRECIATION FUND
Class A.................... $1,000.00 $1,025.90 $ 6.33
Class B.................... $1,000.00 $1,023.80 $10.28
Class C.................... $1,000.00 $1,024.10 $ 9.84
Class Y.................... $1,000.00 $1,027.20 $ 3.94
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD BALANCED
ALLOCATION FUND
Class A.................... $1,000.00 $1,022.20 $ 3.04 0.60% 184 365
Class B.................... $1,000.00 $1,018.66 $ 6.61 1.30% 184 365
Class C.................... $1,000.00 $1,018.66 $ 6.61 1.30% 184 365
THE HARTFORD CAPITAL
APPRECIATION FUND
Class A.................... $1,000.00 $1,018.96 $ 6.31 1.24% 184 365
Class B.................... $1,000.00 $1,015.04 $10.24 2.02% 184 365
Class C.................... $1,000.00 $1,015.48 $ 9.80 1.93% 184 365
Class Y.................... $1,000.00 $1,021.32 $ 3.93 0.77% 184 365
</Table>
325
HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD CAPITAL
APPRECIATION II FUND
Class A.................... $1,000.00 $1,000.90 $ 8.07
Class B.................... $1,000.00 $ 997.30 $11.83
Class C.................... $1,000.00 $ 999.10 $11.84
Class Y.................... $1,000.00 $1,000.90 $ 5.80
THE HARTFORD CONSERVATIVE
ALLOCATION FUND
Class A.................... $1,000.00 $ 994.20 $ 3.00
Class B.................... $1,000.00 $ 992.60 $ 6.27
Class C.................... $1,000.00 $ 992.60 $ 6.26
THE HARTFORD DISCIPLINED
EQUITY FUND
Class A.................... $1,000.00 $ 979.20 $ 6.98
Class B.................... $1,000.00 $ 977.40 $10.71
Class C.................... $1,000.00 $ 976.60 $10.51
Class Y.................... $1,000.00 $ 979.80 $ 4.46
THE HARTFORD DIVIDEND AND
GROWTH FUND
Class A.................... $1,000.00 $ 993.70 $ 5.86
Class B.................... $1,000.00 $ 991.50 $10.08
Class C.................... $1,000.00 $ 991.80 $ 9.49
Class Y.................... $1,000.00 $ 994.80 $ 3.64
THE HARTFORD EQUITY INCOME
FUND
Class A.................... $1,000.00 $ 992.20 $ 2.56
Class B.................... $1,000.00 $ 990.00 $ 6.90
Class C.................... $1,000.00 $ 990.30 $ 6.16
Class Y.................... $1,000.00 $ 993.10 $ 0.48
THE HARTFORD FLOATING RATE
FUND
Class A.................... $1,000.00 $1,013.00 $ 1.49
Class B.................... $1,000.00 $1,011.30 $ 5.29
Class C.................... $1,000.00 $1,011.30 $ 5.15
Class Y.................... $1,000.00 $1,013.60 $ 0.04
THE HARTFORD FOCUS FUND
Class A.................... $1,000.00 $1,003.90 $ 8.08
Class B.................... $1,000.00 $1,002.00 $11.86
Class C.................... $1,000.00 $1,002.00 $11.85
Class Y.................... $1,000.00 $1,004.80 $ 5.95
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
Class A.................... $1,000.00 $1,001.40 $ 7.23
Class B.................... $1,000.00 $1,000.00 $11.01
Class C.................... $1,000.00 $1,000.00 $11.00
Class Y.................... $1,000.00 $1,002.80 $ 5.08
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD CAPITAL
APPRECIATION II FUND
Class A.................... $1,000.00 $1,017.14 $ 8.14 1.60% 184 365
Class B.................... $1,000.00 $1,013.36 $11.93 2.35% 184 365
Class C.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,019.41 $ 5.86 1.15% 184 365
THE HARTFORD CONSERVATIVE
ALLOCATION FUND
Class A.................... $1,000.00 $1,022.20 $ 3.04 0.60% 184 365
Class B.................... $1,000.00 $1,018.91 $ 6.35 1.25% 184 365
Class C.................... $1,000.00 $1,018.92 $ 6.34 1.25% 184 365
THE HARTFORD DISCIPLINED
EQUITY FUND
Class A.................... $1,000.00 $1,018.15 $ 7.12 1.40% 184 365
Class B.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class C.................... $1,000.00 $1,014.57 $10.71 2.11% 184 365
Class Y.................... $1,000.00 $1,020.70 $ 4.55 0.89% 184 365
THE HARTFORD DIVIDEND AND
GROWTH FUND
Class A.................... $1,000.00 $1,019.33 $ 5.93 1.17% 184 365
Class B.................... $1,000.00 $1,015.08 $10.20 2.01% 184 365
Class C.................... $1,000.00 $1,015.68 $ 9.60 1.89% 184 365
Class Y.................... $1,000.00 $1,021.55 $ 3.69 0.72% 184 365
THE HARTFORD EQUITY INCOME
FUND
Class A.................... $1,000.00 $1,022.64 $ 2.60 0.51% 184 365
Class B.................... $1,000.00 $1,018.27 $ 7.00 1.38% 184 365
Class C.................... $1,000.00 $1,019.02 $ 6.25 1.23% 184 365
Class Y.................... $1,000.00 $1,024.72 $ 0.49 0.10% 184 365
THE HARTFORD FLOATING RATE
FUND
Class A.................... $1,000.00 $1,023.73 $ 1.49 0.29% 184 365
Class B.................... $1,000.00 $1,019.95 $ 5.31 1.04% 184 365
Class C.................... $1,000.00 $1,020.08 $ 5.17 1.02% 184 365
Class Y.................... $1,000.00 $1,025.16 $ 0.04 0.01% 184 365
THE HARTFORD FOCUS FUND
Class A.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class B.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class C.................... $1,000.00 $1,013.37 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,019.27 $ 5.99 1.18% 184 365
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
Class A.................... $1,000.00 $1,017.98 $ 7.29 1.43% 184 365
Class B.................... $1,000.00 $1,014.19 $11.09 2.18% 184 365
Class C.................... $1,000.00 $1,014.20 $11.08 2.18% 184 365
Class Y.................... $1,000.00 $1,020.13 $ 5.13 1.01% 184 365
</Table>
326
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
Class A.................... $1,000.00 $1,024.70 $ 7.25
Class B.................... $1,000.00 $1,022.40 $11.23
Class C.................... $1,000.00 $1,023.40 $11.22
Class Y.................... $1,000.00 $1,026.20 $ 5.10
THE HARTFORD GLOBAL HEALTH
FUND
Class A.................... $1,000.00 $1,016.60 $ 8.13
Class B.................... $1,000.00 $1,014.80 $11.93
Class C.................... $1,000.00 $1,014.80 $11.93
Class Y.................... $1,000.00 $1,017.90 $ 5.51
THE HARTFORD GLOBAL LEADERS
FUND
Class A.................... $1,000.00 $ 990.00 $ 7.42
Class B.................... $1,000.00 $ 987.60 $11.77
Class C.................... $1,000.00 $ 987.70 $11.31
Class Y.................... $1,000.00 $ 990.90 $ 4.86
THE HARTFORD GLOBAL
TECHNOLOGY FUND
Class A.................... $1,000.00 $1,002.00 $ 8.07
Class B.................... $1,000.00 $1,000.00 $11.85
Class C.................... $1,000.00 $1,000.00 $11.85
Class Y.................... $1,000.00 $1,002.00 $ 6.06
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
Class A.................... $1,000.00 $1,018.04 $ 7.23 1.42% 184 365
Class B.................... $1,000.00 $1,014.10 $11.18 2.20% 184 365
Class C.................... $1,000.00 $1,014.11 $11.17 2.20% 184 365
Class Y.................... $1,000.00 $1,020.17 $ 5.08 1.00% 184 365
THE HARTFORD GLOBAL HEALTH
FUND
Class A.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class B.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class C.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,019.74 $ 5.52 1.08% 184 365
THE HARTFORD GLOBAL LEADERS
FUND
Class A.................... $1,000.00 $1,017.75 $ 7.52 1.48% 184 365
Class B.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class C.................... $1,000.00 $1,013.83 $11.46 2.26% 184 365
Class Y.................... $1,000.00 $1,020.32 $ 4.93 0.97% 184 365
THE HARTFORD GLOBAL
TECHNOLOGY FUND
Class A.................... $1,000.00 $1,017.14 $ 8.14 1.60% 184 365
Class B.................... $1,000.00 $1,013.36 $11.93 2.35% 184 365
Class C.................... $1,000.00 $1,013.36 $11.93 2.35% 184 365
Class Y.................... $1,000.00 $1,019.15 $ 6.11 1.20% 184 365
</Table>
327
HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD GROWTH
ALLOCATION FUND
Class A.................... $1,000.00 $ 990.30 $ 3.16
Class B.................... $1,000.00 $ 989.40 $ 6.42
Class C.................... $1,000.00 $ 989.40 $ 6.43
THE HARTFORD GROWTH FUND
Class A.................... $1,000.00 $ 988.00 $ 6.66
Class B.................... $1,000.00 $ 985.90 $10.76
Class C.................... $1,000.00 $ 985.90 $10.20
Class H.................... $1,000.00 $ 986.60 $ 9.06
Class L.................... $1,000.00 $ 988.70 $ 5.31
Class M.................... $1,000.00 $ 986.60 $ 9.06
Class N.................... $1,000.00 $ 986.60 $ 9.06
Class Y.................... $1,000.00 $ 989.40 $ 4.21
THE HARTFORD GROWTH
OPPORTUNITIES FUND
Class A.................... $1,000.00 $1,007.20 $ 6.89
Class B.................... $1,000.00 $1,005.40 $10.87
Class C.................... $1,000.00 $1,005.40 $10.79
Class H.................... $1,000.00 $1,006.50 $ 9.28
Class L.................... $1,000.00 $1,008.20 $ 5.50
Class M.................... $1,000.00 $1,006.10 $ 9.28
Class N.................... $1,000.00 $1,006.10 $ 9.28
Class Y.................... $1,000.00 $1,008.90 $ 4.41
Class Z.................... $1,000.00 $1,008.60 $ 4.23
THE HARTFORD HIGH YIELD FUND
Class A.................... $1,000.00 $ 981.80 $ 6.73
Class B.................... $1,000.00 $ 978.80 $10.51
Class C.................... $1,000.00 $ 980.20 $10.07
Class Y.................... $1,000.00 $ 982.90 $ 4.35
THE HARTFORD INCOME
ALLOCATION FUND
Class A.................... $1,000.00 $ 997.00 $ 2.79
Class B.................... $1,000.00 $ 995.10 $ 6.31
Class C.................... $1,000.00 $ 995.10 $ 6.30
THE HARTFORD INCOME FUND
Class A.................... $1,000.00 $ 993.40 $ 4.77
Class B.................... $1,000.00 $ 990.60 $ 8.53
Class C.................... $1,000.00 $ 990.60 $ 8.53
Class Y.................... $1,000.00 $ 994.10 $ 3.51
THE HARTFORD INFLATION PLUS
FUND
Class A.................... $1,000.00 $1,005.60 $ 4.81
Class B.................... $1,000.00 $1,003.70 $ 8.59
Class C.................... $1,000.00 $1,002.80 $ 8.58
Class Y.................... $1,000.00 $1,005.30 $ 3.38
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD GROWTH
ALLOCATION FUND
Class A.................... $1,000.00 $1,022.03 $ 3.21 0.63% 184 365
Class B.................... $1,000.00 $1,018.75 $ 6.52 1.28% 184 365
Class C.................... $1,000.00 $1,018.75 $ 6.52 1.28% 184 365
THE HARTFORD GROWTH FUND
Class A.................... $1,000.00 $1,018.50 $ 6.76 1.33% 184 365
