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, 2005 - April 30, 2006
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
(PHOTO OF DAVE ZNAMIEROWSKI)
Dear Fellow Shareholders,
On July 22, 1996, we pledged to build The Hartford Mutual Funds into a fund
family that would provide quality investment products based on integrity and
customer service.
We have worked hard over the past 10 years to honor that pledge.
- - We've single-mindedly focused on seeking superior long-term investment
performance.
- - We've expanded our fund lineup - recently launching The Hartford Inflation
Plus Fund, The Hartford Floating Rate Fund and an assortment of Asset
Allocation and Target Retirement funds - to better meet your investment
needs.
- - We've closed funds when we felt they had grown too large and threatened the
integrity of their investment style.
- - We've invested in shareholder services,allowing customers to make their
investment decisions in person, by phone or through the web.
- - And we elected an independent mutual fund chairperson to maintain the
highest standards in governance.
To be sure, it has been an historic 10 years.
We've weathered bull and bear markets alike; suffered unimaginable domestic
terrorism and natural disasters, and witnessed a veritable explosion in the
medical,communication and technological sectors.
Throughout these events, we have remained faithful to our promise. Please be
assured that we will continue to embrace the highest ethical and customer
focused standards as we move into our second decade.
Thank you for your investing with The Hartford Mutual Funds.
Dave Znamierowski
President, The Hartford Mutual Funds
<Table>
Semi-Annual Report
April 30, 2006 (STAG 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 April 30, 2006:
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 117
The Hartford Focus Fund 125
The Hartford Global Communications Fund 126
The Hartford Global Financial Services Fund 128
The Hartford Global Health Fund 130
The Hartford Global Leaders Fund 132
The Hartford Global Technology Fund 135
The Hartford Growth Allocation Fund 137
The Hartford Growth Fund 138
The Hartford Growth Opportunities Fund 140
The Hartford High Yield Fund 142
The Hartford Income Allocation Fund 148
The Hartford Income Fund 149
The Hartford Inflation Plus Fund 159
The Hartford International Capital Appreciation Fund 160
The Hartford International Opportunities Fund 163
The Hartford International Small Company Fund 166
The Hartford MidCap Fund 169
The Hartford MidCap Value Fund 171
The Hartford Money Market Fund 173
The Hartford Retirement Income Fund 175
The Hartford Select MidCap Growth Fund 176
The Hartford Select MidCap Value Fund 179
The Hartford Select SmallCap Growth Fund 181
The Hartford Short Duration Fund 184
The Hartford Small Company Fund 189
The Hartford SmallCap Growth Fund 191
The Hartford Stock Fund 194
The Hartford Target Retirement 2010 Fund 196
The Hartford Target Retirement 2020 Fund 197
The Hartford Target Retirement 2030 Fund 198
The Hartford Tax-Free California Fund 199
The Hartford Tax-Free Minnesota Fund 202
The Hartford Tax-Free National Fund 204
The Hartford Tax-Free New York Fund 209
The Hartford Total Return Bond Fund 211
The Hartford U.S. Government Securities Fund 219
The Hartford Value Fund 221
The Hartford Value Opportunities Fund 223
Statements of Assets and Liabilities at April 30, 2006 226
Statements of Operations for the Six-Month Period Ended April 30,
2006 236
Statements of Changes in Net Assets for the Six-Month Period Ended
April 30, 2006 (Unaudited) and for the Period Ended October 31,
2005 246
Notes to Financial Statements 262
Financial Highlights 289
Directors and Officers (Unaudited) 323
Expense Example (Unaudited) 326
Shareholder Meeting Results 332
Approval of Investment Management and Investment Sub-Advisory
Agreements (Unaudited) 333
Privacy Policy 337
The Hartford Advisers Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS MAXIMUM LONG-TERM
TOTAL RETURN.
PERFORMANCE OVERVIEW(3) 7/22/96 - 4/30/06
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 10103 10038
9582 10316 10014
9951 10896 10192
10187 11197 10429
10773 12042 10622
10543 11804 10503
10923 12541 10516
10971 12639 10538
10705 12121 10412
4/97 11123 12844 10565
11589 13625 10663
12031 14235 10791
12750 15367 11121
12156 14507 10997
12666 15301 11170
12484 14791 11349
12888 15475 11408
13000 15740 11528
13126 15914 11690
13698 17062 11667
14177 17935 11703
4/98 14381 18115 11762
14245 17804 11888
14808 18527 12009
14906 18330 12018
13666 15679 12253
14226 16684 12604
14766 18040 12515
15257 19133 12589
15741 20235 12620
16062 21080 12710
15711 20425 12408
16194 21242 12469
4/99 16676 22065 12500
16294 21545 12371
16935 22739 12333
16632 22029 12298
16460 21920 12289
16241 21319 12399
16769 22668 12431
16952 23129 12424
17642 24490 12349
17072 23260 12346
17155 22820 12500
18314 25051 12681
4/00 17961 24298 12619
17690 23799 12608
17997 24386 12865
17839 24005 13001
18525 25495 13185
18034 24149 13235
18087 24047 13318
17539 22152 13546
17802 22261 13813
18112 23050 14045
17404 20950 14189
16720 19623 14254
4/01 17388 21146 14148
17510 21288 14230
17068 20771 14298
17079 20566 14654
16464 19280 14842
15820 17724 14978
16158 18062 15359
16809 19447 15107
16874 19619 14988
16648 19332 15097
16547 18960 15225
16823 19673 14916
4/02 15951 18480 15205
15860 18345 15346
15198 17039 15476
14721 15711 15662
14744 15813 16012
13812 14096 16357
14474 15335 16200
15125 16237 16209
14644 15284 16639
14380 14885 16638
14289 14662 16935
14313 14804 16913
4/03 15027 16022 17093
15638 16866 17579
15759 17081 17509
15817 17383 16775
15978 17721 16885
15923 17533 17420
16445 18524 17199
16561 18687 17245
17258 19666 17415
17351 20027 17573
17490 20305 17788
17315 19999 17951
4/04 17000 19686 17400
17128 19955 17311
17419 20343 17382
16987 19670 17566
17115 19749 17938
17079 19963 18000
17091 20268 18156
17408 21087 17954
17850 21805 18145
17649 21273 18271
17885 21721 18151
17498 21336 18023
4/05 17439 20932 18293
17902 21597 18523
17908 21628 18644
18396 22432 18434
18492 22228 18709
18566 22408 18464
18339 22034 18306
18889 22866 18400
19054 22875 18575
19414 23480 18541
19378 23544 18591
19451 23837 18387
4/06 19620 24157 18329
</Table>
<Table>
--- ADVISERS FUND -- LEHMAN BROTHERS GOVERNMENT/ --- S&P 500 INDEX
$9,450 starting value CREDIT BOND INDEX $10,000 starting value
$19,620 ending value $10,000 starting value $24,157 ending value
$18,329 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ----------------------------------------------------------
Advisers A# 7/22/1996 12.50% 2.44% 7.76%
- ----------------------------------------------------------
Advisers A## 7/22/1996 6.32% 1.29% 7.14%
- ----------------------------------------------------------
Advisers B# 7/22/1996 11.70% 1.70% NA*
- ----------------------------------------------------------
Advisers B## 7/22/1996 6.70% 1.33% NA*
- ----------------------------------------------------------
Advisers C# 7/22/1996 11.80% 1.80% 7.04%
- ----------------------------------------------------------
Advisers C## 7/22/1996 10.80% 1.80% 7.04%
- ----------------------------------------------------------
Advisers Y# 7/22/1996 13.03% 2.95% 8.27%
- ----------------------------------------------------------
</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
PETER I. HIGGINS, CFA
Vice-President
CHRISTOPHER L. GOOTKIND
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Advisers Fund Class A, before sales charge, returned 6.98% for the
six-month period ended April 30, 2006, versus returns of 9.64% for the S&P 500
Index, 0.13% for the Lehman Brothers Government/Credit Bond Index and the Lipper
Balanced Portfolio Funds average of 7.45%.
WHY DID THE FUND PERFORM THIS WAY?
US equity indices continued to move higher during the period, as investors
sensed that the Federal Reserve may be close to completing this interest rate
tightening cycle and economic data indicated strong global growth. This positive
sentiment was coupled with continued strong earnings growth as the S&P 500 Index
appeared ready to post its 16th straight quarter of double digit growth in
operating earnings (since 2Q 2002). Propelled by strong economic growth,
Materials, Energy, and Industrials were the strongest performing sectors of the
S&P 500 during the period. Utilities, Health Care, and Consumer Staples were the
worst performing sectors for the period as investors clearly shifted away from
"safe havens" and into more cyclically exposed sectors.
Bond returns were negligibly positive during the period. Interest rates rose
across the yield curve as expectations of future Fed tightening were adjusted
upwards. Growth and commodity-based inflationary measures may push the Fed to
raise short term interest rates above 5%.
The Fund outperformed its benchmark because it added value in two areas: the
asset allocation decision to overweight stocks versus bonds and relative
performance in its equity portion. The Fund's fixed income portion trailed its
Lehman Government/Credit benchmark.
The Fund's equity holdings outperformed during the quarter primarily due to
strong stock selection in Technology and Financials. UBS was the greatest
contributor to returns on both an absolute and benchmark-relative basis. One of
the world's fastest growing and most profitable wealth managers, UBS continues
to improve its mix of business towards the higher multiple wealth management
business. Technology stocks Nokia and Samsung were also strong contributors, as
Nokia demonstrated an ability to gain share and improve profitability and
Samsung benefited from its leading position in Flash memory.
1
- --------------------------------------------------------------------------------
Stock selection in the Materials and Energy sectors hurt returns relative to the
benchmark. The largest detractor from returns on both an absolute and relative
basis was XM Satellite, which struggled controlling costs per gross subscriber
add during the period. Medtronic also negatively contributed to results, as
product recalls at a Cardiac Rhythm Devices competitor caused an overall
slowdown in the market impacting the Medtronic's business as well. In addition,
indications of a cut in government reimbursement rates have added to the
controversy. Dow Chemical detracted from results as it struggled with passing on
higher energy prices.
Within fixed income, the Fund's slightly longer-than-benchmark duration and
yield curve positioning detracted from returns. The Fund benefited from an
overweight position in Mortgage Backed Securities (MBS) as pass-throughs and
commercial mortgage backed securities posted strong excess returns during the
period. In addition, the Fund benefited from a tactical investment in 20 year
Treasury Inflation Protected Securities (TIPS) from exposure to credit and
structured securities.
WHAT IS THE OUTLOOK?
As a result of our bottom-up investment approach, at period end the Fund's
largest equity overweights were in the Consumer Discretionary and Health Care
sectors. Our largest underweights were in Consumer Staples, Financials, Energy,
and Industrials. At the end of the period the Fund held 65% in equities.
COMPOSITION BY SECTOR
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
SECTOR NET ASSETS
- -------------------------------------------------------------------
Common Stock 65.4%
- -------------------------------------------------------------------
Asset Backed and Commercial Mortgage Securities 5.1
- -------------------------------------------------------------------
Corporate Bonds: Investment Grade 11.9
- -------------------------------------------------------------------
Municipal Bonds 0.2
- -------------------------------------------------------------------
U.S. Government Securities 13.7
- -------------------------------------------------------------------
U.S. Government Agencies 1.3
- -------------------------------------------------------------------
Short-Term Investments 17.2
- -------------------------------------------------------------------
Other Assets & Liabilities -14.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.0%
- -------------------------------------------------------------------
Capital Goods 1.9
- -------------------------------------------------------------------
Consumer Cyclical 6.0
- -------------------------------------------------------------------
Consumer Staples 4.7
- -------------------------------------------------------------------
Energy 5.4
- -------------------------------------------------------------------
Finance 24.1
- -------------------------------------------------------------------
General Obligations 0.2
- -------------------------------------------------------------------
Health Care 9.7
- -------------------------------------------------------------------
Services 6.9
- -------------------------------------------------------------------
Technology 18.7
- -------------------------------------------------------------------
Transportation 0.3
- -------------------------------------------------------------------
U.S. Government Agencies 1.3
- -------------------------------------------------------------------
U.S. Government Securities 13.7
- -------------------------------------------------------------------
Utilities 1.7
- -------------------------------------------------------------------
Short-Term Investments 17.2
- -------------------------------------------------------------------
Other Assets & Liabilities -14.8
- -------------------------------------------------------------------
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 - 4/30/06
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
9450 10000
9705 10194
7/04 9318 9857
9280 9897
9592 10004
10/04 9809 10157
10291 10567
10669 10927
1/05 10357 10661
10565 10885
10328 10692
4/05 10073 10490
10442 10823
10612 10838
7/05 11029 11241
11038 11139
11162 11229
10/05 10849 11042
11329 11459
11536 11463
1/06 12127 11766
12041 11798
12280 11945
4/06 12538 12105
</Table>
<Table>
--- AGGRESSIVE GROWTH ALLOCATION FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$12,538 ending value $12,105 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ---------------------------------------------------------------------
Aggressive Growth Allocation A# 5/28/2004 24.47% 15.84%
- ---------------------------------------------------------------------
Aggressive Growth Allocation A## 5/28/2004 17.62% 12.48%
- ---------------------------------------------------------------------
Aggressive Growth Allocation B# 5/28/2004 23.65% 15.06%
- ---------------------------------------------------------------------
Aggressive Growth Allocation B## 5/28/2004 18.65% 13.22%
- ---------------------------------------------------------------------
Aggressive Growth Allocation C# 5/28/2004 23.65% 15.06%
- ---------------------------------------------------------------------
Aggressive Growth Allocation C## 5/28/2004 22.65% 15.06%
- ---------------------------------------------------------------------
</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 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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six month period ended April 30, 2006, The Hartford Aggressive Growth
Allocation Fund (Class A) had a total return, before sales charges, of 15.56%
versus the return of 11.53% for the Lipper Multi-Cap Core Funds Average and
9.64% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve's monetary policy reflected a concern that
strong growth in the U.S. and global economies would lead to inflation. As the
Federal Reserve (the Fed) continued to raise its Target Federal Funds (Fed
Funds) rate, short-term interest rates rose. However, in part due to demand from
domestic and foreign investors, long term rates remained relatively stable
through the end of the year and did not start rising until later into the six
month period ended April 30, 2006. As encouraging economic data in the new year
continued to show strength, investors gained confidence in the U.S. economy's
prospects for future growth. Overseas economies also demonstrated greater
strength during the period, which contributed further to an improvement in
sentiment among U.S. businesses. Although many commodities reached historical
highs, the price of oil approached the record level reached after Hurricanes
Katrina and Rita, and the potential for inflation increased as the economy
strengthened, businesses continued to increase hiring and making capital
expenditures.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing groups of the
period. The positive economic backdrop particularly benefited small caps, as
measured by the Russell 2000 Index. They outpaced their large cap counterparts,
gaining 18.91% for the period. International equities, as measured by the MSCI
EAFE Index (a common proxy for foreign stock markets) were the strongest
performing equity category, returning 22.89% for the period. International
equities were supported by strong global growth and concern regarding a
weakening US dollar.
The Fund's target asset allocation is structured around five equity indices. As
investors became more confident in the strength of the global economy, they were
willing to accept more risk and sought
3
- --------------------------------------------------------------------------------
greater returns from the traditionally more volatile foreign, small and mid
capitalization equity styles to domestic large cap equities. For the period, the
MSCI EAFE (up 22.89%) was the top performing index, followed by the small cap
Russell 2000 (up 18.91%), the Russell Midcap (up 14.35%), the Russell 1000 Value
(up 12.87%) and the Russell 1000 Growth (up 7.06%). The Funds higher allocation
to the traditionally more volatile asset classes was the greatest contributor to
the Fund's outperformance relative to its benchmark. Although the Fund typically
uses cash flows to rebalance the Fund, a hard rebalance was performed in
February due to the strong performance by certain asset classes. While there are
trading costs that occur when a hard rebalance is instituted, we believe these
expenses had a negligible impact upon performance.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price. While higher interest rates usually put downward pressure upon
equities, companies generate higher profits when the economy is strong. If the
markets continue to favor riskier securities, the structure of the Fund is
likely to benefit, since by design the equity component targets allocations to
mid cap, small cap and international stocks in addition to large cap stocks.
Thus, when "riskier" stocks lead the market, we expect our portfolio will lead
the large cap index. While we may tactically make changes to portfolio
allocations, under normal circumstances our philosophy is to remain true to our
long-term strategic allocations. We expect that the portfolio managers in the
underlying funds will add further value through active management. Whenever
possible, we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 10.8%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 16.9
- -------------------------------------------------------------------
Hartford Dividend and Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 7.9
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 5.0
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 7.1
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 5.9
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 11.9
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 8.0
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 8.0
- -------------------------------------------------------------------
Other Assets & Liabilities 0.6
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S.
BALANCED ALLOCATION FUND S&P 500 INDEX AGGREGATE BOND INDEX
------------------------ ------------- --------------------
5/28/04 9450 10000 10000
9450 10000 10000
9582 10194 10057
7/04 9393 9857 10156
9412 9897 10350
9606 10004 10378
10/04 9748 10157 10465
10022 10567 10382
10291 10927 10477
1/05 10101 10661 10543
10215 10885 10481
10051 10692 10427
4/05 9937 10490 10568
10194 10823 10682
10313 10838 10741
7/05 10542 11241 10643
10609 11139 10779
10677 11229 10668
10/05 10476 11042 10584
10784 11459 10631
10941 11463 10732
1/06 11299 11766 10732
11260 11798 10768
11366 11945 10662
4/06 11531 12105 10643
</Table>
<Table>
--- BALANCED ALLOCATION FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$11,531 ending value $10,000 starting value $12,105 ending value
$10,643 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 4/30/06)
<Table>
<Caption>
SINCE
1 YEAR INCEPTION
- ------------------------------------------------
Balanced Allocation A# 16.04% 10.90%
- ------------------------------------------------
Balanced Allocation A## 9.66% 7.69%
- ------------------------------------------------
Balanced Allocation B# 15.16% 10.10%
- ------------------------------------------------
Balanced Allocation B## 10.16% 8.18%
- ------------------------------------------------
Balanced Allocation C# 15.28% 10.10%
- ------------------------------------------------
Balanced Allocation C## 14.28% 10.10%
- ------------------------------------------------
</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, 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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six month period ended April 30, 2006, The Hartford Balanced Allocation
Fund Class A had a total return, before sales charges, of 10.07% versus the
return of 7.33% for the Lipper Mixed-Asset Target Allocation Moderate Funds
Average and 0.56% for the Lehman Brothers U.S. Aggregate Bond Index and 9.64%
for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing groups of the
period. The positive economic backdrop particularly benefited small caps, as
measured by the Russell 2000 Index. They outpaced their large cap counterparts,
gaining 18.91% for the
5
- --------------------------------------------------------------------------------
period. International equities, as measured by the MSCI EAFE Index (a common
proxy for foreign stock markets) were the strongest performing equity category,
returning 22.89% for the period. International equities were supported by strong
global growth and concern regarding a weakening US dollar.
The Fund was positioned for rising interest rates, maintaining duration less
than the Lehman Aggregate. For the six-month period, this short duration
positioning enhanced overall performance. Within the major sectors of the Lehman
Brothers U.S. Aggregate Index (a proxy for U.S. investment grade bonds), ABS
securities were the top performer, while U.S. Treasuries were the weakest. The
Fund is structured around six fixed income indices. For the period the best
performer was the Lehman Brothers High Yield Index (up 4.95%), followed by the
Credit Suisse Leveraged Loan Index (up 3.46%), Cash (up 2.04%), the Lehman
Brothers 1-3 Year Government Index (up 1.47%), the Lehman Brothers U.S.
Aggregate Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%).
Consequently, the Fund benefited from its diversification since 4 of the 5 other
indices outperformed the Lehman Brothers U.S. Aggregate Index.
The equity component of the asset allocation Fund is structured around five
equity indices. The Fund benefited from its allocation to small cap, mid cap and
international equities as each of these asset classes outperformed domestic
large caps. For the period, the MSCI EAFE (up 22.89%) was the top performing
index, followed by the small cap Russell 2000 (up 18.91%), the Russell Midcap
(up 14.35%), the Russell 1000 Value (up 12.87%) and the Russell 1000 Growth (up
7.06%). The Funds higher allocation to the traditionally more volatile asset
classes was the greatest contributor to the Fund's outperformance relative to
its benchmark. Although the Fund typically uses cash flows to rebalance the
Fund, a hard rebalance was performed in February due to the strong performance
by certain asset classes. While there are trading costs that occur when a hard
rebalance is instituted, we believe these expenses had a negligible impact upon
performance.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
somewhat defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. In addition to large caps, by design the
equity component targets allocations to mid cap, small cap and international
stocks. When these "riskier" stocks lead the market, we expect our portfolio
will lead the large cap index. While we may tactically make changes to
allocations, under normal circumstances our philosophy is to remain true to our
long-term strategic allocations. We expect that the portfolio managers in the
underlying funds will add further value through active management. Whenever
possible, we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 10.0%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 5.0
- -------------------------------------------------------------------
Hartford Dividend and Growth Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 6.0
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 10.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 5.0
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 5.9
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 5.9
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Stock Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 10.9
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 6.0
- -------------------------------------------------------------------
Other Assets & Liabilities 0.7
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
CAPITAL APPRECIATION FUND S&P 500 INDEX RUSSELL 3000 INDEX
------------------------- ------------- ------------------
7/22/96 9450 10000 10000
9667 10103 10078
10593 10316 10384
11302 10896 10949
11671 11197 11149
12531 12042 11936
13017 11804 11792
14118 12541 12444
14031 12639 12458
13368 12121 11894
4/97 13485 12844 12480
16252 13625 13333
17634 14235 13887
19320 15367 14975
19702 14507 14368
21535 15301 15183
20369 14791 14673
20398 15475 15235
20192 15740 15540
19715 15914 15620
21572 17062 16738
22312 17935 17567
4/98 22434 18115 17740
20943 17804 17302
21268 18527 17887
20380 18330 17562
15928 15679 14872
16602 16684 15887
18246 18040 17092
19491 19133 18138
20849 20235 19291
22391 21080 19946
21074 20425 19239
22861 21242 19945
4/99 24157 22065 20846
25127 21545 20450
26495 22739 21483
26812 22029 20832
25873 21920 20595
25413 21319 20068
27026 22668 21327
29528 23129 21924
34767 24490 23323
34372 23260 22409
39951 22820 22616
39831 25051 24388
4/00 35677 24298 23529
33792 23799 22868
37325 24386 23545
36737 24005 23129
40833 25495 24844
39679 24149 23719
38306 24047 23381
34601 22152 21226
37671 22261 21583
39797 23050 22321
37448 20950 20282
35703 19623 18960
4/01 38734 21146 20480
39272 21288 20645
38603 20771 20264
36842 20566 19930
35239 19280 18753
30809 17724 17099
31703 18062 17497
33832 19447 18845
35134 19619 19110
33767 19332 18870
32741 18960 18485
34279 19673 19295
4/02 32163 18480 18283
31756 18345 18071
29140 17039 16770
26590 15711 15437
27129 15813 15510
25052 14096 13880
26905 15335 14985
29179 16237 15892
27103 15284 14994
26459 14885 14627
26104 14662 14386
25709 14804 14537
4/03 27786 16022 15725
29981 16866 16674
30730 17081 16899
31296 17383 17286
32439 17721 17669
32386 17533 17478
34831 18524 18535
35607 18687 18791
38051 19666 19650
38643 20027 20060
39997 20305 20330
39957 19999 20089
4/04 38551 19686 19674
39326 19955 19960
40891 20343 20356
38906 19670 19586
38288 19749 19667
39589 19963 19969
40483 20268 20297
43256 21087 21241
44873 21805 21998
43835 21273 21412
45504 21721 21883
43743 21336 21513
4/05 42455 20932 21046
43703 21597 21843
44558 21628 21996
46779 22432 22898
47173 22228 22680
48843 22408 22878
47988 22034 22450
50579 22866 23323
51649 22875 23344
54281 23480 24124
53775 23544 24167
54585 23837 24585
4/06 56048 24157 24851
</Table>
<Table>
--- CAPITAL APPRECIATION FUND --- S&P 500 INDEX -- RUSSELL 3000 INDEX
$9,450 starting value $10,000 starting value $10,000 starting value
$56,048 ending value $24,157 ending value $24,851 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
RUSSELL 3000 INDEX is an unmanaged index that measures the performance of the
3,000 largest U.S. companies based on total capitalization.
The Fund has changed its benchmark from the S&P 500 Index to the Russell 3000
Index because the Fund's investment manager believes that the Russell 3000 Index
is better suited to the investment strategy of the Fund.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ---------------------------------------------------------
Cap App A# 7/22/1996 32.01% 7.66% 19.97%
- ---------------------------------------------------------
Cap App A## 7/22/1996 24.75% 6.45% 19.28%
- ---------------------------------------------------------
Cap App B# 7/22/1996 30.97% 6.87% NA*
- ---------------------------------------------------------
Cap App B## 7/22/1996 25.97% 6.56% NA*
- ---------------------------------------------------------
Cap App C# 7/22/1996 31.10% 6.97% 19.18%
- ---------------------------------------------------------
Cap App C## 7/22/1996 30.10% 6.97% 19.18%
- ---------------------------------------------------------
Cap App Y# 7/22/1996 32.63% 8.26% 20.57%
- ---------------------------------------------------------
</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 Class A, before sales charge, returned
16.79% for the six-month period ended April 30, 2006. The Fund's performance
outpaced the 10.70% return for the Russell 3000, the return of 9.64% for the S&P
500 Index and the 11.5% return of the Lipper Multi-Cap Core Average.
WHY DID THE FUND PERFORM THIS WAY?
US equity markets rose during the period, supported by strength in corporate
earnings, a solidifying global economy, and benign inflation. For the six months
ended April 30, large cap stocks substantially trailed small cap and mid cap
stocks, when measured using the S&P 500, Russell 2000, and S&P 400 indexes,
respectively. Every sector within the Fund's Russell 3000 benchmark rose, led by
Materials and Industrials. Utilities and Health Care stocks, up only modestly
during the period, lagged the broader market.
Relative performance was strong across the board, as the Fund added value in all
ten economic sectors. Topping the list was the Financials sector, with strong
relative and absolute contributions from Brazilian bank Unibanco, Chinese
insurance company China Life Insurance, and Japanese integrated financial firm
Orix. Other leading sectors included Energy and Technology. Favorable results in
Energy were powered by relative and absolute outperformance from Canadian
uranium producer Cameco and US oilfield services company Weatherford. Top
performers in Technology included Korean electronics giant Samsung and U.S.
glass substrate maker Corning. Shares of Corning rose in concert with strong
flat panel television sales and improving prospects for its other divisions,
while Samsung benefited from continued growth in demand for NAND flash memory.
The Fund's top contributors are geographically diverse companies that are
benefiting from continued global expansion, but they are also in areas seeing
significant local growth. China is continuing to expand at a rapid pace, fueling
business opportunities for local and global companies. Brazil, with its natural
resources, falling
7
- --------------------------------------------------------------------------------
inflation, and pro-business government, is one of the leading emerging markets.
The US continues to expand despite the headwinds of higher interest rates and
rising oil prices. Access to these leading companies across the globe is an
important component of our ability to provide attractive long-term results.
Despite broad strength in Fund results, several stocks detracted from absolute
and relative performance during the period. Chemical company Dow Chemical was
pressured by falling volumes and rising costs at period end; we retained our
position due to the firm's transition to a less capital-intensive structure,
which should increase cash flow going forward. Another chemicals company,
Lyondell, was impacted by an unfavorable lead paint ruling. We exited our
position in the stock. Shares in NAND flash memory company SanDisk fell when the
company announced plans to cut prices aggressively. We retained our position as
we believe the price cuts will spur long-term volume and revenue growth. The
Fund was also negatively impacted on a relative basis by a position in Wellpoint
Health.
WHAT IS THE OUTLOOK?
Economic growth continues to surprise on the upside. Recent GDP figures have
been volatile, but the rate of expansion heading into 2006 was very strong, and
we expect first quarter data to show a continuation of this trend. While the
economic drag of a more restrictive Fed, higher energy prices, and slowing
housing markets should dampen U.S. growth, over the near term, the momentum of
the global economy is countering many of the headwinds in the U.S. Our ability
to look for the best stocks globally enables us to position the portfolio
favorably in such an environment.
We continue to focus our efforts on picking stocks one-at-a-time based upon
detailed fundamental research. At the end of the quarter, the Portfolio held
greater-than-index weights in Materials, Telecommunication Services, and Energy,
and lower-than-index weights in Consumer Staples, Utilities, and Financials. We
closed the period with 113 names, an asset-weighted market capitalization of
$63.2 billion, and 24% of the Fund in non-US stocks.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 8.6%
- -------------------------------------------------------------------
Capital Goods 6.8
- -------------------------------------------------------------------
Consumer Cyclical 4.2
- -------------------------------------------------------------------
Consumer Staples 1.9
- -------------------------------------------------------------------
Energy 8.3
- -------------------------------------------------------------------
Finance 20.4
- -------------------------------------------------------------------
Health Care 7.7
- -------------------------------------------------------------------
Services 9.0
- -------------------------------------------------------------------
Technology 24.8
- -------------------------------------------------------------------
Transportation 2.4
- -------------------------------------------------------------------
Utilities 0.4
- -------------------------------------------------------------------
Short-Term Investments 13.1
- -------------------------------------------------------------------
Other Assets & Liabilities -7.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 0.7%
- -------------------------------------------------------------------
Brazil 2.1
- -------------------------------------------------------------------
Canada 3.9
- -------------------------------------------------------------------
China 0.6
- -------------------------------------------------------------------
Germany 1.3
- -------------------------------------------------------------------
Greece 0.2
- -------------------------------------------------------------------
India 1.8
- -------------------------------------------------------------------
Ireland 0.5
- -------------------------------------------------------------------
Israel 0.9
- -------------------------------------------------------------------
Italy 0.3
- -------------------------------------------------------------------
Japan 1.8
- -------------------------------------------------------------------
Luxembourg 1.0
- -------------------------------------------------------------------
Mexico 1.0
- -------------------------------------------------------------------
Russia 0.6
- -------------------------------------------------------------------
South Korea 2.1
- -------------------------------------------------------------------
Switzerland 0.5
- -------------------------------------------------------------------
Taiwan 0.5
- -------------------------------------------------------------------
Turkey 0.8
- -------------------------------------------------------------------
United Kingdom 3.0
- -------------------------------------------------------------------
United States 70.9
- -------------------------------------------------------------------
Short Term Investments 13.1
- -------------------------------------------------------------------
Other Assets & Liabilities -7.6
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
CAPITAL APPRECIATION II FUND RUSSELL 3000 INDEX S&P 500 INDEX
---------------------------- ------------------ -------------
4/29/05 9450 10000 10000
9450 10000 10000
9809 10379 10318
6/05 10008 10451 10333
10452 10880 10717
8/05 10518 10776 10619
10669 10871 10705
10/05 10461 10667 10526
10890 11082 10924
12/05 11225 11092 10928
11972 11463 11217
2/06 11838 11483 11248
12068 11682 11388
4/06 12460 11808 11541
</Table>
<Table>
--- CAPITAL APPRECIATION II --- RUSSELL 3000 INDEX -- S&P 500 INDEX
FUND $10,000 starting value $10,000 starting value
$9,450 starting value $11,808 ending value $11,541 ending value
$12,460 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements
from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ---------------------------------------------------
Cap App II A# 4/29/2005 31.86% 31.76%
- ---------------------------------------------------
Cap App II A## 4/29/2005 24.61% 24.53%
- ---------------------------------------------------
Cap App II B# 4/29/2005 30.95% 30.86%
- ---------------------------------------------------
Cap App II B## 4/29/2005 25.95% 26.87%
- ---------------------------------------------------
Cap App II C# 4/29/2005 31.05% 30.96%
- ---------------------------------------------------
Cap App II C## 4/29/2005 30.05% 30.96%
- ---------------------------------------------------
Cap App II Y# 4/29/2005 32.46% 32.36%
- ---------------------------------------------------
</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 Class A, before sales charge, returned
19.11% for the sixth-month period ended April 30, 2006. The Fund's return
exceeded both the 10.70% return of the Russell 3000 Index and the 11.6% return
of the Lipper Multi-Cap Growth Funds Average.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets rose during the period, supported by strength in corporate
earnings, a solidifying global economy, and benign inflation. For the six months
ended April 30, large cap stocks substantially trailed small cap and mid cap
stocks, when measured using the S&P 500, Russell 2000, and S&P 400 indexes,
respectively. Every sector within the Fund's Russell 3000 benchmark rose, led by
Materials and Industrials. Utilities and Health Care stocks, up only modestly
during the period, lagged the broader market.
Positive stock selection in nine of ten economic sectors contributed to the
Fund's outperformance relative to the benchmark. Technology, Materials, and
Energy were the areas of greatest relative strength. The Fund's top contributors
to both absolute and relative performance were uranium producer Cameco and
Brazilian discount airline GOL Linhas. Cameco shares increased on continued high
demand for uranium in a supply-constrained environment; GOL rose on strong
financial results despite high fuel prices. Other significant contributors to
relative returns included metals and mining company Vedanta Resources, hybrid
seed producer Origin Agritech, and global bank UBS. Positive contributors to
absolute returns also included glass substrate maker Corning and aluminum giant
Alcoa. Corning rose in concert with
9
- --------------------------------------------------------------------------------
strong flat panel television sales and improving prospects for its other
divisions; shares in Alcoa gained when the company reported a strong first
quarter based in part on operating leverage to improving commodity prices.
While performance was strong across the board, there were some pockets of
weakness. The largest underperformers on an absolute basis were Sirius Satellite
and Foxhollow Technologies. Satellite radio provider Sirius Satellite declined
on management guidance for subscriber acquisition costs that were higher than
market expectations. Shares of Foxhollow Technology, a medical device
manufacturer, fell on the announcement that their CEO was retiring, raising
concerns that spending levels will rise precipitously in 2006. Relative to the
benchmark, the Fund was negatively impacted by positions in pharmaceutical firm
Schering-Plough and internet services company Yahoo!.
WHAT IS THE OUTLOOK?
The Hartford Capital Appreciation II Fund is multi-managed 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, Consumer Discretionary, Materials, and Health Care
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-US stocks represented 29% of assets. This positioning is
primarily the result of bottom-up fundamental analysis, rather than from
top-down, macro-economic themes.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 11.1%
- -------------------------------------------------------------------
Capital Goods 4.6
- -------------------------------------------------------------------
Consumer Cyclical 9.2
- -------------------------------------------------------------------
Consumer Staples 2.5
- -------------------------------------------------------------------
Energy 6.8
- -------------------------------------------------------------------
Finance 14.1
- -------------------------------------------------------------------
Health Care 11.7
- -------------------------------------------------------------------
Services 9.2
- -------------------------------------------------------------------
Technology 20.0
- -------------------------------------------------------------------
Transportation 3.0
- -------------------------------------------------------------------
Utilities 1.0
- -------------------------------------------------------------------
Short Term Investments 5.2
- -------------------------------------------------------------------
Other Assets & Liabilities 1.6
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 1.3%
- -------------------------------------------------------------------
Austria 0.3
- -------------------------------------------------------------------
Bermuda 0.2
- -------------------------------------------------------------------
Brazil 1.9
- -------------------------------------------------------------------
Canada 5.1
- -------------------------------------------------------------------
China 0.8
- -------------------------------------------------------------------
Finland 1.1
- -------------------------------------------------------------------
France 3.3
- -------------------------------------------------------------------
Germany 0.5
- -------------------------------------------------------------------
Greece 0.1
- -------------------------------------------------------------------
Hong Kong 0.2
- -------------------------------------------------------------------
India 0.2
- -------------------------------------------------------------------
Israel 0.2
- -------------------------------------------------------------------
Italy 0.8
- -------------------------------------------------------------------
Japan 3.4
- -------------------------------------------------------------------
Mexico 0.5
- -------------------------------------------------------------------
Netherlands 0.8
- -------------------------------------------------------------------
South Africa 0.1
- -------------------------------------------------------------------
South Korea 0.1
- -------------------------------------------------------------------
Spain 0.5
- -------------------------------------------------------------------
Sweden 0.3
- -------------------------------------------------------------------
Switzerland 1.9
- -------------------------------------------------------------------
Turkey 0.2
- -------------------------------------------------------------------
United Kingdom 3.6
- -------------------------------------------------------------------
United States 65.8
- -------------------------------------------------------------------
Short-Term Investments 5.2
- -------------------------------------------------------------------
Other Assets & Liabilities 1.6
- -------------------------------------------------------------------
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 - 4/30/06
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
9431 9857 10156
8/04 9497 9897 10350
9606 10004 10378
10/04 9729 10157 10465
9900 10567 10382
12/04 10087 10927 10477
9982 10661 10543
2/05 10068 10885 10481
9929 10692 10427
4/05 9872 10490 10568
10054 10823 10682
6/05 10136 10838 10741
10271 11241 10643
8/05 10348 11139 10779
10357 11229 10668
10/05 10212 11042 10584
10422 11459 10631
12/05 10559 11463 10732
10806 11766 10732
2/06 10786 11798 10768
10823 11945 10662
4/06 10922 12105 10643
</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 $12,105 ending value
$10,922 ending value $10,643 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund 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 4/30/06)
<Table>
<Caption>
SINCE
1 YEAR INCEPTION
- ----------------------------------------------------
Conservative Allocation A# 10.64% 7.82%
- ----------------------------------------------------
Conservative Allocation A## 4.56% 4.69%
- ----------------------------------------------------
Conservative Allocation B# 10.02% 7.17%
- ----------------------------------------------------
Conservative Allocation B## 5.02% 5.21%
- ----------------------------------------------------
Conservative Allocation C# 9.92% 7.12%
- ----------------------------------------------------
Conservative Allocation C## 8.92% 7.12%
- ----------------------------------------------------
</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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six month period ended April 30, 2006, The Hartford Conservative
Allocation Fund Class A had a total return, before sales charges, of 6.96%
versus the return of 4.19% for the Lipper Mixed-Asset Target Allocation
Conservative Funds Average and 0.56% for the Lehman Brothers U.S. Aggregate Bond
Index and 9.64% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing
11
- --------------------------------------------------------------------------------
groups of the period. The positive economic backdrop particularly benefited
small caps, as measured by the Russell 2000 Index. They outpaced their large cap
counterparts, gaining 18.91% for the period. International equities, as measured
by the MSCI EAFE Index (a common proxy for foreign stock markets) were the
strongest performing equity category, returning 22.89% for the period.
International equities were supported by strong global growth and concern
regarding a weakening US dollar.
The Fund was positioned for rising interest rates, maintaining duration of less
than the Lehman Aggregate. For the six-month period, this short duration
positioning enhanced overall performance. Within the major sectors of the Lehman
Brothers U.S. Aggregate Index (a proxy for U.S. investment grade bonds), ABS
securities were the top performer, while U.S. Treasuries were the weakest. The
Fund is structured around six fixed income indices. For the period the best
performer was the Lehman Brothers High Yield Index (up 4.95%), followed by the
Credit Suisse Leveraged Loan Index (up 3.46%), Cash (up 2.04%), the Lehman
Brothers 1-3 Year Government Index (up 1.47%), the Lehman Brothers U.S.
Aggregate Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%).
Consequently, the Fund benefited from its diversification since 4 of the 5 other
indices outperformed the Lehman Brothers U.S. Aggregate Index.
The equity component of the Fund is structured around five equity indices. The
Fund benefited from its allocation to small cap, mid cap and international
equities as each of these asset classes outperformed domestic large caps. For
the period, the MSCI EAFE (up 22.89%) was the top performing index, followed by
the small cap Russell 2000 (up 18.91%), the Russell Midcap (up 14.35%), the
Russell 1000 Value (up 12.87%) and the Russell 1000 Growth (up 7.06%). The Funds
higher allocation to the traditionally more volatile asset classes was the
greatest contributor to the Fund's outperformance relative to its benchmark.
Although the Fund typically uses cash flows to rebalance the Fund, a total
rebalance was performed in February due to the strong performance by certain
asset classes. While there are trading costs that occur when a total rebalance
is instituted, we believe these expenses had a negligible impact upon
performance.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
somewhat defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. In addition to large caps, by design the
equity component targets allocations to mid cap, small cap and international
stocks. When these "riskier" stocks lead the market, we expect our portfolio
will lead the large cap index. While we may tactically make changes to
allocations, under normal circumstances our philosophy is to remain true to our
long-term strategic allocations. We expect that the portfolio managers in the
underlying funds will add further value through active management. Whenever
possible, we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 7.9%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 5.9
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 7.0
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 14.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 2.0
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 12.9
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Stock Fund, Class Y 5.0
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 17.0
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 6.0
- -------------------------------------------------------------------
Other Assets & Liabilities 0.3
- -------------------------------------------------------------------
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 - 4/30/06
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
9592 10227
9592 10119
8269 8656
8829 9210
9625 9959
10156 10562
10847 11170
11198 11637
10790 11275
11311 11726
4/99 11652 12181
11416 11893
12145 12552
11889 12161
11719 12100
11368 11769
11861 12513
12177 12768
13104 13519
12359 12840
12330 12597
13648 13829
4/00 13104 13413
12779 13138
13249 13462
13143 13251
14028 14074
13181 13331
13123 13275
12073 12229
12254 12289
12855 12724
11813 11565
11172 10833
4/01 12073 11673
12174 11752
11923 11466
11663 11353
10971 10643
10059 9784
10380 9971
11111 10736
11212 10830
10951 10672
10631 10466
11021 10860
4/02 10250 10202
10150 10127
9298 9406
8657 8673
8707 8730
7755 7782
8446 8466
8897 8963
8396 8437
8116 8217
7985 8094
8036 8172
4/03 8657 8845
9128 9310
9208 9429
9328 9596
9538 9783
9538 9679
10100 10226
10250 10316
10777 10856
10937 11056
11058 11209
10887 11040
4/04 10737 10867
10727 11016
10968 11230
10526 10858
10516 10902
10627 11020
10697 11188
11158 11641
11611 12037
11388 11744
11611 11991
11388 11778
4/05 11187 11555
11590 11922
11722 11940
12146 12383
12115 12270
12237 12370
11893 12163
12338 12623
12315 12627
12618 12962
12608 12997
12730 13159
4/06 12851 13335
</Table>
<Table>
--- DISCIPLINED EQUITY FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$12,851 ending value $13,335 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements
from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------------
Disciplined Eqy A# 4/30/1998 14.88% 1.26% 3.91%
- -----------------------------------------------------------------
Disciplined Eqy A## 4/30/1998 8.56% 0.12% 3.18%
- -----------------------------------------------------------------
Disciplined Eqy B# 4/30/1998 14.12% 0.55% 3.18%
- -----------------------------------------------------------------
Disciplined Eqy B## 4/30/1998 9.12% 0.15% 3.18%
- -----------------------------------------------------------------
Disciplined Eqy C# 4/30/1998 14.11% 0.56% 3.21%
- -----------------------------------------------------------------
Disciplined Eqy C## 4/30/1998 13.11% 0.56% 3.21%
- -----------------------------------------------------------------
Disciplined Eqy Y# 4/30/1998 15.49% 1.80% 4.45%
- -----------------------------------------------------------------
</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 Class A, before sales charge, returned
8.05% for the six-month period ended April 30, 2006, underperforming both the
benchmark S&P 500 Index, which returned 9.64%, and the Lipper Large Cap Core
Average, which returned 9.94%.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets started off the year strong. Investors were encouraged by
low inflation data and remained hopeful that the U.S. Federal Reserve is nearing
an end to interest rate hikes. Record warm weather boosted growth rates from
retail sales to industrial production. Consumer confidence indicators remain
strong and job growth has been steady. However, the U.S. housing market
continued to show signs of weakness. Oil prices reached the mid $60s at the
period end, despite high inventories in North America after a mild winter.
The Fund's underperformance reflected weak stock selection in the Energy and
Telecommunication Services sector, partially offset by strong stock selection in
Health Care and Utilities. In the Energy sector, the Fund was hurt on a relative
basis by our preference for exploration and refining stocks and our avoidance of
energy services stocks like Schlumberger and Halliburton. Energy Services stocks
as a group were up 39% over this period. Other detractors included Microsoft,
Dell, Amgen, and St. Paul Travelers. Shares of computer software maker Microsoft
declined after the company announced plans to increase spending to better
compete with search giant Google. Computer hardware company Dell declined on
poor quarterly revenue growth and concerns about its loss of market share.
Biotechnology firm Amgen fell on investor concern over near term increases in
R&D spending. We believe that these expenditures will improve the product
pipeline and provide for higher growth in the long term. Insurance company St.
Paul Travelers fell on speculation of a possible European acquisition.
Strong stock selection in Health Care, Utilities and Industrials contributed
positively to returns during the six-month period. In Health Care, shares of
biopharmaceuticals company Gilead Sciences rose on the strength of Truvada, a
one-a-day pill to treat HIV, and on positive trends in Tamiflu royalties from
Roche. Other top relative contributors included Office Depot and Lehman
Brothers. Among the top absolute contributors to the Fund were Financials stocks
Bank of America and Citigroup and Information Technology company Corning. Bank
stocks as a group were strong on investor beliefs that the Federal Reserve is
nearing the end of its interest rate increases. Shares of glass
13
- --------------------------------------------------------------------------------
substrate maker Corning rose in concert with strong flat panel television sales
and improving prospects for its other divisions.
WHAT IS THE OUTLOOK?
The consumer appears to be the most vulnerable segment of the U.S. economy due
to high oil prices, higher interest rates and decreasing home prices. However,
new Federal Reserve Chairman Ben Bernanke will hopefully soon see core inflation
comfortably within his "acceptable" range. We believe this moderation in
inflation, together with an increasingly evident deceleration in growth, will
allow the Fed to stop raising rates in the near future.
At the end of the period, the Fund's portfolio held greater-than-index weights
in Industrials, and Information Technology; and lower-than-index weights in
Consumer Discretionary, Utilities, and Financials.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.8%
- -------------------------------------------------------------------
Capital Goods 7.3
- -------------------------------------------------------------------
Consumer Cyclical 7.7
- -------------------------------------------------------------------
Consumer Staples 4.4
- -------------------------------------------------------------------
Energy 10.6
- -------------------------------------------------------------------
Finance 21.4
- -------------------------------------------------------------------
Health Care 11.0
- -------------------------------------------------------------------
Services 9.7
- -------------------------------------------------------------------
Technology 21.7
- -------------------------------------------------------------------
Transportation 1.2
- -------------------------------------------------------------------
Utilities 1.3
- -------------------------------------------------------------------
Short-Term Investments 1.4
- -------------------------------------------------------------------
Other Assets & Liabilities -0.5
- -------------------------------------------------------------------
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 - 4/30/06
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 RUSSELL 1000 VALUE INDEX
------------------------ ------------- ------------------------
7/22/96 9450 10000 10000
9545 10103 10094
9696 10316 10383
10149 10896 10796
10423 11197 11213
10990 12042 12026
10895 11804 11873
11409 12541 12448
11590 12639 12631
11143 12121 12177
4/97 11504 12844 12689
12246 13625 13398
12906 14235 13972
13652 15367 15024
13002 14507 14488
13768 15301 15364
13356 14791 14935
13989 15475 15595
14272 15740 16050
14456 15914 15823
15067 17062 16888
15860 17935 17921
4/98 15773 18115 18041
15510 17804 17774
15672 18527 18001
15555 18330 17684
13567 15679 15052
14416 16684 15916
15436 18040 17149
15897 19133 17948
16338 20235 18559
16180 21080 18707
15935 20425 18443
16327 21242 18825
4/99 17332 22065 20583
16889 21545 20357
17457 22739 20948
16914 22029 20334
16479 21920 19580
16043 21319 18895
16964 22668 19983
16869 23129 19827
17085 24490 19922
16395 23260 19272
15473 22820 17841
17175 25051 20017
4/00 16962 24298 19784
17318 23799 19993
16774 24386 19079
16774 24005 19318
17725 25495 20393
17893 24149 20580
18242 24047 21085
17883 22152 20303
18799 22261 21320
18509 23050 21402
18337 20950 20807
17747 19623 20071
4/01 18653 21146 21056
18966 21288 21529
18478 20771 21051
18597 20566 21007
18002 19280 20165
16831 17724 18746
16842 18062 18585
17750 19447 19665
17940 19619 20128
17984 19332 19973
18260 18960 20005
18745 19673 20952
4/02 17971 18480 20233
18137 18345 20334
17186 17039 19167
15857 15711 17385
15746 15813 17516
14036 14096 15569
15068 15335 16722
16077 16237 17776
15394 15284 17004
14872 14885 16592
14561 14662 16150
14530 14804 16176
4/03 15588 16022 17600
16580 16866 18736
16720 17081 18971
16877 17383 19253
17245 17721 19553
17037 17533 19362
17843 18524 20547
18168 18687 20826
19345 19666 22110
19401 20027 22499
19749 20305 22981
19501 19999 22780
4/04 19310 19686 22223
19321 19955 22450
19811 20343 22980
19361 19670 22656
19530 19749 22979
19865 19963 23335
20080 20268 23723
20934 21087 24922
21668 21805 25757
21130 21273 25299
21885 21721 26138
21447 21336 25779
4/05 20987 20932 25318
21355 21597 25927
21454 21628 26211
22203 22432 26969
22203 22228 26852
22594 22408 27229
22063 22034 26537
22736 22866 27410
22842 22875 27573
23638 23480 28644
23517 23544 28819
23888 23837 29210
4/06 24504 24157 29952
</Table>
<Table>
--- DIVIDEND AND GROWTH --- S&P 500 INDEX -- RUSSELL 1000 VALUE INDEX
FUND $10,000 starting value $10,000 starting value
$9,450 starting value $24,157 ending value $29,952 ending value
$24,504 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
THE RUSSELL 1000 VALUE INDEX is a market cap weighted measure of the performance
of the 1,000 largest value-oriented companies in the Russell 3000 Index, which
represents approximately 92% of the total market capitalization of the Russell
3000 Index. Value is defined as companies with lower price-to-book ratios and
lower forecasted growth values.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Div & Growth A# 7/22/1996 16.76% 5.61% 10.24%
- --------------------------------------------------------------
Div & Growth A## 7/22/1996 10.34% 4.42% 9.60%
- --------------------------------------------------------------
Div & Growth B# 7/22/1996 15.73% 4.77% NA*
- --------------------------------------------------------------
Div & Growth B## 7/22/1996 10.73% 4.44% NA*
- --------------------------------------------------------------
Div & Growth C# 7/22/1996 15.91% 4.90% 9.48%
- --------------------------------------------------------------
Div & Growth C## 7/22/1996 14.91% 4.90% 9.48%
- --------------------------------------------------------------
Div & Growth Y# 7/22/1996 17.31% 6.13% 10.78%
- --------------------------------------------------------------
</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
11.07% for the six-month period ended April 30, 2006. The Fund outperformed both
its benchmark, the S&P 500 Index, which returned 9.64% and the Lipper Equity
Income Average, which returned 11.39%.
WHY DID THE FUND PERFORM THIS WAY?
Overall equity market performance was strong for the period. Global GDP growth
remained strong even with another two Federal Reserve increases in short rates
to 4.75%. However, the U.S. housing market began to show signs of weakness. Oil
prices reached the mid $60s as the period ended, despite high inventories in
North America after a mild winter. The stronger global economies in Asia, led by
China and Japan, were helpful in maintaining strong commodity markets.
The Fund's outperformance relative to the S&P 500 was primarily due to sector
allocation. Our significant overweight to Materials contributed positively to
performance as the sector outperformed the market amid stronger global
economies. Relative performance also benefited from strong stock selection and
an overweight in the Industrials sector.
The Fund's top two contributors to absolute performance over the period were
aluminum company Alcoa and railroad company CSX. Alcoa rose on higher than
expected U.S. spending on building and construction, while shares of CSX moved
higher on good volumes and strong pricing in its railroad operations.
Industrials holdings Parker Hannifin, Deere, and Caterpillar also rose on strong
operating results. Other major contributors were Schlumberger, which rose
sharply on increased spending by oil companies; Weyerhaeuser, which experienced
better linerboard pricing; and mining company Rio Tinto, where shares rose with
commodities market gains.
Detractors from performance included Schering-Plough, FPL Group and Tyson Foods.
Pharmaceutical stock Schering-Plough lagged as investors grew concerned about
the company's pipelines. Utilities holding FPL Group declined due to a merger
with Constellation Energy Group, a mild winter, and weak utility sales. We
reduced our weights in this sector, an area that has approached fair value.
Other stocks that had a negative impact on performance
15
- --------------------------------------------------------------------------------
include Consumer Staples stocks Altria and Kimberly-Clark. The fund's relative
performance was also negatively impacted by not owning communications chip maker
Qualcomm, which rose during the period.
WHAT IS THE OUTLOOK?
Our discipline is focused on identifying industries where the outlook for a
balanced supply and demand model is favorable. In our opinion, the
Telecommunications Services industry fits this model; it is now thoroughly
consolidated and exhibiting growth in demand. We also find media stocks
attractive at current valuations. We believe that the consumer appears to be the
most vulnerable segment of the US economy due to higher oil prices and higher
interest rates.
At the end of the period, the Portfolio held greater-than-index weights in
Energy, Materials, and Utilities, and lower-than-index weights in Consumer
Discretionary, Information Technology, and Health Care.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 7.8%
- -------------------------------------------------------------------
Capital Goods 4.0
- -------------------------------------------------------------------
Consumer Cyclical 6.6
- -------------------------------------------------------------------
Consumer Staples 5.5
- -------------------------------------------------------------------
Energy 16.8
- -------------------------------------------------------------------
Finance 18.2
- -------------------------------------------------------------------
Health Care 8.5
- -------------------------------------------------------------------
Services 6.9
- -------------------------------------------------------------------
Technology 15.4
- -------------------------------------------------------------------
Transportation 2.7
- -------------------------------------------------------------------
Utilities 4.8
- -------------------------------------------------------------------
Short-Term Investments 2.6
- -------------------------------------------------------------------
Other Assets & Liabilities 0.2
- -------------------------------------------------------------------
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 - 4/30/06
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
9450 10063
9403 9965
9800 10575
9944 10718
10613 11379
10546 11579
10736 11827
10623 11723
4/04 10432 11437
10470 11553
10633 11826
10422 11660
10642 11826
10764 12009
10860 12209
11287 12826
11623 13255
11458 13020
11904 13452
11607 13267
4/05 11568 13029
11617 13343
11678 13489
12012 13879
11982 13819
12174 14013
11918 13657
12179 14106
12201 14190
12540 14742
12739 14832
12754 15032
4/06 13244 15414
</Table>
<Table>
--- EQUITY INCOME FUND --- RUSSELL 1000 VALUE INDEX
$9,450 starting value $10,000 starting value
$13,244 ending value $15,414 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------------
Equity Income A# 8/28/2003 14.49% 13.46%
- ------------------------------------------------------
Equity Income A## 8/28/2003 8.20% 11.08%
- ------------------------------------------------------
Equity Income B# 8/28/2003 13.56% 12.52%
- ------------------------------------------------------
Equity Income B## 8/28/2003 8.56% 11.60%
- ------------------------------------------------------
Equity Income C# 8/28/2003 13.71% 12.68%
- ------------------------------------------------------
Equity Income C## 8/28/2003 12.71% 12.68%
- ------------------------------------------------------
Equity Income Y# 8/28/2003 14.97% 14.06%
- ------------------------------------------------------
</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 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 six-month period ended April 30, 2006, The Hartford Equity Income Fund
Class A, before sales charge, returned 11.13%, trailing the Russell 1000 Value
Index return of 12.87%, but outperforming the Lipper Equity Income peer group
average return of 10.67%.
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 5.8%, measured by the Russell 1000 Value index return of 12.9% versus
the Russell 1000 Growth index return of 7.1%. The more cyclical sectors of the
Russell 1000 Value index posted positive gains, with Materials, Industrials and
Financials leading the way. Another major factor affecting the markets was the
continued market cap bias toward smaller cap stocks. The large cap S&P 500 Index
returned 9.6%, compared to the S&P 400 MidCap Index's return of 15.3%.
The Fund's underperformance relative to the benchmark during this period was
primarily due to the combination of unfavorable stock selection and allocation
within Utilities, Materials, Consumer Staples, Energy, Health Care and
Information Technology. The three largest detractors, relative to the benchmark,
were Materials stock Dow Chemical, and Utilities stocks FPL Group and Dominion
Resources. Dow Chemical posted good profit results; however the company was
unable to offset the headwinds of high energy and raw materials costs. The
Utilities sector was weak in light of a mild winter and headwinds from higher
interest rates and a generally overvalued group. FPL shares weakened on news of
a regulatory setback regarding its pending merger with Constellation Energy
Group. Dominion Resources shares struggled due to management's expectations for
increasing exploration and production costs. We trimmed our positions in these
stocks during the period.
Partially offsetting these results was the combination of strong stock selection
and allocation in Industrials, Financials, Consumer Discretionary and
Telecommunications Services. The top three relative contributors were
Caterpillar (Industrials), Alcoa (Materials) and UBS (Financials). During the
period, we took profits in Caterpillar thereby reducing our position
significantly, added to our Alcoa position and initiated a new position in UBS.
WHAT IS THE OUTLOOK?
During the next twelve months, global GDP growth likely will remain in the 3-4%
range, with the U.S. economy decelerating to slightly below 3%. Bearing in mind
that flat yield curves have presaged every U.S. recession since 1954, we expect
an eventual downshift in business activity as a result of the credit tightening.
Another striking capital market feature is the increasing appetite for risk
among investors and the declining trend in market
17
- --------------------------------------------------------------------------------
volatility. We were impressed by the ease with which the Texas Pacific Group was
able to raise $14 billion for a private equity buyout fund in recent weeks,
suggesting capital markets continue to enjoy more than sufficient liquidity. We
suspect the expansionary mode of global capital markets has provided a degree of
offset to the synchronized central bank tightening occurring in the US, Europe,
and now Japan.
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 Consumer Staples, Materials, Utilities,
Industrials, Telecommunications Services and Health Care and underweight
Consumer Discretionary, Financials, Information Technology and Energy.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.0%
- -------------------------------------------------------------------
Capital Goods 6.5
- -------------------------------------------------------------------
Consumer Cyclical 2.4
- -------------------------------------------------------------------
Consumer Staples 6.8
- -------------------------------------------------------------------
Energy 11.2
- -------------------------------------------------------------------
Finance 32.9
- -------------------------------------------------------------------
Health Care 8.2
- -------------------------------------------------------------------
Services 2.0
- -------------------------------------------------------------------
Technology 8.8
- -------------------------------------------------------------------
Utilities 9.4
- -------------------------------------------------------------------
Short-Term Investments 1.9
- -------------------------------------------------------------------
Other Assets & Liabilities -0.1
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
FLOATING RATE FUND CSFB LEVERAGED LOAN INDEX
------------------ -------------------------
4/29/05 9700 10000
5/05 9681 10000
6/05 9799 10000
7/05 9869 10000
8/05 9960 10000
9/05 9984 10000
10/05 9997 10000
11/05 10042 10000
12/05 10100 10000
1/06 10159 10000
2/06 10230 10000
3/06 10292 10000
4/06 10354 10671
</Table>
<Table>
--- FLOATING RATE FUND --- CSFB LEVERAGED LOAN INDEX
$9,700 starting value $10,000 starting value
$10,354 ending value $10,671 ending value
</Table>
CSFB LEVERAGED LOAN INDEX is designed to mirror the investable universe of the
$U.S.-denominated leveraged loan market.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements
from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------------
Floating Rate A# 4/29/2005 6.75% 6.73%
- ------------------------------------------------------
Floating Rate A## 4/29/2005 3.54% 3.53%
- ------------------------------------------------------
Floating Rate B# 4/29/2005 5.91% 5.89%
- ------------------------------------------------------
Floating Rate B## 4/29/2005 0.91% 1.90%
- ------------------------------------------------------
Floating Rate C# 4/29/2005 5.94% 5.92%
- ------------------------------------------------------
Floating Rate C## 4/29/2005 4.94% 5.92%
- ------------------------------------------------------
Floating Rate Y# 4/29/2005 6.94% 6.92%
- ------------------------------------------------------
</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?
For the six-month period ended April 30, 2006, The Hartford Floating Rate Fund
Class A had a total return, before sales charges, of 3.57% versus the Lipper
Loan Participation Average return of 3.12% and the CSFB Leveraged Loan Index
return of 3.46%.
WHY DID THE FUND PERFORM THIS WAY?
In general, market dynamics for the floating rate asset class have continued to
be very favorable, primarily attributable to i.) ongoing increases in short-term
interest rates (which directly boost the current yields of the Fund's holdings),
and ii.) the steady economic performance of the United States and other major
developed countries, which has greatly supported the credit strength of
below-investment grade debt, including the loans and bonds held by the Fund.
Throughout 2005 and into early 2006, the Federal Reserve's monetary policy
reflected a concern that strong growth in the U.S. and global economies would
lead to inflation. As the Federal Reserve (the Fed) continued to raise its
Target Federal Funds (Fed Funds) Rate, short-term interest rates rose, thus
directly benefiting the holders of floating rate loans and bonds. This positive
trend continued into 2006, as the Fed again raised the Target Rate two times to
4.75% by the end of April. Consequently, the key benchmark for US floating rate
debt markets, 3 month LIBOR (London Inter-Bank Offer Rate), increased by 0.87%
to 5.13% by April 30, 2006. This increase had a direct and significantly
positive effect on the current yield of the Fund's floating rate assets, which
constitute most of the portfolio.
In addition, the strong performance of the domestic economy has continued to
facilitate healthy financial results for U.S. corporations, including debt
issuers owned by the Fund. Overall, the risk of default or loss to lenders (or
bondholders) typically diminishes as the economy remains healthy. The period
just ended was the latest in a succession of favorable periods for the below
investment grade floating rate debt markets.
Over the six-month period ended April 30, 2006, the performance of the Floating
Rate Fund benefited from several positive dynamics:
i. Rising short-term interest rates, as evidenced by the LIBOR benchmark
(mentioned above);
ii. Attractive spread over LIBOR for the floating rate assets in the Fund.