Class B.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class C.................... $1,000.00 $1,014.94 $10.35 2.04% 184 365
Class H.................... $1,000.00 $1,016.09 $ 9.19 1.81% 184 365
Class L.................... $1,000.00 $1,019.87 $ 5.39 1.06% 184 365
Class M.................... $1,000.00 $1,016.09 $ 9.19 1.81% 184 365
Class N.................... $1,000.00 $1,016.08 $ 9.19 1.81% 184 365
Class Y.................... $1,000.00 $1,020.97 $ 4.28 0.84% 184 365
THE HARTFORD GROWTH
OPPORTUNITIES FUND
Class A.................... $1,000.00 $1,018.34 $ 6.93 1.36% 184 365
Class B.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class C.................... $1,000.00 $1,014.45 $10.84 2.13% 184 365
Class H.................... $1,000.00 $1,015.95 $ 9.33 1.84% 184 365
Class L.................... $1,000.00 $1,019.73 $ 5.53 1.09% 184 365
Class M.................... $1,000.00 $1,015.95 $ 9.33 1.84% 184 365
Class N.................... $1,000.00 $1,015.95 $ 9.33 1.84% 184 365
Class Y.................... $1,000.00 $1,020.82 $ 4.44 0.87% 184 365
Class Z.................... $1,000.00 $1,020.99 $ 4.26 0.84% 184 365
THE HARTFORD HIGH YIELD FUND
Class A.................... $1,000.00 $1,018.41 $ 6.86 1.35% 184 365
Class B.................... $1,000.00 $1,014.59 $10.70 2.11% 184 365
Class C.................... $1,000.00 $1,015.04 $10.25 2.02% 184 365
Class Y.................... $1,000.00 $1,020.81 $ 4.44 0.87% 184 365
THE HARTFORD INCOME
ALLOCATION FUND
Class A.................... $1,000.00 $1,022.41 $ 2.82 0.55% 184 365
Class B.................... $1,000.00 $1,018.88 $ 6.38 1.25% 184 365
Class C.................... $1,000.00 $1,018.89 $ 6.38 1.25% 184 365
THE HARTFORD INCOME FUND
Class A.................... $1,000.00 $1,020.42 $ 4.84 0.95% 184 365
Class B.................... $1,000.00 $1,016.64 $ 8.64 1.70% 184 365
Class C.................... $1,000.00 $1,016.63 $ 8.64 1.70% 184 365
Class Y.................... $1,000.00 $1,021.68 $ 3.56 0.70% 184 365
THE HARTFORD INFLATION PLUS
FUND
Class A.................... $1,000.00 $1,020.41 $ 4.84 0.95% 184 365
Class B.................... $1,000.00 $1,016.63 $ 8.64 1.70% 184 365
Class C.................... $1,000.00 $1,016.63 $ 8.64 1.70% 184 365
Class Y.................... $1,000.00 $1,021.83 $ 3.41 0.67% 184 365
</Table>
328
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
Class A.................... $1,000.00 $1,005.80 $ 8.08
Class B.................... $1,000.00 $1,004.30 $11.86
Class C.................... $1,000.00 $1,004.30 $11.86
Class Y.................... $1,000.00 $1,006.50 $ 6.06
THE HARTFORD INTERNATIONAL
OPPORTUNITIES FUND
Class A.................... $1,000.00 $1,021.00 $ 7.99
Class B.................... $1,000.00 $1,019.00 $11.96
Class C.................... $1,000.00 $1,019.10 $11.96
Class Y.................... $1,000.00 $1,021.90 $ 5.16
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
Class A.................... $1,000.00 $1,019.30 $ 8.14
Class B.................... $1,000.00 $1,017.60 $11.95
Class C.................... $1,000.00 $1,017.00 $11.94
Class Y.................... $1,000.00 $1,020.60 $ 6.11
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
Class A.................... $1,000.00 $1,017.15 $ 8.13 1.60% 184 365
Class B.................... $1,000.00 $1,013.37 $11.92 2.35% 184 365
Class C.................... $1,000.00 $1,013.37 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,019.16 $ 6.10 1.20% 184 365
THE HARTFORD INTERNATIONAL
OPPORTUNITIES FUND
Class A.................... $1,000.00 $1,017.29 $ 7.98 1.57% 184 365
Class B.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class C.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,020.10 $ 5.16 1.01% 184 365
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
Class A.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class B.................... $1,000.00 $1,013.36 $11.93 2.35% 184 365
Class C.................... $1,000.00 $1,013.36 $11.92 2.35% 184 365
Class Y.................... $1,000.00 $1,019.16 $ 6.10 1.20% 184 365
</Table>
329
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD MIDCAP FUND
Class A.................... $1,000.00 $ 985.00 $ 6.49
Class B.................... $1,000.00 $ 983.30 $10.34
Class C.................... $1,000.00 $ 983.40 $ 9.92
Class Y.................... $1,000.00 $ 986.30 $ 4.13
THE HARTFORD MIDCAP VALUE
FUND
Class A.................... $1,000.00 $ 958.90 $ 6.91
Class B.................... $1,000.00 $ 956.80 $10.60
Class C.................... $1,000.00 $ 956.10 $10.60
Class Y.................... $1,000.00 $ 959.70 $ 4.65
THE HARTFORD MONEY MARKET
FUND
Class A.................... $1,000.00 $1,006.90 $ 4.81
Class B.................... $1,000.00 $1,005.00 $ 8.58
Class C.................... $1,000.00 $1,005.00 $ 8.57
Class Y.................... $1,000.00 $1,007.90 $ 2.78
THE HARTFORD RETIREMENT
INCOME FUND
Class A.................... $1,000.00 $ 987.80 $ 0.36
Class B.................... $1,000.00 $ 987.10 $ 0.86
Class C.................... $1,000.00 $ 987.10 $ 0.86
Class Y.................... $1,000.00 $ 987.00 $ 0.19
THE HARTFORD SELECT MIDCAP
GROWTH FUND
Class A.................... $1,000.00 $ 974.10 $ 7.46
Class B.................... $1,000.00 $ 972.00 $11.19
Class C.................... $1,000.00 $ 972.00 $11.18
Class Y.................... $1,000.00 $ 975.10 $ 5.48
THE HARTFORD SELECT MIDCAP
VALUE FUND
Class A.................... $1,000.00 $ 975.60 $ 7.72
Class B.................... $1,000.00 $ 973.70 $11.44
Class C.................... $1,000.00 $ 972.80 $11.44
Class Y.................... $1,000.00 $ 975.60 $ 5.73
THE HARTFORD SELECT SMALLCAP
GROWTH FUND
Class A.................... $1,000.00 $ 958.00 $ 1.11
Class B.................... $1,000.00 $ 957.00 $ 1.61
Class C.................... $1,000.00 $ 957.00 $ 1.60
Class Y.................... $1,000.00 $ 958.00 $ 0.80
THE HARTFORD SHORT DURATION
FUND
Class A.................... $1,000.00 $1,003.10 $ 4.54
Class B.................... $1,000.00 $1,001.20 $ 8.32
Class C.................... $1,000.00 $1,000.20 $ 8.31
Class Y.................... $1,000.00 $1,003.80 $ 3.28
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD MIDCAP FUND
Class A.................... $1,000.00 $1,018.67 $ 6.60 1.30% 184 365
Class B.................... $1,000.00 $1,014.78 $10.50 2.07% 184 365
Class C.................... $1,000.00 $1,015.20 $10.08 1.98% 184 365
Class Y.................... $1,000.00 $1,021.05 $ 4.20 0.82% 184 365
THE HARTFORD MIDCAP VALUE
FUND
Class A.................... $1,000.00 $1,018.15 $ 7.12 1.40% 184 365
Class B.................... $1,000.00 $1,014.37 $10.92 2.15% 184 365
Class C.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class Y.................... $1,000.00 $1,020.46 $ 4.80 0.94% 184 365
THE HARTFORD MONEY MARKET
FUND
Class A.................... $1,000.00 $1,020.42 $ 4.84 0.95% 184 365
Class B.................... $1,000.00 $1,016.65 $ 8.63 1.70% 184 365
Class C.................... $1,000.00 $1,016.66 $ 8.62 1.69% 184 365
Class Y.................... $1,000.00 $1,022.44 $ 2.80 0.55% 184 365
THE HARTFORD RETIREMENT
INCOME FUND
Class A.................... $1,000.00 $1,003.06 $ 0.36 0.53% 25 365
Class B.................... $1,000.00 $1,002.56 $ 0.86 1.26% 25 365
Class C.................... $1,000.00 $1,002.56 $ 0.86 1.26% 25 365
Class Y.................... $1,000.00 $1,003.23 $ 0.19 0.28% 25 365
THE HARTFORD SELECT MIDCAP
GROWTH FUND
Class A.................... $1,000.00 $1,017.65 $ 7.62 1.50% 184 365
Class B.................... $1,000.00 $1,013.86 $11.42 2.25% 184 365
Class C.................... $1,000.00 $1,013.87 $11.42 2.25% 184 365
Class Y.................... $1,000.00 $1,019.66 $ 5.60 1.10% 184 365
THE HARTFORD SELECT MIDCAP
VALUE FUND
Class A.................... $1,000.00 $1,017.39 $ 7.88 1.55% 184 365
Class B.................... $1,000.00 $1,013.61 $11.67 2.30% 184 365
Class C.................... $1,000.00 $1,013.61 $11.67 2.30% 184 365
Class Y.................... $1,000.00 $1,019.41 $ 5.85 1.15% 184 365
THE HARTFORD SELECT SMALLCAP
GROWTH FUND
Class A.................... $1,000.00 $1,002.29 $ 1.13 1.65% 25 365
Class B.................... $1,000.00 $1,001.78 $ 1.65 2.40% 25 365
Class C.................... $1,000.00 $1,001.79 $ 1.64 2.39% 25 365
Class Y.................... $1,000.00 $1,002.60 $ 0.82 1.20% 25 365
THE HARTFORD SHORT DURATION
FUND
Class A.................... $1,000.00 $1,020.67 $ 4.58 0.90% 184 365
Class B.................... $1,000.00 $1,016.89 $ 8.38 1.65% 184 365
Class C.................... $1,000.00 $1,016.90 $ 8.38 1.65% 184 365
Class Y.................... $1,000.00 $1,021.93 $ 3.31 0.65% 184 365
</Table>
327
HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD SMALL COMPANY
FUND
Class A.................... $1,000.00 $1,004.90 $ 7.07
Class B.................... $1,000.00 $1,002.90 $10.85
Class C.................... $1,000.00 $1,002.90 $10.86
Class Y.................... $1,000.00 $1,005.70 $ 4.85
THE HARTFORD SMALLCAP GROWTH
FUND
Class A.................... $1,000.00 $ 947.10 $ 6.86
Class B.................... $1,000.00 $ 945.30 $10.53
Class C.................... $1,000.00 $ 944.90 $10.53
Class H.................... $1,000.00 $ 945.50 $ 9.52
Class L.................... $1,000.00 $ 947.50 $ 5.85
Class M.................... $1,000.00 $ 945.50 $ 9.52
Class N.................... $1,000.00 $ 945.50 $ 9.52
Class Y.................... $1,000.00 $ 947.90 $ 4.76
THE HARTFORD STOCK FUND
Class A.................... $1,000.00 $ 998.40 $ 6.70
Class B.................... $1,000.00 $ 996.50 $11.35
Class C.................... $1,000.00 $ 997.10 $10.64
Class Y.................... $1,000.00 $1,000.00 $ 4.30
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD SMALL COMPANY
FUND
Class A.................... $1,000.00 $1,018.15 $ 7.12 1.40% 184 365
Class B.................... $1,000.00 $1,014.37 $10.92 2.15% 184 365
Class C.................... $1,000.00 $1,014.37 $10.92 2.15% 184 365
Class Y.................... $1,000.00 $1,020.37 $ 4.88 0.96% 184 365
THE HARTFORD SMALLCAP GROWTH
FUND
Class A.................... $1,000.00 $1,018.16 $ 7.11 1.40% 184 365
Class B.................... $1,000.00 $1,014.38 $10.90 2.15% 184 365