Spread is the premium that issuers pay to lenders to compensate for credit
risk assumed;
iii. A modest amount of opportunistic trading gains were realized, which boosted
returns;
iv. The consistently high percentage of loan/bond fundings in the Fund
(typically 90-95%), even during a period of relatively
19
- --------------------------------------------------------------------------------
high growth for the portfolio. The Fund seeks to remain fully invested and
keep all of its assets at work; and
v. Very tight supply/demand balance for US leveraged loan assets, which
increased the market values for new and existing holdings of the Fund.
With more than 340 holdings (no individual issuers larger than 1.4% of the
portfolio) and exposure to more than 30 industries, the Fund continues to be
very well diversified -- a key aspect of our strategy. Due to this
diversification, no individual holding made a material contribution to total
return during the period.
WHAT IS THE OUTLOOK?
The economy continues to expand at a healthy rate, as demonstrated by growing
output, solid domestic job growth and increasing consumer confidence. Business
spending remains strong and firms continue to increase utilization of excess
capacity. While housing sales appear to be slowing, investors are split as to
whether the housing market will experience a traditional "boom and bust" cycle
or stabilize at a slower, more sustainable pace. The outcome, which will take
some time to develop, has significant implications for the U.S. economy. A
strong economy generally leads to a positive outlook for below investment
quality securities such as high yield bonds and leveraged bank loans. We
anticipate that relatively strong economic conditions, the increasing liquidity
of the floating rate debt market, and a healthy supply of attractively priced
loans and bonds available for purchase will continue to support our efforts to
generate solid returns for the Fund.
The financial markets anticipated that the Fed Funds Target Rate would be hiked
by another 0.25% at the beginning of May. The Fed did not disappoint investors
and increased the rate to 5.00%, having thus raised rates a cumulative total of
4.00% since June 2004. Going forward, Fed policy is expected to be highly "data
dependent"; additional rate increases are possible, if justified by movements in
key economic variables. In particular, as always, the Fed is expected to be
especially vigilant in ensuring that domestic price inflation remains under
control. If inflation continues to accelerate at its current pace, the Fed is
likely to take action via additional increases in the Target Rate. Such
increases in short term rates generally are a positive dynamic for the floating
rate asset class.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 17.7%
- -------------------------------------------------------------------
Capital Goods 2.0
- -------------------------------------------------------------------
Consumer Cyclical 12.5
- -------------------------------------------------------------------
Consumer Staples 4.7
- -------------------------------------------------------------------
Energy 1.2
- -------------------------------------------------------------------
Finance 12.8
- -------------------------------------------------------------------
Health Care 7.9
- -------------------------------------------------------------------
Services 20.6
- -------------------------------------------------------------------
Technology 10.6
- -------------------------------------------------------------------
Transportation 3.3
- -------------------------------------------------------------------
Utilities 6.9
- -------------------------------------------------------------------
Short-Term Investments 5.6
- -------------------------------------------------------------------
Other Assets & Liabilities -5.8
- -------------------------------------------------------------------
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 - 4/30/06
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
9185 9479
8996 9386
8770 8799
8014 8088
8335 8243
9129 8875
9526 8953
9176 8823
9072 8652
9299 8978
4/02 8439 8434
8222 8372
7513 7776
7125 7170
7088 7217
6275 6433
6917 6998
7626 7410
7106 6975
6927 6793
6719 6691
6738 6756
4/03 7229 7312
7664 7697
7721 7795
8042 7933
8108 8087
7919 8002
8448 8454
8514 8528
9034 8975
9091 9140
9110 9267
8892 9127
4/04 8703 8984
8807 9107
9063 9284
8855 8977
8826 9013
8789 9110
8637 9249
8996 9624
9246 9951
9029 9708
9218 9913
8887 9737
4/05 8849 9553
9209 9856
9190 9870
9662 10237
9643 10144
9785 10226
9700 10056
10069 10435
10121 10439
10312 10716
10207 10745
10283 10878
4/06 10417 11024
</Table>
<Table>
--- FOCUS FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$10,417 ending value $11,024 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------
Focus A# 5/24/2001 17.71% 1.99%
- ----------------------------------------------
Focus A## 5/24/2001 11.23% 0.83%
- ----------------------------------------------
Focus B# 5/24/2001 16.81% 1.25%
- ----------------------------------------------
Focus B## 5/24/2001 11.81% 0.86%
- ----------------------------------------------
Focus C# 5/24/2001 16.79% 1.26%
- ----------------------------------------------
Focus C## 5/24/2001 15.79% 1.26%
- ----------------------------------------------
Focus Y# 5/24/2001 18.12% 2.45%
- ----------------------------------------------
</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
PETER I. HIGGINS, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Focus Fund Class A, before sales charge, returned 7.38% for the
six-month period ended April 30, 2006, trailing the S&P 500 Index return of
9.64% and the Lipper Large Cap Core Fund peer group average return of 9.22%.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity indices continued to move higher in the first quarter, as investors
sensed that the Federal Reserve may be close to completing this interest rate
tightening cycle and economic data indicated strong global growth. This positive
sentiment was coupled with continued strong earnings growth as the S&P 500 Index
appeared ready to post its 16th straight quarter of double digit growth in
operating earnings (since 2Q 2002). Propelled by the strong economic growth
environment, Materials, Energy, and Industrials were the strongest performing
sectors of the S&P 500 during the period. Utilities, Health Care, and Consumer
Staples were the worst performing sectors for the period as investors clearly
shifted away from "safe havens" and into more cyclically exposed sectors.
The Fund underperformed during the quarter primarily due to stock selection in
the Energy, Consumer Discretionary, and Materials sectors. The largest detractor
from returns on both an absolute and relative basis was XM Satellite, which
struggled controlling costs per gross subscriber add during the fourth quarter.
Medtronic also negatively contributed to results, as product recalls at a
Cardiac Rhythm Devices competitor caused an overall slowdown in the market
impacting Medtronic's business as well. In addition, indications of a cut in
government reimbursement rates have added to the controversy. Dow Chemical
detracted from results as it struggles with passing on the higher energy prices.
On the positive side, stock selection was strong in Technology and Financials.
UBS was the greatest contributor to returns on both an absolute and
benchmark-relative basis. One of the world's fastest growing and most profitable
wealth managers, UBS continues to improve its mix of business towards the higher
multiple wealth management business. Technology stocks Samsung and Accenture
were also strong contributors.
WHAT IS THE OUTLOOK?
We continue to focus on our philosophy of constructing the Fund one stock at a
time using fundamental analysis to build a portfolio drawn from a broad spectrum
of opportunities. As a result of our bottom-up up investment approach, at period
end the Fund was overweight in Technology, Consumer Discretionary, Telecom, and
21
- --------------------------------------------------------------------------------
Health Care, with Health Care being the most significant overweighting. The Fund
was underweight in Consumer Staples, Energy, Industrials, Utilities, and
Financials.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.0%
- -------------------------------------------------------------------
Capital Goods 2.0
- -------------------------------------------------------------------
Consumer Cyclical 3.7
- -------------------------------------------------------------------
Consumer Staples 4.2
- -------------------------------------------------------------------
Energy 7.0
- -------------------------------------------------------------------
Finance 22.6
- -------------------------------------------------------------------
Health Care 13.7
- -------------------------------------------------------------------
Services 14.5
- -------------------------------------------------------------------
Technology 27.7
- -------------------------------------------------------------------
Utilities 1.5
- -------------------------------------------------------------------
Short-Term Investments 0.2
- -------------------------------------------------------------------
Other Assets & Liabilities -0.1
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
MSCI AC WORLD
GLOBAL COMMUNICATIONS TELECOMMUNICATIONS SERVICES
FUND INDEX S&P 500 INDEX
--------------------- --------------------------- -------------
10/31/00 9450 10000 10000
7314 8625 9212
7399 8405 9257
8883 9230 9586
7069 7800 8712
5982 7361 8161
4/01 6492 7922 8794
5963 7312 8853
5689 6831 8638
5585 6911 8553
4791 6173 8018
4564 6248 7370
4319 6020 7511
4564 6306 8087
4697 6343 8158
4101 5775 8039
3600 5513 7884
3733 5585 8181
4/02 3317 4976 7685
3326 5009 7628
2882 4489 7085
2731 4254 6533
2882 4250 6576
2504 3594 5862
3062 4411 6377
3393 4883 6752
3241 4594 6356
3156 4493 6190
3137 4261 6097
3081 4208 6156
4/03 3383 4713 6662
3667 5055 7013
3865 5098 7103
3875 4978 7228
3988 4964 7369
4064 4994 7291
4413 5234 7703
4564 5413 7770
5018 5855 8178
5160 6052 8328
5160 6096 8444
5160 5968 8316
4/04 4961 5868 8186
4905 5717 8298
5084 5824 8459
4923 5792 8179
4668 5848 8212
4791 6000 8301
5179 6285 8428
5963 6751 8769
6194 7014 9067
5956 6718 8846
6184 6828 9032
5794 6656 8872
4/05 5613 6537 8704
5784 6520 8981
6203 6585 8994
6775 6882 9328
6746 6871 9243
7004 6917 9318
6785 6733 9162
7004 6665 9508
7090 6669 9512
7273 6799 9764
7399 6831 9790
7534 7058 9912
4/06 7727 7319 10045
</Table>
<Table>
--- GLOBAL COMMUNICATIONS FUND --- MSCI AC WORLD TELECOMMUNICATIONS
$9,450 starting value SERVICES INDEX
$7,727 ending value $10,000 starting value
$7,319 ending value
-- S & P 500 INDEX
$10,000 starting value
$10,045 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Global Comm A# 10/31/2000 37.68% 3.54% -3.59%
- --------------------------------------------------------------
Global Comm A## 10/31/2000 30.10% 2.38% -4.58%
- --------------------------------------------------------------
Global Comm B# 10/31/2000 36.82% 2.82% -4.26%
- --------------------------------------------------------------
Global Comm B## 10/31/2000 31.82% 2.46% -4.43%
- --------------------------------------------------------------
Global Comm C# 10/31/2000 36.57% 2.82% -4.29%
- --------------------------------------------------------------
Global Comm C## 10/31/2000 35.57% 2.82% -4.29%
- --------------------------------------------------------------
Global Comm Y# 10/31/2000 38.15% 4.04% -3.15%
- --------------------------------------------------------------
</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
13.89% for the six-month period ended April 30, 2006. The Fund strongly
outperformed the MSCI All Country World Free Telecommunication Services Index,
which returned 8.72%, but underperformed the Lipper Telecommunications Mutual
Funds Average, which returned 15.30% over the same period.
WHY DID THE FUND PERFORM THIS WAY?
The Fund's outperformance over the six-month period relative to the MSCI AC
World Free Telecommunication Services Index was a result of security selection,
primarily among Diversified Telecommunications Services, a sub-sector accounting
for nearly one-half of the Fund. In this sub-sector, we have tended to favor
emerging markets. Stock selection was also additive to the Fund's performance
within the Wireless Telecommunications Service sub-sector. During the period the
top relative and absolute contributors to the Fund's performance were Telkom
South Africa, Dobson Communication, Philippine Long Distance and Telekomunikasi
Indo. The Fund also benefited from its underweight position in Vodafone, which
declined during the period.
Stocks that detracted from relative performance for the period included Mobile
Telesystems (Wireless Communications), Koninklijke (Telecommunications), and
Westell Tech (Communications Equipment). Also, not holding any US RBOC (regional
bell operating companies) securities hurt the Fund's relative performance as
many of them performed well, including BellSouth and AT&T.
WHAT IS THE OUTLOOK?
For 2006, we remain optimistic about the performance of telecom stocks. Within
the wireline sector, we prefer stocks outside of North America. While many
international wireline carriers face access line declines and voice substitution
to wireless, these same carriers often have wireless operations that are
performing well,
23
- --------------------------------------------------------------------------------
resulting in solid revenue growth. For the wireless sector, we continue to be
bullish on US stocks. The US wireless industry is a telecom rarity because the
sector is experiencing capacity constraints, whereas the telecom norm is one of
excess supply. These capacity constraints should result in pricing power and,
ultimately, strong financial results for the U.S. wireless carriers.
While the telecom industry is highly competitive, we believe that there are many
attractive opportunities. We believe that the Fund can continue to find
underpriced stocks of companies with improving business fundamentals which have
yet to be appreciated by the market. Often, these companies are not well known
among global investors; however, we frequently find the best opportunities in
stocks unfamiliar to the investment community.
As of the end of the period, relative to its benchmark, the Fund was overweight
the Wireless Telecommunication Services sub-sector and underweight the
Diversified Telecommunication Services sub-sector.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Communications Equipment Manufacturing 3.2%
- -------------------------------------------------------------------
Entertainment -- Cable & Other Subscription
Programming 0.1
- -------------------------------------------------------------------
Industrial Machinery and Equipment Rental and Lease 2.2
- -------------------------------------------------------------------
Other Information Services 1.9
- -------------------------------------------------------------------
Other Telecommunications 26.1
- -------------------------------------------------------------------
Semiconductor, Electronic Component Manufacturing 0.1
- -------------------------------------------------------------------
Software Publishers 7.8
- -------------------------------------------------------------------
Telecommunication Resellers 0.9
- -------------------------------------------------------------------
Wired Telecommunications Carriers 13.0
- -------------------------------------------------------------------
Wireless Communications Services 19.1
- -------------------------------------------------------------------
Wireless Telecommunications Carriers 23.0
- -------------------------------------------------------------------
Short-Term Investments 7.0
- -------------------------------------------------------------------
Other Assets & Liabilities -4.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Brazil 9.0%
- -------------------------------------------------------------------
China 2.5
- -------------------------------------------------------------------
Egypt 1.6
- -------------------------------------------------------------------
France 4.1
- -------------------------------------------------------------------
Germany 2.3
- -------------------------------------------------------------------
Italy 0.4
- -------------------------------------------------------------------
Luxembourg 1.3
- -------------------------------------------------------------------
Morocco 0.0
- -------------------------------------------------------------------
Norway 3.8
- -------------------------------------------------------------------
Philippines 4.6
- -------------------------------------------------------------------
Russia 5.7
- -------------------------------------------------------------------
South Africa 6.9
- -------------------------------------------------------------------
South Korea 2.0
- -------------------------------------------------------------------
Spain 3.3
- -------------------------------------------------------------------
Taiwan 0.9
- -------------------------------------------------------------------
Turkey 3.5
- -------------------------------------------------------------------
United States 45.5
- -------------------------------------------------------------------
Short Term Investments 7.0
- -------------------------------------------------------------------
Other Assets & Liabilities -4.4
- -------------------------------------------------------------------
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 - 4/30/06
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
9856 10361 9586
9630 9685 8712
9289 9114 8161
4/01 9715 9501 8794
9941 9447 8853
9989 9364 8638
9885 9166 8553
9715 9066 8018
8836 8104 7370
8855 8117 7511
9100 8533 8087
9384 8630 8158
8949 8330 8039
8921 8183 7884
9403 8772 8181
4/02 9431 8799 7685
9299 8911 7628
8987 8423 7085
8080 7630 6533
8070 7728 6576
7135 6668 5862
7588 7314 6377
8004 7672 6752
7566 7225 6356
7206 6988 6190
7025 6841 6097
6987 6711 6156
4/03 7718 7651 6662
8098 8072 7013
8184 8233 7103
8459 8609 7228
8430 8518 7369
8582 8730 7291
9218 9425 7703
9256 9508 7770
9831 10097 8178
10023 10330 8328
10281 10564 8444
10243 10532 8316
4/04 9803 10162 8186
9831 10238 8298
9927 10348 8459
9477 10035 8179
9717 10293 8212
9784 10403 8301
9994 10686 8428
10434 11230 8769
10951 11808 9067
10680 11530 8846
10768 11742 9032
10477 11409 8872
4/05 10400 11218 8704
10525 11348 8981
10738 11519 8994
10961 11790 9328
10884 11822 9243
11194 12227 9318
11232 12296 9162
11794 12859 9508
11998 13204 9512
12496 13694 9764
12633 14035 9790
12760 14201 9912
4/06 13337 14808 10045
</Table>
<Table>
--- GLOBAL FINANCIAL SERVICES FUND --- MSCI FINANCE EX REAL ESTATE INDEX
$9,450 starting value $10,000 starting value
$13,337 ending value $14,808 ending value
-- S&P 500 INDEX
$10,000 starting value
$10,045 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION 1 5 SINCE
DATE YEAR YEAR INCEPTION
- ----------------------------------------------------------------
Global Fin Ser A# 10/31/2000 28.24% 6.54% 6.47%
- ----------------------------------------------------------------
Global Fin Ser A## 10/31/2000 21.19% 5.34% 5.38%
- ----------------------------------------------------------------
Global Fin Ser B# 10/31/2000 27.39% 5.81% 5.72%
- ----------------------------------------------------------------
Global Fin Ser B## 10/31/2000 22.39% 5.49% 5.58%
- ----------------------------------------------------------------
Global Fin Ser C# 10/31/2000 27.29% 5.79% 5.71%
- ----------------------------------------------------------------
Global Fin Ser C## 10/31/2000 26.29% 5.79% 5.71%
- ----------------------------------------------------------------
Global Fin Ser Y# 10/31/2000 28.75% 7.03% 6.95%
- ----------------------------------------------------------------
</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 18.73% for the six-month period ended April 30, 2006. The Fund
underperformed its benchmark, the MSCI Finance ex-Real Estate Index, which
returned 20.43%, and outperformed the Lipper Financial Services Mutual Funds
Average, which returned 15.19% 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 six-month period. All industries, except for Real Estate,
within the Finance sector posted positive returns, led by Capital Markets and
Diversified Financial Services. Despite underperforming its benchmark the Fund
delivered strong absolute performance. This was primarily driven by the security
selection within Consumer Finance, Commercial Banks and Thrifts & Mortgage
Finance.
Stock selection within the Insurance industry was the primary driver of the
fund's relative performance for the period. Positions in St Paul Travelers, Ace
Limited and Reinsurance Group were among Insurance stocks that performed poorly
during the period relative to the benchmark.
Among the largest relative contributors to performance were UBS, Capital One
Financial, Credit Suisse Group, and Euronext. UBS shares performed well as asset
gains grew and it continued to buy back stock. Capital One shares rebounded
toward the end of the period as it announced a jump in quarterly profits due in
part to an improving credit environment and successfully integrating Hibernia
bank. Assets in Credit Suisse's private banking business continued to grow
sending shares of the stock higher.
WHAT IS THE OUTLOOK?
Prolonged periods of unexpectedly low interest rates can negatively impact life
insurance companies. Therefore, we have been more
25
- --------------------------------------------------------------------------------
cautious on the margin about the life insurance companies in the U.S. and in
Europe. For the property and casualty market, declining insurance rates appear
to have stabilized and we expect robust earnings, excluding any unforeseeable
catastrophes. For insurance brokers, regulatory issues in recent years have
created instability and the modest pricing cycle is likely to pressure revenue.
We continue to be interested in more defensive or unique company situations. For
example, payday lending or check cashing specialty finance companies remain one
of the few growth areas within consumer finance. Elsewhere among non-bank
financials, we expect that 2006 will bring news of consolidation among the
trust/custody companies. Differentiation could also be at hand for European
asset gatherers. Historically, there has been a tendency for the market to
assign uniform multiples to all financial services companies and we believe that
could change in 2006 to reward certain private banks and asset managers.
At the end of the period the Fund was overweight in the Thrifts & Mortgage
Finance and Capital Markets industries and underweight in the Commercial Banks
and Diversified Financial Services. In addition, with respect to its benchmark,
the Fund is overweight in its exposure to the US and underweight in its exposure
to Europe.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 4.6%
- -------------------------------------------------------------------
Canada 2.6
- -------------------------------------------------------------------
Germany 1.4
- -------------------------------------------------------------------
Italy 6.3
- -------------------------------------------------------------------
Japan 8.1
- -------------------------------------------------------------------
Netherlands 3.5
- -------------------------------------------------------------------
Spain 4.3
- -------------------------------------------------------------------
Switzerland 8.9
- -------------------------------------------------------------------
United Kingdom 4.8
- -------------------------------------------------------------------
United States 52.1
- -------------------------------------------------------------------
Short Term Investments 25.4
- -------------------------------------------------------------------
Other Assets & Liabilities -22.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Commercial Banking 7.9%
- -------------------------------------------------------------------
Consumer Lending 1.5
- -------------------------------------------------------------------
Credit Card Issuing 1.4
- -------------------------------------------------------------------
Depository Credit Banking 16.4
- -------------------------------------------------------------------
Insurance Carriers 20.7
- -------------------------------------------------------------------
International Trade Financing (Foreign Banks) 32.0
- -------------------------------------------------------------------
Monetary Authorities -- Central Bank 1.4
- -------------------------------------------------------------------
Nondepository Credit Banking 7.2
- -------------------------------------------------------------------
Securities and Commodity Exchanges 1.8
- -------------------------------------------------------------------
Securities, Commodities and Brokerage 6.4
- -------------------------------------------------------------------
Short-Term Investments 25.4
- -------------------------------------------------------------------
Other Assets & Liabilities -22.1
- -------------------------------------------------------------------
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 - 4/30/06
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
12922 9939 12043
13111 9897 12333
13463 9117 12507
13965 9162 12959
13168 9487 11763
13128 8622 11708
12321 8076 10664
4/01 12981 8703 11130
13591 8762 11375
13679 8549 11088
13601 8464 11392
13394 7935 11100
12961 7294 11014
13266 7434 11029
13989 8004 11619
14170 8074 11399
13768 7956 11094
13818 7803 11038
14190 8096 11176
4/02 13707 7605 10478
13285 7550 10274
12078 7012 9297
11756 6466 9093
11525 6508 9158
10831 5801 8669
11485 6311 9072
12272 6682 9325
11673 6290 9002
11498 6126 9007
11116 6034 8852
11230 6092 9121
4/03 12210 6594 9541
13407 6941 9986
13717 7029 10414
13769 7153 10455
13634 7293 10226
13944 7215 10241
14243 7623 10342
14591 7690 10529
15306 8093 11091
15877 8242 11417
15981 8356 11573
15804 8230 11239
4/04 15949 8101 11639
15866 8212 11624
16064 8372 11622
15203 8095 10895
15358 8127 11029
15524 8215 11000
15555 8341 10743
16062 8678 11018
17120 8973 11786
16488 8755 11428
16324 8939 11732
15910 8781 11742
4/05 16378 8614 12207
16607 8888 12432
16847 8901 12487
17698 9232 12919
18276 9147 12976
18570 9222 12891
17992 9068 12631
18469 9410 12902
19153 9414 13213
19768 9663 13372
19756 9689 13475
19802 9810 13324
4/06 19559 9941 12904
</Table>
<Table>
--- GLOBAL HEALTH FUND -- GOLDMAN SACHS HEALTH CARE INDEX
$9,450 starting value $10,000 starting value
$19,559 ending value $12,904 ending value
--- S & P 500 INDEX
$10,000 starting value
$9,941 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ---------------------------------------------------------------
Global Health A# 5/1/2000 19.42% 8.54% 12.89%
- ---------------------------------------------------------------
Global Health A## 5/1/2000 12.85% 7.32% 11.83%
- ---------------------------------------------------------------
Global Health B# 5/1/2000 18.58% 7.76% 12.07%
- ---------------------------------------------------------------
Global Health B## 5/1/2000 13.58% 7.46% 11.98%
- ---------------------------------------------------------------
Global Health C# 5/1/2000 18.58% 7.76% 12.07%
- ---------------------------------------------------------------
Global Health C## 5/1/2000 17.58% 7.76% 12.07%
- ---------------------------------------------------------------
Global Health Y# 5/1/2000 20.02% 9.18% 13.51%
- ---------------------------------------------------------------
</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
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 8.71% for
the six-month period ended April 30, 2006. The Fund outperformed both the
Goldman Sachs Health Care Index, which returned 2.16%, and the Lipper Health and
Biotechnology Mutual Fund Average, which returned 3.97% over the same period.
WHY DID THE FUND PERFORM THIS WAY?
The Health Care sector lagged the broader market, as represented by the S&P 500,
for the period. All sub-sectors contributed to the Fund's positive returns.
Security selection among Pharmaceutical and Biotechnology stocks relative to its
benchmark was a primary driver of the Fund's outperformance. The top relative
performers came from the Pharmaceutical sub-sector; AstraZeneca, Daiichi Sankyo
and Shionogi. AstraZeneca shares were helped during the period as incrementally
positive data relating to Crestor was released in March. After the completion of
the Daiichi Pharmaceutical and Sankyo merger, investor confidence grew in the
combined entity's ability to grow earnings and its long-term prospects from
numerous synergies. In addition, Daiichi Sankyo's R&D day boosted enthusiasm for
its developmental projects in diabetes, cancer, and cardiovascular disease.
Shionogi shares performed well from a profitable royalty stream off sales of
AstraZeneca's cholesterol drug, Crestor.
Among the largest detractors from the Fund's relative performance was
pharmaceutical company Schering-Plough, biotechnology company CV Therapeutics
and medical devices company Medtronic. Shares of Schering-Plough decreased on
worries that the
27
- --------------------------------------------------------------------------------
loss of patent protection for Merck's cholesterol lowering "statin" drug, Zocor,
will have negative implications for the broader statin market. CV Therapeutic
shares dropped on its report of net losses for fiscal year 2005. In addition,
the Fund's relative performance was hurt by not holding Pfizer, Merck & Co, and
Guidant, all of which performed well during the period.
WHAT IS THE OUTLOOK?
Within the Pharmaceutical & Biotechnology sub-sectors, we expect a round of
patent expirations in '06-'07, followed by a period of relative quiet until
'10-'11 when the next round of patent expirations will occur. While there is
likely to be some discount on specific stocks faced with patent litigation, we
believe the discount applied will likely be much lower going forward.
Geographically within Pharmaceuticals & Biotechnology sub-sectors, the European
companies have outperformed the U.S. companies, as we expected. We are closely
monitoring relative valuations and selectively shifting our focus to U.S.
companies where valuations have yet to recognize the fundamentals.
Within the Health Care Providers & Services sub-sector, we continue to focus on
earnings growth to drive stock performance as valuations remain at the upper end
of historic ranges. Among managed care stocks, fundamentals appear stable and we
continue to believe earnings expectations are reasonable to conservative for
many companies. Among drug distributors, recent quarterly earnings results
demonstrated the solid fundamentals we expected. Going forward, we look for
continued improvement as these companies will benefit from the ongoing shift
from branded to generic drugs as well as the additional volume the Medicare Drug
Benefit is expected to generate.
Within the Health Care Equipment & Supplies sub-sector, the prospects for growth
remain strong. However, several years of strong performance relative to the
market have left few stocks with attractive valuations. Cardiovascular disease
remains the most attractive area within the sub-sector, with a large market and
strong demand for cardiac rhythm management products, particularly implantable
cardioverter defibrillators. We expect continued strength in this area in the
near term.
At the end of the period the Fund was most overweight in Pharmaceutical and
Biotechnology stocks while holding underweight positions in Health Care
Providers & Services and Health Care Equipment & Supplies stocks.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Belgium 1.6%
- -------------------------------------------------------------------
Denmark 0.8
- -------------------------------------------------------------------
France 3.1
- -------------------------------------------------------------------
Germany 1.7
- -------------------------------------------------------------------
Ireland 1.6
- -------------------------------------------------------------------
Japan 16.3
- -------------------------------------------------------------------
Switzerland 0.4
- -------------------------------------------------------------------
United Kingdom 5.3
- -------------------------------------------------------------------
United States 67.6
- -------------------------------------------------------------------
Short Term Investments 18.7
- -------------------------------------------------------------------
Other Assets & Liabilities -17.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Agencies, Brokerages, Other Insurance Activities 0.5%
- -------------------------------------------------------------------
Basic Chemical Manufacturing 0.8
- -------------------------------------------------------------------
Drugs & Druggists Sundries Wholesalers 5.7
- -------------------------------------------------------------------
Electrical Equipment Manufacturing 1.0
- -------------------------------------------------------------------
General Medical and Surgical Hospitals 1.0
- -------------------------------------------------------------------
Health and Personal Care Stores 2.1
- -------------------------------------------------------------------
Insurance Carriers 6.3
- -------------------------------------------------------------------
Medical Equipment & Supplies Manufacturing 7.1
- -------------------------------------------------------------------
Navigate, Measure, Control Instrument Manufacturing 5.5
- -------------------------------------------------------------------
Pharmaceutical & Medicine Manufacturing 57.8
- -------------------------------------------------------------------
Professional Service -- Computer System Design &
Related 1.6
- -------------------------------------------------------------------
Scientific Research & Development Services 9.0
- -------------------------------------------------------------------
Short-Term Investments 18.7
- -------------------------------------------------------------------
Other Assets & Liabilities -17.1
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GLOBAL LEADERS FUND MSCI WORLD INDEX MSCI WORLD GROWTH INDEX
------------------- ---------------- -----------------------
9/30/98 9450 10000 10000
10697 10906 10871
11482 11556 11573
12319 12122 12419
12932 12389 12858
12572 12062 12348
13175 12566 12805
4/99 13476 13063 12784
13010 12587 12339
13876 13176 13099
14071 13138 12955
13993 13117 13115
13798 12991 13138
14695 13668 13999
15772 14055 14821
18193 15194 16518
17477 14326 15484
19457 14366 16023
19389 15361 16979
4/00 18467 14713 15840
17958 14342 14901
18765 14827 15813
18135 14412 15018
19149 14882 15552
18342 14093 14175
17288 13858 13581
16265 13019 12534
16871 13231 12299
16871 13488 12670
15320 12350 11055
14267 11541 10164
4/01 15370 12397 10987
15052 12243 10769
14764 11861 10394
14395 11705 10241
13598 11145 9612
12413 10165 8815
12782 10361 9191
13877 10975 9891
13947 11046 9941
13489 10712 9618
13389 10621 9645
13818 11114 9887
4/02 13349 10720 9467
13618 10745 9421
12762 10095 8879
11676 9245 8254
11556 9264 8254
10201 8247 7437
11168 8857 8017
12154 9337 8310
11088 8886 7992
10839 8617 7705
10580 8470 7624
10430 8447 7694
4/03 11596 9201 8247
12293 9731 8592
12582 9904 8715
12891 10106 8884
13250 10327 9064
12891 10392 9117
13907 11011 9661
14236 11181 9800
14953 11885 10272
15531 12078 10483
16069 12285 10612
16358 12208 10508
4/04 15730 11965 10302
15940 12073 10410
16477 12336 10553
15182 11936 10048
15093 11993 10020
15860 12224 10222
16428 12526 10474
17334 13190 11007
17693 13697 11423
17025 13391 11116
16627 13822 11403
16029 13560 11186
4/05 15820 13273 10947
16199 13519 11238
16348 13642 11293
16906 14122 11762
17235 14235 11870
17334 14609 12134
16737 14257 11877
17489 14740 12266
17999 15070 12535
19381 15746 13114
18876 15729 12983
19280 16082 13311
4/06 19865 16579 13623
</Table>
<Table>
--- GLOBAL LEADERS FUND --- MSCI WORLD INDEX -- MSCI WORLD GROWTH INDEX
$9,450 starting value $10,000 starting value $10,000 starting value
$19,865 ending value $16,579 ending value $13,623 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.
MSCI WORLD GROWTH INDEX is a broad-based unmanaged market
capitalization-weighted total return index which measures the performance of
growth securities in 23 developed-country global equity markets including the
United States, Canada, Europe, Australia, New Zealand and the Far East. You
cannot invest directly in an index.
The fund has changed its benchmark from the Morgan Stanley Capital International
World Index to the Morgan Stanley Capital International World Growth Index
because the fund's investment manager believes that the Morgan Stanley Capital
International World Growth Index is better suited to the investment strategy of
the fund.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEARS INCEPTION
- -----------------------------------------------------------------
Global Leaders A# 9/30/1998 25.57% 5.26% 10.29%
- -----------------------------------------------------------------
Global Leaders A## 9/30/1998 18.66% 4.08% 9.47%
- -----------------------------------------------------------------
Global Leaders B# 9/30/1998 24.61% 4.46% 9.47%
- -----------------------------------------------------------------
Global Leaders B## 9/30/1998 19.61% 4.12% 9.47%
- -----------------------------------------------------------------
Global Leaders C# 9/30/1998 24.63% 4.56% 9.54%
- -----------------------------------------------------------------
Global Leaders C## 9/30/1998 23.63% 4.56% 9.54%
- -----------------------------------------------------------------
Global Leaders Y# 9/30/1998 26.28% 5.87% 10.89%
- -----------------------------------------------------------------
</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
MATTHEW D. HUDSON
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Global Leaders Fund Class A, before sales charge, returned 18.69%
for the six-month period ended April 30, 2006 versus returns of 14.70% for the
MSCI World Growth Index and 16.29% for the MSCI World Index and the average fund
in the Lipper Global Large Cap Growth peer group, which returned 17.31%.
WHY DID THE FUND PERFORM THIS WAY?
Global equity markets advanced during the semi-annual period, with all sectors
of the MSCI World Growth Index delivering positive returns. Industrials,
Materials, and Energy were among the largest gaining sectors, while Health Care,
Telecommunication Services, Consumer Staples and Information Technology rose the
least during the period. Importantly, we managed to outpace the benchmark
despite the continued strength of non-growth sectors and, much to our
satisfaction, outperformance was due to stock selection across multiple
industries.
Consumer Discretionary, Information Technology and Financials were areas of
greatest relative and absolute strength during the period. Within Consumer
Discretionary, Carphone Warehouse (Retailing), a UK mobile phone retailer which
has a dominant position in a fast growing market, and Las Vegas Sands (Consumer
Services), a hotel and gaming company, both gained on stronger than expected
earnings. Warner Music Group (Media) appreciated on continued strength of
digital music. Within Information Technology, Corning (Technology Hardware &
Equipment) was a top contributor as the company continued to exhibit its
competitive advantage in the flat panel display glass market. Strong performers
within Financials were UBS (Diversified Financials) and Credit Suisse
(Diversified Financials).
Stock selection within Materials and Industrials, where we did not own some of
the strong performing stocks that were held in the benchmark, negatively
impacted relative performance. Outside of those sectors, stocks that detracted
the most from relative and
29
- --------------------------------------------------------------------------------
absolute performance were Sirius Satellite (Media), Yahoo! (Software & Services)
and eBay (Software & Services). Shares of Sirius, a U.S. subscription-based
satellite radio broadcaster, declined on signs that subscriber growth will be
less than anticipated and, importantly, that the cost to retain and attract new
customers will be greater than anticipated. True to our process, we sold our
position after meeting with management and determining that the drivers of
earnings growth were no longer in place. Shares of internet search engine,
Yahoo!, declined on investor concern that its competitors, including Google and
Microsoft, will continue to take market share in the search and portal
businesses. At the end of the period we did not hold Yahoo!, but maintained a
position in Google.
Our sector allocations detracted modestly from performance, as the benefit of
having an overweight to Financials and underweight to Health Care and Consumer
Staples was offset by an underweight within the strong performing Materials and
Industrials sectors. Nevertheless, we are encouraged by the fact that we can
hold our own in this environment.
WHAT IS THE OUTLOOK?
Our focus remains on stock and sector selections that result from intense
bottom-up research, diligently meeting with the managements of leading companies
globally, and leveraging the strong research capabilities of our firm. Sector
positioning is based on our bottom-up investment process. As usual, the Fund is
positioned for growth. At the end of the semi-annual period, the Fund remained
overweight the Information Technology, Financials, and Consumer Discretionary
sectors relative to the MSCI World Growth Index, and underweight the Consumer
Staples, Industrials, and Health Care sectors.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Austria 1.0%
- -------------------------------------------------------------------
Belgium 0.8
- -------------------------------------------------------------------
Canada 4.1
- -------------------------------------------------------------------
Finland 1.3
- -------------------------------------------------------------------
France 4.4
- -------------------------------------------------------------------
Germany 2.8
- -------------------------------------------------------------------
Greece 0.9
- -------------------------------------------------------------------
Ireland 0.5
- -------------------------------------------------------------------
Israel 0.6
- -------------------------------------------------------------------
Italy 0.7
- -------------------------------------------------------------------
Japan 12.2
- -------------------------------------------------------------------
Mexico 3.1
- -------------------------------------------------------------------
Netherlands 2.5
- -------------------------------------------------------------------
South Korea 3.5
- -------------------------------------------------------------------
Sweden 1.3
- -------------------------------------------------------------------
Switzerland 3.1
- -------------------------------------------------------------------
Taiwan 0.8
- -------------------------------------------------------------------
United Kingdom 10.8
- -------------------------------------------------------------------
United States 44.5
- -------------------------------------------------------------------
Short Term Investments 14.3
- -------------------------------------------------------------------
Other Assets & Liabilities -13.2
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.3%
- -------------------------------------------------------------------
Capital Goods 1.7
- -------------------------------------------------------------------
Consumer Cyclical 9.0
- -------------------------------------------------------------------
Consumer Staples 3.2
- -------------------------------------------------------------------
Energy 8.2
- -------------------------------------------------------------------
Finance 17.3
- -------------------------------------------------------------------
Health Care 11.5
- -------------------------------------------------------------------
Services 11.6
- -------------------------------------------------------------------
Technology 30.3
- -------------------------------------------------------------------
Transportation 0.5
- -------------------------------------------------------------------
Utilities 1.3
- -------------------------------------------------------------------
Short Term Investments 14.3
- -------------------------------------------------------------------
Other Assets & Liabilities -13.2
- -------------------------------------------------------------------
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 - 4/30/06
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 8898 9795
9812 9992 10036
9181 9527 9879
10426 10766 10493
8930 9022 9939
8103 8341 9897
6146 6431 9117
5930 5880 9162
6868 6845 9487
5367 4947 8622
4626 4260 8076
4/01 5480 5073 8703
5217 4871 8762
5301 4884 8549
4954 4536 8464
4194 3946 7935
3265 3148 7294
3763 3653 7434
4429 4276 8004
4588 4200 8074
4541 4196 7956
3978 3635 7803
4279 3894 8096
4/02 3763 3417 7605
3547 3277 7550
3181 2814 7012
2862 2529 6466
2824 2497 6508
2308 2051 5801
2796 2499 6311
3284 2936 6682
2824 2509 6290
2871 2487 6126
2862 2525 6034
2852 2496 6092
4/03 3162 2756 6594
3509 3064 6941
3547 3056 7029
3744 3232 7153
3988 3455 7293
3941 3405 7215
4391 3737 7623
4476 3809 7690
4523 3868 8093
4701 4050 8242
4645 3935 8356
4513 3827 8230
4/04 4204 3604 8101
4485 3804 8212
4579 3897 8372
4063 3528 8095
3791 3352 8127
3960 3468 8215
4147 3652 8341
4401 3858 8678
4532 3981 8973
4269 3718 8755
4269 3725 8939
4082 3635 8781
4/05 4016 3449 8614
4382 3763 8888
4372 3690 8901
4654 3938 9232
4682 3908 9147
4720 3948 9222
4663 3878 9068
4992 4137 9410
5010 4062 9414
5433 4213 9663
5254 4148 9689
5367 4241 9810
4/06 5433 4213 9941
</Table>
<Table>
--- GLOBAL TECHNOLOGY FUND --- GOLDMAN SACHS TECHNOLOGY COMPOSITE INDEX
$9,450 starting value $10,000 starting value
$5,433 ending value $4,213 ending value
-- S & P 500 INDEX
$10,000 starting value
$9,941 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------------
Global Tech A# 5/1/2000 35.28% -0.17% -8.81%
- -----------------------------------------------------------------
Global Tech A## 5/1/2000 27.84% -1.29% -9.67%
- -----------------------------------------------------------------
Global Tech B# 5/1/2000 34.47% -0.88% -9.48%
- -----------------------------------------------------------------
Global Tech B## 5/1/2000 29.47% -1.28% -9.63%
- -----------------------------------------------------------------
Global Tech C# 5/1/2000 34.47% -0.88% -9.48%
- -----------------------------------------------------------------
Global Tech C## 5/1/2000 33.47% -0.88% -9.48%
- -----------------------------------------------------------------
Global Tech Y# 5/1/2000 35.93% 0.24% -8.42%
- -----------------------------------------------------------------
</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
16.50% for the six-month period ended April 30, 2006. The Fund outperformed the
Goldman Sachs Technology Index, which returned 8.64%, and the Lipper Science and
Technology Mutual Fund Average, which returned 14.68% over the period.
WHY DID THE FUND PERFORM THIS WAY?
Technology stocks delivered solid returns during the period and outperformed the
broader market as represented by the S&P 500. Within the Goldman Sachs
Technology Index, weakness among Internet Software & Services was offset by
strength in Electronic Equipment & Instruments, Commercial Services & Supplies
and Wireless Telecom.
Security selection in Semiconductors & Semiconductor Equipment, Communications
Equipment and Electronic Equipment & Instruments was the primary driver of Fund
outperformance relative to the Goldman Sachs Technology Composite Index. Hon
Hai, an Electronic Equipment manufacturer, was one of the largest contributors
on both an absolute and relative basis helped by strong demand for consumer
electronics and personal computer products. Among wireless handsets, the
single-digit penetration rate of 3G phones should rise strongly in 2006 and 2007
as operators look to fill up their 3G network capacity. Nokia is a significant
beneficiary of this trend and was a top contributor to absolute and
benchmark-relative returns during the period. Corning also performed well on
improved earnings growth and demand for Thin Film Transistor Liquid Crystal
Display (TFT-LCD).
31
- --------------------------------------------------------------------------------
Overall, our allocation decisions contributed positively to relative
performance. Our underweight to Internet Retail, and overweight to Electronic
Equipment & Instruments were additive.
Our stock selection among Computers & Peripherals detracted from relative
performance. Most of this weakness was due to a decline in shares of Dell
Computer as there was speculation that management will choose to cut future
pricing and margins in order to accelerate growth. Other detractors included
Microsoft and Yahoo! Inc.
WHAT IS THE OUTLOOK?
The robust restocking cycle in key end markets of PCs (particularly notebooks)
and handsets dated back to mid-2005. We have benefited from our caution on the
stocks exposed to those end markets as the inventory correction now unfolds
there. Within Semiconductor Equipment, we selectively favor companies with a
focused product offering such as NAND flash, and those that are taking market
share.
Among Technology Hardware & Equipment, open storage networking is an area with a
strong outlook. Spending on storage systems should continue to grow faster than
overall technology capital expenditures. As phone, cable and satellite operators
compete to provide customers the triple-play of voice, video and internet
services, we also expect strength in equipment spending on the edge of carrier
networks (where interconnections to other networks occur).
Within Software & Services, our investments remain well-positioned ahead of the
strong video game cycle driven by next generation platforms. We are also
meaningfully exposed to the computer services group where cyclical business
fundamentals are improving, valuations are reasonable and individual company
catalysts are present in the form of financial restructurings and management
changes.
At the end of the period, the Fund was most overweight in the IT Services and
Computer & Peripherals sub-sectors and underweight Semiconductors &
Semiconductor Equipment and Internet Software & Services.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Bermuda 2.5%
- -------------------------------------------------------------------
Finland 3.9
- -------------------------------------------------------------------
Japan 1.1
- -------------------------------------------------------------------
Luxembourg 0.8
- -------------------------------------------------------------------
South Korea 4.2
- -------------------------------------------------------------------
Taiwan 3.9
- -------------------------------------------------------------------
United Kingdom 0.1
- -------------------------------------------------------------------
United States 82.4
- -------------------------------------------------------------------
Short Term Investments 0.4
- -------------------------------------------------------------------
Other Assets & Liabilities 0.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Audio and Video Equipment Manufacturing 1.1%
- -------------------------------------------------------------------
Business Support Services 1.1
- -------------------------------------------------------------------
Communications Equipment Manufacturing 14.3
- -------------------------------------------------------------------
Computer and Peripheral Manufacturing 23.1
- -------------------------------------------------------------------
Data Processing Services 4.7
- -------------------------------------------------------------------
Electrical Equipment Manufacturing -- Component
Other 4.5
- -------------------------------------------------------------------
Employment Services 1.2
- -------------------------------------------------------------------
Machinery Manufacturing -- Industrial Machinery 3.3
- -------------------------------------------------------------------
Management, Scientific, and Technical Consulting
Services 1.9
- -------------------------------------------------------------------
Navigate, Measure, Control Instrument Manufacturing 0.5
- -------------------------------------------------------------------
On Line Information Services 3.5
- -------------------------------------------------------------------
Exchange Traded Funds 0.9
- -------------------------------------------------------------------
Other Services -- Other Personal Services 0.8
- -------------------------------------------------------------------
Professional Services -- Computer System Design &
Related 10.0
- -------------------------------------------------------------------
Retail -- Electronic Shopping and Mail-Order Houses 0.8
- -------------------------------------------------------------------
Semiconductor, Electronic Component Manufacturing 11.6
- -------------------------------------------------------------------
Software Publishers 15.6
- -------------------------------------------------------------------
Short-Term Investments 0.4
- -------------------------------------------------------------------
Other Assets & Liabilities 0.7
- -------------------------------------------------------------------
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 - 4/30/06
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
9450 10000 10000
6/04 9611 10194 10057
9337 9857 10156
8/04 9346 9897 10350
9601 10004 10378
10/04 9790 10157 10465
10178 10567 10382
12/04 10493 10927 10477
10237 10661 10543
2/05 10408 10885 10481
10199 10692 10427
4/05 10019 10490 10568
10313 10823 10682
6/05 10474 10838 10741
10787 11241 10643
8/05 10844 11139 10779
10939 11229 10668
10/05 10683 11042 10584
11071 11459 10631
12/05 11258 11463 10732
11737 11766 10732
2/06 11670 11798 10768
11833 11945 10662
4/06 12015 12105 10643
</Table>
<Table>
--- GROWTH ALLOCATION FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$12,015 ending value $10,000 starting value $12,105 ending value
$10,643 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Growth Allocation A# 5/28/2004 19.92% 13.30%
- ----------------------------------------------------------
Growth Allocation A## 5/28/2004 13.33% 10.02%
- ----------------------------------------------------------
Growth Allocation B# 5/28/2004 19.18% 12.61%
- ----------------------------------------------------------
Growth Allocation B## 5/28/2004 14.18% 10.73%
- ----------------------------------------------------------
Growth Allocation C# 5/28/2004 19.08% 12.56%
- ----------------------------------------------------------
Growth Allocation C## 5/28/2004 18.08% 12.56%
- ----------------------------------------------------------
</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, 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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Growth Allocation
Fund Class A had a total return, before sales charges, of 12.47% versus the
returns of 11.53% for the Lipper Multi-Cap Core Funds Average and 0.56% for the
Lehman Brothers U.S. Aggregate Bond Index and 9.64% for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing groups of the
period. The positive economic backdrop particularly
33
- --------------------------------------------------------------------------------
benefited small caps, as measured by the Russell 2000 Index. They outpaced their
large cap counterparts, gaining 18.91% for the period. International equities,
as measured by the MSCI EAFE Index (a common proxy for foreign stock markets)
were the strongest performing equity category, returning 22.89% for the period.
International equities were supported by strong global growth and concern
regarding a weakening US dollar.
The Fund was positioned for rising interest rates, maintaining duration less
than the Lehman Aggregate. For the six-month period, this short duration
positioning enhanced overall performance. Within the major sectors of the Lehman
Brothers U.S. Aggregate Index (a proxy for U.S. investment grade bonds), ABS
securities were the top performer, while U.S. Treasuries were the weakest. The
Fund is structured around three fixed income indices. For the period the best
performer was the Lehman Brothers 1-3 Year Government Index (up 1.47%), followed
by the Lehman Brothers U.S. Aggregate Index (up 0.56%) and the Lehman U.S. TIPS
Index (down 0.96%). Consequently, the Fund's fixed income diversification
detracted slightly from relative performance, due primarily to the exposure to
TIPS (Treasury Inflation-Protected Securities).
The equity component of the Fund is structured around five equity indices. The
Fund benefited from its allocation to small cap, mid cap and international
equities as each of these asset classes outperformed domestic large caps. For
the period, the MSCI EAFE (up 22.89%) was the top performing index, followed by
the small cap Russell 2000 (up 18.91%), the Russell Midcap (up 14.35%), the
Russell 1000 Value (up 12.87%) and the Russell 1000 Growth (up 7.06%). The Funds
higher allocation to the traditionally more volatile asset classes was the
greatest contributor to the Fund's outperformance relative to its benchmark.
Although the Fund typically uses cash flows to rebalance the Fund, a total
rebalance was performed in February due to the strong performance by certain
asset classes. While there are trading costs that occur when a total rebalance
is instituted, we believe these expenses had a negligible impact upon
performance.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
somewhat defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. In addition to large caps, by design the
equity component targets allocations to mid cap, small cap and international
stocks. When these "riskier" stocks lead the market, we expect our portfolio
will lead the large cap index. While we may tactically make changes to
allocations, under normal circumstances our philosophy is to remain true to our
long-term strategic allocations. We expect that the portfolio managers in the
underlying funds will add further value through active management. Whenever
possible, we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 10.8%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 14.8
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 4.9
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 7.0
- -------------------------------------------------------------------
Hartford International Capital Appreciation
Fund,Class Y 4.0
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 3.0
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 6.0
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 9.9
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 9.9
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 4.0
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 7.0
- -------------------------------------------------------------------
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) 4/30/96 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GROWTH FUND RUSSELL 1000 GROWTH INDEX
----------- -------------------------
4/30/96 9450 10000
9708 10349
9653 10363
9066 9756
9247 10008
9974 10737
10075 10802
10620 11613
10278 11385
10740 12184
10492 12101
9939 11446
4/97 10311 12206
11287 13087
11725 13611
12792 14815
12445 13948
13026 14634
12626 14093
12540 14692
12724 14856
12876 15301
13797 16452
14560 17107
4/98 14611 17344
14373 16852
15210 17884
14950 17766
12639 15100
13520 16259
14195 17566
15020 18902
16494 20607
17281 21817
16639 20820
17495 21917
4/99 17755 21945
17388 21270
18183 22760
17885 22037
17426 22397
17113 21926
18290 23582
19198 24855
22213 27440
21486 26153
23755 27432
23609 29395
4/00 21573 27996
20914 26587
21699 28601
21360 27409
23124 29891
22814 27063
21903 25783
19862 21982
21114 21287
20149 22757
19208 18894
17957 16838
4/01 20069 18967
20126 18688
19507 18255
18909 17799
17325 16344
15798 14712
16338 15484
17859 16971
18031 16939
17491 16640
16997 15949
17514 16501
4/02 16113 15154
15780 14788
14344 13420
13391 12682
13563 12720
12484 11401
13667 12446
14448 13122
13563 12216
13265 11919
13035 11865
13471 12086
4/03 14608 12979
15320 13627
15676 13815
15929 14158
16262 14510
16216 14355
17445 15161
17675 15320
17985 15850
18571 16174
18777 16276
18697 15974
4/04 18456 15789
19225 16083
19627 16284
18134 15363
17698 15288
18456 15433
18594 15674
19260 16213
20098 16849
19237 16287
19007 16460
18559 16160
4/05 18444 15852
19535 16619
19742 16558
20132 17367
19983 17144
20293 17223
19891 17055
20787 17791
20925 17735
21625 18047
21143 18018
21384 18284
4/06 21913 18259
</Table>
<Table>
--- GROWTH FUND --- RUSSELL 1000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$21,913 ending value $18,259 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- -------------------------------------------------------------------
Growth A# 6/8/1949 18.80% 1.77% 8.77% 11.16%
- -------------------------------------------------------------------
Growth A## 6/8/1949 12.27% 0.63% 8.16% 11.05%
- -------------------------------------------------------------------
Growth B# 11/14/1994 17.88% 1.04% NA* NA*
- -------------------------------------------------------------------
Growth B## 11/14/1994 12.88% 0.66% NA* NA*
- -------------------------------------------------------------------
Growth C# 11/14/1994 18.00% 1.08% 8.00% 9.09%
- -------------------------------------------------------------------
Growth C## 11/14/1994 17.00% 1.08% 8.00% 9.09%
- -------------------------------------------------------------------
Growth H# 11/14/1994 18.23% 1.23% NA* NA*
- -------------------------------------------------------------------
Growth H## 11/14/1994 14.23% 0.85% NA* NA*
- -------------------------------------------------------------------
Growth L# 6/8/1949 19.14% 2.01% 8.89% 11.18%
- -------------------------------------------------------------------
Growth L## 6/8/1949 13.48% 1.02% 8.37% 11.09%
- -------------------------------------------------------------------
Growth M# 11/14/1994 18.25% 1.24% NA* NA*
- -------------------------------------------------------------------
Growth M## 11/14/1994 14.25% 0.85% NA* NA*
- -------------------------------------------------------------------
Growth N# 11/14/1994 18.25% 1.24% 8.08% 9.16%
- -------------------------------------------------------------------
Growth N## 11/14/1994 17.25% 1.24% 8.08% 9.16%
- -------------------------------------------------------------------
Growth Y# 2/19/2002 19.36% NA NA 6.56%
- -------------------------------------------------------------------
</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, before sales charge, returned 10.16% for the
six-month period ended April 30, 2006. This placed the Fund ahead of the Russell
1000 Growth benchmark, which rose 7.06%, and the Lipper Large Cap Growth Funds
Average, which rose 7.22%.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets moved higher during the period, supported by strength in
corporate earnings, a solidifying global economy, and benign inflation. For the
six months ended April 30, large cap stocks substantially trailed small cap and
mid cap stocks, when measured using the S&P 500, Russell 2000, and S&P 400
indices, respectively. Value was well ahead of growth for the period, as the
Russell 1000 Growth's 7.06% return was well behind that of the Russell 1000
Value, which rose 12.87%. Despite the headwind of a market favoring smaller,
more value-oriented stocks, all but one sector within the Russell 1000 Growth
rose, led by Telecommunication Services and Energy. Health Care stocks, down
slightly during the period, and Consumer Staples, up modestly, lagged the
broader market.
The Fund's outperformance was the result of strong stock selection, primarily in
the Financials, Energy, and Technology sectors. Among Financials stocks,
mortgage lender Countrywide Financial pushed higher in the face of rising
interest rates as financial results came in ahead of expectations. Shares of the
world's largest trading market, Chicago Mercantile Exchange, continued their
ascent alongside rising trading volumes and expansion of its electronic trading
platform, Globex. UBS, one of the world's fastest growing and most profitable
wealth managers, reported a strong quarter with solid guidance.
Within the energy sector, exploration and production companies Petro-Canada
(crude) and Cameco (uranium) led the Fund's positive results. In Technology,
storage specialist Network Appliance benefited from a revenue reacceleration and
a broadening
35
- --------------------------------------------------------------------------------
product lineup. The firm is well positioned and is taking share within the
growing enterprise storage industry. Mobile phone chip maker Qualcomm moved up
on strong handset sales, an increased dividend, and elevated guidance. Qualcomm
is benefiting from increased 3G penetration in cellular handsets worldwide and
from selling licenses and chips for W-CDMA, an emerging high-speed standard that
is gaining traction in Europe.
Stock selection subtracted from relative results in the Health Care and Consumer
Discretionary sectors. A position in insurer United Health fell in April on news
that stock options grants may have been back dated, benefiting management. We
retain our position as the fundamentals of the company remain sound. Medical
device maker Medtronic traded lower on concerns over industry weakness, mainly
due to recall concerns at competitor Guidant. We continue to hold Medtronic due
to its leadership position in what we believe is an attractive, high growth
business over the long term. In the Consumer Discretionary sector, satellite
radio provider XM Satellite Radio reacted negatively to declining conversion
rates from OEM installations and rising expenses associated with increased
advertising and promotion. We eliminated our position in the stock.
Despite overall positive results in Technology, there were pockets of weakness
during the period. Internet advertiser Yahoo! fell in conjunction with
disappointing guidance and search results, particularly in its affiliate
business. We eliminated Yahoo! due to the company's seeming inability to close
the gap with Google's leading search technology. Shares of semiconductor company
Marvell Technology retreated with concerns that slowing PC growth would
negatively impact the hard disk drive industry. Marvell remains well-positioned
to benefit from upcoming consumer electronics product cycles.
WHAT IS THE OUTLOOK?
We continue to focus our efforts on picking stocks one-at-a-time based on
detailed fundamental research. During the period we initiated new positions in
Media company Viacom, credit reporting company Equifax, and a small position in
specialty pharmaceutical company Elan. We expect Viacom shares to benefit from
its strong top-line growth, solid global advertising growth in its cable
networks, improving margins, and attractive valuation. We look for Equifax to
benefit from a solid US economy, improved cross-selling to corporate customers,
as well as strong revenue growth and margin expansion in its Latin American
division. Elan's Tysabri re-launch should establish a presence in the treatment
of multiple sclerosis, and possibly Crohn's disease. Elan's developing pipeline
for Alzheimer's disease also appears promising.
Based on bottom-up decisions such as these, the Fund ended the period with it
largest overweight positions in Financials and Health Care and its largest
underweights in Consumer Staples and Consumer Discretionary stocks.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.5%
- -------------------------------------------------------------------
Capital Goods 4.0
- -------------------------------------------------------------------
Consumer Cyclical 0.9
- -------------------------------------------------------------------
Consumer Staples 1.0
- -------------------------------------------------------------------
Energy 3.3
- -------------------------------------------------------------------
Finance 24.6
- -------------------------------------------------------------------
Health Care 14.5
- -------------------------------------------------------------------
Services 13.2
- -------------------------------------------------------------------
Technology 29.6
- -------------------------------------------------------------------
Transportation 2.9
- -------------------------------------------------------------------
Short-Term Investments 9.2
- -------------------------------------------------------------------
Other Assets & Liabilities -6.7
- -------------------------------------------------------------------
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) 4/30/96 - 4/03/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
GROWTH OPPORTUNITIES FUND RUSSELL 3000 GROWTH INDEX
------------------------- -------------------------
4/30/96 9450 10000
9711 10367
9548 10307
8688 9635
9037 9929
9863 10630
9897 10642
10367 11392
9982 11211
10484 11948
9899 11807
9211 11151
4/97 9300 11815
10333 12743
10761 13246
11849 14370
11477 13648
12086 14362
11554 13796
11459 14288
11354 14433
11182 14804
12178 15935
12798 16574
4/98 12877 16791
12567 16245
13239 17166
12574 16935
10262 14282
11065 15405
11585 16609
12023 17875
13508 19487
13928 20611
12851 19600
13527 20609
4/99 13536 20759
13177 20171
14138 21557
14110 20873
14357 21132
14423 20746
15463 22240
17259 23517
20758 26078
20482 24926
26502 26483
24033 27980
4/00 21984 26541
20637 25137
23774 27131
23026 25917
26156 28289
26179 25698
23906 24421
19312 20765
21479 20232
21099 21647
18381 18022
16340 16084
4/01 17882 18113
17725 17898
17688 17552
17271 17040
16102 15668
13614 14039
14307 14814
15744 16225
16301 16262
16128 15954
15157 15267
15955 15848
4/02 15165 14620
14969 14230
13291 12920
11989 12122
11703 12156
10769 10918
11522 11891
12568 12570
11665 11702
11507 11415
11349 11346
11665 11555
4/03 12726 12425
13712 13095
14111 13280
14246 13657
14886 14025
14690 13859
15992 14669
16527 14847
16752 15326
17264 15675
17513 15766
17641 15501
4/04 17114 15274
17768 15560
18288 15779
16737 14844
16512 14751
17400 14944
17678 15188
18514 15773
19454 16387
18769 15824
18604 15997
18258 15679
4/05 17784 15320
18927 16089
19657 16079
20801 16894
20892 16674
21358 16756
20952 16553
21862 17286
22494 17234
23959 17655
23619 17621
24057 17936
4/06 24461 17909
</Table>
<Table>
--- GROWTH OPPORTUNITIES FUND --- RUSSELL 3000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$24,461 ending value $17,909 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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
MARIO E. ABULARACH, CFA
Vice President
AVERAGE ANNUAL TOTAL RETURNS(1,2) (as of 4/30/06)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- -------------------------------------------------------------------
Growth Opp A# 3/31/1963 37.55% 6.46% 9.97% 13.14%
- -------------------------------------------------------------------
Growth Opp A## 3/31/1963 29.99% 5.27% 9.35% 12.99%
- -------------------------------------------------------------------
Growth Opp B# 11/14/1994 36.45% 5.72% NA* NA*
- -------------------------------------------------------------------
Growth Opp B## 11/14/1994 31.45% 5.40% NA* NA*
- -------------------------------------------------------------------
Growth Opp C# 11/14/1994 36.45% 5.72% 9.18% 11.01%
- -------------------------------------------------------------------
Growth Opp C## 11/14/1994 35.45% 5.72% 9.18% 11.01%
- -------------------------------------------------------------------
Growth Opp H# 11/14/1994 36.81% 5.93% NA* NA*
- -------------------------------------------------------------------
Growth Opp H## 11/14/1994 32.81% 5.61% NA* NA*
- -------------------------------------------------------------------
Growth Opp L# 3/31/1963 37.79% 6.72% 10.11% 13.17%
- -------------------------------------------------------------------
Growth Opp L## 3/31/1963 31.25% 5.69% 9.57% 13.04%
- -------------------------------------------------------------------
Growth Opp M# 11/14/1994 36.77% 5.92% NA* NA*
- -------------------------------------------------------------------
Growth Opp M## 11/14/1994 32.77% 5.60% NA* NA*
- -------------------------------------------------------------------
Growth Opp N# 11/14/1994 36.82% 5.93% 9.29% 11.11%
- -------------------------------------------------------------------
Growth Opp N## 11/14/1994 35.82% 5.93% 9.29% 11.11%
- -------------------------------------------------------------------
Growth Opp Y# 2/19/2002 38.17% NA NA 12.39%
- -------------------------------------------------------------------
Growth Opp Z# 3/1/1996 38.15% 7.04% NA 10.92%
- -------------------------------------------------------------------
</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, before sales charge, returned
16.74% for the six-month period ended April 30, 2006, outperforming the
benchmark Russell 3000 Growth Index, which rose 8.20%. The Fund also
outperformed the Lipper Multi-Cap Growth Funds Average, which returned 11.59%.