Class C.................... $1,000.00 $1,014.38 $10.91 2.15% 184 365
Class H.................... $1,000.00 $1,015.42 $ 9.86 1.94% 184 365
Class L.................... $1,000.00 $1,019.20 $ 6.06 1.19% 184 365
Class M.................... $1,000.00 $1,015.42 $ 9.86 1.94% 184 365
Class N.................... $1,000.00 $1,015.42 $ 9.86 1.94% 184 365
Class Y.................... $1,000.00 $1,020.31 $ 4.94 0.97% 184 365
THE HARTFORD STOCK FUND
Class A.................... $1,000.00 $1,018.50 $ 6.76 1.33% 184 365
Class B.................... $1,000.00 $1,013.83 $11.45 2.26% 184 365
Class C.................... $1,000.00 $1,014.55 $10.73 2.11% 184 365
Class Y.................... $1,000.00 $1,020.90 $ 4.35 0.85% 184 365
</Table>
328
HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD TAX-FREE
CALIFORNIA FUND
Class A.................... $1,000.00 $ 999.00 $ 4.53
Class B.................... $1,000.00 $ 997.20 $ 8.30
Class C.................... $1,000.00 $ 996.20 $ 8.30
THE HARTFORD TARGET
RETIREMENT 2010 FUND
Class A.................... $1,000.00 $ 982.00 $ 0.31
Class B.................... $1,000.00 $ 982.00 $ 0.81
Class C.................... $1,000.00 $ 982.00 $ 0.81
Class Y.................... $1,000.00 $ 983.00 $ 0.18
THE HARTFORD TARGET
RETIREMENT 2020 FUND
Class A.................... $1,000.00 $ 979.00 $ 0.35
Class B.................... $1,000.00 $ 978.00 $ 0.85
Class C.................... $1,000.00 $ 978.00 $ 0.85
Class Y.................... $1,000.00 $ 979.00 $ 0.14
THE HARTFORD TARGET
RETIREMENT 2030 FUND
Class A.................... $1,000.00 $ 975.00 $ 0.32
Class B.................... $1,000.00 $ 974.00 $ 0.84
Class C.................... $1,000.00 $ 974.00 $ 0.84
Class Y.................... $1,000.00 $ 975.00 $ 0.13
THE HARTFORD TAX-FREE
MINNESOTA FUND
Class A.................... $1,000.00 $ 995.20 $ 4.28
Class B.................... $1,000.00 $ 992.40 $ 8.03
Class C.................... $1,000.00 $ 993.40 $ 8.04
Class E.................... $1,000.00 $ 995.30 $ 4.50
Class H.................... $1,000.00 $ 993.40 $ 8.04
Class L.................... $1,000.00 $ 995.10 $ 4.52
Class M.................... $1,000.00 $ 993.40 $ 8.04
Class N.................... $1,000.00 $ 992.40 $ 8.03
Class Y.................... $1,000.00 $ 994.20 $ 4.59
THE HARTFORD TAX-FREE
NATIONAL FUND
Class A.................... $1,000.00 $ 997.80 $ 5.03
Class B.................... $1,000.00 $ 995.90 $ 8.80
Class C.................... $1,000.00 $ 996.00 $ 8.80
Class E.................... $1,000.00 $ 998.00 $ 4.51
Class H.................... $1,000.00 $ 996.00 $ 8.82
Class L.................... $1,000.00 $ 997.70 $ 5.28
Class M.................... $1,000.00 $ 996.00 $ 8.80
Class N.................... $1,000.00 $ 995.90 $ 8.80
Class Y.................... $1,000.00 $ 998.00 $ 4.65
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD TAX-FREE
CALIFORNIA FUND
Class A.................... $1,000.00 $1,020.67 $ 4.58 0.90% 184 365
Class B.................... $1,000.00 $1,016.89 $ 8.38 1.65% 184 365
Class C.................... $1,000.00 $1,016.89 $ 8.39 1.65% 184 365
THE HARTFORD TARGET
RETIREMENT 2010 FUND
Class A.................... $1,000.00 $1,003.11 $ 0.32 0.46% 25 365
Class B.................... $1,000.00 $1,002.60 $ 0.82 1.20% 25 365
Class C.................... $1,000.00 $1,002.60 $ 0.82 1.20% 25 365
Class Y.................... $1,000.00 $1,003.24 $ 0.19 0.27% 25 365
THE HARTFORD TARGET
RETIREMENT 2020 FUND
Class A.................... $1,000.00 $1,003.08 $ 0.35 0.51% 25 365
Class B.................... $1,000.00 $1,002.57 $ 0.86 1.25% 25 365
Class C.................... $1,000.00 $1,002.57 $ 0.86 1.25% 25 365
Class Y.................... $1,000.00 $1,003.29 $ 0.14 0.20% 25 365
THE HARTFORD TARGET
RETIREMENT 2030 FUND
Class A.................... $1,000.00 $1,003.10 $ 0.33 0.48% 25 365
Class B.................... $1,000.00 $1,002.58 $ 0.85 1.24% 25 365
Class C.................... $1,000.00 $1,002.58 $ 0.85 1.24% 25 365
Class Y.................... $1,000.00 $1,003.29 $ 0.13 0.19% 25 365
THE HARTFORD TAX-FREE
MINNESOTA FUND
Class A.................... $1,000.00 $1,020.92 $ 4.33 0.85% 184 365
Class B.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class C.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class E.................... $1,000.00 $1,020.69 $ 4.56 0.90% 184 365
Class H.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class L.................... $1,000.00 $1,020.67 $ 4.58 0.90% 184 365
Class M.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class N.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class Y.................... $1,000.00 $1,020.61 $ 4.65 0.91% 184 365
THE HARTFORD TAX-FREE
NATIONAL FUND
Class A.................... $1,000.00 $1,020.17 $ 5.09 1.00% 184 365
Class B.................... $1,000.00 $1,016.39 $ 8.89 1.75% 184 365
Class C.................... $1,000.00 $1,016.39 $ 8.89 1.75% 184 365
Class E.................... $1,000.00 $1,020.69 $ 4.56 0.90% 184 365
Class H.................... $1,000.00 $1,016.37 $ 8.91 1.75% 184 365
Class L.................... $1,000.00 $1,019.91 $ 5.34 1.05% 184 365
Class M.................... $1,000.00 $1,016.39 $ 8.89 1.75% 184 365
Class N.................... $1,000.00 $1,016.39 $ 8.89 1.75% 184 365
Class Y.................... $1,000.00 $1,020.55 $ 4.70 0.92% 184 365
</Table>
328
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD TAX-FREE NEW
YORK FUND
Class A.................... $1,000.00 $ 995.00 $ 4.27
Class B.................... $1,000.00 $ 993.10 $ 8.04
Class C.................... $1,000.00 $ 993.10 $ 8.04
THE HARTFORD TOTAL RETURN
BOND FUND
Class A.................... $1,000.00 $ 991.30 $ 6.02
Class B.................... $1,000.00 $ 989.30 $ 9.77
Class C.................... $1,000.00 $ 989.60 $ 9.37
Class Y.................... $1,000.00 $ 992.40 $ 3.63
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
Class A.................... $1,000.00 $ 995.70 $ 5.78
Class B.................... $1,000.00 $ 992.70 $ 9.54
Class C.................... $1,000.00 $ 992.70 $ 9.53
Class E.................... $1,000.00 $ 995.50 $ 4.16
Class H.................... $1,000.00 $ 993.20 $ 9.18
Class L.................... $1,000.00 $ 995.90 $ 5.42
Class M.................... $1,000.00 $ 993.20 $ 9.18
Class N.................... $1,000.00 $ 993.20 $ 9.18
Class Y.................... $1,000.00 $ 996.80 $ 4.31
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD TAX-FREE NEW
YORK FUND
Class A.................... $1,000.00 $1,020.92 $ 4.33 0.85% 184 365
Class B.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
Class C.................... $1,000.00 $1,017.14 $ 8.13 1.60% 184 365
THE HARTFORD TOTAL RETURN
BOND FUND
Class A.................... $1,000.00 $1,019.16 $ 6.10 1.20% 184 365
Class B.................... $1,000.00 $1,015.38 $ 9.90 1.95% 184 365
Class C.................... $1,000.00 $1,015.79 $ 9.49 1.87% 184 365
Class Y.................... $1,000.00 $1,021.56 $ 3.69 0.72% 184 365
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
Class A.................... $1,000.00 $1,019.41 $ 5.85 1.15% 184 365
Class B.................... $1,000.00 $1,015.63 $ 9.65 1.90% 184 365
Class C.................... $1,000.00 $1,015.64 $ 9.64 1.90% 184 365
Class E.................... $1,000.00 $1,021.03 $ 4.22 0.83% 184 365
Class H.................... $1,000.00 $1,016.00 $ 9.28 1.83% 184 365
Class L.................... $1,000.00 $1,019.77 $ 5.49 1.08% 184 365
Class M.................... $1,000.00 $1,015.99 $ 9.28 1.83% 184 365
Class N.................... $1,000.00 $1,016.00 $ 9.28 1.83% 184 365
Class Y.................... $1,000.00 $1,020.89 $ 4.36 0.86% 184 365
</Table>
329
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT APRIL 30, 2005
VALUE VALUE THROUGH
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005
-------------- ---------------- -----------------
THE HARTFORD VALUE FUND
Class A.................... $1,000.00 $ 989.00 $ 7.01
Class B.................... $1,000.00 $ 987.00 $10.77
Class C.................... $1,000.00 $ 987.00 $10.77
Class Y.................... $1,000.00 $ 990.80 $ 4.59
THE HARTFORD VALUE
OPPORTUNITIES FUND
Class A.................... $1,000.00 $ 955.20 $ 6.90
Class B.................... $1,000.00 $ 954.10 $10.58
Class C.................... $1,000.00 $ 953.50 $10.58
Class H.................... $1,000.00 $ 954.20 $ 9.82
Class L.................... $1,000.00 $ 955.80 $ 6.12
Class M.................... $1,000.00 $ 954.80 $ 9.82
Class N.................... $1,000.00 $ 954.20 $ 9.81
Class Y.................... $1,000.00 $ 956.80 $ 5.01
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT APRIL 30, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
APRIL 30, 2005 OCTOBER 31, 2005 OCTOBER 31, 2005 RATIO 1/2 YEAR FULL YEAR
-------------- ---------------- ----------------- ---------- -------- ---------
THE HARTFORD VALUE FUND
Class A.................... $1,000.00 $1,018.16 $ 7.11 1.40% 184 365
Class B.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class C.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class Y.................... $1,000.00 $1,020.59 $ 4.66 0.92% 184 365
THE HARTFORD VALUE
OPPORTUNITIES FUND
Class A.................... $1,000.00 $1,018.15 $ 7.12 1.40% 184 365
Class B.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class C.................... $1,000.00 $1,014.37 $10.91 2.15% 184 365
Class H.................... $1,000.00 $1,015.16 $10.12 1.99% 184 365
Class L.................... $1,000.00 $1,018.95 $ 6.32 1.24% 184 365
Class M.................... $1,000.00 $1,015.16 $10.12 1.99% 184 365
Class N.................... $1,000.00 $1,015.16 $10.12 1.99% 184 365
Class Y.................... $1,000.00 $1,020.08 $ 5.17 1.02% 184 365
</Table>
329
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
SHAREHOLDER MEETING RESULTS (UNAUDITED)
- --------------------------------------------------------------------------------
THE FOLLOWING PROPOSALS WERE ADDRESSED DURING THE PERIOD. * INDICATES THAT THE
PROPOSAL WAS ADDRESSED AT A SPECIAL MEETING OF SHAREHOLDERS HELD ON SEPTEMBER 7,
2005. ** INDICATES THAT THE PROPOSAL WAS ADDRESSED AT A SUBSEQUENT ADJOURNED
SPECIAL MEETING HELD ON OCTOBER 14, 2005.