These results were achieved against a backdrop of underperformance for growth
investing. The Russell 3000 Growth's 8.20% return was well below the 13.28%
return posted by the Russell 3000 Value, a bias that was repeated across the
capitalization spectrum.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets rose during the period, supported by strength in corporate
earnings, a solidifying global economy, and benign inflation. For the six-months
ended April 30, large cap stocks substantially trailed small cap and mid cap
stocks, when measured using the S&P 500, Russell 2000, and S&P 400 indexes,
respectively. Every sector within the benchmark rose but one, led by
Telecommunication Services and Energy. Health Care stocks, down slightly during
the period, and Consumer Staples, up modestly, lagged the broader market.
Consistent with the Fund's bottom-up philosophy of investing, outperformance
during the period was driven by stock selection rather than sector allocations.
Relative performance was strong across the board, as the Fund added value in
nine of ten economic sectors. Topping the list was the Technology sector, with
strong absolute contributions from Bankrate, Corning, and Redback Networks.
Bankrate, an online aggregator of financial information for consumers, rose on
strong financial results and increased guidance for the year. Shares of glass
substrate maker Corning rose in concert with strong flat panel television sales
and improving prospects for its other divisions. Network equipment company
Redback beat analyst forecasts for first quarter profit, pushing the stock
higher during the period. Top contributors on a relative basis were Brazilian
airline company Gol Linhas, Industrials company Melco International, and
Bankrate.
37
- --------------------------------------------------------------------------------
Health Care stocks also boosted absolute and relative results, led by biotech
companies Cephalon, Digene, and Shionogi. Cephalon had fallen due to consensus
concerns regarding patent protection and potential generic competition for their
largest drug, Provigil. The company has since settled with all four potential
generic companies, securing protection of the drug through 2011 and driving the
stock price higher during the period. The stock has pulled back on concerns
regarding the company's new drug Sparlon. We continue to own the stock.
Industrials stocks also performed well, as Brazilian low cost airline GOL
Linhas, casino operator Melco International, and Chinese solar panel maker
Suntech Power rose, adding to relative and absolute performance. Canadian
uranium producer Cameco rounded out the list of top relative and absolute
contributors.
The Fund lagged the benchmark in the Consumer Discretionary sector, largely due
to positions in satellite radio companies XM Satellite Radio and Sirius
Satellite, which fell on concerns of rising subscriber acquisition costs.
Retailer Tiffany & Co. also detracted from relative and absolute performance.
Despite significant value added overall, there were pockets of weakness in the
health care sector. Foxhollow Technology, a medical device manufacturer,
announced that their CEO was retiring, raising concerns that spending levels
will rise precipitously in 2006, reducing earnings expectations. Another medical
device company, St. Jude Medical, fell on overall weakness in the implantable
cardiac defibrillator market.
WHAT IS THE OUTLOOK?
Economic growth continues to surprise on the upside. Recent GDP figures have
been volatile, but the rate of expansion heading into 2006 was very strong, and
we expect first quarter data to show a continuation of this trend. While the
economic drag of a more restrictive Fed, higher energy prices, and slowing
housing markets should dampen U.S. growth, over the near term, the momentum of
the global economy is countering many of the headwinds in the U.S.
Currently the Fund's largest exposure is to Technology, followed by Health Care
and Consumer Discretionary, each with over 20% of the Fund. This is consistent
with the overall view that there are ample opportunities across a number of
different sectors regardless of the market's economic views. The Fund's lowest
weights are in the Telecommunication Services, Utilities, and Materials sectors.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.3%
- -------------------------------------------------------------------
Capital Goods 1.4
- -------------------------------------------------------------------
Consumer Cyclical 12.7
- -------------------------------------------------------------------
Energy 3.6
- -------------------------------------------------------------------
Finance 5.4
- -------------------------------------------------------------------
Health Care 20.9
- -------------------------------------------------------------------
Services 12.0
- -------------------------------------------------------------------
Technology 32.7
- -------------------------------------------------------------------
Transportation 2.5
- -------------------------------------------------------------------
Utilities 2.7
- -------------------------------------------------------------------
Short-Term Investments 13.1
- -------------------------------------------------------------------
Other Assets & Liabilities -10.3
- -------------------------------------------------------------------
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 - 4/30/06
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
9529 9795
9856 10202
9868 10213
10016 10364
10007 10303
10137 10402
4/99 10326 10603
10123 10460
10113 10437
10102 10479
10026 10363
9986 10289
10040 10221
10168 10341
10211 10457
10120 10412
10106 10431
10011 10212
4/00 10050 10229
9914 10123
10173 10330
10279 10408
10423 10479
10359 10388
10175 10056
9922 9657
10275 9844
10958 10581
11015 10722
10765 10469
4/01 10624 10339
10689 10525
10340 10230
10498 10381
10587 10503
9962 9797
10359 10039
10688 10406
10572 10363
10465 10436
10110 10290
10216 10538
4/02 10315 10706
10210 10647
9643 9862
9195 9431
9310 9700
9078 9573
9099 9489
9663 10077
9762 10218
10008 10558
10200 10688
10380 10995
4/03 10924 11647
11106 11768
11336 12106
11058 11973
11158 12111
11504 12442
11710 12693
11862 12886
12133 13177
12268 13429
12236 13395
12273 13486
4/04 12100 13394
11868 13168
12017 13356
12169 13538
12384 13803
12555 14004
12794 14257
12856 14429
12979 14644
12918 14625
13139 14840
12695 14408
4/05 12589 14268
12822 14521
12989 14806
13157 15065
13175 15094
13029 14943
12917 14839
13005 14916
13111 15045
13251 15285
13358 15387
13448 15479
4/06 13538 15574
</Table>
<Table>
--- HIGH YIELD FUND --- LEHMAN BROTHERS HIGH YIELD CORPORATE INDEX
$9,550 starting value $10,000 starting value
$13,538 ending value $15,574 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ------------------------------------------------------------
High Yield A# 9/30/1998 7.54% 4.96% 4.71%
- ------------------------------------------------------------
High Yield A## 9/30/1998 2.70% 4.00% 4.07%
- ------------------------------------------------------------
High Yield B# 9/30/1998 6.90% 4.23% 3.96%
- ------------------------------------------------------------
High Yield B## 9/30/1998 1.90% 3.93% 3.96%
- ------------------------------------------------------------
High Yield C# 9/30/1998 6.98% 4.29% 4.02%
- ------------------------------------------------------------
High Yield C## 9/30/1998 5.98% 4.29% 4.02%
- ------------------------------------------------------------
High Yield Y# 9/30/1998 8.06% 5.38% 5.14%
- ------------------------------------------------------------
</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 six month period ended April 30, 2006, The Hartford High Yield Fund
Class A had a total return, before sales charges, of 4.81% versus the returns of
5.11% for the Lipper High Current Yield Fund Average and 4.95% for the Lehman
Brothers High Yield Corporate Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. Despite the period of uncertainty after Hurricanes Katrina
and Rita, long-term bond yields remained relatively stable and ended the year
only modestly higher than where they started. This stability was in part due to
demand from domestic and foreign investors. The result was a flatter yield curve
yield in which investors did not receive substantially higher rates in return
for longer holding periods. Going into the first quarter of 2006, the curve
actually became slightly inverted as the Fed continued to raise its Federal
Funds Target Rate (Fed Funds Rate). So far this year, investor confidence in the
future prospects of the U.S. economy has continued to grow. Overseas economies
are also demonstrating greater strength, contributing further to an improvement
in sentiment among U.S. businesses. This year, many commodities reached
historical highs, and the price of oil again approached record levels.
Therefore, in response to the outlook for a strong economy and potentially
higher inflation, long-term interest rates rose later in the first quarter of
2006. As a result, these rising rates caused most investment grade fixed-rate
bonds to decline in value. In contrast, the outlook for a strong economy bodes
well for the traditionally "risky" bond sectors, since these issuers are more
likely to prosper when the economy is recovering. During the six month period,
these positive economic benefits generally offset the negative impact of rising
rates upon these "risky" sectors. Under these circumstances, the U.S. High Yield
and Emerging Market Debt proved to be the strongest performing bond sectors of
the of period as investors showed an increased appetite for risk. Consequently,
the lower tiers of high yield bonds (CCC-rated and lower) generally outperformed
the higher quality tiers of below investment-grade bonds (BB and B).
During the six months ending April 30, 2006, security selection within the Fund
proved to be the primary driver of performance, with the Automotive sector
largely setting the pace. The Fund was positioned to take advantage of the
announced sale of a controlling interest in General Motor's finance division,
GMAC. In addition, the Fund's holdings within the Electric, Chemicals and
Pharmaceuticals sectors contributed to overall performance. The Fund's high
quality bias partially offset the positive security selection over the last six
months. The Fund is currently limited to
39
- --------------------------------------------------------------------------------
a 10% allocation to CCC-rated securities (which we have fully utilized), whereas
the benchmark is comprised roughly of 14.5% CCC (and lower)-rated securities.
During the latter half of this period, CCC-rated securities proved to be the
clear outperforming ratings category. On a benchmark relative basis, the adverse
effect of rising interest rates on fixed rate securities was mitigated within
the Fund due to the fact that its interest rate duration was roughly one-half of
a year shorter than its benchmark.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% during May's FOMC meeting. The Fed did not disappoint and raised the rate
to 5.0%, having raised rates by 4.0% since June 2004. Statements by Fed
officials indicate that there is a general consensus that policy is at or very
near neutral. Policy going forward is highly "data dependent," which will likely
lead to some increase in market volatility as investors try to anticipate the
Fed's next move. The recent flow of data reflects an economy that is expanding
solidly, as demonstrated by the strength of the job sector and increases in
consumer confidence. Furthermore, business spending remains strong and firms
continue to improve their productivity, helping to sustain healthy profit
margins. The robust underlying fundamental picture of the corporate high yield
market is best demonstrated by the fact that the percentage of issuers
defaulting for the past twelve months through April fell to a 20-year low (as
measured by Standard & Poor's). Based on the strength of the fundamental and
technical position of the market, we continue to maintain a positive outlook for
the High Yield sector, although our enthusiasm is somewhat tempered by the
impressive returns already posted by the asset class in 2006. Indeed, valuation
levels do not provide much margin for error; therefore, complacency is one the
biggest risk we face in the context of the current market.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- --------------------------------------------------------------------
AAA 1.0
- --------------------------------------------------------------------
BBB 0.2
- --------------------------------------------------------------------
BB 25.5
- --------------------------------------------------------------------
B 64.0
- --------------------------------------------------------------------
CCC 9.3
- --------------------------------------------------------------------
TOTAL 100.0%
- --------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 14.5%
- -------------------------------------------------------------------
Capital Goods 2.8
- -------------------------------------------------------------------
Consumer Cyclical 14.6
- -------------------------------------------------------------------
Consumer Staples 1.9
- -------------------------------------------------------------------
Energy 5.0
- -------------------------------------------------------------------
Finance 10.5
- -------------------------------------------------------------------
Health Care 1.9
- -------------------------------------------------------------------
Services 17.7
- -------------------------------------------------------------------
Technology 17.8
- -------------------------------------------------------------------
Transportation 3.3
- -------------------------------------------------------------------
U.S. Government Agencies 1.0
- -------------------------------------------------------------------
Utilities 7.9
- -------------------------------------------------------------------
Short-Term Investments 13.8
- -------------------------------------------------------------------
Other Assets & Liabilities -12.7
- -------------------------------------------------------------------
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 - 4/30/06
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
9550 10000
9560 10057
7/04 9602 10156
9683 10350
9713 10378
10/04 9781 10465
9765 10382
9832 10477
1/05 9836 10543
9838 10481
9764 10427
4/05 9820 10568
9888 10682
9939 10741
7/05 9910 10643
9992 10779
9937 10668
10/05 9880 10584
9915 10631
9989 10732
1/06 10012 10732
10042 10768
9990 10662
4/06 10001 10643
</Table>
<Table>
--- INCOME ALLOCATION FUND --- LEHMAN BROTHERS U.S. AGGREGATE
$9,550 starting value BOND INDEX
$10,001 ending value $10,000 starting value
$10,643 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Income Allocation
A#................. 5/28/2004 1.84% 2.42%
- ----------------------------------------------------------
Income Allocation
A##................ 5/28/2004 -2.74% 0.00%
- ----------------------------------------------------------
Income Allocation
B#................. 5/28/2004 1.12% 1.74%
- ----------------------------------------------------------
Income Allocation
B##................ 5/28/2004 -3.75% -0.28%
- ----------------------------------------------------------
Income Allocation
C#................. 5/28/2004 1.12% 1.74%
- ----------------------------------------------------------
Income Allocation
C##................ 5/28/2004 0.15% 1.74%
- ----------------------------------------------------------
</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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six month period ended April 30, 2006, The Hartford Income Allocation
Fund Class A had a total return, before sales charges, of 1.22% versus the
return of 0.60% for the Lipper Intermediate Investment Grade Funds Average and
0.56% for the Lehman Brothers U.S. Aggregate Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis. Accordingly, High Yield was
the strongest bond sector of the six month period.
The Fund was positioned for rising interest rates, maintaining duration less
than the Lehman Aggregate. For the six-month period, this short duration
positioning enhanced overall performance. Within the major sectors of the Lehman
Brothers U.S. Aggregate Index (a proxy for U.S. investment grade bonds), ABS
securities were the top performer, while U.S. Treasuries were the weakest. The
Fund is structured around six fixed income indices. For the period the best
performer was the Lehman Brothers High Yield Index (up 4.95%), followed by the
Credit Suisse Leveraged Loan Index (up 3.46%), Cash (up 2.04%), the Lehman
Brothers 1-3 Year Government Index (up 1.47%), the Lehman Brothers U.S.
Aggregate Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%).
Consequently, the Fund benefited from its diversification since 4 of the 5 other
indices outperformed the
41
- --------------------------------------------------------------------------------
Lehman Brothers U.S. Aggregate Index. Although the Fund typically uses cash
flows to rebalance the Fund, a hard rebalance was performed in February due to
the strong performance by certain sectors. While there are trading costs that
occur when a hard rebalance is instituted, these expenses had a negligible
impact upon performance.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
somewhat defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. While we may tactically make changes to
allocations, under normal circumstances our philosophy is to remain true to our
long-term strategic allocations. We expect that the portfolio managers in the
underlying funds will add further value through active management. Whenever
possible, we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 7.9%
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 13.9
- -------------------------------------------------------------------
Hartford Income Fund, Class Y 5.0
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 15.9
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 6.9
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 20.8
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 28.8
- -------------------------------------------------------------------
Other Assets & Liabilities 0.8
- -------------------------------------------------------------------
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 - 4/30/06
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
9662 10207
9820 10215
9883 10357
10045 10349
10099 10434
4/03 10314 10629
10459 10608
10540 10251
10193 10319
10273 10592
10563 10493
10580 10518
10637 10625
10804 10711
10895 10827
10995 10908
11080 10624
4/04 10788 10582
10691 10641
10769 10747
10897 10952
11108 10982
11170 11074
11305 10985
11242 11086
11356 11156
11376 11090
11373 11033
11209 11183
4/05 11289 11304
11414 11365
11497 11262
11460 11406
11597 11289
11490 11199
11384 11249
11450 11356
11550 11356
11601 11394
11659 11282
11578 11262
4/06 11590 11262
</Table>
<Table>
--- INCOME FUND --- LEHMAN BROTHERS U.S. AGGREGATE BOND INDEX
$9,550 starting value $10,000 starting value
$11,590 ending value $11,262 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ------------------------------------------------
Income
A#...... 10/31/2002 2.66% 5.69%
- ------------------------------------------------
Income
A##..... 10/31/2002 -1.96% 4.31%
- ------------------------------------------------
Income
B#...... 10/31/2002 1.80% 4.93%
- ------------------------------------------------
Income
B##..... 10/31/2002 -3.07% 4.16%
- ------------------------------------------------
Income
C#...... 10/31/2002 1.80% 4.98%
- ------------------------------------------------
Income
C##..... 10/31/2002 0.82% 4.98%
- ------------------------------------------------
Income
Y#...... 11/28/2003 2.82% 3.85%
- ------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Income Fund Class A
had a total return, before sales charges, of 1.80% versus the return of 0.84%
for the Lipper Corporate Debt Funds BBB Average and 0.12% for the Lehman
Brothers Aggregate Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised the Federal Funds Target Rate (Fed Funds
Rate) at each of its meetings in response to its concerns that monetary policy
had been too accommodative and that strong growth in the U.S. and global
economies could lead to higher inflation. The Fed's decision to tighten monetary
policy and limited demand for credit helped keep long term Treasury bond yields
relatively stable; they ended the year only modestly higher than where they
started. This relative stability was in part due to demand from domestic and
foreign investors. The yield curve flattened, with yields on short-term Treasury
notes only modestly below those on longer-term Treasury bonds. As a result,
investors did not receive substantially higher rates in return for longer
holding periods. Going into the first quarter of 2006, the curve actually became
slightly inverted as the Fed continued to raise the Fed Funds Rate. This year,
investor confidence in the future prospects of the U.S. economy has continued to
grow. Overseas economies are also demonstrating greater strength, contributing
further to an improvement in sentiment among U.S. businesses. During the six
month period, many commodities reached historical highs, and the price of oil
again approached record levels. In response to the outlook for a strong economy,
potentially higher inflation, and growing demand for credit, long-term interest
rates rose to higher levels in the first quarter of 2006. Rising long term rates
caused most investment grade fixed-rate bonds to decline in value. However, the
credit-sensitive sectors generally outperformed Treasurys of similar durations,
reflecting expectations for continued economic growth and growing capacity to
service debt on a timely basis. U.S. High Yield and Emerging Market Debt were
the strongest performing sectors for both the six-month period ended April 30,
2006 and for the first four months of 2006.
The greatest impact upon the Fund's performance relative to the benchmark was
its beneficial exposure to sectors outside the Fund's benchmark -- specifically
High Yield and Emerging Markets Debt. These sectors were the strongest
performers for the period. They benefited from the strength of global economies,
the outlook for stable-to-improving credit quality, and from the continuing
search for yield by investors. With a flat yield curve, investors could not
obtain meaningful increases in yields simply by extending the
43
- --------------------------------------------------------------------------------
maturities of their portfolios. As such, Investors were willing to accept the
risk associated with the higher yields in credit-sensitive sectors such as High
Yield and Emerging Markets, at least in part because of their general confidence
in the economy and the positive prospects for most of the issuers in these
sectors. Since the Fund allocated away from Treasuries to invest in these
sectors, the Fund's resulting underweight to Treasuries was a contributor to
relative performance as they were among the weakest performers during the six
month period. Although rising interest rates detracted from the Fund's
performance on an absolute return basis, the Fund's shorter-than-benchmark
duration added to performance on a relative basis. Having been positioned for
higher rates, the Fund was less sensitive to changes in interest rates than if
it had maintained a benchmark-neutral duration. In addition to benefiting from
sector allocation, the Fund also benefited from selection at the individual
security level. While the greatest contributions from issue selection came from
within the investment grade corporate sector, security selection within the
Mortgage-Backed Securities and Asset-Backed Securities sectors also added value.
Consistent with the Fund's primary objective of high current income, the Fund
maintained a higher-than-median 30-Day SEC Yield relative to the Lipper BBB
Corporate Bond Universe for the months of November through March, placing in the
1st quartile in two of those months and continuing our record of consistently
generating above-average SEC yields while maintaining an A3 credit rating.
WHAT IS THE OUTLOOK?
The Fed raised the Fed Funds Target Rate by another 0.25%, to 4.75%, at the end
of March. The Target rate has been raised a total of 3.75% since June 2004.
Statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. Given recent economic
data as of this discussion on April 30, 2006, the market expectation is almost
certain that the Fed will raise rates again at its meeting in May, and could
also raise rates during the summer. Subsequently, the Fed did, indeed, increase
the Fed Funds rate to 5.00% on May 10, 2006.
The economy appears to be expanding solidly, as demonstrated by continuing job
growth and increases in consumer confidence. Business spending remains strong
and firms continue to utilize their excess capacity. While housing sales appears
to be slowing, investors are split as to whether the housing market will
experience a traditional boom and bust cycle, or will simply moderate and then
stabilize at a slower, but healthy and more sustainable pace. The outcome, which
will take some time to play out, has significant implications for consumer
spending in the future and, therefore, for the strength of the economy. While
growth may moderate, our outlook for the economy remains positive. As a result,
we expect to retain significant exposures to credit-sensitive sectors such as
High Yield and Emerging Markets Debt. These sectors will continue to benefit
from a strong economy, and both remain attractive places in which to pursue
relative-value opportunities. However, our enthusiasm for these and other
credit-sensitive sectors is somewhat tempered by the impressive returns already
posted in 2006, the level to which spreads have already compressed, lingering
uncertainty about the effects of rising bond yields, inflation expectations and
the ongoing reduction in global liquidity.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 35.9%
- -------------------------------------------------------------------
AA 2.4
- -------------------------------------------------------------------
A 10.4
- -------------------------------------------------------------------
BBB 18.3
- -------------------------------------------------------------------
BB 14.8
- -------------------------------------------------------------------
B 16.3
- -------------------------------------------------------------------
CCC 1.0
- -------------------------------------------------------------------
NR 0.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 5.1%
- -------------------------------------------------------------------
Capital Goods 0.6
- -------------------------------------------------------------------
Consumer Cyclical 6.8
- -------------------------------------------------------------------
Consumer Staples 1.3
- -------------------------------------------------------------------
Energy 3.5
- -------------------------------------------------------------------
Finance 31.5
- -------------------------------------------------------------------
Foreign Governments 5.0
- -------------------------------------------------------------------
General Obligations 0.2
- -------------------------------------------------------------------
Health Care 1.3
- -------------------------------------------------------------------
Services 8.1
- -------------------------------------------------------------------
Technology 6.2
- -------------------------------------------------------------------
Transportation 1.8
- -------------------------------------------------------------------
U.S. Government Agencies 17.5
- -------------------------------------------------------------------
U.S. Government Securities 4.4
- -------------------------------------------------------------------
Utilities 3.7
- -------------------------------------------------------------------
Short-Term Investments 0.7
- -------------------------------------------------------------------
Other Assets & Liabilities 2.3
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS U.S. TREASURY
INFLATION PLUS FUND INFLATION-PROTECTED SECURITIES INDEX
------------------- ------------------------------------
10/31/02 9550 10000
9528 9993
9842 10329
9889 10407
10245 10796
10082 10621
4/03 10037 10594
10507 11097
10407 10983
9921 10476
10072 10664
10390 11017
10412 11077
10411 11084
10500 11197
10609 11325
10842 11586
11003 11772
4/04 10488 11201
10628 11403
10621 11408
10707 11514
10976 11823
10988 11846
11077 11965
11044 11936
11228 12144
11226 12145
11173 12093
11173 12104
4/05 11367 12335
11446 12420
11469 12473
11248 12211
11487 12493
11456 12475
11310 12316
11316 12337
11442 12489
11441 12488
11429 12482
11190 12208
4/06 11164 12198
</Table>
<Table>
--- INFLATION PLUS FUND --- LEHMAN BROTHERS U.S. TREASURY
$9,550 starting value INFLATION-PROTECTED SECURITIES INDEX
$11,164 ending value $10,000 starting value
$12,198 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------------
Inflation Plus A# 10/31/2002 -1.78% 4.56%
- --------------------------------------------------------
Inflation Plus A## 10/31/2002 -6.20% 3.20%
- --------------------------------------------------------
Inflation Plus B# 10/31/2002 -2.52% 3.85%
- --------------------------------------------------------
Inflation Plus B## 10/31/2002 -7.21% 3.06%
- --------------------------------------------------------
Inflation Plus C# 10/31/2002 -2.43% 3.85%
- --------------------------------------------------------
Inflation Plus C## 10/31/2002 -3.37% 3.85%
- --------------------------------------------------------
Inflation Plus Y# 11/28/2003 -1.41% 3.30%
- --------------------------------------------------------
</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
Managing Director
TIMOTHY WILHIDE
Senior Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Inflation Plus Fund
Class A had a total return, before sales charges, of -1.29% versus the return of
- -0.77 % for the Lipper Treasury Inflation-Protected Securities Funds Average and
- -0.96% for the Lehman Brothers U.S. Treasury Inflation-Protected Securities
Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve (the Fed) raised short-term interest rates at
each of its meetings in response to its concerns that monetary policy had been
too accommodative and that strong growth in the U.S. and global economies would
lead to higher inflation. Despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield curve in which investors did not receive substantially
higher rates in return for longer holding periods. Going into the first quarter
of 2006, the curve actually became slightly inverted (short-term yields higher
than long-term yields) as the Fed continued to raise the Fed Funds rate. So far
this year, investor confidence about prospects for the U.S. economy has
continued to grow. Overseas economies are also demonstrating greater strength,
contributing further to an improvement in sentiment among U.S. businesses.
Furthermore, many commodities reached historical highs and the price of oil
again approached record levels. Thus, in response to the outlook for a strong
economy and potentially higher inflation, long-term interest rates rose in March
and April. As a result, these rising rates caused most investment grade
fixed-rate bonds to decline in value. While U.S. Treasury Inflation-Protected
Securities (TIPS) have a feature that protects principal values from the
negative impact of inflation, they are still sensitive to the changes in
interest rates. Subsequently, TIPS declined in response to rising rates.
The greatest impact upon the Fund's performance was its sensitivity to changes
in interest rates. Late in 2005, the Fund's duration was slightly long of the
benchmark, having underweighted TIPS in the 1 to 5 year maturities in response
to expectation that the real rate (nominal rate minus inflation) curve would
continue to flatten. However, early in the new year, the Fund shortened its
duration as the first quarter economic data proved much stronger than expected,
raising the odds of more aggressive Fed tightening through the first half of
2006. The Fund
45
- --------------------------------------------------------------------------------
also shifted its position on the yield curve. At the start of the year, the Fund
had been constructed to benefit from the expectation that short rates would rise
faster than long rates, and that seasonal inflation adjustments to TIPS would
detract from the short-term TIPS maturities. By March, though, the Fund had
shifted in favor of a steeper real rate curve as increases in crude oil and
retail gasoline prices attracted investors to shorter TIPS, and the TIPS curve
steepened in March in sympathy with the sharp steepening in nominal (fixed-rate)
Treasuries. The Fund closed the six-month period slightly short of the Index
duration, modestly overweight shorter maturity TIPS, and modestly underweight
long TIPS.
Gross of expenses, the Fund slightly outperformed the benchmark for the
six-month period. Overall, the Fund duration and yield curve management added to
performance relative to the benchmark. Since the Fund remained at least 95%
invested in the TIPS sector, investments in other sectors had minimal impact
upon performance. Given that nearly all of the TIPS were U.S. Treasurys,
security selection among TIPS issues was primarily a result of duration and
yield curve management. During the period, the Fund was also able to take
advantage of several trading opportunities by making relative value TIPS swaps
along the TIPS yield curve.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates since June 2004. Statements by Fed officials indicate
that there is a general consensus that policy is at or very near neutral. Policy
going forward is highly "data dependent" which will likely lead to some increase
in market volatility as market participants try to anticipate the Fed's next
move. At this point, policy is well beyond that stage where rate hikes were
automatic regardless of the incoming data. Given recent economic data as of this
discussion on April 30, 2006, the market expectation is almost certain that the
Fed will raise rates again at its meeting in May, and could also raise rates
during the summer. Subsequently, the Fed did, indeed, increase the Fed Funds
rate to 5.00% on May 10, 2006.
The economy appears to be expanding solidly, as demonstrated by the strength of
the job sector and increases in consumer confidence. Business spending remains
strong and firms continue to utilize their excess capacity. While the housing
sales appears to be slowing, investors are split as to whether the housing
market will experience a traditional boom and bust cycle, or will stabilize at a
slower, more sustainable pace. The outcome, which will take some time to play
out, has significant implications upon consumer spending in the future.
Regarding TIPS, fuel prices are hitting record highs and businesses are
reporting increasing pricing power. As a result, we expect that the CPI
(Consumer Price Index) will be pushing higher in the next several months. Though
real rates are trending higher, they are doing so at a much slower pace than
nominal interest rates. In this environment, we find TIPS, and in particularly
shorter-term TIPS, to be more attractive than nominal (fixed rate) Treasuries
over the new few months.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Finance 1.0%
- -------------------------------------------------------------------
U.S. Government Securities 98.6
- -------------------------------------------------------------------
Other Assets & Liabilities 0.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 99.4%
- -------------------------------------------------------------------
A 0.5
- -------------------------------------------------------------------
BBB 0.1
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
INTERNATIONAL CAP APP FUND MSCI EAFE INDEX MSCI EAFE GROWTH INDEX
-------------------------- --------------- ----------------------
4/30/01 9450 10000 10000
8836 9655 9601
8411 9264 9137
8297 9096 8915
7825 8867 8509
6861 7971 7706
7201 8175 8013
7815 8477 8425
8023 8528 8474
7702 8075 8017
7834 8132 8125
8222 8616 8477
4/02 8080 8638 8488
8146 8755 8512
7768 8410 8295
7002 7580 7411
6880 7565 7355
6067 6755 6716
6549 7118 7097
7154 7442 7306
6517 7192 7138
6574 6893 6785
6423 6735 6639
6234 6608 6575
4/03 6990 7263 7151
7605 7710 7527
7794 7901 7661
8031 8093 7762
8381 8290 7905
8400 8547 8174
9100 9080 8645
9207 9284 8848
9711 10009 9457
10082 10152 9642
10548 10388 9826
10796 10450 9837
4/04 10282 10223 9600
10463 10254 9583
10796 10496 9714
10035 10157 9320
10082 10204 9331
10586 10472 9563
11024 10830 9883
11642 11573 10567
11975 12081 11015
11604 11860 10762
11480 12375 11195
11052 12069 10925
4/05 10948 11799 10723
11033 11817 10764
11090 11979 10853
11480 12347 11184
11813 12662 11507
12061 13229 11993
11547 12843 11666
11957 13161 11888
12649 13774 12517
13614 14621 13289
13402 14591 13140
13807 15079 13655
4/06 14465 15810 14282
</Table>
<Table>
--- INTERNATIONAL CAP APP --- MSCI EAFE INDEX -- MSCI EAFE GROWTH INDEX
FUND $10,000 starting value $10,000 starting value
$9,450 starting value $15,810 ending value $14,282 ending value
$14,465 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.
MSCI EAFE GROWTH INDEX is a free float-adjusted market capitalization index that
is designed to measure developed market equity performance (excluding the U.S.
and Canada) of the growth securities within the MSCI EAFE Index. You cannot
invest directly in an index.