1. PROPOSAL TO ELECT THE FOLLOWING INDIVIDUALS AS DIRECTORS: LYNN S.
BIRDSONG, ROBERT M. GAVIN, JR., DUANE E. HILL, SANDRA S. JAFFEE,
WILLIAM P. JOHNSTON, PHILLIP O. PETERSON, THOMAS M. MARRA, LOWNDES A.
SMITH AND DAVID M. ZNAMIEROWSKI:
<Table>
<Caption>
THE HARTFORD MUTUAL FUNDS, INC.* THE HARTFORD MUTUAL FUNDS II, INC.*
-------------------------------- ------------------------------------
DIRECTOR FOR WITHHOLD FOR WITHHOLD
- -------- --------------- -------------- ----------------- ----------------
Lynn S. Birdsong........................ 885,147,558.363 16,631,667.016 88,318,443.669 2,232,324.720
Robert M. Gavin, Jr. ................... 885,025,842.356 16,753,383.023 88,318,755.165 2,232,013.224
Duane E. Hill........................... 885,173,869.801 16,605,355.578 88,327,805.439 2,222,962.950
Sandra S. Jaffee........................ 885,156,031.003 16,623,194.376 88,327,579.118 2,223,189.271
William P. Johnston..................... 885,151,088.725 16,628,136.654 88,307,054.045 2,243,714.344
Phillip O. Peterson..................... 885,231,288.152 16,547,937.227 88,336,069.480 2,214,698.909
Thomas M. Marra......................... 885,002,284.722 16,776,940.657 88,318,600.330 2,232,168.059
Lowndes A. Smith........................ 885,179,633.957 16,599,591.422 88,326,965.370 2,223,803.019
David M. Znamierowski................... 885,124,823.279 16,654,402.100 88,275,570.292 2,275,198.097
</Table>
2. PROPOSAL TO PERMIT THE FUND'S INVESTMENT ADVISER TO SELECT AND CONTRACT
WITH SUB-ADVISERS WITHOUT OBTAINING SHAREHOLDER APPROVAL:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
--------------- ------------- ------------- ---------------
Advisers*............................... 52,426,592.013 4,050,370.377 2,142,396.620 18,660,033.000
Capital Appreciation**.................. 93,719,782.277 8,435,741.616 3,677,302.316 29,142,699.000
Disciplined Equity*..................... 14,147,972.338 1,187,332.475 541,290.777 4,030,881.000
Dividend and Growth*.................... 53,435,190.180 3,850,350.809 1,957,001.075 17,310,066.000
Equity Income*.......................... 13,523,112.103 1,057,558.315 489,164.517 4,309,026.000
Focus*.................................. 3,604,535.499 264,557.034 126,112.878 1,183,118.000
Global Communications*.................. 1,294,335.553 39,031.249 24,449.839 677,643.000
Global Financial Services*.............. 999,054.041 54,685.652 21,856.954 495,618.000
Global Health*.......................... 15,222,766.414 836,550.850 207,390.794 4,142,486.000
Global Leaders*......................... 16,920,310.584 1,078,454.613 472,614.259 6,381,605.000
Global Technology**..................... 4,239,858.816 305,554.102 127,855.562 1,578,310.000
Growth**................................ 25,852,428.108 1,981,365.955 894,026.981 8,570,315.000
Growth Opportunities*................... 12,195,652.998 1,082,654.783 526,958.831 3,326,251.000
High Yield*............................. 20,101,000.196 1,508,250.417 902,410.033 5,029,010.000
Income*................................. 2,830,386.776 160,921.515 72,245.107 400,463.000
Inflation Plus**........................ 35,441,610.801 4,158,815.859 1,443,698.968 9,679,886.000
International Capital Appreciation*..... 7,376,108.427 787,645.299 445,088.318 2,150,871.000
International Opportunities**........... 4,277,088.592 268,989.236 135,924.682 1,527,629.000
International Small Company*............ 3,776,316.272 246,840.292 140,617.535 267,745.000
MidCap**................................ 42,918,923.661 3,245,911.232 1,456,656.827 13,476,938.000
MidCap Value*........................... 13,400,349.652 1,027,014.789 590,370.353 4,562,101.000
Money Market*........................... 102,607,087.763 7,036,282.469 4,010,479.863 25,584,459.000
Short Duration*......................... 8,624,376.196 613,586.826 246,929.766 3,686,626.000
Small Company*.......................... 6,669,122.101 664,683.457 218,553.612 1,889,657.000
SmallCap Growth*........................ 3,944,124.534 298,757.241 156,512.997 935,257.000
Stock**................................. 31,051,542.587 2,003,196.608 1,052,756.434 11,353,765.000
</Table>
330
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
SHAREHOLDER MEETING RESULTS (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
--------------- ------------- ------------- ---------------
Tax-Free California*.................... 1,024,638.442 25,163.146 10,299.000 415,614.000
Tax-Free Minnesota*..................... 1,840,086.098 173,559.424 33,167.110 445,946.000
Tax-Free National*...................... 3,905,932.657 401,049.130 161,628.756 1,196,695.000
Tax-Free New York*...................... 1,191,841.545 6,212.111 7,144.000 187,868.000
Total Return Bond*...................... 26,611,132.257 1,599,667.355 804,091.472 8,141,712.000
U.S. Government Securities*............. 11,214,462.920 989,103.456 622,570.875 1,484,749.000
Value*.................................. 6,620,490.586 836,656.365 225,240.686 1,189,873.000
Value Opportunities*.................... 5,966,582.441 493,203.070 160,517.283 1,524,474.000
</Table>
3.A(I). PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING THE ISSUING OF
SENIOR SECURITIES:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 96,018,909.950 5,369,060.439 4,444,855.820 29,142,699.000
Disciplined Equity*...................... 14,515,359.825 689,089.959 672,145.806 4,030,881.000
Global Health*........................... 15,641,482.131 364,914.446 260,311.481 4,142,486.000
Global Technology**...................... 4,312,895.549 206,333.226 154,039.705 1,578,310.000
Stock**.................................. 31,593,719.168 1,281,498.390 1,232,278.071 11,353,765.000
</Table>
3.A(II). PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING THE BORROWING
OF MONEY:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 95,297,934.536 6,080,430.513 4,454,461.160 29,142,699.000
Disciplined Equity*...................... 14,422,256.721 795,294.037 659,044.832 4,030,881.000
Global Health*........................... 15,631,831.330 381,021.051 253,855.677 4,142,486.000
Global Technology**...................... 4,305,886.947 226,824.932 140,556.601 1,578,310.000
Stock**.................................. 31,443,690.566 1,421,185.470 1,242,619.593 11,353,765.000
</Table>
3.A(III). PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING THE BORROWING
OF MONEY, ISSUING OF SENIOR SECURITIES AND PURCHASING SECURITIES
ON MARGIN:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
------------- ----------- ----------- ---------------
SmallCap Growth Fund*......................... 3,952,027.805 253,496.799 193,870.168 935,257.000
</Table>
3.B. PROPOSAL TO ELIMINATE THE FUNDAMENTAL POLICY REGARDING THE PLEDGING,
MORTGAGING OR HYPOTHECATING OF ASSETS:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
------------- ----------- ----------- ---------------
SmallCap Growth Fund*......................... 3,939,854.328 250,990.059 208,550.385 935,257.000
</Table>
3.C. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING UNDERWRITING
SECURITIES:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 96,372,986.616 5,017,982.467 4,441,857.126 29,142,699.000
Disciplined Equity*...................... 14,526,889.348 652,453.373 697,252.869 4,030,881.000
Global Health*........................... 15,657,978.822 357,538.108 251,191.128 4,142,486.000
Global Technology**...................... 4,322,673.237 201,887.434 148,707.809 1,578,310.000
Stock**.................................. 31,653,813.622 1,200,669.432 1,253,012.575 11,353,765.000
</Table>
331
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
SHAREHOLDER MEETING RESULTS (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
3.D. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING INVESTMENTS IN
REAL ESTATE AND INTERESTS THEREIN:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 96,734,395.319 4,832,276.261 4,266,154.629 29,142,699.000
Disciplined Equity*...................... 14,632,275.012 584,338.745 659,981.833 4,030,881.000
Global Health*........................... 15,691,925.954 328,497.191 246,284.913 4,142,486.000
Global Technology**...................... 4,334,099.687 193,419.043 145,749.750 1,578,310.000
SmallCap Growth*......................... 4,022,542.954 181,521.233 195,330.585 935,257.000
Stock**.................................. 31,749,704.825 1,137,640.814 1,220,149.990 11,353,765.000
</Table>
3.E. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING PURCHASES AND
SALES OF COMMODITIES AND COMMODITIES CONTRACTS:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 95,862,961.589 5,625,621.478 4,344,243.142 29,142,699.000
Disciplined Equity*...................... 14,517,405.883 703,756.052 655,433.655 4,030,881.000
Global Health*........................... 15,637,968.729 374,113.293 254,626.036 4,142,486.000
Global Technology**...................... 4,323,186.470 202,428.446 147,653.564 1,578,310.000
SmallCap Growth*......................... 3,977,502.458 224,427.205 197,465.109 935,257.000
Stock**.................................. 31,568,238.364 1,288,945.994 1,250,311.271 11,353,765.000
</Table>
3.F. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING THE
DIVERSIFICATION OF INVESTMENTS:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 97,081,407.658 4,533,394.316 4,218,024.235 29,142,699.000
Disciplined Equity*...................... 14,611,511.814 630,011.635 635,072.141 4,030,881.000
Stock**.................................. 31,811,237.454 1,093,339.873 1,202,918.302 11,353,765.000
</Table>
3.G. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING INVESTMENT
CONCENTRATIONS WITHIN A PARTICULAR INDUSTRY:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
--------------- ------------- ------------- ---------------
Advisers*............................... 53,876,955.327 2,326,116.237 2,416,287.446 18,660,033.000
Aggressive Growth*...................... 2,760,599.650 48,674.501 100,925.596 1,143,587.000