The fund has changed its benchmark from the MSCI EAFE Index to the MSCI EAFE
Growth Index because the fund's investment manager believes that the MSCI EAFE
Growth Index is better suited to the investment strategy of the fund.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ---------------------------------------------------------------
Int'l Cap App A# 4/30/2001 32.12% 8.88% 8.88%
- ---------------------------------------------------------------
Int'l Cap App A## 4/30/2001 24.85% 7.66% 7.66%
- ---------------------------------------------------------------
Int'l Cap App B# 4/30/2001 31.27% 8.11% 8.11%
- ---------------------------------------------------------------
Int'l Cap App B## 4/30/2001 26.27% 7.82% 7.82%
- ---------------------------------------------------------------
Int'l Cap App C# 4/30/2001 31.16% 8.11% 8.11%
- ---------------------------------------------------------------
Int'l Cap App C## 4/30/2001 30.16% 8.11% 8.11%
- ---------------------------------------------------------------
Int'l Cap App Y# 4/30/2001 32.76% 9.36% 9.36%
- ---------------------------------------------------------------
</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
MATTHEW D. HUDSON
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford International Capital Appreciation Fund Class A, before sales
charge, returned 25.26% for the six-month period ended April 30, 2006, versus
returns of 22.43% for the MSCI EAFE Growth Index, and 23.10% for the MSCI EAFE
Index. The average fund in the Lipper International Multi-Cap Growth peer group
returned 24.52%.
WHY DID THE FUND PERFORM THIS WAY?
International equity markets advanced during the semi-annual period, with all
sectors of the MSCI EAFE Growth Index delivering positive returns. Industrials,
Materials and Financials were the strongest performing sectors within the MSCI
EAFE Growth Index. While still delivering positive returns, Health Care,
Consumer Staples and Telecommunication Services rose the least during the
period. Importantly, we managed to outpace the benchmark despite the continued
strength of non-growth sectors and, much to our satisfaction, outperformance was
due to stock selection across multiple industries.
Financials, Energy and Industrials were the areas of greatest relative strength
during the period. Vallourec (Capital Goods) was the top contributor to both
absolute and relative performance. Based in France, Vallourec, the world's
second largest manufacturer of seamless steel tubes used in oil drilling
projects, benefited from increased demand from Energy companies. Within
Financials, London Stock Exchange (Diversified Financials), a UK securities
market, also advanced sharply during the period. Positive relative contributors
within Energy included Canadian companies Cameco, Tenaris and Suncor Energy.
Lastly, Carphone Warehouse (Retailing) contributed meaningfully to the Fund's
return on news of stronger than expected earnings driven by the UK mobile phone
retailer's dominant position in the fast growing market for handsets with
increased functionality.
47
- --------------------------------------------------------------------------------
Stock selection within Consumer Discretionary, Consumer Staples and Information
Technology detracted from relative performance. Rakuten (Retailing), Japan's
biggest online retailer, Nestle (Food, Beverage & Tobacco) and Japan Tobacco
(Food, Beverage & Tobacco) were among the detractors in the consumer sector.
Within Information Technology, shares of Logitech International (Technology
Hardware & Equipment) a Swiss maker of computer peripherals, declined after
reporting weaker than expected earnings despite excellent growth for the
quarter.
The Fund's sector allocations were additive to relative performance, as the
benefit of having an underweight to the lagging Telecommunication Services and
Health Care sectors more than offset the headwind of maintaining an underweight
in the strong performing Materials and Industrials sectors. We are encouraged by
the fact that we were able to hold our own in this environment of strong
performance in sectors we are underweight.
WHAT IS THE OUTLOOK?
Our focus remains on stock and sector selections that result from intense
bottom-up research, diligently meeting with the management of leading companies
globally, and leveraging the strong research capabilities of our firm. Sector
positioning is based on our bottom-up investment process. At the end of the
period, the Fund remained overweight the Consumer Discretionary, Information
Technology and Financials sectors relative to the MSCI EAFE Growth Index and
underweight the Materials, Consumer Staples and Health Care sectors.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Austria 1.2%
- -------------------------------------------------------------------
Belgium 1.2
- -------------------------------------------------------------------
Canada 5.7
- -------------------------------------------------------------------
Finland 2.2
- -------------------------------------------------------------------
France 16.5
- -------------------------------------------------------------------
Germany 6.0
- -------------------------------------------------------------------
Greece 0.9
- -------------------------------------------------------------------
Hong Kong 0.6
- -------------------------------------------------------------------
Ireland 0.5
- -------------------------------------------------------------------
Israel 0.6
- -------------------------------------------------------------------
Italy 0.6
- -------------------------------------------------------------------
Japan 16.7
- -------------------------------------------------------------------
Luxembourg 3.0
- -------------------------------------------------------------------
Mexico 3.4
- -------------------------------------------------------------------
Netherlands 4.4
- -------------------------------------------------------------------
Norway 1.5
- -------------------------------------------------------------------
South Korea 2.6
- -------------------------------------------------------------------
Spain 1.0
- -------------------------------------------------------------------
Sweden 2.0
- -------------------------------------------------------------------
Switzerland 6.3
- -------------------------------------------------------------------
Taiwan 0.7
- -------------------------------------------------------------------
United Kingdom 16.8
- -------------------------------------------------------------------
United States 26.5
- -------------------------------------------------------------------
Other Assets & Liabilities -20.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.4%
- -------------------------------------------------------------------
Capital Goods 0.5
- -------------------------------------------------------------------
Consumer Cyclical 7.8
- -------------------------------------------------------------------
Consumer Staples 3.6
- -------------------------------------------------------------------
Energy 5.2
- -------------------------------------------------------------------
Finance 22.7
- -------------------------------------------------------------------
Health Care 8.7
- -------------------------------------------------------------------
Services 9.2
- -------------------------------------------------------------------
Technology 22.3
- -------------------------------------------------------------------
Transportation 0.8
- -------------------------------------------------------------------
Utilities 3.2
- -------------------------------------------------------------------
Short-Term Investments 26.5
- -------------------------------------------------------------------
Other Assets & Liabilities -20.9
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
INTERNATIONAL OPPORTUNITIES MSCI AC WORLD FREE EX U.S. INDEX
--------------------------- --------------------------------
7/22/96 9450 10000
9469 10000
9507 10058
9658 10308
9686 10205
10130 10599
10220 10476
10115 10284
10172 10472
10172 10450
4/97 10115 10538
10706 11189
11162 11807
11486 12046
10722 11098
11276 11698
10484 10702
10350 10568
10305 10690
10452 11010
11124 11744
11620 12150
4/98 11864 12237
11932 12015
11952 11970
12059 12084
10344 10380
10023 10161
10676 11225
11289 11828
11597 12236
11938 12222
11665 11949
12289 12526
4/99 12748 13152
12211 12534
12784 13110
13106 13418
13116 13464
13194 13556
13634 14060
14443 14622
16134 16017
15276 15148
16312 15557
16228 16143
4/00 15381 15242
14784 14852
15334 15484
14872 14873
15082 15057
14326 14221
13685 13769
13101 13152
13629 13601
13706 13805
12627 12712
11758 11813
4/01 12616 12617
12154 12268
11781 11798
11516 11535
11186 11249
10028 10056
10282 10337
10866 10810
11075 10949
10546 10480
10524 10556
11086 11173
4/02 11020 11202
11131 11324
10613 10835
9511 9779
9367 9779
8232 8743
8849 9212
9224 9655
8838 9343
8431 9015
8166 8832
7990 8661
4/03 8717 9496
9213 10101
9345 10380
9621 10657
9962 10974
10017 11282
10646 12013
10866 12275
11620 13212
11752 13424
12039 13766
12105 13850
4/04 11763 13420
11852 13450
12149 13754
11576 13353
11576 13460
11929 13893
12370 14376
13131 15374
13627 16034
13329 15758
13781 16535
13439 16087
4/05 13186 15690
13252 15788
13516 16085
14178 16679
14553 17106
15082 17988
14476 17333
14751 17916
15496 18778
16569 20087
16259 20029
16801 20611
4/06 17719 21674
</Table>
<Table>
--- INTERNATIONAL OPPORTUNITIES FUND --- MSCI AC WORLD FREE EX U.S. INDEX
$9,450 starting value $10,000 starting value
$17,719 ending value $21,674 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -----------------------------------------------------------
Int'l Opp A# 7/22/1996 34.38% 7.03% 6.64%
- -----------------------------------------------------------
Int'l Opp A## 7/22/1996 26.99% 5.82% 6.03%
- -----------------------------------------------------------
Int'l Opp B# 7/22/1996 33.36% 6.23% NA*
- -----------------------------------------------------------
Int'l Opp B## 7/22/1996 28.36% 5.91% NA*
- -----------------------------------------------------------
Int'l Opp C# 7/22/1996 33.21% 6.17% 5.84%
- -----------------------------------------------------------
Int'l Opp C## 7/22/1996 32.21% 6.17% 5.84%
- -----------------------------------------------------------
Int'l Opp Y# 7/22/1996 34.99% 7.51% 7.12%
- -----------------------------------------------------------
</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
NICOLAS M. CHOUMENKOVITCH
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford International Opportunities Fund Class A, before sales charge,
returned 22.41% for the six-month period ended April 30, 2006. The Fund trailed
the 23.11% return of the Lipper International Core Funds peer group average and
the 25.04% return of the MSCI All-Country World Free ex-US Index.
WHY DID THE FUND PERFORM THIS WAY?
Despite volatile energy prices and rising interest rates, global equities
continued their strong performance during the period. As measured by the MSCI
All-Country World Free ex-US Index, all regions posted double-digit returns.
Emerging Markets and Latin America gained the most, followed by North America
(Canada), Japan and Europe. Materials, Industrials and Information Technology
sectors gained the most during the period, while Telecommunication Services
stocks lagged.
While stock selection within many sectors contributed positively to
benchmark-relative performance, the Fund's sector positioning was the primary
reason for underperformance relative to the benchmark. In particular, an
underweight to Materials, the best performing sector, and overweight positions
within Health Care and Consumer Staples, which lagged other areas of the market,
were headwinds to relative performance.
The largest detractors from relative performance were Nestle (Food, Beverage &
Tobacco), Takefuji (Diversified Financials) and Nippon Tel & Tel
(Telecommunication Services). Japanese consumer finance company Takefuji
declined subsequent to its mixed earnings outlook. We eliminated Takefuji during
the period and maintained positions in both Nestle and Nippon Tel & Tel.
Telecommunication Services stocks were among the largest detractors from the
Fund's absolute performance. Vodafone (Telecommunication Services), which
reduced its growth forecast, and Mobile Telesystems (Telecommunication
Services), which announced disappointing fourth-quarter results, were among the
leading detractors.
On the positive side, the Fund benefited from strong contributors within the
Financials and Materials sectors. Hong Kong Exchanges (Diversified Financials)
benefited from volume growth within Chinese equity markets. UBS (Diversified
Financials) ascended steadily throughout the period on continued growth of its
money management and trading businesses. Within Materials, Xstrata, a
diversified mining company that owns the world's largest zinc smelter, and
Alcan, the world's second-largest maker of primary aluminum, were leading
contributors to performance.
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 the largest geographical position in the
Fund at the end of the period.
49
- --------------------------------------------------------------------------------
The macroeconomic backdrop for Europe continues to be constructive, with
expectations for growth in the core European economies nudging higher. The
European economy is being supported by export demand from emerging markets as
well as domestic demand driven by an accelerating credit cycle. Our overall
assessment of the Japanese equity market at this time is that valuation, in
general, has gone from a great story to a good one. We remain optimistic on the
outlook for Asian equities into the rest of the year despite the run-up seen in
the first quarter. While valuation multiples are fairly stretched with the
strong run-up in equities, growth momentum remains intact. From a sector
standpoint, the Fund ended the period overweight Health Care, Consumer Staples
and Information Technology and underweight Utilities, Industrials and
Telecommunication Services.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 2.1%
- -------------------------------------------------------------------
Brazil 2.0
- -------------------------------------------------------------------
Canada 7.1
- -------------------------------------------------------------------
Finland 2.3
- -------------------------------------------------------------------
France 13.0
- -------------------------------------------------------------------
Germany 5.1
- -------------------------------------------------------------------
Greece 0.8
- -------------------------------------------------------------------
Hong Kong 1.3
- -------------------------------------------------------------------
Hungary 0.5
- -------------------------------------------------------------------
India 0.8
- -------------------------------------------------------------------
Ireland 0.8
- -------------------------------------------------------------------
Italy 5.2
- -------------------------------------------------------------------
Japan 18.8
- -------------------------------------------------------------------
Luxembourg 0.5
- -------------------------------------------------------------------
Mexico 2.1
- -------------------------------------------------------------------
Netherlands 1.3
- -------------------------------------------------------------------
Norway 3.4
- -------------------------------------------------------------------
South Africa 1.5
- -------------------------------------------------------------------
South Korea 1.0
- -------------------------------------------------------------------
Spain 3.8
- -------------------------------------------------------------------
Sweden 1.6
- -------------------------------------------------------------------
Switzerland 9.4
- -------------------------------------------------------------------
Taiwan 3.5
- -------------------------------------------------------------------
United Kingdom 8.7
- -------------------------------------------------------------------
Short-Term Investments 26.3
- -------------------------------------------------------------------
Other Assets & Liabilities -22.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 10.0%
- -------------------------------------------------------------------
Capital Goods 1.5
- -------------------------------------------------------------------
Consumer Cyclical 12.5
- -------------------------------------------------------------------
Consumer Staples 5.2
- -------------------------------------------------------------------
Energy 9.1
- -------------------------------------------------------------------
Finance 27.3
- -------------------------------------------------------------------
Health Care 8.6
- -------------------------------------------------------------------
Services 4.9
- -------------------------------------------------------------------
Technology 14.0
- -------------------------------------------------------------------
Transportation 1.7
- -------------------------------------------------------------------
Utilities 1.8
- -------------------------------------------------------------------
Short-Term Investments 26.3
- -------------------------------------------------------------------
Other Assets & Liabilities -22.9
- -------------------------------------------------------------------
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 - 4/30/06
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 10051
9204 9730
9044 9365
9044 9388
7825 8233
8335 8554
8902 8875
8713 8758
8581 8585
8562 8792
8968 9305
4/02 9346 9565
9620 9980
9507 9671
8921 9000
8713 8917
7834 8188
7910 8117
8155 8408
8331 8345
8142 8223
8123 8207
8094 8157
4/03 9098 8834
9827 9576
9959 10030
10357 10357
10868 11015
11569 11642
12241 12443
12322 12432
12884 13194
13209 13691
13554 14117
14021 14484
4/04 13757 14113
13453 14116
13848 14613
13108 14028
12996 14139
13179 14562
13635 15016
14383 16191
14973 16992
15337 17232
15746 18014
15292 17637
4/05 14803 17128
14917 17210
15292 17537
15905 18172
16223 18693
16632 19398
16212 18832
16536 19517
17669 20747
18977 22263
18938 22281
19715 23268
4/06 20699 24427
</Table>
<Table>
--- INTERNATIONAL SMALL CO FUND --- S&P/CITIGROUP EURO-PACIFIC
$9,450 starting value EXTENDED MARKET INDEX
$20,699 ending value $10,000 starting value
$24,427 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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
SIMON H. THOMAS
Vice President
AVERAGE ANNUAL TOTAL RETURNS(1) (as of 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ----------------------------------------------------------------
Int'l Small Co A# 4/30/2001 39.84% 16.97% 16.97%
- ----------------------------------------------------------------
Int'l Small Co A## 4/30/2001 32.14% 15.65% 15.65%
- ----------------------------------------------------------------
Int'l Small Co B# 4/30/2001 38.87% 16.31% 16.31%
- ----------------------------------------------------------------
Int'l Small Co B## 4/30/2001 33.87% 16.09% 16.09%
- ----------------------------------------------------------------
Int'l Small Co C# 4/30/2001 38.77% 16.11% 16.11%
- ----------------------------------------------------------------
Int'l Small Co C## 4/30/2001 37.77% 16.11% 16.11%
- ----------------------------------------------------------------
Int'l Small Co Y# 4/30/2001 40.37% 17.47% 17.47%
- ----------------------------------------------------------------
</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 27.68% for the six-months ended April 30, 2006. The Fund underperformed
the 29.70% return of the benchmark, the S&P/Citigroup Euro Pacific EMI Index,
but outpaced the 27.52% return for the Lipper International Small/ Mid Cap Core
Average.
WHY DID THE FUND PERFORM THIS WAY?
International equity markets advanced markedly during the period. Returns were
highest in emerging markets and Continental Europe, which experienced a high
volume of mergers and acquisition activity and many IPO offerings. All ten
economic sectors experienced positive returns during the period, led by Energy
(up 45%) and Materials (up 42%). The lowest-returning sectors were still up
significantly: Health Care (up 18%) and Consumer Staples (up 20%).
Fund returns during the period were helped by strong stock selection,
particularly among Industrials and Consumer Discretionary stocks, while an
overweight position in the lagging Health Care sector and a modest cash position
detracted from results. The Fund's strongest relative contributors to
performance for the quarter included: Union Tool (+77%), a Japanese supplier of
micro-thin drill bits; Hellenic Technodomik (+96%), Greece's largest
construction company; Hagemeyer (+110%), a Dutch supplier of electrical and
industrial goods; and GEA Group (+66%), a German engineering services company
which supplies production equipment to chemical, oil, and industrial customers.
These stocks were also strong absolute contributors, along with Japan Petroleum
Exploration (+49%), a Japanese oil and gas company, and Rhodia (+63%), a French
specialty chemicals company.
The largest detractors to relative and absolute performance included: GCAP Media
(-19%), a British media company; Northern Foods (-34%), a UK food producer;
Sorin (-9%), an Italian medical technology company; and Jardine Lloyd Thompson
(-15%), a British insurance broker.
WHAT IS THE OUTLOOK?
Our investment philosophy is built on bottom-up analysis with an emphasis on
solid long-term absolute returns. This disciplined approach has, at times,
prevented the Fund from fully participating in momentum-driven markets typified
by the environment in 2005. Recently, we have begun to a see a gradual return to
discipline in the markets, evidenced by certain events that played out during
the quarter. Livedoor, a Japanese internet stock, is a telling example of this
change in sentiment. The stock, which we did not own, was in many ways
emblematic of the momentum
51
- --------------------------------------------------------------------------------
driven market for Japanese small caps. Following a surge in price in 2005, the
stock came crashing down in January after authorities raided the company's
offices and accused management of providing false financial information. This
scandal sparked a significant correction in Japanese small caps, particularly
micro cap stocks. These stocks declined in part because they lacked solid
fundamentals. In contrast, many of our higher quality holdings, which lagged
over the past year, outperformed. We are encouraged by these signs of a more
rational market for Asian small cap markets.
As a result of bottom-up stock selection, the Fund ended the period overweight
the Health Care, Consumer Staples, and Energy sectors, while maintaining
underweights among Financials, Materials, and Utilities stocks. We ended the
period holding 145 stocks spread among 25 countries.
DIVERSIFICATION BY COUNTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- -------------------------------------------------------------------
Australia 5.2%
- -------------------------------------------------------------------
Belgium 0.7
- -------------------------------------------------------------------
China 1.3
- -------------------------------------------------------------------
Denmark 1.2
- -------------------------------------------------------------------
Finland 1.7
- -------------------------------------------------------------------
France 5.9
- -------------------------------------------------------------------
Germany 8.0
- -------------------------------------------------------------------
Greece 1.8
- -------------------------------------------------------------------
Hong Kong 1.1
- -------------------------------------------------------------------
India 0.7
- -------------------------------------------------------------------
Italy 5.1
- -------------------------------------------------------------------
Japan 24.4
- -------------------------------------------------------------------
Liechtenstein 0.7
- -------------------------------------------------------------------
Luxembourg 0.5
- -------------------------------------------------------------------
Malaysia 1.5
- -------------------------------------------------------------------
Netherlands 1.7
- -------------------------------------------------------------------
Portugal 0.6
- -------------------------------------------------------------------
Singapore 0.4
- -------------------------------------------------------------------
South Korea 2.4
- -------------------------------------------------------------------
Spain 0.6
- -------------------------------------------------------------------
Sweden 4.1
- -------------------------------------------------------------------
Switzerland 6.5
- -------------------------------------------------------------------
Thailand 0.4
- -------------------------------------------------------------------
United Kingdom 17.9
- -------------------------------------------------------------------
United States 26.1
- -------------------------------------------------------------------
Other Assets & Liabilities -20.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 11.0%
- -------------------------------------------------------------------
Capital Goods 8.2
- -------------------------------------------------------------------
Consumer Cyclical 16.7
- -------------------------------------------------------------------
Consumer Staples 3.5
- -------------------------------------------------------------------
Energy 3.2
- -------------------------------------------------------------------
Finance 18.1
- -------------------------------------------------------------------
Health Care 10.0
- -------------------------------------------------------------------
Services 10.2
- -------------------------------------------------------------------
Technology 9.1
- -------------------------------------------------------------------
Transportation 3.3
- -------------------------------------------------------------------
Utilities 1.1
- -------------------------------------------------------------------
Short-Term Investments 26.1
- -------------------------------------------------------------------
Other Assets & Liabilities -20.5
- -------------------------------------------------------------------
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 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
MIDCAP FUND S & P MIDCAP 400 INDEX
----------- ----------------------
12/30/97 9450 10000
9441 10074
9138 9883
9970 10701
10442 11184
4/98 10669 11388
10291 10876
10849 10944
10669 10520
8581 8562
9110 9361
9866 10197
10480 10706
11624 12000
11907 11533
11378 10929
12342 11234
4/99 13277 12120
13438 12173
14358 12825
13951 12552
13753 12122
13450 11748
14235 12346
14991 12994
17455 13766
17406 13379
20126 14315
21353 15513
4/00 20077 14972
19026 14785
20929 15002
21102 15239
23347 16940
23053 16824
22778 16254
20236 15027
21795 16177
22106 16537
20838 15593
19079 14434
4/01 20871 16026
21216 16399
21138 16333
20681 16090
19701 15563
17350 13628
18464 14230
19968 15289
20782 16079
20403 15995
20525 16015
21662 17160
4/02 21383 17080
21495 16791
20146 15562
18040 14054
17951 14126
16425 12988
17272 13550
18843 14334
17662 13745
17416 13344
17260 13026
17394 13136
4/03 18809 14089
20369 15257
20492 15451
20670 16000
21617 16726
21160 16469
22932 17715
23356 18332
23991 18641
24537 19045
24760 19503
24626 19585
4/04 23946 18943
24269 19335
24838 19776
23623 18853
23579 18803
24671 19360
25194 19670
26724 20841
27816 21714
27304 21160
27975 21870
27566 21628
4/05 26621 20787
28146 22039
29158 22550
30398 23734
29909 23470
30421 23650
29943 23142
31887 24273
32335 24440
34129 25881
34197 25664
34822 26304
4/06 35285 26675
</Table>
<Table>
--- MIDCAP FUND --- S & P MIDCAP 400 INDEX
$9,450 starting value $10,000 starting value
$35,285 ending value $26,675 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -------------------------------------------------------------
MidCap A# 12/31/1997 32.54% 11.07% 17.14%
- -------------------------------------------------------------
MidCap A## 12/31/1997 25.25% 9.82% 16.35%
- -------------------------------------------------------------
MidCap B# 12/31/1997 31.57% 10.25% NA*
- -------------------------------------------------------------
MidCap B## 12/31/1997 26.57% 9.98% NA*
- -------------------------------------------------------------
MidCap C# 12/31/1997 31.66% 10.32% 16.36%
- -------------------------------------------------------------
MidCap C## 12/31/1997 30.66% 10.32% 16.36%
- -------------------------------------------------------------
MidCap Y# 12/31/1997 33.18% 11.64% 17.71%
- -------------------------------------------------------------
</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 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, (2) for reinvestment of
capital gains distributions and income dividends, and (3) to
certain qualified retirement plans that include (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 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 17.84% for the
six-month period ended April 30, 2006, outperforming both the S&P Mid Cap 400
Index return of 15.26% and the Lipper Mid-Cap Core Average return of 14.78%.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets moved higher during the period, supported by strength in
corporate earnings, a solidifying global economy, and benign inflation. Mid cap
stocks led large caps, but modestly trailed small caps, when measured using the
S&P MidCap 400, S&P 500, and Russell 2000 Indices. Within the S&P MidCap 400
Index, all sectors registered positive returns, with Industrials and Information
Technology performing the best, and Telecommunications and Consumer Staples
lagging.
The Fund benefited from strong stock selection in the Consumer Discretionary,
Financial, and Health Care sectors, as well as from an underweight position in
the relatively weak performing Utilities sector. In the Financials sector,
BlackRock, an investment firm specializing in fixed income, rose sharply when it
agreed to merge with Merrill Lynch's investment management group. Stock
selection in the Technology sector was the primary detractor from returns.
Driven by expected strong demand, uranium producer Cameco was the greatest
contributor to returns, both on an absolute and relative basis. In spite of
Technology's overall drag on returns, two of the strongest absolute performers
were from this sector. Semiconductor holding NVIDIA moved higher on expectations
of market share gains and operating margin expansion. We look for wireless
processor growth and an increased presence in applications for media players and
handsets to support additional price appreciation. Jabil Circuit, a leading
maker of circuit boards and other electronic components, also posted a strong 6
month return.
Sirius Satellite was the weakest performer on both an absolute and relative
basis. It fell due to investor concern regarding rising marketing expenditures
to acquire new subscribers in the satellite radio industry. Supervalu, which
operates grocery, food distribution, and related logistics services in the U.S.,
was also an absolute
53
- --------------------------------------------------------------------------------
detractor. The stock was added to the Fund during the period because its recent
acquisition of select stores from Albertson's will transform the company into
the country's third largest food retailer, and we expect this transaction to
enhance shareholder value through earnings accretion and an improved business
mix.
WHAT IS THE OUTLOOK?
Our investment approach is very much a "bottom-up" process: we pick one stock at
a time based upon the attractiveness of each company's valuation and
fundamentals. As a result of bottom-up stock picking, as of the end of the
period, the sectors in which the Fund was most overweight were Consumer
Discretionary and Industrials. The Fund was significantly underweight in the
Utilities sector.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 7.8%
- -------------------------------------------------------------------
Capital Goods 1.2
- -------------------------------------------------------------------
Consumer Cyclical 16.7
- -------------------------------------------------------------------
Energy 6.8
- -------------------------------------------------------------------
Finance 15.4
- -------------------------------------------------------------------
Health Care 9.5
- -------------------------------------------------------------------
Services 20.3
- -------------------------------------------------------------------
Technology 16.5
- -------------------------------------------------------------------
Transportation 1.9
- -------------------------------------------------------------------
Utilities 1.7
- -------------------------------------------------------------------
Short-Term Investments 12.5
- -------------------------------------------------------------------
Other Assets & Liabilities -10.3
- -------------------------------------------------------------------
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 - 4/30/06
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
9374 10337
9091 10248
7815 9111
8014 9306
8685 10022
9384 10593
9422 10690
9592 10823
10121 11493
4/02 10121 11690
9941 11498
9412 11092
8429 9809
8420 9862
7522 9055
7881 9184
8524 9854
8118 9546
7938 9258
7758 9030
7711 9091
4/03 8429 9915
9214 10832
9318 11026
9630 11505
10074 11968
10026 11883
10697 12791
11075 13313
11567 13836
11746 14284
11992 14574
11964 14690
4/04 11538 13921
11756 14201
12228 14765
11699 14171
11501 14349
11916 14802
12181 15070
12865 16302
13365 16821
12865 16280
13405 16686
13232 16464
4/05 12569 15848
13232 16727
13538 17341
14140 18269
14109 17937
14038 17957
13558 17427
14389 18141
14649 18123
15597 19315
15564 19341
15789 20019
4/06 16151 20098
</Table>
<Table>
--- MIDCAP VALUE FUND --- RUSSELL 2500 VALUE INDEX
$9,450 starting value $10,000 starting value
$16,151 ending value $20,098 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
MidCap Value A# 4/30/2001 28.50% 11.31% 11.31%
- --------------------------------------------------------------
MidCap Value A## 4/30/2001 21.43% 10.06% 10.06%
- --------------------------------------------------------------
MidCap Value B# 4/30/2001 27.47% 10.52% 10.52%
- --------------------------------------------------------------
MidCap Value B## 4/30/2001 22.47% 10.25% 10.25%
- --------------------------------------------------------------
MidCap Value C# 4/30/2001 27.56% 10.53% 10.53%
- --------------------------------------------------------------
MidCap Value C## 4/30/2001 26.56% 10.53% 10.53%
- --------------------------------------------------------------
MidCap Value Y# 4/30/2001 29.07% 11.83% 11.83%
- --------------------------------------------------------------
</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 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 six-month period ending April 30, 2006, The Hartford MidCap Value Fund
Class A, before sales charge, returned 19.13% outperforming both the Russell
2500 Value Index return of 15.33% and the Lipper Mid Cap Value peer group
average return of 14.08%.
WHY DID THE FUND PERFORM THIS WAY?
During the period, U.S. equities posted strong positive returns. Small and mid
cap stocks outperformed larger cap stocks during the period, as measured by the
Russell 2000, S&P 400 Midcap and S&P 500 indices, respectively. Value stocks
continued to outperform growth during the period, as measured by the Russell
1000 Growth and Russell 1000 Value indices, driven by the relative strength of
sectors like Materials, Energy, and Industrials. Conversely, "safe" stocks such
as Utilities and Consumer Staples lagged.
The Fund's outperformance relative to the benchmark was due primarily to strong
stock selection within Information Technology, Consumer Discretionary,
Materials, Industrials and Health Care. Our patience with our overweight
position in Information Technology has finally paid off as the industry's quick
response to pare inventories ensured a relatively short correction. The top
three contributors to relative performance were SeaGate Technology (Information
Technology), Trinity Industries (Industrials) and Office Depot (Consumer
Discretionary). Disk drive maker SeaGate's shares benefited from healthy
fundamentals and investor anticipation of the benefits of their acquisition of a
competitor. Trinity's shares benefited from increasing profits in its North
American rail car, wind tower and barge divisions, as well as strong
fundamentals in construction, while Office Depot's stock price rose sharply on
continuing improvement in their US retail operations. We took profits and
reduced our positions significantly in these stocks during the period.
From a sector contribution perspective, stock selection in Consumer Staples was
the largest relative detractor of performance. Tyson Foods and Smithfield Foods
were both hurt by Avian Flu worries, which have caused a much more pronounced
reduction in chicken consumption in Europe than we would have imagined. The
effects have rippled through the protein markets, causing an oversupply of
chicken in the US, which has hurt pricing power for beef and pork as well.
The three largest detractors of relative performance were Utilities stock PPL,
whose shares struggled from a relatively mild winter and the headwinds from
higher interest rates on a generally overvalued group; yellow pages publisher
and online local search company R.H. Donnelley (Consumer Discretionary) whose
shares declined due to profit taking following the closing of their
55
- --------------------------------------------------------------------------------
acquisition of Dex Media and on conservative management's guidance for the
remainder of 2006; and Everest Re (Financials), whose shares struggled from the
earnings shortfalls from the $50 million catastrophic losses of the 2005
hurricane season. We trimmed PPL and added to R.H. Donnelley during the end of
the period.
WHAT IS THE OUTLOOK?
The U.S. economy advanced at a healthy pace during the period but we do not
believe this pace will be sustainable as the effects of a slowdown in housing
and credit cycle tightening are felt. Home equity extraction fueled up to
one-third of U.S. consumption spending during 2005, and the opportunity for
homeowners to further tap this resource should be significantly diminished
looking ahead. Although we expect some deceleration in the manufacturing sector
over the next several quarters, capacity utilization has risen to its highest
level since September 2000. This should help support healthy spending for
equipment, while our infrastructure needs and a commercial construction upturn
should support continued robust non-residential construction activity.
During the period, we decreased our exposure to Financials and Consumer
Discretionary, while increasing our exposure to Information Technology,
Industrials, and Health Care, where we see better opportunities for growth. As
of the end of the period, Industrials, Information Technology, Consumer
Discretionary and Health Care were our largest overweight sectors. Note that our
holdings in the Consumer Discretionary sector include certain specialty
retailers that are not overly dependent on the consumer, and also casual dining
restaurants, which offer significant value to the consumer on their menus, thus
have some appeal in more challenging times. Our largest underweight sectors
remain Financials and Utilities.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 13.0%
- -------------------------------------------------------------------
Capital Goods 10.2
- -------------------------------------------------------------------
Consumer Cyclical 12.1
- -------------------------------------------------------------------
Consumer Staples 3.3
- -------------------------------------------------------------------
Energy 3.2
- -------------------------------------------------------------------
Finance 16.8
- -------------------------------------------------------------------
Health Care 7.5
- -------------------------------------------------------------------
Services 7.9
- -------------------------------------------------------------------
Technology 18.0
- -------------------------------------------------------------------
Transportation 2.6
- -------------------------------------------------------------------
Utilities 4.1
- -------------------------------------------------------------------
Short-Term Investments 7.5
- -------------------------------------------------------------------
Other Assets & Liabilities -6.2
- -------------------------------------------------------------------
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 - 4/30/06
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 9334 9833 9921
11/05 9383 10205 9965
12/05 9441 10208 10059
1/06 9508 10479 10060
2/06 9493 10507 10093
3/06 9482 10638 9994
4/06 9551 10780 9976
</Table>
<Table>
--- RETIREMENT INCOME FUND -- LEHMAN BROTHERS U.S. AGGREGATE --- S&P 500 INDEX
$9,450 starting value BOND INDEX $10,000 starting value
$9,551 ending value $10,000 starting value $10,780 ending value
$9,976 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ---------------------------------------------------
Retirement Income A# 9/30/2005 1.07%
- ---------------------------------------------------
Retirement Income A## 9/30/2005 -4.49%
- ---------------------------------------------------
Retirement Income B# 9/30/2005 0.70%
- ---------------------------------------------------
Retirement Income B## 9/30/2005 -4.04%
- ---------------------------------------------------
Retirement Income C# 9/30/2005 0.70%
- ---------------------------------------------------
Retirement Income C## 9/30/2005 -0.25%
- ---------------------------------------------------
Retirement Income Y# 9/30/2005 1.33%
- ---------------------------------------------------
</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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM:
For the six-month period ended April 30, 2006, The Hartford Retirement Income
Fund Class A had a total return, before sales charges, of 2.32% versus the
returns of 4.19% for the Lipper Mixed-Asset Target Allocation Conservative Funds
Average and 0.56% for the Lehman Brothers U.S. Aggregate Bond Index and 9.64%
for the S&P 500 Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve in which investors did not receive substantially higher
rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Additionally, many
commodities reached historical highs, and the price of oil again approached
record levels. Therefore, in response to the outlook for a strong economy and
potentially higher inflation, long-term interest rates rose later in the first
quarter of 2006. As a result, these rising rates caused most investment grade
fixed-rate bonds to decline in value. However, the credit-sensitive sectors
generally outperformed Treasury bonds, reflecting expectations for continued
economic growth and growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks, as the equity markets responded very favorably to the
optimistic economic outlook, outperforming bonds year-to-date and for the six
month period. The large cap S&P 500 Index returned 9.64% for the six month
period, with the cyclical (economically sensitive) Materials and Industrial
sectors being among the strongest performing groups. As would be expected after
the media coverage of record profits for the Oil companies and historically high
gasoline prices, the Energy sector was also one of the top sectors. In contrast,
the typically defensive Utilities and Consumer Staples sectors were among the
weakest performing groups of the period, confirming that stock investors
57
- --------------------------------------------------------------------------------
had an increasing appetite for risk as the economic outlook improved. As would
be expected in this increasingly optimistic environment, small caps, as measured
by the Russell 2000 Index, outpaced their large cap counterparts, gaining 18.91%
for the period. As the overseas economies improved, their markets also showed
strength. Investors were particularly confident in the outlook for the overseas
economies as foreign equities outpaced domestic stocks. The MSCI EAFE Index (a
common proxy for foreign stock markets) returned 22.89% for the period.
As interest rates rose during the period in response to the strengthening
economic outlook, the Fund's duration was targeted to be slightly less than the
Lehman Aggregate based upon both the risk preferences of the Fund and in
anticipation of rising rates. For the six-month period, this short duration
positioning enhanced overall performance. Within the major sectors of the Lehman
Brothers U.S. Aggregate Index (a proxy for U.S. investment grade bonds), ABS
securities were the top performer, while U.S. Treasuries were the weakest. The
Fund is structured around six fixed income indices. For the period, the best
performer was the Lehman Brothers High Yield Index (up 4.95%), followed by the
Credit Suisse Leveraged Loan Index (up 3.46%), Cash (up 2.04%), the Lehman
Brothers 1-3 Year Government Index (up 1.47%), the Lehman Brothers U.S.
Aggregate Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%).
Consequently, the Fund benefited from its diversification since 4 of the 5 other
indices outperformed the Lehman Brothers U.S. Aggregate Index.
The equity component of the Fund is structured around five equity indices.
Similar to the manner in which the "riskier" bond sectors were in favor, this
period investors favored the traditionally more volatile small and mid
capitalization equity styles to domestic large cap equities. For the quarter,
the MSCI EAFE (up 22.89%) was the top performing index, followed by the small
cap Russell 2000 (up 18.91%), the Russell Midcap (up 14.35%), the Russell 1000
Value (up 12.87%) and the Russell E1000 Growth (up 7.06%). Accordingly, the Fund
benefited from its allocation to international, mid cap, and small cap equities
as each of these asset classes outperformed domestic large caps. The Funds
higher allocation to the traditionally more risky asset classes was the greatest
contributor to the Fund's relative performance. Although the Fund's allocations
were a positive factor, selection at the individual fund level and within the
underlying funds appeared to detract from performance. Although the Fund's
allocations were a positive factor, the timing of cash flows detracted from
performance.
WHAT IS THE OUTLOOK?
So far this year, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
somewhat defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. In addition to large caps, by design the
equity component targets allocations to mid cap, small cap and international
stocks. When these "riskier" stocks lead the market, we expect our portfolio
will lead the large cap index. 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. Whenever possible, we will use cash
flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 4.5%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 7.3
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 7.3
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 4.6
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 13.7
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 1.9
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 4.6
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford Money Market Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 17.3
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 19.0
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 1.7
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 1.9
- -------------------------------------------------------------------
Other Assets & Liabilities 9.0
- -------------------------------------------------------------------
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 - 4/30/06
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
9168 9732
2/05 9272 9979
9149 9833
4/05 8717 9444
9168 9985
6/05 9290 10170
9779 10764
8/05 9732 10698
9826 10837
10/05 9525 10518
10081 11088
12/05 10110 11210
10660 11881
2/06 10650 11735
11001 12063
4/06 11039 12114
</Table>
<Table>
--- SELECT MIDCAP GROWTH FUND --- RUSSELL MIDCAP GROWTH INDEX
$9,450 starting value $10,000 starting value
$11,039 ending value $12,114 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Select MidCap Gro A# 1/1/2005 26.64% 12.44%
- ----------------------------------------------------------
Select MidCap Gro A## 1/1/2005 19.67% 7.74%
- ----------------------------------------------------------
Select MidCap Gro B# 1/1/2005 25.96% 11.71%
- ----------------------------------------------------------
Select MidCap Gro B## 1/1/2005 20.96% 8.79%
- ----------------------------------------------------------
Select MidCap Gro C# 1/1/2005 25.96% 11.71%
- ----------------------------------------------------------
Select MidCap Gro C## 1/1/2005 24.96% 11.71%
- ----------------------------------------------------------
Select MidCap Gro Y# 1/1/2005 27.04% 12.80%
- ----------------------------------------------------------
</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 MANAGERS
<Table>
CHARTWELL INVESTMENT PARTNERS, L.P. GOLDMAN SACHS ASSET MANAGEMENT, L.P. NORTHERN CAPITAL MANAGEMENT, LLC
David G. Shell,
Edward N. Antoian, Managing Director and Chief Investment Daniel T. Murphy,
Senior Portfolio Manager Officer President and Chief Investment Officer
Steven M. Barry, Brian A. Hellmer,
Mark J. Cunneen, Managing Director and Chief Investment Senior Vice President and Director of
Senior Portfolio Manager Officer Research
Gregory H. Ekizian,
Managing Director and Chief Investment
Officer
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Select MidCap Growth Class A, before sales charge, returned 15.89%
for the six-month period ended April 30, 2006. The Fund outperformed the 15.18%
return of the Russell Mid-Cap Growth Index and slightly underperformed the
16.32% return of the Lipper Mid Cap Growth peer group average.
WHY DID THE FUND PERFORM THIS WAY?
For the period October 31, 2005 to April 30, 2006, small cap stocks outperformed
both mid and large caps as measured by the Russell benchmark categories and
growth stocks outperformed value stocks in the mid caps. The best performing
sectors within the index were Telecommunications Services, Materials and
Industrials. Utilities, Consumer Staples and Healthcare, while still posting
positive returns, were the laggards.
Stock selection remained the primary driver of our performance during the
period. Overall, Technology was our largest contributor to relative performance.
In particular, MEMC Electronic Materials (a maker of semiconductor wafers),
Akamai Technologies (a leader in distributed computing services, Amphenol (a
maker of cable and connectors used in computers and networking equipment), and
Polycom were top performers as a result of posting strong quarterly financial
results.
In the Energy sector, a top contributor was Weatherford International, a
provider of equipment and services used for the drilling, completion, and
production of oil and natural gas wells. The stock rose to a new high for the
year in April after it posted a larger-than-expected profit for the first
quarter of 2006. Another contributor in Energy was McDermott International.
During this period these companies benefited as high oil prices fueled
continuing demand from exploration and production companies.
A portion of the positive stock selection was offset by stock specific
shortfalls in several areas. Within Media Services, XM Satellite
59
- --------------------------------------------------------------------------------
Radio Holdings, Inc. was down nearly 30% during the period, despite higher
revenue and a sharp increase in subscribers. Its shares fell as investors were
concerned about increased marketing and subscriber acquisition costs. Other
stock detractors included Cogent and CNET Networks. Shares of Cogent, a provider
of automated fingerprint identification systems, were weak during the period.
The company's decreased visibility surrounding some large orders in 2006
resulted in several analyst downgrades. Shares of CNET fell after the company
reported a narrower-than-expected first-quarter loss, a soft revenue number and
weak guidance.
WHAT IS THE OUTLOOK?
We continue to identify pockets of growth for mid-size companies with product
sets and capabilities to exploit changing patterns of demand. This underscores
our optimism about potential long-term investment returns from small and mid-cap
growth companies. Our outlook for the mid-cap growth segment is quite positive
as we believe this segment should outperform the overall market as economic
growth slows and the traditional growth companies are able to report higher
earnings growth than cyclicals. While mid-cap growth stocks have outperformed
value recently, they have lagged value stocks considerably in the last several
years, and we believe that the opportunity for reversion to a more normalized
return environment strongly favors our investment style.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 4.8%
- -------------------------------------------------------------------
Capital Goods 6.7
- -------------------------------------------------------------------
Consumer Cyclical 10.7
- -------------------------------------------------------------------
Consumer Staples 0.8
- -------------------------------------------------------------------
Energy 6.1
- -------------------------------------------------------------------
Finance 8.4
- -------------------------------------------------------------------
Health Care 13.1
- -------------------------------------------------------------------
Services 14.8
- -------------------------------------------------------------------
Technology 26.7
- -------------------------------------------------------------------
Transportation 2.8
- -------------------------------------------------------------------
Utilities 0.1
- -------------------------------------------------------------------
Short-Term Investments 4.4
- -------------------------------------------------------------------
Other Assets & Liabilities 0.6
- -------------------------------------------------------------------
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 - 4/30/06
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 10074 10754
7/05 10452 11266
8/05 10423 11178
9/05 10518 11330
10/05 10197 10983
11/05 10607 11370
12/05 10673 11481
1/06 11050 11979
2/06 11098 12092
3/06 11379 12356
4/06 11543 12475
</Table>
<Table>
--- SELECT MIDCAP VALUE FUND --- RUSSELL MIDCAP VALUE INDEX
$9,450 starting value $10,000 starting value
$11,543 ending value $12,475 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------------
Select MidCap Val A# 4/29/2005 22.15% 22.08%
- ----------------------------------------------------------
Select MidCap Val A## 4/29/2005 15.43% 15.39%
- ----------------------------------------------------------
Select MidCap Val B# 4/29/2005 21.25% 21.19%
- ----------------------------------------------------------
Select MidCap Val B## 4/29/2005 16.25% 17.20%
- ----------------------------------------------------------
Select MidCap Val C# 4/29/2005 21.35% 21.29%
- ----------------------------------------------------------
Select MidCap Val C## 4/29/2005 20.35% 21.29%
- ----------------------------------------------------------
Select MidCap Val Y# 4/29/2005 22.61% 22.54%
- ----------------------------------------------------------
</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, Patrick Rau,
Managing Director President, Chief Investment Officer and Director and Principal, Equity Portfolio
Equity Portfolio Manager Manager
Scott C. Satterwhite,
Managing Director Robert Rewey III, CFA, Timothy Beyer,
Vice President, Equity Portfolio Manager and Director and Principal, Equity Portfolio
Senior Research Analyst Manager
</Table>
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Select MidCap Value Class A, before sales charge, returned 13.20%
for the six-month period ended April 30, 2006. The Fund underperformed slightly
the 13.58% return of the Russell Mid-Cap Value Index and the 14.96% return of
the Lipper Mid Cap Value peer group average.
WHY DID THE FUND PERFORM THIS WAY?
For the period October 31, 2005 to April 30, 2006, small cap stocks outperformed
both mid and large caps as measured by the Russell benchmark categories and
growth stocks outperformed value stocks in the mid caps. The best performing
sectors within the index were Materials, Telecommunications Services, and
Industrials. Utilities and Healthcare, while still posting positive returns,
were the laggards.
Stock selection remained the primary driver of our performance during the
period. Overall, Finance was our largest contributor to relative performance. In
particular, Leucadia National, AON Corp, Nuveen Investments and Assurant were
strong performers in this area. Leucadia (diversified holding company) posted
good returns as a result of its sale of its largest subsidiary, Wiltel, during
the quarter. AON (an insurance brokerage), Assurant (a provider of specialized
insurance products) and Nuveen Investments (investment management firm), posted
strong quarterly financial results.
Other top contributors to performance for the period included NCR (business
technology), CR Bard (medical products) and CSX Corp (transportation services).
NCR shares rose, as more investors began to appreciate hidden value of its data
warehousing division, which was the focus of a February investor meeting. CR
Bard
61
- --------------------------------------------------------------------------------
reported strong first quarter results, beating expectations, due to increased
revenues from its oncology and vascular divisions. A combination of pricing
leverage, which drove higher revenues, and cost controls led CSX to post higher
than expected earnings. Our largest fund holding, Leggett & Platt (consumer
cyclical) also was a top performer during the period.
Fund detractors include Lear (supplier of automotive interior systems), CMS
Energy (energy holding company), Ball Corporation (manufacturing packaging
company) and Public Service Enterprise Group (utility holding company). General
Motor's financial difficulties, weak near-term results, and liquidity fears sent
Lear sharply lower during the quarter. We sold this position in April, 2006. An
unseasonably warm winter caused CMS, a Michigan utility company, to slightly
lower its 2006 earnings expectations. However, the long term earnings power of
the company is unchanged and we took advantage of the price weakness to add to
our position. Shares of Ball Corp. sold off in April after the company posted
weaker than expected earnings in the first quarter. Public Service also reported
lower than expected earnings as a result of mild weather and stable gas prices.
Despite this weather driven impact, we expect the shares to benefit from its
planned merger with Exelon in the third quarter.
WHAT IS THE OUTLOOK?
The market appears to be in a risk seeking mode as many low quality companies
are now popular and valuations are up. This has resulted in high quality stocks
selling at historically low price earnings multiples. We are taking advantage of
this scenario by positioning our mid cap portfolio with higher quality companies
that are sure to benefit our investors in the future.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 6.1%
- -------------------------------------------------------------------
Capital Goods 5.0
- -------------------------------------------------------------------
Consumer Cyclical 13.5
- -------------------------------------------------------------------
Consumer Staples 2.6
- -------------------------------------------------------------------
Energy 6.5
- -------------------------------------------------------------------
Finance 25.8
- -------------------------------------------------------------------
Health Care 4.2
- -------------------------------------------------------------------
Services 13.9
- -------------------------------------------------------------------
Technology 9.5
- -------------------------------------------------------------------
Transportation 2.2
- -------------------------------------------------------------------
Utilities 5.0
- -------------------------------------------------------------------
Short-Term Investments 3.5
- -------------------------------------------------------------------
Other Assets & Liabilities 2.2
- -------------------------------------------------------------------
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 - 4/30/06
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
10/05 9053 9630
11/05 9488 10176
12/05 9393 10161
1/06 10319 11141
2/06 10055 11081
3/06 10575 11620
4/06 10594 11586
</Table>
<Table>
--- SELECT SMALLCAP GROWTH FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$10,594 ending value $11,586 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ---------------------------------------------------
Select SmallCap Gro A# 9/30/2005 12.10%
- ---------------------------------------------------
Select SmallCap Gro A## 9/30/2005 5.93%
- ---------------------------------------------------
Select SmallCap Gro B# 9/30/2005 11.70%
- ---------------------------------------------------
Select SmallCap Gro B## 9/30/2005 6.70%
- ---------------------------------------------------
Select SmallCap Gro C# 9/30/2005 11.70%
- ---------------------------------------------------
Select SmallCap Gro C## 9/30/2005 10.70%
- ---------------------------------------------------
Select SmallCap Gro Y# 9/30/2005 12.40%
- ---------------------------------------------------
</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 Class A, before sales charge, returned
17.02% for the six-month period ended April 30, 2006. The Fund underperformed
the 20.31% return of the Russell 2000 Growth Index and the 19.51% return of the
Lipper Small Cap Growth peer group average.
WHY DID THE FUND PERFORM THIS WAY?
For the period October 31, 2005 to April 30, 2006, small cap stocks outperformed
both mid and large caps as measured by the Russell benchmark categories and
growth stocks outperformed value stocks in the mid caps. The best performing
sectors within the index were Materials, Industrials and Information Technology.
Healthcare, Financials and Consumer Discretionary, while still posting positive
returns, were the laggards.
Stock selection remained the primary driver of our performance during the
period. Overall, Information Technology was our largest contributor to relative
performance. In particular, Equinix, Atheros Communications, Rackable Systems
and Alliance Data Systems were strong contributors to performance. Equinix, one
of our largest holdings, provides network neutral colocation, interconnection
and managed services to enterprises, content companies, systems integrators and
the world's largest network providers. The company reported a characteristically
strong fourth quarter and maintained their overall guidance for 2006. We believe
Equinix has strong multi-year growth prospects, a unique franchise with an
attractive business model, and should benefit from the ongoing explosion of
Internet traffic from a wide variety of sources for the foreseeable future.
Shares of Atheros Communications, a developer of semiconductor systems for
wireless communications products, rose approximately 192% over the reporting
period as the company's momentum across all business lines continued. We believe
Atheros is poised to gain market share, as their early to market products prove
successful where their competitors' products fail.
Other strong performers include Focus Media, an advertising network in China,
and Aspreva Pharmaceutical, a pharmaceutical company. Focus Media shares rose
after several acquisitions were completed in early 2006 while Aspreva reported
strong 4th quarter earnings. Metals and mining holdings Century Aluminum Co. and
63
- --------------------------------------------------------------------------------
Meridian Gold Inc. also performed well. They continued to benefit from sustained
global supply/demand imbalances.
Among the largest detractors from returns were media position Radio One Inc.,
biotechnology position CV Therapeutics and re-insurance holdings Montpelier Re
Holdings Ltd. Radio One shares moved in sympathy with those of other media
companies as disappointing revenue trends versus the market's expectations
continued to plague this industry. We continue to hold the stock, believing
ratings outperformance should eventually resume, and, in the near term, are
optimistic that asset sales should drive the stock higher. CV Therapeutics, an
emerging biotech company with focus on cardiovascular drugs, hurt performance
mainly due to its poor March results, which saw widened net loss in the
company's fourth-quarter. Shares of Montpelier moved lower due to investor
concerns over the potential for even further losses from 2005, worries about the
2006 hurricane season, and, most importantly, due to headlines of the financial
duress of industry peers Quanta Capital Holdings and PXRE Group. Other
detractors include SFBC International (a global drug development services
company) and Blue Coat Systems (an internet security company). SFBC shares
tumbled after questions were raised about its drug testing practices while Blue
Coat fell after lowering its 2006 earnings guidance. We have sold out of our
position in Blue Coat.
WHAT IS THE OUTLOOK?
Our outlook for 2006 has not changed materially from last year. We anticipate
modest but continued economic growth with some acceleration in the core
inflation rate. Although the Fed may be approaching the end of its current
tightening cycle, short-term rates are likely to continue to rise throughout the
first half of this year. On a bottoms-up basis, the appreciation witnessed
during the past six months reflect strong corporate earnings. We would expect
the stock market to be choppy in the near term until the Fed's interest rate
policies relative to possible inflation become more certain.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 5.3%
- -------------------------------------------------------------------
Capital Goods 6.6
- -------------------------------------------------------------------
Consumer Cyclical 9.5
- -------------------------------------------------------------------
Consumer Staples 0.3
- -------------------------------------------------------------------
Energy 7.4
- -------------------------------------------------------------------
Finance 8.6
- -------------------------------------------------------------------
Health Care 14.5
- -------------------------------------------------------------------
Services 15.1
- -------------------------------------------------------------------
Technology 22.2
- -------------------------------------------------------------------
Transportation 2.0
- -------------------------------------------------------------------
Utilities 0.6
- -------------------------------------------------------------------
Short-Term Investments 4.5
- -------------------------------------------------------------------
Other Assets & Liabilities 3.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
64
The Hartford Short Duration Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE A HIGH LEVEL OF INCOME.
PERFORMANCE OVERVIEW(2) 10/31/02 - 4/30/06
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 10150
9945 10244
9963 10262
4/03 10023 10312
10130 10430
10143 10442
10008 10296
10013 10300
10186 10474
10134 10406
10131 10406
10209 10485
10254 10527
10319 10609
10365 10667
4/04 10242 10494
10220 10467
10236 10481
10283 10541
10356 10662
10346 10662
10377 10713
10329 10638
10357 10679
10358 10676
10350 10635
10343 10609
4/05 10404 10694
10424 10756
10448 10787
10440 10730
10483 10824
10490 10770
10472 10744
10511 10784
10542 10832
10561 10846
10578 10851
10587 10846
4/06 10629 10876
</Table>
<Table>
--- SHORT DURATION FUND --- LEHMAN BROTHERS 1-5 YEAR U.S.
$9,700 starting value GOVERNMENT/CREDIT INDEX
$10,629 ending value $10,000 starting value
$10,876 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 Hartford Government/Credit Index includes securities in the 1-5 year
maturity range in the Government and Credit Indices.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------------
Short Duration A# 10/31/2002 2.16% 2.65%
- --------------------------------------------------------
Short Duration A## 10/31/2002 -0.90% 1.76%
- --------------------------------------------------------
Short Duration B# 10/31/2002 1.40% 1.92%
- --------------------------------------------------------
Short Duration B## 10/31/2002 -3.54% 1.11%
- --------------------------------------------------------
Short Duration C# 10/31/2002 1.40% 1.92%
- --------------------------------------------------------
Short Duration C## 10/31/2002 0.41% 1.92%
- --------------------------------------------------------
Short Duration Y# 11/28/2003 2.31% 2.20%
- --------------------------------------------------------
</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
ROBERT CRUSHA, CFA
Vice President
BRIAN DIRGINS, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Short Duration Fund
Class A had a total return, before sales charges, of 1.50% versus the return of
1.47% for the Lipper Short Investment Grade Debt Funds Average and 1.23% for the
Lehman Brothers 1-5 Years Government/Credit Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve (the Fed) raised short-term interest rates at
each of its meetings in response to its concerns that monetary policy had been
too accommodative and that strong growth in the U.S. and global economies would
lead to higher inflation. Despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve in which investors did not receive substantially higher
rates in return for longer maturities. Going into the first quarter of 2006, the
curve actually became slightly inverted (short-term yields higher than long-term
yields) as the Fed continued to raise the Fed Funds rate. So far this year,
investor confidence about prospects for the U.S. economy continues to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Furthermore, many
commodities reached historical highs and the price of oil again approached
record levels. In response to the outlook for a strong economy and potentially
higher inflation, long-term interest rates rose in March and April. As a result,
these rising rates caused most fixed-rate bonds to decline in value. However,
the credit-sensitive sectors generally outperformed Treasuries of similar
maturities, reflecting expectations for continued economic growth and growing
capacity to service debt on a timely basis. Accordingly, investors had a greater
tolerance for risk and sought higher yields in the spread sectors, leading
Asset-Backed Securities (ABS), Mortgage-Backed Securities (MBS) and Commercial
Mortgage-Backed Securities (CMBS) to outperform Treasuries of similar duration.
One of the largest impacts upon the Fund's performance stemmed from its
sensitivity to changes in interest rates. Generally, fixed rate bonds decline in
value as interest rates rise, because the lower yielding bonds become less
attractive when compared to bonds that pay higher rates. Purchasers would rather
purchase the new
65
- --------------------------------------------------------------------------------
higher yielding bonds, so sellers of the existing, lower yielding bonds must
discount them to compensate for their lower interest rates. Although the rising
rates detracted from the Fund's return on an absolute basis, the Fund was
appropriately positioned with a duration that was less than half that of the
benchmark. As such, the Fund's combined duration management and yield curve
positioning were the most significant contributors to the Fund's outperformance
relative to the Index. As spread sectors outperformed U.S. Treasuries in the six
month period, investments in ABS, CMBS and Corporate issues continued to
contribute significant yield to the portfolio. Since the Fund was overweight in
out-of-index sectors, it had underweighted U.S. Treasuries. This allocation away
from Treasuries was also beneficial as Treasuries trailed the credit sectors.
The Fund's lower allocation to Agency issues appeared to be a cost to
performance. However, that expense was more than offset by the beneficial
allocations to the ABS, MBS and especially CMBS sectors. The Fund also
tactically purchased Treasury Inflation-Protected Securities (TIPS) during the
first quarter of 2006 to take advantage of the attractive seasonal accrual
period (when inflation adjustments are typically advantageous), but sold the
position at the end of the quarter as that favorable period ended. While the
exposure to TIPS showed as a detractor to relative performance, overall, the
Fund's individual security selection was a positive contributor to performance.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates since June 2004. Statements by Fed officials indicate
that there is a general consensus that policy is at or very near neutral. Policy
going forward is highly "data dependent" which will likely lead to some increase
in market volatility as market participants try to anticipate the Fed's next
move. Given recent economic data as of this discussion on April 30, 2006, the
market expectation is almost certain that the Fed will raise rates again at its
meeting in May, and could also raise rates during the summer. Subsequently, the
Fed did, indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. While we
will be closely monitoring economic and market data for any changes in
conditions, we concur that interest rates will continue to rise. As such, the
duration currently remains low and our cash level remains higher than normal.
This cash can also be used to invest at potentially higher yields in the future.
Since we have concerns regarding potential for event risks, such as Leveraged
Buy-Outs (LBO's), we are continuing to lower our corporate exposure in favor of
the CMBS sector.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 41.7%
- -------------------------------------------------------------------
AA 4.1
- -------------------------------------------------------------------
A 24.6
- -------------------------------------------------------------------
BBB 29.5
- -------------------------------------------------------------------
NR 0.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 2.3%
- -------------------------------------------------------------------
Capital Goods 0.8
- -------------------------------------------------------------------
Consumer Cyclical 2.2
- -------------------------------------------------------------------
Consumer Staples 0.7
- -------------------------------------------------------------------
Energy 1.6
- -------------------------------------------------------------------
Finance 63.3
- -------------------------------------------------------------------
Health Care 0.2
- -------------------------------------------------------------------
Services 4.3
- -------------------------------------------------------------------
Technology 5.0
- -------------------------------------------------------------------
Transportation 1.4
- -------------------------------------------------------------------
U.S. Government Agencies 3.8
- -------------------------------------------------------------------
U.S. Government Securities 10.8
- -------------------------------------------------------------------
Utilities 0.8
- -------------------------------------------------------------------
Short-Term Investments 4.5
- -------------------------------------------------------------------
Other Assets & Liabilities -1.7
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
66
The Hartford Small Company Fund
(subadvised by: Wellington Management Company, LLP
Hartford Investment Management Company**)
INVESTMENT OBJECTIVE -- SEEKS GROWTH OF CAPITAL.
PERFORMANCE OVERVIEW(3) 7/22/96 - 4/30/06
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 9898
10263 10631
10915 11178
10612 10696
10839 10993
10783 11208
10773 11488
10601 10794
10056 10032
4/97 10117 9916
11207 11406
11865 11793
12440 12397
12733 12769
13824 13788
13258 12960
13026 12651
12862 12658
12545 12490
13793 13592
14343 14162
4/98 14533 14249
13824 13214
14026 13349
13535 12234
10226 9410
11112 10364
11998 10905
12809 11751
14208 12814
14827 13390
13364 12166
14464 12599
4/99 15649 13711
15980 13733
17250 14457
17229 14009
16983 13486
17325 13746
17922 14098
19963 15588
23537 18336
22847 18165
26858 22392
26456 20038
4/00 24065 18015
21376 16437
24391 18561
22433 16970
24211 18755
23154 17823
21724 16377
19020 13403
20449 14223
19542 15375
17380 13267
15877 12061
4/01 18038 13537
17802 13851
18081 14229
17099 13015
16378 12202
13793 10233
14912 11218
16341 12154
17211 12911
16937 12451
16142 11646
17323 12658
4/02 16888 12384
16241 11660
15111 10671
12663 9031
12414 9027
11905 8375
12340 8798
13098 9671
11954 9004
11631 8759
11395 8526
11793 8655
4/03 13048 9474
14502 10541
14962 10744
16030 11557
16825 12177
16204 11869
17745 12894
18242 13315
18578 13374
19323 14077
19348 14055
19721 14121
4/04 18702 13412
19037 13679
19460 14134
17857 12865
17086 12588
18416 13284
18752 13607
19820 14757
20690 15288
19559 14599
20205 14799
19932 14244
4/05 19075 13338
20367 14278
21510 14740
22815 15770
22890 15548
23523 15671
22927 15092
24331 15946
24940 15923
27189 17459
26990 17366
28171 18210
4/06 28717 18157
</Table>
<Table>
--- SMALL COMPANY FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$28,717 ending value $18,157 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- ----------------------------------------------------------
Small Co A# 7/22/1996 50.55% 9.74% 12.04%
- ----------------------------------------------------------
Small Co A## 7/22/1996 42.27% 8.51% 11.39%
- ----------------------------------------------------------
Small Co B# 7/22/1996 49.58% 8.97% NA*
- ----------------------------------------------------------
Small Co B## 7/22/1996 44.58% 8.69% NA*
- ----------------------------------------------------------
Small Co C# 7/22/1996 49.44% 8.97% 11.28%
- ----------------------------------------------------------
Small Co C## 7/22/1996 48.44% 8.97% 11.28%
- ----------------------------------------------------------
Small Co Y# 7/22/1996 51.28% 10.26% 12.57%
- ----------------------------------------------------------
</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.