Balanced Allocation*.................... 12,543,593.435 266,597.291 371,500.383 4,425,437.000
Capital Appreciation**.................. 96,736,848.114 4,812,635.521 4,283,342.574 29,142,699.000
Conservative Allocation*................ 4,030,137.895 51,474.576 135,329.805 1,248,922.000
Disciplined Equity*..................... 14,547,223.748 695,361.554 634,010.288 4,030,881.000
Dividend and Growth*.................... 54,943,122.641 2,200,978.425 2,098,440.998 17,310,066.000
Equity Income*.......................... 13,839,261.298 725,807.527 504,766.110 4,309,026.000
Focus*.................................. 3,714,005.047 144,700.954 136,499.410 1,183,118.000
Global Leaders*......................... 17,271,970.310 670,301.584 529,107.562 6,381,605.000
Growth*................................. 25,195,633.304 1,067,492.828 1,030,602.653 10,177,143.000
Growth Allocation**..................... 9,942,110.059 195,188.339 397,312.978 3,316,418.000
Growth Opportunities*................... 12,555,225.328 687,170.976 562,870.308 3,326,251.000
High Yield*............................. 20,549,049.916 948,043.213 1,014,567.517 5,029,010.000
Income*................................. 2,866,831.992 108,895.003 87,826.403 400,463.000
Income Allocation*...................... 1,313,631.435 31,809.000 38,548.802 409,290.000
Inflation Plus*......................... 36,429,925.942 1,740,101.363 1,595,024.830 12,885,842.000
International Capital Appreciation*..... 7,766,909.137 374,772.827 467,160.080 2,150,871.000
International Opportunities*............ 3,982,854.084 156,862.663 133,036.290 1,626,700.000
International Small Company*............ 3,929,516.471 95,856.004 138,401.624 267,745.000
</Table>
332
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
SHAREHOLDER MEETING RESULTS (UNAUDITED) -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
--------------- ------------- ------------- ---------------
MidCap*................................. 41,531,109.245 1,790,131.992 1,467,799.471 17,107,898.000
MidCap Value*........................... 13,940,258.990 531,752.718 545,723.086 4,562,101.000
Money Market*........................... 105,513,820.591 4,249,762.783 3,890,266.721 25,584,459.000
Short Duration*......................... 8,819,491.860 379,088.283 286,312.645 3,686,626.000
Small Company*.......................... 6,896,359.259 418,159.620 237,840.291 1,889,657.000
SmallCap Growth*........................ 4,033,926.733 170,643.799 194,824.240 935,257.000
Stock**................................. 31,757,141.293 1,133,627.212 1,216,727.124 11,353,765.000
Tax-Free California*.................... 1,035,277.588 10,895.000 13,928.000 415,614.000
Tax-Free Minnesota*..................... 1,929,780.762 69,320.031 47,711.839 445,946.000
Tax-Free National*...................... 4,143,787.464 185,294.337 139,528.742 1,196,695.000
Tax-Free New York*...................... 1,181,543.557 3,483.129 20,170.970 187,868.000
Total Return Bond*...................... 27,205,557.946 987,215.120 822,118.018 8,141,712.000
U.S. Government Securities*............. 11,607,852.546 626,019.209 592,265.496 1,484,749.000
Value*.................................. 7,174,206.701 267,850.799 240,330.137 1,189,873.000
Value Opportunities*.................... 6,093,386.665 332,310.086 194,606.043 1,524,474.000
</Table>
3.H(I). PROPOSAL TO ELIMINATE THE FUNDAMENTAL POLICY REGARDING PURCHASES
FROM AND SALES TO OFFICERS, DIRECTORS AND EMPLOYEES:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
------------- ----------- ----------- ---------------
SmallCap Growth*.............................. 3,895,546.631 303,598.865 200,249.276 935,257.000
</Table>
3.H(II). PROPOSAL TO ELIMINATE THE FUNDAMENTAL POLICY REGARDING SECURITIES
TRADING ACCOUNTS:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
------------- ----------- ----------- ---------------
SmallCap Growth*.............................. 3,922,923.424 267,156.193 209,315.155 935,257.000
</Table>
3.I. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING THE MAKING OF
LOANS:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ------------- ------------- ---------------
Capital Appreciation**................... 95,523,131.815 5,898,753.995 4,410,940.399 29,142,699.000
Disciplined Equity*...................... 14,480,639.254 766,877.641 629,078.695 4,030,881.000
Global Health*........................... 15,627,810.888 390,996.250 247,900.920 4,142,486.000
Global Technology**...................... 4,301,786.987 221,505.412 149,976.081 1,578,310.000
SmallCap Growth*......................... 3,926,744.199 272,055.451 200,595.122 935,257.000
Stock**.................................. 31,511,249.090 1,372,793.978 1,223,452.561 11,353,765.000
</Table>
3.J. PROPOSAL TO ELIMINATE THE FUNDAMENTAL POLICY REGARDING SHORT SALES:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
------------- ----------- ----------- ---------------
SmallCap Growth*.............................. 3,928,893.334 265,126.540 205,374.898 935,257.000
</Table>
3.K. PROPOSAL TO REVISE THE FUNDAMENTAL POLICY REGARDING INVESTMENTS WITHIN
CERTAIN INDUSTRIES:
<Table>
<Caption>
FOR AGAINST ABSTAIN BROKER NON-VOTE
-------------- ----------- ----------- ---------------
Global Health*............................... 15,704,295.903 322,316.334 240,095.821 4,142,486.000
Global Technology**.......................... 4,332,523.573 183,153.666 157,591.241 1,578,310.000
</Table>
333
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED)
Section 15(c) of the Investment Company Act of 1940, as amended (the "1940
Act"), requires that each mutual fund's board of directors, including a majority
of those directors who are not "interested persons" of the mutual fund, as
defined in the 1940 Act ("Independent Directors"), annually review and consider
the continuation of the Funds' investment advisory and sub-advisory agreements,
after an initial two year period.
At a meeting held on August 2-3, 2005, the Board of Directors of the Funds,
including each of the Independent Directors, unanimously voted to approve the
investment management agreement for each Fund with an agreement up for renewal
with Hartford Investment Financial Services, LLC ("HIFSCO") and the investment
sub-advisory agreements between HIFSCO and such Funds' sub-advisers
("sub-advisers") -- Wellington Management Company, LLP ("Wellington") and
Hartford Investment Management Company ("Hartford Investment") (collectively,
the "agreements"). In the months preceding this meeting, the Board requested,
received, and reviewed written responses from HIFSCO and each sub-adviser to
questions posed to them on behalf of the Independent Directors and supporting
materials relating to those questions and responses. In addition, the Board
received in-person presentations about each of the Funds and the related
agreements by Fund officers and representatives from HIFSCO at the Board's
meetings on June 21-22, 2005 and August 2-3, 2005. In considering the approval
of the agreements, the Board also took into account information provided to the
Board throughout the year at its regular quarterly and special Board meetings,
including reports on Fund performance, compliance, shareholder services, and the
other services provided to the Funds by HIFSCO, the sub-advisers, and their
affiliates.
The Independent Directors, who were advised by their independent legal counsel
throughout this process, engaged two service providers to assist them with
evaluating the agreements with respect to each of the Funds. Lipper, Inc.
("Lipper"), an independent provider of investment company data, was retained to
provide the Board with reports on how each Fund's management and sub-advisory
fees, overall expense ratios, and investment performance compared to those of
mutual funds with similar investment objectives in various peer groups ("peer
funds"). The Independent Directors also engaged an independent financial
services consulting firm (the "Consultant") to assist them in evaluating each
Fund's management and sub-advisory fees, overall expense ratios and investment
performance in connection with the Board's review and negotiation with
management on the renewal of the agreements.
The Board considered the agreements for the Funds at the June and August
meetings, and dealt with each Fund separately. In connection with these
deliberations, HIFSCO agreed to reduce fees and shareholder expenses for a
number of the Funds. In determining to continue the agreements for each Fund,
the Board determined that the proposed management fee structure for each Fund,
taking into account these reductions, was fair and reasonable and that
continuation of the agreements, including the continued appointment of HIFSCO as
manager and Wellington and Hartford Investment as sub-advisers, was in the best
interests of each Fund and its shareholders.
In determining to re-approve the agreements, the Board considered the following
categories of material factors, among others, relating to the agreements.
NATURE, EXTENT AND QUALITY OF SERVICES
The Board requested and considered information and data concerning the nature,
extent, and quality of the services provided to the Funds by HIFSCO and each of
the sub-advisers. The Board considered, among other things, the terms of the
agreements, the range of services provided, and HIFSCO's and each sub-adviser's
organizational structure, systems and personnel. The Board received information
on the background and experience of senior management and relevant investment
and other personnel at HIFSCO and each sub-adviser, and the adequacy of the time
and attention devoted by them to the Funds. The Board considered HIFSCO's and
each sub-adviser's reputation and overall financial strength, as well as their
willingness to consider and implement organizational and operational changes,
including hiring additional personnel, designed to improve services to the
Funds, and their investments in infrastructure in light of increased regulatory
requirements and other developments.
The Board also requested and evaluated information concerning HIFSCO's and each
sub-adviser's regulatory and compliance environment. In this regard, the Board
requested and reviewed information on HIFSCO's and each sub-adviser's compliance
policies and procedures, their compliance history, and reports from the Funds'
Chief Compliance Officer on HIFSCO's and each sub-adviser's compliance with
applicable laws and regulations, including their responses to regulatory
developments and compliance issues raised by regulators. The Board also noted
HIFSCO's and the sub-advisers'
334
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
support of the Funds' compliance control structure, particularly the resources
devoted by HIFSCO and the sub-advisers in support of the Funds' obligations
pursuant to Rule 38a-1 under the 1940 Act.
With respect to HIFSCO, the Board noted that under the agreements, HIFSCO is
responsible for the management of each Fund, and provides administrative
services to the Funds as well as its investment advisory services in connection
with selecting, monitoring and supervising sub-advisers. With respect to the
Asset Allocation Funds, the Board noted that HIFSCO is also responsible for
administering the asset allocation programs for the Funds. The Board considered
its experiences with HIFSCO with respect to each of the services it has provided
to the Funds, including HIFSCO's management and monitoring of the Funds'
sub-advisers, its administration of the Asset Allocation Funds' allocation
programs, and its supervision of fund operations and oversight of service
providers, with attention to the quality of HIFSCO's communications with the
Board, and HIFSCO's responsiveness to Board inquiries. The Board considered that
HIFSCO or its affiliates are responsible for providing the Funds' officers and
paying their salaries and expenses. In addition, the Board considered the nature
and quality of the services provided to the Funds and their shareholders by
HIFSCO's affiliates, and in particular shareholder services provided by the
Funds' transfer agent, which have resulted in the Funds being independently
recognized in the mutual fund industry for high-quality shareholder services.
With respect to the sub-advisers, who provide day-to-day portfolio management
services, the Board considered the quality of each sub-adviser's investment
personnel (including each sub-adviser's ability to attract and retain qualified
investment professionals), each sub-adviser's investment philosophy and process
(and adherence to that philosophy and process), investment research capabilities
and resources, performance record, and trade execution capabilities and
experience, with attention to the quality of each sub-adviser's communications
with the Board, and each sub-adviser's responsiveness to Board inquiries.
In considering this information, the Board evaluated not only the information
presented to the Board in connection with its consideration of the agreements,
but also the Board's experience through past interactions with HIFSCO and the
sub-advisers. Based on these considerations, the Board concluded that it was
satisfied with the nature, extent and quality of the services provided to the
Funds by HIFSCO and each of the sub-advisers.
PERFORMANCE OF THE FUNDS, HIFSCO, AND THE SUB-ADVISERS
The Board considered the investment performance of each of the Funds. In this
regard, the Board considered information and materials provided to the Board
from HIFSCO and Lipper comparing each fund's short-term and long-term and recent
investment performance over various periods of time with appropriate benchmark
indices, and with a performance universe of funds selected by Lipper. This
information included performance reports (provided by Lipper, HIFSCO and the
sub-advisers) and discussions with portfolio managers and other representatives
of the sub-advisers at board meetings throughout the year, as well as the
information provided especially for the annual contract review. The Board also
considered the analysis provided by the Consultant relating to each Fund's
performance track record.
In connection with its review of performance, the Board considered recent
personnel additions at HIFSCO charged with overseeing and evaluating the
sub-advisers and Fund performance, and HIFSCO's cooperation with the work of the
Investment Committee of the Board of Directors, which assists the Board in
evaluating the performance of the Funds at periodic meetings throughout the
year. The Board reviewed the performance of each Fund over the different time
periods presented in the materials and evaluated HIFSCO's and the sub-advisers'
analysis of the Funds' performance for these time periods, with specific
attention to information indicating underperformance of certain Funds for
specific time periods relative to a peer group or benchmark, and the causes for
such underperformance. In evaluating the performance of each Fund, the Board
also considered whether the Fund had been in operation for a sufficient time
period to establish a meaningful performance track record.
With respect to certain specific Funds, the Board considered actions HIFSCO and
the relevant sub-adviser had taken to address performance. As of May 1, 2005,
Wellington had replaced the portfolio management team for the Advisers Fund, the
Focus Fund, and the Stock Fund. As of September 1, 2005, Hartford Investment
would replace the portfolio management team for the High Yield Fund. Information
presented to the Board concerning these changes demonstrated the strong
capabilities and track record of the new portfolio management team as well as
Wellington's and Hartford Investment's commitment to dedicate attention and
resources to the Funds.
335
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
Based on these considerations, the Board concluded with respect to each of the
Funds that the Fund's performance over time has been satisfactory or, in the
case of the Funds mentioned above, that HIFSCO and the sub-advisers are
addressing the Board's concerns about investment performance, and the Board had
continued confidence in HIFSCO's and the sub-advisers' overall capabilities to
manage each Fund.
The Funds disclose more information about their performance in the Manager
Discussions and Financial Highlights sections of this Report and in the Funds'
prospectus.
COSTS OF THE SERVICES AND PROFITABILITY OF HIFSCO AND THE SUB-ADVISERS
The Board reviewed information regarding HIFSCO's cost to provide investment
management and related services to the Funds and HIFSCO's profitability, both
overall and as to profits expected from the management of each Fund. The Board
also requested and reviewed information about the profitability to HIFSCO, the
sub-advisers and their affiliates from all services provided to the Funds and
all aspects of their relationship with the Funds. With respect to those Funds
which are sub-advised by Hartford Investment, which is an affiliate of HIFSCO,
the Board considered the costs and profitability information for HIFSCO and
Hartford Investment in the aggregate. The Board reviewed with representatives of
the Consultant the assumptions and allocation methods used by HIFSCO in
preparing the cost and profitability data provided to the Board. The Board
recognized that allocation methods are inherently subjective, and different
methods may be reasonable although they lead to different results. In evaluating
HIFSCO's profitability, the Board considered the fact that HIFSCO has subsidized
certain of the Funds' fees and total operating expenses through expense
limitations and voluntary fee waivers, including expense limitations and
voluntary fee waivers negotiated by the Board in connection with the renewal of
the agreements, as described below. The Board noted the difficulty in obtaining
reliable comparative data about adviser profitability, since such information is
not generally publicly available and is impacted by numerous factors, including
the structure of an adviser's organization, the types of funds it manages, and
the adviser's capital structure and costs of capital. The Board considered the
profitability of HIFSCO's relationship with the Funds on a pre-tax basis without
regard to distribution expenses.
The Board also requested and received information relating to the operations and
profitability of Wellington. In evaluating Wellington's profitability with
respect to the Funds, the Board considered primarily HIFSCO's and Wellington's
representations that HIFSCO had negotiated Wellington's sub-advisory fees at
arm's length. In addition, the Board considered representations from Wellington
to the effect that the fees that HIFSCO would pay to Wellington were comparable
to fees charged by Wellington to similar clients. The Board also considered
Wellington's use of "soft dollars" in connection with allocation of the Funds'
brokerage commissions to obtain research that would benefit all of Wellington's
clients and reduce amounts Wellington might otherwise have to pay for such
research.
Based on these considerations, the Board concluded that the profits anticipated
to be realized by HIFSCO, the sub-advisers and their affiliates from their
relationships with the Funds would not be excessive.
COMPARISON OF FEES AND SERVICES PROVIDED BY HIFSCO AND THE SUB-ADVISERS
The Board considered comparative information with respect to the investment
management fees to be paid by the Funds to HIFSCO, the investment sub-advisory
fees to be paid by HIFSCO to the sub-advisers, and the total expense ratios of
the Funds. In this regard, the Board requested and reviewed information from
HIFSCO and each sub-adviser relating to the management and sub-advisory fees,
and total operating expenses, for each of the Funds. The Board also reviewed
written materials from Lipper providing comparative information about each
Fund's management and sub-advisory fees, total expense ratios and the components
thereof, relative to those of three peer groups. In addition, the Board
considered the analysis and recommendations of the Consultant relating to each
Fund's management and subadvisory fees and total operating expenses. While the
Board recognized that comparisons between the Funds and peer funds are
imprecise, given the differing service levels and characteristics of mutual
funds, and the different business models and cost structures of advisers, the
comparative information provided by Lipper assisted the Board in evaluating the
reasonableness of each Fund's management and sub-advisory fees and total expense
ratios.
336
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
In considering the reasonableness of the Funds' fees and total expense ratios,
the Board particularly considered HIFSCO's agreement to downward adjustments in
certain Funds' fees and expenses in connection with the contract renewal
process. These downward adjustments were a result of reductions of contractual
fees, voluntary waivers, additional breakpoints and expense caps, including a
voluntary cap on transfer agent fees of 35 basis points for any class of any
Fund (to be imposed independently of any other expense cap). In its
deliberations, the Board gave significant weight to each Fund's overall expense
ratio, net of these reductions.
Unless otherwise noted, the following fee reductions and fee waivers were agreed
to at the meeting, each effective November 1, 2005:
- The Hartford Advisers Fund -- 3.3 basis point contractual fee reduction
and an additional 5 basis point fee waiver;
- The Hartford Equity Income Fund -- 30 basis point fee waiver;
- The Hartford Focus Fund -- 10 basis point fee waiver;
- The Hartford Global Communications Fund -- 45 basis point fee waiver;
effective September 1, 2005
- The Hartford Global Financial Services Fund -- 45 basis point fee waiver;
effective September 1, 2005
- The Hartford High Yield Fund -- 15 basis point fee waiver; and
- The Hartford Stock Fund -- 5 basis point fee waiver.
In addition to the contractual fee reductions and fee waivers noted above,
HIFSCO agreed to additional management fee breakpoints of 2 basis points on
average daily net assets in excess of $5 billion and 1 basis point on assets in
excess of $10 billion; for the following funds:
The Hartford High Yield Fund
The Hartford Income Fund
The Hartford Total Return Bond Fund
The Hartford U.S. Government Securities Fund
The Hartford Inflation Plus Fund
The Hartford Floating Rate Fund
The Hartford Short Duration Fund
The Hartford Money Market Fund
The Hartford Tax-Free Minnesota Fund
The Hartford Tax-Free California Fund
The Hartford Tax-Free National Fund
The Hartford Tax-Free New York Fund
HIFSCO has also agreed to an additional management fee breakpoint of 5 basis
points on assets in excess of $500 million for the following funds:
The Hartford Aggressive Growth Allocation Fund
The Hartford Balanced Allocation Fund
The Hartford Conservative Allocation Fund
The Hartford Growth Allocation Fund
The Hartford Income Allocation Fund
Furthermore, HIFSCO agreed to continue the expense caps previously implemented
on certain of the Funds through October 31, 2006.
Based on these considerations, and after taking into account the reductions
described above, the Board believes that the comparative information reviewed
indicates that each Fund's management and sub-advisory fees and total operating
expenses are within a range that is competitive and, in conjunction with the
information about quality of services, profitability, economies of scale, and
other matters discussed, supports the conclusion that these fees and expenses
are reasonable.
ECONOMIES OF SCALE
The Board considered the extent to which economies of scale would be realized as
each Fund grows and whether the fee levels reflect these economies of scale for
the benefit of each Fund's investors.
337
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
The Board reviewed the breakpoints in the advisory fee schedule for each of the
Funds, including the additional breakpoints agreed to in the schedule for each
Fund sub-advised by Hartford Investment as described above, which reduce fees as
Fund assets grow over time. These breakpoints provide economies of scale to the
Funds and their shareholders in that as a Fund grows in size, its effective
management fee rate declines. The Board recognized that Funds with assets beyond
the last breakpoint level continue to benefit from economies of scale, because
additional assets are charged the lowest breakpoint fee, resulting in lower
overall effective management fee rates. The Board considered that certain Funds
may achieve some economies as certain fixed expenses are spread over a larger
asset base, noting that there is no precise way to measure such economies, and
that certain expenses do not necessarily decrease as assets increase. The Board
also considered that expense limitations and fee waivers that reduce Fund
expenses at all asset levels can have the same effect as breakpoints in sharing
economies of scale with shareholders, and that a schedule that reaches a lower
breakpoint quickly provides shareholders with the benefit of anticipated or
potential economies of scale.
The Board requested and considered information regarding HIFSCO's and the
sub-advisers' realization of economies of scale with respect to the Funds. The
Board considered representations from HIFSCO that it was difficult to anticipate
whether and the extent to which economies may be realized by HIFSCO as assets
grow over time.
The Board reviewed and evaluated materials from Lipper showing how the fee
schedules of peer funds reflect economies of scale for the benefit of investors
as a peer fund's assets hypothetically increase over time. In this regard, the
Board considered a presentation from HIFSCO demonstrating the actual and
hypothetical impact of breakpoints in the Funds' advisory and sub-advisory fee
schedules as the Funds grow over time, including the impact of expense
limitations placed on certain Funds. Based on information provided by HIFSCO,
Lipper, and the Consultant, the Board recognized that there is no uniform
methodology for establishing breakpoints, or uniform pattern in asset levels
that trigger breakpoints or the amounts of breakpoints triggered.
After considering all of the information available to it, the Board concluded
that it was satisfied with the extent to which economies of scale would be
shared for the benefit of each Fund's investors, based on currently available
information and the effective advisory fees and expense ratios for the Funds at
their current and reasonably anticipated asset levels. The Board noted, however,
that it would continue to monitor future growth in Fund assets and the
appropriateness of additional breakpoints.
OTHER BENEFITS
The Board considered other benefits to HIFSCO, the sub-advisers and their
affiliates from their relationships with the Funds.
The Board reviewed information noting that Hartford Life, Inc. ("Hartford
Life"), an affiliate of HIFSCO, receives fees for fund accounting and related
services from the Funds, and the Board considered information on expected
profits to Hartford Life or its affiliates for such services. The Board noted,
in this regard, that Hartford Life is in the process of completing a
reorganization of the fund accounting function that is expected to result in
cost savings to the Funds over time. The Board noted that it would continue to
monitor potential cost savings in this area.
The Board also reviewed the fact that Hartford Administrative Services Company
("HASCO"), the Funds' transfer agent and an affiliate of HIFSCO, receives
transfer agency compensation from the Funds, and the Board reviewed information
on the expected profitability of the Funds' transfer agency function to HASCO.
The Board noted, in this regard, that HASCO is a recognized leader in providing
high quality services to Fund shareholders. The Board considered information
provided by HIFSCO indicating that the per-account fees charged by HASCO to the
Funds are reasonable and in line with industry standards. The Board additionally
considered that HIFSCO has agreed to a new voluntary expense cap whereby the
transfer agent expenses of Fund will not exceed 35 basis points for any class of
any Fund, independently of other existing or proposed expense limitations.
The Board also considered that, as principal underwriter of the Funds, HIFSCO
receives 12b-1 fees from the Funds and receives all or a portion of the sales
charges on sales or redemptions of certain classes of shares. The Board also
noted that certain affiliates of HIFSCO distribute shares of the Funds and
receive compensation in that connection.
338
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
The Board considered benefits to the sub-advisers from their proposed use of the
Funds' brokerage commissions to obtain soft dollar research, and representations
from HIFSCO and the sub-advisers that the sub-advisers would not be making any
revenue-sharing payments or any other type of distribution payments to HIFSCO or
its affiliates.
The Board considered the benefits to shareholders of being part of the Hartford
family of funds, including the right to exchange investments between the same
class of funds without a sales charge, the ability to reinvest Fund dividends
into other funds in the family and to combine holdings in other Funds to obtain
a reduced sales charge. The Board considered HIFSCO's efforts to provide
investors in the family with a broad range of investment styles and asset
classes, and its entrepreneurial risk in initiating new funds to expand these
opportunities for shareholders.
* * * *
Based upon its review of these various factors, among others, the Board
concluded that it is in the best interests of the Funds and their shareholders
for the Board to approve the agreements for an additional year. In reaching this
decision, the Board did not assign relative weights to the factors discussed
above or deem any one or group of them to be controlling in and of themselves.
In connection with their deliberations, the Independent Directors and the full
Board met separately in executive session on several occasions, with independent
legal counsel, to review the relevant materials and consider their
responsibilities under relevant laws and regulations.
SELECT SMALLCAP GROWTH FUND
(FOR PURPOSES OF THIS SECTION, THE TERM "FUND" SHALL REFER ONLY TO SELECT
SMALLCAP GROWTH FUND)
At a meeting held on May 3-4, 2005, the Board of Directors unanimously voted to
approve Select SmallCap Growth Fund's (the "Fund") investment management
agreement with HIFSCO and the investment sub-advisory agreements between HIFSCO
and each of the Fund's sub-advisers ("sub-advisers") -- Oberweis Asset
Management, Inc. ("Oberweis") and Jennison Associates LLC ("Jennison")
(collectively, the "agreements"). In this regard, the Board requested and
reviewed materials concerning the Fund from HIFSCO and the sub-advisers (the
"Adviser Materials"), and received in-person presentations about the Fund by the
Fund's officers, and representatives from HIFSCO and the sub-advisers at the May
3-4, 2005 meeting. In determining to approve the agreements, the Board
considered the following categories of material factors, among others, relating
to the agreements.
NATURE, EXTENT AND QUALITY OF SERVICES
The Board considered the nature, extent, and quality of the services to be
provided to the Fund by HIFSCO and the sub-advisers. The Board considered, among
other things, HIFSCO's and each sub-adviser's organizational structure,
personnel who would provide services to the Fund, capacity, investment process,
and regulatory/compliance history. In addition, the Board considered each
sub-adviser's investment philosophy, performance record, and trade execution
capabilities. The Board also considered representations from fund management
that the management styles of the two sub-advisers would complement each other,
and concluded that the Fund had merit as an addition to the Hartford family of
funds. The Board further considered its past experiences with HIFSCO with
respect to the services it has provided to other Hartford-sponsored funds,
including HIFSCO's management and monitoring of the funds' sub-advisers, the
quality of HIFSCO's communications with the Board, the compliance structure and
systems established by HIFSCO, and HIFSCO's responsiveness to Board inquiries.
The Board concluded that it was satisfied with the nature, extent and quality of
the services to be provided to the Fund by HIFSCO and each of the sub-advisers.
PERFORMANCE OF THE FUND, HIFSCO, AND THE SUB-ADVISERS
As the Fund is a new fund, there was no performance history of the Fund for the
Board to review. However, the Board considered the investment performance of the
sub-advisers in managing funds and accounts which follow investment strategies
similar to the Fund (i.e., focusing on small-cap growth investments). In this
regard, the Board reviewed presentations by Fund officers and representatives of
the sub-advisers, and relevant information included in the Adviser Materials.
The Board considered each sub-adviser's prior performance in managing assets in
the small-cap growth asset category with respect to both benchmark and various
peer group records. In addition, the Board considered reports from HIFSCO
showing the hypothetical past-performance of composites reflecting the Fund's
proposed investment strategy and
339
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
investment process. The Board concluded that, while there could be no guarantee
of future results, the Board was satisfied that HIFSCO and each sub-adviser have
the capability of providing satisfactory investment performance for the Fund.
COMPARISON OF FEES AND SERVICES PROVIDED BY HIFSCO AND THE SUB-ADVISERS
In addition, the Board considered both the investment management fees to be paid
by the Fund to HIFSCO and the sub-advisory fees to be paid by HIFSCO to the
sub-advisers under the agreements. In doing so, the Board reviewed both the
Adviser Materials and comparative information on investment management fees paid
by similar funds. In particular, the Board considered that the proposed
investment management fee was competitive when compared to the fees of the
Fund's peer group. The Board considered the quality of the services to be
performed for the Fund by HIFSCO and the sub-advisers, including each
sub-adviser's research and fundamental analysis capabilities. The Board also
considered the long term experience of HIFSCO and the sub-advisers, the
compliance structure and systems established by HIFSCO and the sub-advisers, and
the financial viability of HIFSCO and the sub-advisers. In addition, the Board
reviewed information regarding HIFSCO's cost to provide investment management
services to the Fund and HIFSCO's profit margin, both over all and as to profits
expected from management of the Fund. In the case of the sub-advisers, the Board
considered HIFSCO's representation that it had negotiated the sub-advisers' fees
at arm's length, and that the fees that HIFSCO would pay to the sub-advisers
were comparable to fees charged by the sub-advisers to other institutional
clients. Based on these considerations, the Board concluded that the management
fees to be paid to HIFSCO and the sub-advisers were fair and reasonable. The
Board also concluded that, under all the circumstances, the profitability
reasonably expected to be realized by HIFSCO with respect to the Fund would not
be excessive.
ECONOMIES OF SCALE
The Board considered the extent to which economies of scale would be realized as
the Fund grows and whether fee levels reflect these economies of scale for the
benefit of the Fund's investors. The Board considered HIFSCO's representations
that the Fund could be expected to achieve some economies as certain fixed
expenses are spread over a larger asset base, noting that there is no precise
way to measure such economies, and that certain expenses do not necessarily
decrease as assets increase. With respect to economies of scale, the Board
considered the breakpoints in the Fund's management fee and sub-advisory fee
schedules and how any benefits from economies of scale would be realized by the
various parties. The Board reviewed materials providing comparative breakpoint
information for other fund groups. The Board concluded that it was satisfied
with the extent to which economies of scale would be shared for the benefit of
the Fund's investors.
OTHER BENEFITS
The Board considered other benefits to HIFSCO, the sub-advisers and their
affiliates from their relationships with the Fund. The Board reviewed
information noting that HIFSCO and its affiliates will receive fees for fund
accounting and other services. The Board also reviewed the fact that Hartford
Administrative Services Company, the Fund's transfer agent, will receive
transfer agency compensation from the Fund. In addition, the Board considered
benefits to the sub-advisers from their proposed use of the Fund's brokerage
commissions to obtain research that could be used for the sub-advisers' clients
other than the Fund, and representations from HIFSCO and the sub-advisers that
the sub-advisers would not be making any revenue-sharing payments or any other
type of distribution payments to HIFSCO or its affiliates.
The Board considered a number of other factors, including, among others,
HIFSCO's and each sub-adviser's entrepreneurial risk, HIFSCO's efforts in making
a full array of mutual funds available to shareholders within the Hartford fund
family, and HIFSCO's commitment to providing a complete investment program with
innovative opportunities designed to meet the needs of shareholders.
* * * *
Based upon its review of these various factors, among others, the Board
concluded that it is in the best interests of the Fund and its shareholders for
the Board to approve the investment management agreement and investment
sub-advisory agreements for the Fund. In reaching this decision, the Board did
not assign relative weights to the factors discussed above or deem any one or
group of them to be controlling in and of themselves. In connection with their
deliberations, the Board met separately in executive session and with
independent legal counsel to review the relevant materials and consider their
responsibilities under relevant laws and regulations.
340
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
RETIREMENT INCOME FUND, TARGET RETIREMENT 2010 FUND, TARGET RETIREMENT 2020 FUND
AND TARGET RETIREMENT 2030 FUND
(FOR PURPOSES OF THIS SECTION, THE TERM "FUNDS" SHALL REFER ONLY TO RETIREMENT
INCOME FUND, TARGET RETIREMENT 2010 FUND, TARGET RETIREMENT 2020 FUND AND TARGET
RETIREMENT 2030 FUND)
At a meeting held on May 3-4, 2005, the Board of Directors unanimously voted to
approve the investment management agreement between Retirement Income Fund,
Target Retirement 2010 Fund, Target Retirement 2020 Fund and Target Retirement
2030 Fund (collectively, the "Funds") and HIFSCO and the investment sub-advisory
agreement between HIFSCO and the Funds' sub-adviser ("sub-adviser") -- Hartford
Investment Management Company ("Hartford Investment") (collectively, the
"agreements") relating to the Funds. In this regard, the Board requested and
reviewed materials concerning the Funds from HIFSCO and Hartford Investment (the
"Adviser Materials"), and received several in-person presentations about the
Funds by the Funds' officers, and representatives of HIFSCO and Hartford
Investment at meetings on February 1, 2005 and May 3-4, 2005. In determining to
approve the agreements, the Board considered the following categories of
material factors, among others, relating to the agreements.
NATURE, EXTENT AND QUALITY OF SERVICES
The Board considered the nature, extent, and quality of the services to be
provided to the Funds by HIFSCO and Hartford Investment. The Board discussed
each Fund's strategy and fund-of-funds structure, and HIFSCO's intention to
retain Ibbotson, a third-party consulting firm, to provide research and
recommendations on allocation decisions made by the Funds, and concluded that
the Funds had merit as additions to the Hartford family of funds. The Board
considered, among other things, HIFSCO's and Hartford Investment's
organizational structure, personnel, capacity, investment process, and
regulatory/compliance history. The Board also considered the recent experience
of Hartford Investment personnel in managing other funds of funds, and their
experience with Ibbotson in connection with those funds. The Board further
considered its past experiences with HIFSCO and Hartford Investment with respect
to the services each firm has provided to other Hartford-sponsored funds in the
past, including HIFSCO's management and monitoring of the funds' sub-advisers,
the quality of HIFSCO's and Hartford Investment's communications with the Board,
the compliance structure and systems established by both HIFSCO and Hartford
Investment, and each firm's responsiveness to Board inquiries. The Board
concluded that it was satisfied with the nature, extent and quality of the
services to be provided to the Funds by HIFSCO and Hartford Investment.
PERFORMANCE OF THE FUNDS, HIFSCO, AND THE SUB-ADVISER
As the Funds are new mutual funds, there was no performance history of the Funds
for the Board to review. However, the Board considered information from Hartford
Investment on the experience of the portfolio management team and the process to
be used for selecting underlying mutual funds by Hartford Investment, including
information about the investment performance of the underlying funds. The Board
also considered information from management on the strong impact that
asset-allocation decisions are expected to have on the Funds' performance and
Ibbotson's qualifications in this area. The Board concluded that, while there
could be no guarantee of future results, the Board was satisfied that HIFSCO and
Hartford Investment have the capability of providing satisfactory investment
performance for the Funds.
COMPARISON OF FEES AND SERVICES PROVIDED BY HIFSCO AND THE SUB-ADVISER
The Board considered both the investment management fees to be paid by the Funds
to HIFSCO and the sub-advisory fees to be paid by HIFSCO to Hartford Investment
under the agreements. In doing so, the Board reviewed both the Adviser Materials
and comparative information on investment management fees paid by similar funds.
In considering the investment management fees to be paid by the Funds, the Board
considered the quality of the services to be performed for the Funds by HIFSCO
and Hartford Investment, and the financial viability of HIFSCO and Hartford
Investment. The Board also considered the expense caps that HIFSCO agreed to
place on the Funds, and that the management fees related to the Funds were
competitive as compared to other asset allocation funds, given the value of the
services to be provided and the expense caps. The Board further considered that
shareholders of the Funds indirectly will pay the investment management fees of
the underlying funds in which the Funds invest. The Board noted HIFSCO's
representation that the investment management fees to be paid by the Funds under
the agreements are based on services provided in addition to, rather than
duplicative of, services provided to the underlying funds. In addition, the
Board reviewed information regarding HIFSCO's and Hartford Investment's cost to
provide investment management services to the Funds, including the cost of
consulting services to be
341
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
provided by Ibbotson. The Board also considered HIFSCO's profitability, both
over all and as to profits expected from management of the Funds. Based on these
considerations, the Board concluded that the investment management fees to be
paid to HIFSCO and Hartford Investment were fair and reasonable. The Board also
concluded that, under all the circumstances, the profitability reasonably
expected to be realized by HIFSCO with respect to the Funds would not be
excessive.
ECONOMIES OF SCALE
The Board considered the extent to which economies of scale would be realized as
the Funds grow and whether fee levels reflect these economies of scale for the
benefit of the Funds' investors. The Board considered HIFSCO's representations
that the Funds could be expected to achieve some economies as certain fixed
expenses are spread over a larger asset base, noting that there is no precise
way to measure such economies, and that certain expenses do not necessarily
decrease as assets increase. With respect to economies of scale, the Board
considered the breakpoints in each Fund's management fee schedule and how any
benefits from economies of scale would be realized by the various parties. The
Board also considered the potential impact on the breakpoint schedules of
underlying funds that may benefit from investments by the Funds. The Board
reviewed materials providing comparative breakpoint information for other fund
groups. The Board concluded that it was satisfied with the extent to which
economies of scale would be shared for the benefit of the Funds' investors.
OTHER BENEFITS
The Board considered other benefits to HIFSCO, Hartford Investment and their
affiliates from their relationships with the Funds. The Board reviewed
information noting that HIFSCO and its affiliates may receive fees for fund
accounting and other services. The Board also reviewed the fact that Hartford
Administrative Services Company, the Funds' transfer agent, will receive
transfer agency compensation from the Funds. The Board also considered the
indirect benefits to HIFSCO, Hartford Investment and their affiliates from fees
they may realize on underlying funds in which the Funds will invest.
The Board considered a number of other factors, including, among others,
HIFSCO's and Hartford Investment's entrepreneurial risk, HIFSCO's efforts in
making a full array of mutual funds available to shareholders within the
Hartford fund family, and HIFSCO's commitment to providing a complete investment
program with innovative opportunities designed to meet the needs of
shareholders.
* * * *
Based upon its review of these various factors, among others, the Board
concluded that it is in the best interests of the Funds and their shareholders
for the Board to approve the investment management agreement and investment
sub-advisory agreement for the Funds. In reaching this decision, the Board did
not assign relative weights to the factors discussed above or deem any one or
group of them to be controlling in and of themselves. In connection with their
deliberations, the Board met separately in executive session and with
independent legal counsel to review the relevant materials and consider their
responsibilities under relevant laws and regulations.
342
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.
343
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; 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 Life Group Insurance Company, Hartford Lloyd's
Insurance Company; Hartford Mezzanine Investors I, LLC; Hartford Securities
Distribution Company, Inc.; Hartford Series Fund, Inc.; Hartford Specialty
Company; Hartford Specialty Insurance Services of Texas, LLC; Hartford
Underwriters Insurance Company; Hartford-Comprehensive Employee Benefit Service
Company; HL Investment Advisors, LLC; Hartford Life Private Placement, LLC;
M-CAP Insurance Agency, 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.
344
(This page intentionally left blank)
345
(This page intentionally left blank)
346
ITEM 2. CODE OF ETHICS.
Registrant has adopted a code of ethics that applies to Registrant's
principal executive officer, principal financial officer and controller which is
attached as an exhibit.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
The Board of Directors of the Registrant has designated Phillip O. Peterson
as an Audit Committee Financial Expert. Mr. Peterson is considered by the Board
to be an independent director.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Audit fees for Retail Funds N-CSR-2005
Mutual Funds, Inc. Mutual Funds, Inc. II
2005 2004 2005 2004
--------- --------- --------- ---------
a Audit Fees $ 671,800 $ 448,985 $ 117,900 $ 98,215
b Audit related fees $ - $ 30,770 $ - $ 6,730
c Tax Fees $ 142,229 $ 81,641 $ 24,283 $ 17,859
d All other fees $ - $ -
g Non audit fees $ 700,000 $ 112,411 $ 700,000 $ 24,589
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Registrant has a separately designated standing Audit Committee comprised
of the independent directors listed below:
Robert M. Gavin
Sandra S. Jaffee
William P. Johnston
Phillip O. Peterson
ITEM 6. SCHEDULE OF INVESTMENTS
The Schedule of Investments is included as part of the annual report filed
under Item 1 of this form.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may
recommend nominees to the registrant's board of directors since the policy was
last filed in response to this requirement.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the Registrant's Disclosure Controls and
Procedures as of a date within 90 days of the filing date of this
report, the Disclosure Controls and Procedures are effectively
designed to ensure that information required to be disclosed by the
Registrant is recorded, processed, summarized and reported by the date
of this report, including ensuring that information required to be
disclosed in the report is accumulated and communicated to the
Registrant's management, including the Registrant's officers, as
appropriate, to allow timely decisions regarding required disclosure.
(b) There was no change in the Registrant's internal control over
financial reporting that occurred during the Registrant's last fiscal
half year that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial
reporting.
ITEM 12. EXHIBITS.
12(a)(1) Code of Ethics
(a)(2) Section 302 certifications of the principal executive officer and
principal financial officer of Registrant.
(a)(3) 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: December 15, 2005 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: December 15, 2005 By: /s/ David M. Znamierowski
--------------------------------
David M. Znamierowski
Its: President
Date: December 15, 2005 By: /s/ Tamara L. Fagely
--------------------------------
Tamara L. Fagely
Its: Vice President, Controller
and Treasurer
EXHIBIT LIST
12(a)(1) Code of Ethics
99.CERT 12(a)(2) Certifications
(i) Section 302 certification of principal executive
officer
(ii) Section 302 certification of principal financial
officer
99.906CERT 12(a)(3) Section 906 certification of principal executive
officer and principal financial officer