** Effective June 12, 2006, Hartford Investment Management
Company was added as a subadviser to the Fund. As of the same
date, the Fund's Class A, B and C shares were re-opened to
new investments.
(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
WELLINGTON MANAGEMENT COMPANY, LLP
STEVEN C. ANGELI, CFA
Senior Vice President, Partner
STEPHEN MORTIMER
Vice President
MARIO E. ABULARACH
Vice President
HARTFORD INVESTMENT MANAGEMENT COMPANY**
MARK WATERHOUSE
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Small Company Fund Class A, before sales charge, returned 25.26%
for the six-month period ended April 30, 2006. The Fund outperformed the 20.31%
return of the Russell 2000 Growth Index and the 19.40% return of the Lipper
Small Cap Growth peer group average.
WHY DID THE FUND PERFORM THIS WAY?
To the disappointment of the growing legion of pundits, the much publicized
"small cap cycle" remained alive and well during the semi-annual period. The
remarkable gain of the Russell 2000 Growth Index was helped by strong
performance of Materials, Energy, Industrials and Information Technology
sectors. While still posting double-digit returns during the period, Health
Care, Financials and Consumer Discretionary lagged other sectors.
With an investment process and track record rooted in individual stock
selection, the Fund's out performance was driven by stock selection in many
sectors. Stock selection in Financials, Information Technology and Health Care
were the areas of greatest relative strength, which more than offset weaker
stock selection in Industrials and Consumer Staples. At the margin, the Fund's
sector allocations detracted from benchmark-relative returns. For example, an
overweight to Financials and a modest underweight to Materials and Energy
detracted from relative performance.
The top contributors to relative performance were Gol Linhas Aereas
(Transportation), CSR (Technology Hardware & Equipment) and Melco International
(Capital Goods), none of which were held in the Index. Gol Linhas Aereas, the
dominant low-cost airline in Brazil, appreciated in excess of 100% on continued
market share gains. CSR, a leading provider of bluetooth chipsets that enable
wireless communication via mobile phones, wireless headsets and electronics
peripherals, benefited from solid top and bottom-line results. Within
Financials, our exposure to stock exchanges such as Hong Kong Exchanges
(Diversified Financials)
67
- --------------------------------------------------------------------------------
and Intercontinental Exchange (Diversified Financials) was additive. Also worth
noting was the strong performance of Equinix (Software and Services) and Redback
Networks (Technology Hardware & Equipment) during the period, both of which were
meaningful contributors to the Fund's absolute return.
Stocks that detracted the most from the Fund's benchmark-relative performance
were Jarden (Consumer Durables), Verint Systems (Software & Services) and Peet's
Coffee & Tea (Food, Beverage & Tobacco). Jarden, a stock we sold during the
period, fell on concerns about the company's future earnings. Similarly, we sold
Peet's Coffee & Tea based on the company's reduced guidance. Verint Systems, a
security and business intelligence software provider, remained in the Fund as of
the end of the period.
WHAT IS THE OUTLOOK?
While economic growth has certainly slowed from last year's strong levels, we
expect most sectors of the economy to show moderate growth during 2006. Of
course, the magnitude and sustainability of that growth will depend on the Fed,
who we expect will continue to tighten at least in the near term. All the
markets' eyes are on the Fed, and the direction of its new chief, Ben Bernanke.
We expect volatility around the Fed's outlook and rate decisions. While we are
interested observers, luckily we are not forecasters of the economy. Rather, we
remain focused on building a portfolio of small companies that have the long
term potential to grow into tomorrow's leaders. As of the end of the period, the
Fund was overweight Financials, Telecommunication Services and Industrials and
underweight Health Care, Energy, Consumer Staples and Information Technology.
As of June 12, 2006, Hartford Investment Management Company was added as a
subadviser to the Fund. Mark Waterhouse, Executive Vice President, will manage
the portion of the Fund's assets that are allocated to Hartford Investment
Management Company. Mr. Waterhouse will invest primarily in small capitalization
companies and will evaluate securities using a bottom-up approach intended to
complement Wellington Management's investment strategy.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 6.8%
- -------------------------------------------------------------------
Capital Goods 1.8
- -------------------------------------------------------------------
Consumer Cyclical 11.3
- -------------------------------------------------------------------
Energy 4.2
- -------------------------------------------------------------------
Exchange Traded Funds 1.3
- -------------------------------------------------------------------
Finance 14.7
- -------------------------------------------------------------------
Health Care 10.8
- -------------------------------------------------------------------
Services 11.8
- -------------------------------------------------------------------
Technology 27.9
- -------------------------------------------------------------------
Transportation 4.7
- -------------------------------------------------------------------
Utilities 1.9
- -------------------------------------------------------------------
Short-Term Investments 26.6
- -------------------------------------------------------------------
Other Assets & Liabilities -23.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
68
The Hartford SmallCap Growth Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS TO MAXIMIZE SHORT- AND LONG-TERM CAPITAL
APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 4/30/96 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
SMALLCAP GROWTH FUND RUSSELL 2000 GROWTH INDEX
-------------------- -------------------------
4/30/96 9450 10000
9913 10513
9265 9830
8324 8629
9039 9268
9658 9745
8972 9325
8969 9585
8611 9771
8478 10016
7458 9411
6802 8746
4/97 6636 8645
7882 9944
8073 10281
8546 10808
8326 11132
8884 12020
8475 11298
8505 11029
8742 11036
8451 10889
9455 11850
10062 12348
4/98 10138 12423
9618 11520
10007 11638
9199 10666
7188 8204
7686 9036
8187 9508
9221 10246
10477 11173
11222 11676
9801 10607
10510 10985
4/99 10902 11955
10981 11974
12502 12605
12663 12216
12958 11759
13566 11986
15569 12293
17501 13592
22152 15987
22583 15838
31532 19524
28214 17472
4/00 23624 15707
20343 14331
25211 16183
23341 14796
27969 16352
26386 15540
23989 14278
17083 11685
19061 12400
19425 13403
15776 11566
14097 10514
4/01 15379 11801
15366 12075
15951 12405
14787 11347
13818 10637
11248 8921
12386 9779
13789 10595
14874 11255
14384 10855
13584 10152
14986 11035
4/02 14344 10796
13339 10165
12096 9303
10456 7873
10403 7869
9537 7301
10297 7670
11454 8430
10548 7849
10198 7635
9735 7431
9847 7544
4/03 10780 8258
12050 9188
12360 9365
13181 10073
14100 10614
14106 10346
15151 11240
15528 11606
15747 11658
16686 12270
16659 12251
16527 12309
4/04 15799 11691
15965 11923
16487 12320
15145 11214
14946 10973
15766 11580
16269 11861
17380 12863
18127 13326
17321 12725
17803 12900
17578 12416
4/05 16765 11626
17995 12446
18524 12848
19761 13746
19404 13553
19377 13660
18716 13155
19781 13900
19893 13879
21388 15218
21050 15137
21652 15873
4/06 21347 15827
</Table>
<Table>
--- SMALLCAP GROWTH FUND --- RUSSELL 2000 GROWTH INDEX
$9,450 starting value $10,000 starting value
$21,347 ending value $15,827 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- ------------------------------------------------------------------
SmallCap A# 1/4/1988 27.34% 6.78% 8.49% 13.02%
- ------------------------------------------------------------------
SmallCap A## 1/4/1988 20.33% 5.57% 7.87% 12.67%
- ------------------------------------------------------------------
SmallCap B# 11/14/1994 26.49% 6.08% NA* NA*
- ------------------------------------------------------------------
SmallCap B## 11/14/1994 21.49% 5.76% NA* NA*
- ------------------------------------------------------------------
SmallCap C# 11/14/1994 26.36% 6.04% 7.82% 11.27%
- ------------------------------------------------------------------
SmallCap C## 11/14/1994 25.36% 6.04% 7.82% 11.27%
- ------------------------------------------------------------------
SmallCap H# 11/14/1994 26.69% 6.18% NA* NA*
- ------------------------------------------------------------------
SmallCap H## 11/14/1994 22.69% 5.86% NA* NA*
- ------------------------------------------------------------------
SmallCap L# 1/4/1988 27.62% 6.85% 8.52% 13.04%
- ------------------------------------------------------------------
SmallCap L## 1/4/1988 21.56% 5.81% 8.00% 12.74%
- ------------------------------------------------------------------
SmallCap M# 11/14/1994 26.63% 6.17% NA* NA*
- ------------------------------------------------------------------
SmallCap M## 11/14/1994 22.63% 5.85% NA* NA*
- ------------------------------------------------------------------
SmallCap N# 11/14/1994 26.65% 6.17% 7.89% 11.33%
- ------------------------------------------------------------------
SmallCap N## 11/14/1994 25.65% 6.17% 7.89% 11.33%
- ------------------------------------------------------------------
SmallCap Y# 2/19/2002 27.90% NA NA 11.61%
- ------------------------------------------------------------------
</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 14.06%
for the six-month period ended April 30, 2006. The Fund underperformed the
Russell 2000 Growth Index, which was up 20.31%, as well as the Lipper Small-Cap
Growth average, which gained 20.33%.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity markets started off the year strong. Corporate earnings growth
continued to be excellent. Investors were encouraged by low inflation data and
remained hopeful that the Federal Reserve would be nearing the end of interest
rate hikes. For the six month period ended April 30, 2006 the Russell 2000
Growth Index (+20.3%) led the S&P MidCap 400 Index (+15.2%) and the S&P 500
Index (+9.6%). Within the Russell 2000 Growth Index sector returns were positive
across the board, with the Materials (+43.7%) and Industrials (+24.8%) sectors
as absolute leaders for the period.
Although absolute performance was quite strong for the quarter at approximately
+15%; relative performance suffered from poor stock selection across several
sectors. The Health Care, Industrials, Information Technology and Consumer
Discretionary sectors were the largest detractors from relative performance due
to weak stock selection. In Health Care, despite strong returns from
pharmaceutical company Abgenix (+113%), our position in Encysive Pharmaceuticals
(-59.4%) negatively impacted sector results. The security fell when FDA approval
of its cardiovascular disease drug Thelin was delayed. Results in both the
Industrials and Information Technology sectors, while strong on an absolute
basis, lagged the benchmark. In the Industrials sector transportation-related
stocks such as, Titan International and Continental Airlines fell. In
Information Technology, PortalPlayer (-47%), a semiconductor company fell due to
reduced expectations for the Apple iPod shipments and lackluster response to the
new 1G iPod nano. We continue to find this stock attractive from a valuation
perspective. In addition, our holding of Standard Pacific in the Consumer
Discretionary sector detracted from relative performance.
Stock selection within the Materials sector was a positive contributor to
performance for the period. Century Aluminum Company (+84%), gained during the
period driven by significant
69
- --------------------------------------------------------------------------------
materials demand in China. As valuation factors decreased in attractiveness
towards the end of the period, we eliminated our position in the stock. Shares
of Carpenter Technology Corp. (+99%), a corrosion-resistant materials
manufacturer, rose as the company posted growing profits. Other positive
contributors include energy company Frontier Oil, whose shares gained with
rising oil prices; and semiconductor chip maker MEMC, whose shares rose due to
its favorable pricing position in the market.
WHAT IS THE OUTLOOK?
While economic growth has slowed from last year's strong levels, we expect most
sectors of the economy will show moderate growth during 2006. The magnitude and
sustainability of that growth will depend on the Federal Reserve, which we
expect will continue to tighten at least in the very near term. We anticipate
volatility around the Fed's outlook and rate decisions.
At the end of the quarter, the Portfolio held greater-than-index weights in
Information Technology and Energy, and lower-than-index weights in Consumer
Staples and Industrials.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 6.0%
- -------------------------------------------------------------------
Capital Goods 4.2
- -------------------------------------------------------------------
Consumer Cyclical 10.0
- -------------------------------------------------------------------
Energy 7.2
- -------------------------------------------------------------------
Finance 11.8
- -------------------------------------------------------------------
Health Care 15.1
- -------------------------------------------------------------------
Services 13.7
- -------------------------------------------------------------------
Technology 26.2
- -------------------------------------------------------------------
Transportation 4.4
- -------------------------------------------------------------------
Short-Term Investments 14.1
- -------------------------------------------------------------------
Other Assets & Liabilities -12.7
- -------------------------------------------------------------------
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 - 4/30/06
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 10103
9667 10316
10178 10896
10442 11197
11179 12042
10915 11804
11568 12541
11654 12639
11313 12121
4/97 11900 12844
12638 13625
13266 14235
14194 15367
13370 14507
14052 15301
13673 14791
14242 15475
14384 15740
14507 15914
15618 17062
16519 17935
4/98 16870 18115
16547 17804
17496 18527
17667 18330
15077 15679
15703 16684
16936 18040
17914 19133
18891 20235
19505 21080
19131 20425
20071 21242
4/99 20972 22065
20358 21545
21691 22739
21087 22029
20761 21920
20186 21319
21269 22668
21631 23129
23107 24490
22012 23260
22051 22820
24182 25051
4/00 23488 24298
22970 23799
23469 24386
22976 24005
24179 25495
23045 24149
23075 24047
21694 22152
21931 22261
22500 23050
20887 20950
19368 19623
4/01 20753 21146
20918 21288
20006 20771
19758 20566
18444 19280
17110 17724
17472 18062
18786 19447
18920 19619
18455 19332
18186 18960
18806 19673
4/02 17224 18480
16975 18345
15744 17039
14793 15711
14658 15813
13024 14096
14203 15335
15269 16237
14286 15284
13893 14885
13603 14662
13655 14804
4/03 14689 16022
15403 16866
15620 17081
16003 17383
16200 17721
15931 17533
16769 18524
16913 18687
17907 19666
17989 20027
18103 20305
17772 19999
4/04 17524 19686
17751 19955
18134 20343
17462 19670
17462 19749
17379 19963
17338 20268
17886 21087
18468 21805
18125 21273
18499 21721
17948 21336
4/05 17771 20932
18385 21597
18333 21628
19165 22432
19186 22228
19394 22408
19134 22034
19935 22866
20102 22875
20717 23480
20633 23544
20873 23837
4/06 21207 24157
</Table>
<Table>
--- STOCK FUND --- S&P 500 INDEX
$9,450 starting value $10,000 starting value
$21,207 ending value $24,157 ending value
</Table>
S&P 500 INDEX is a market capitalization weighted price index composed of 500
widely held common stocks.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -------------------------------------------------------
Stock A# 7/22/1996 19.33% 0.43% 8.62%
- -------------------------------------------------------
Stock A## 7/22/1996 12.77% -0.70% 7.99%
- -------------------------------------------------------
Stock B# 7/22/1996 18.22% -0.36% NA*
- -------------------------------------------------------
Stock B## 7/22/1996 13.22% -0.76% NA*
- -------------------------------------------------------
Stock C# 7/22/1996 18.43% -0.21% 7.88%
- -------------------------------------------------------
Stock C## 7/22/1996 17.43% -0.21% 7.88%
- -------------------------------------------------------
Stock Y# 7/22/1996 19.88% 0.99% 9.16%
- -------------------------------------------------------
</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
PETER I. HIGGINS, CFA
Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
The Hartford Stock Fund returned 10.83% for the six-month period ended April 30,
2006, outperforming the 9.64% return of its S&P 500 benchmark, and the 9.22%
return of its Lipper Large Cap Core peer group.
WHY DID THE FUND PERFORM THIS WAY?
U.S. equity indices continued to move higher during the period, as investors
sensed that the Federal Reserve may be close to completing this interest rate
tightening cycle and economic data indicated strong global growth. This positive
sentiment was coupled with continued strong earnings growth as the S&P 500 Index
appeared ready to post its 16th straight quarter of double digit growth in
operating earnings (since 2Q 2002). Propelled by the strong economic growth
environment, Materials, Energy, and Industrials were the strongest performing
sectors of the S&P 500 during the period. Utilities, Health Care, and Consumer
Staples were the worst performing sectors for the period as investors clearly
shifted away from "safe havens" and into more cyclically exposed sectors.
The Fund outperformed during this period primarily due to strong stock selection
in Technology and Financials. UBS was the greatest contributor to returns on
both an absolute and benchmark-relative basis. One of the world's fastest
growing and most profitable wealth managers, UBS continues to improve its mix of
business towards the higher multiple wealth management business. Technology
stocks Nokia and Samsung were also strong contributors, as Nokia demonstrated an
ability to gain share and improve profitability, while Samsung benefited from
its leading position in Flash memory.
On the negative side, stock selection in the Materials and Energy sectors hurt
returns relative to the benchmark. The largest detractor from returns on both an
absolute and relative basis was XM Satellite, which struggled controlling costs
per gross subscriber add during the fourth quarter. Medtronic also negatively
contributed to results, as product recalls at a Cardiac Rhythm Devices
competitor caused an overall slowdown in the market impacting Medtronic's
business as well. In addition, indications of a cut in government reimbursement
rates have added to the controversy. Dow Chemical detracted from results as it
struggles with passing on the higher energy prices.
WHAT IS THE OUTLOOK?
We continue to focus on our philosophy of constructing the Fund one stock at a
time using fundamental analysis to build a well diversified portfolio drawn from
a broad spectrum of opportuni-
71
- --------------------------------------------------------------------------------
ties. As a result of our bottom-up up investment approach, at period end the
Fund's largest overweights were in the Consumer Discretionary (mainly retailing
and media) and Health Care sectors. Our largest underweights were in Consumer
Staples, Energy, Financials, and Industrials.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 3.8%
- -------------------------------------------------------------------
Capital Goods 2.7
- -------------------------------------------------------------------
Consumer Cyclical 7.6
- -------------------------------------------------------------------
Consumer Staples 4.8
- -------------------------------------------------------------------
Energy 7.2
- -------------------------------------------------------------------
Finance 20.2
- -------------------------------------------------------------------
Health Care 13.7
- -------------------------------------------------------------------
Services 9.6
- -------------------------------------------------------------------
Technology 27.1
- -------------------------------------------------------------------
Transportation 0.5
- -------------------------------------------------------------------
Utilities 2.2
- -------------------------------------------------------------------
Short-Term Investments 12.5
- -------------------------------------------------------------------
Other Assets & Liabilities -11.9
- -------------------------------------------------------------------
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 - 4/30/06
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
10/05 9280 9921 9833
11/05 9469 9965 10205
12/05 9507 10059 10208
1/06 9670 10060 10479
2/06 9650 10093 10507
3/06 9679 9994 10638
4/06 9782 9976 10780
</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 $10,780 ending value
$9,782 ending value $9,976 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2010 A# 9/30/2005 3.51%
- ------------------------------------------------------
Target Retirement 2010 A## 9/30/2005 -2.18%
- ------------------------------------------------------
Target Retirement 2010 B# 9/30/2005 3.04%
- ------------------------------------------------------
Target Retirement 2010 B## 9/30/2005 -1.76%
- ------------------------------------------------------
Target Retirement 2010 C# 9/30/2005 3.06%
- ------------------------------------------------------
Target Retirement 2010 C## 9/30/2005 2.10%
- ------------------------------------------------------
Target Retirement 2010 Y# 9/30/2005 3.73%
- ------------------------------------------------------
</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
Senior Vice President
CHRISTOPHER HANLON, CFA
Senior Vice President
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Target Retirement
2010 Fund Class A had a total return, before sales charges, of 5.41% versus the
returns of 6.64% for the Lipper Mixed-Asset Target 2010 Funds Average and 0.56%
for the Lehman Brothers U.S. Aggregate Bond Index and 9.64% for the S&P 500
Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing
73
- --------------------------------------------------------------------------------
groups of the period. The positive economic backdrop particularly benefited
small caps, as measured by the Russell 2000 Index. They outpaced their large cap
counterparts, gaining 18.91% for the period. International equities, as measured
by the MSCI EAFE Index (a common proxy for foreign stock markets) were the
strongest performing equity category, returning 22.89% for the period.
International equities were supported by strong global growth and concern
regarding a weakening US dollar.
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 target asset allocation is set at approximately 55% fixed
income and 45% equity. The fixed income component of the Fund was positioned for
rising interest rates, maintaining a duration lower than the Lehman Aggregate.
For the six month period, this short duration positioning enhanced overall
performance. Within the major sectors of the Lehman Brothers U.S. Aggregate
Index (a proxy for U.S. investment grade bonds), ABS securities were the top
performer, while U.S. Treasuries were the weakest. The Fund is structured around
five fixed income indices. For the period the best performer was the Lehman
Brothers High Yield Index (up 4.95%), followed by the Credit Suisse Leveraged
Loan Index (up 3.46%), the Lehman Brothers 1-3 Year Government Index (up 1.47%),
the Lehman Brothers U.S. Aggregate Index (up 0.56%), and the Lehman U.S. TIPS
Index (down 0.96%). Consequently, the Fund benefited from its diversification
since 3 of the 4 other indices outperformed the Lehman Brothers U.S. Aggregate
Index.
The equity component of the Fund is structured around five equity indices. The
Fund benefited from its allocation to small cap, mid cap and international
equities as each of these asset classes outperformed domestic large caps. For
the period, the MSCI EAFE (up 22.89%) was the top performing index, followed by
the small cap Russell 2000 (up 18.91%), the Russell Midcap (up 14.35%), the
Russell 1000 Value (up 12.87%) and the Russell 1000 Growth (up 7.06%). The Funds
higher allocation to the traditionally more volatile asset classes was the
greatest contributor to the Fund's outperformance relative to its benchmark.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
slightly defensive, with durations close to or slightly below the benchmark
duration. Additionally, tight spreads of Investment-Grade Corporate yields over
Treasury yields, combined with concerns about the risk of leveraged buyouts and
other event risks, have generally led the underlying Funds to decrease exposure
to the Investment Grade Bond sector. In addition to large caps, by design the
equity component targets allocations to mid cap, small cap and international
stocks. When these "riskier" stocks lead the market, we expect our portfolio
will lead the large cap index. 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. Whenever possible, we will use cash flows to implement our allocation
changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 5.8%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 11.6
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 6.7
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 2.0
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 2.9
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 12.7
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 1.9
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 13.5
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 3.9
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 12.6
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 5.8
- -------------------------------------------------------------------
Other Assets & Liabilities 3.2
- -------------------------------------------------------------------
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 - 4/30/06
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
10/05 9252 9921 9833
11/05 9469 9965 10205
12/05 9585 10059 10208
1/06 9857 10060 10479
2/06 9819 10093 10507
3/06 9904 9994 10638
4/06 10031 9976 10780
</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 $10,780 ending value
$10,031 ending value $9,976 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2010 A# 9/30/2005 6.15%
- ------------------------------------------------------
Target Retirement 2010 A## 9/30/2005 0.31%
- ------------------------------------------------------
Target Retirement 2010 B# 9/30/2005 5.69%
- ------------------------------------------------------
Target Retirement 2010 B## 9/30/2005 0.69%
- ------------------------------------------------------
Target Retirement 2010 C# 9/30/2005 5.68%
- ------------------------------------------------------
Target Retirement 2010 C## 9/30/2005 4.68%
- ------------------------------------------------------
Target Retirement 2010 Y# 9/30/2005 6.24%
- ------------------------------------------------------
</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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Target Retirement
2020 Fund Class A had a total return, before sales charges, of 8.42% versus the
returns of 7.93% for the Lipper Mixed-Asset Target 2020 Funds Average and 0.56%
for the Lehman Brothers U.S. Aggregate Bond Index and 9.64% for the S&P 500
Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to its concerns that monetary policy had been too
accommodative and that strong growth in the U.S. and global economies would lead
to higher inflation. However, despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended the
year only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve yield in which investors did not receive substantially
higher rates in return for longer holding periods. So far this year, investor
confidence in the future prospects of the U.S. economy has continued to grow.
Overseas economies are also demonstrating greater strength, contributing further
to an improvement in sentiment among U.S. businesses. Many commodities reached
historical highs, and the price of oil again approached record highs. Therefore,
in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose later in the first quarter of 2006. As
a result, these rising rates caused most investment grade fixed-rate bonds to
decline in value. However, the credit-sensitive sectors generally outperformed
Treasury bonds, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis.
The conditions that were favorable for traditionally riskier bonds were also
well suited for stocks as equity markets also responded favorably to a more
optimistic economic outlook. Equities outperformed bonds year-to-date and for
the six month period. The large cap S&P 500 Index returned 9.64% for the period,
with the cyclical (economically sensitive) Materials and Industrials sectors
being among the strongest performing groups. Oil companies responding to record
profits and historically high gasoline prices caused the Energy sector to be one
of the top performing sectors. In contrast, the typically defensive Utilities
and Consumer Staples sectors were among the weakest performing
75
- --------------------------------------------------------------------------------
groups of the period. The positive economic backdrop particularly benefited
small caps, as measured by the Russell 2000 Index. They outpaced their large cap
counterparts, gaining 18.91% for the period. International equities, as measured
by the MSCI EAFE Index (a common proxy for foreign stock markets) were the
strongest performing equity category, returning 22.89% for the period.
International equities were supported by strong global growth and concern
regarding a weakening US dollar.
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 target asset allocation is set at approximately 65% fixed
income and 35% equity. The equity component of the Fund is structured around
five equity indices. The Fund benefited from its allocation to small cap, mid
cap and international equities as each of these asset classes outperformed
domestic large caps. For the period, the MSCI EAFE (up 22.89%) was the top
performing index, followed by the small cap Russell 2000 (up 18.91%), the
Russell Midcap (up 14.35%), the Russell 1000 Value (up 12.87%) and the Russell
1000 Growth (up 7.06%). The Funds higher allocation to the traditionally more
volatile asset classes was the greatest contributor to the Fund's outperformance
relative to its benchmark.
The fixed income component of the Fund was positioned for rising interest rates,
maintaining a duration less than the Lehman Aggregate. For the six month period,
this short duration positioning enhanced overall performance. Within the major
sectors of the Lehman Brothers U.S. Aggregate Index (a proxy for U.S. investment
grade bonds), ABS securities were the top performer, while U.S. Treasuries were
the weakest. The Fund is structured around five fixed income indices. For the
period the best performer was the Lehman Brothers High Yield Index (up 4.95%),
followed by the Credit Suisse Leveraged Loan Index (up 3.46%), the Lehman
Brothers 1-3 Year Government Index (up 1.47%), the Lehman Brothers U.S.
Aggregate Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%).
Consequently, the Fund benefited from its diversification since 3 of the 4 other
indices outperformed the Lehman Brothers U.S. Aggregate Index.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain
slightly defensive, with durations close to or slightly below the benchmark
duration.
Additionally, tight spreads of Investment-Grade Corporate yields over Treasury
yields, combined with concerns about the risk of leveraged buyouts and other
event risks, have generally led the underlying Funds to decrease exposure to the
Investment Grade Bond sector. In addition to large caps, by design the equity
component targets allocations to mid cap, small cap and international stocks.
When these "riskier" stocks lead the market, we expect our portfolio will lead
the large cap index. 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. Whenever possible,
we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 7.3%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 13.8
- -------------------------------------------------------------------
Hartford Floating Rate Fund, Class Y 4.5
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 2.8
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.8
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 1.8
- -------------------------------------------------------------------
Hartford High Yield Fund, Class Y 1.8
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 7.3
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 1.9
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 5.4
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 7.3
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 1.9
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 7.2
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 11.1
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 2.8
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 6.5
- -------------------------------------------------------------------
Other Assets & Liabilities 8.1
- -------------------------------------------------------------------
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 - 4/30/06
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 S&P 500 INDEX AGGREGATE BOND INDEX
--------------------------- ------------- --------------------
9/30/05 9450 10000 10000
10/05 9214 9833 9921
11/05 9507 10205 9965
12/05 9551 10208 10059
1/06 9832 10479 10060
2/06 9778 10507 10093
3/06 9886 10638 9994
4/06 9995 10780 9976
</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 $10,780 ending value
$9,995 ending value $9,976 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE INCEPTION
- ------------------------------------------------------
Target Retirement 2010 A# 9/30/2005 5.76%
- ------------------------------------------------------
Target Retirement 2010 A## 9/30/2005 -0.05%
- ------------------------------------------------------
Target Retirement 2010 B# 9/30/2005 5.35%
- ------------------------------------------------------
Target Retirement 2010 B## 9/30/2005 0.72%
- ------------------------------------------------------
Target Retirement 2010 C# 9/30/2005 5.37%
- ------------------------------------------------------
Target Retirement 2010 C## 9/30/2005 4.44%
- ------------------------------------------------------
Target Retirement 2010 Y# 9/30/2005 6.03%
- ------------------------------------------------------
</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
HUGH WHELAN, CFA
Executive Vice President
- --------------------------------------------------------------------------------
HOW DID THE FUND PERFORM?
For the six-month period ended April 30, 2006, The Hartford Target Retirement
2030 Fund Class A had a total return, before sales charges, of 8.48% versus the
returns of 10.93% for the Lipper Mixed-Asset Target 2030 Funds Average and 0.56%
for the Lehman Brothers U.S. Aggregate Bond Index and 9.64% for the S&P 500
Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve's monetary policy reflected a concern that
strong growth in the U.S. and global economies would lead to inflation. As the
Federal Reserve (the Fed) continued to raise its Target Federal Funds (Fed
Funds) rate, short-term interest rates rose. However, in part due to demand from
domestic and foreign investors, long term rates remained relatively stable
through the end of the year and did not start rising until later into the six
month period ended April 30, 2006. As encouraging economic data in the new year
continued to show strength, investors gained confidence in the US economy's
prospects for future growth. Overseas economies also demonstrated greater
strength during the period, which contributed further to an improvement in
sentiment among US businesses. Although many commodities reached historical
highs, the price of oil approached the record level reached after Hurricanes
Katrina and Rita, and the potential for inflation increased as the economy
strengthened, businesses continued to increase hiring and making capital
expenditures.
Although rising rates have a negative impact upon fixed rate bonds, credit
sensitive bonds generally outperformed U.S. Treasuries in response to the good
economic news. The conditions that were favorable for traditionally riskier
bonds were also well suited for stocks as equity markets also responded
favorably to a more optimistic economic outlook. Equities outperformed bonds
year-to-date and for the six month period. The large cap S&P 500 Index returned
9.64% for the period, with the cyclical (economically sensitive) Materials and
Industrials sectors being among the strongest performing groups. Oil companies
responding to record profits and historically high gasoline prices caused the
Energy sector to be one of the top performing sectors. In contrast, the
typically defensive Utilities and Consumer Staples sectors were among the
weakest performing groups of the period. The positive economic backdrop
particularly benefited small caps, as measured by the Russell 2000 Index. They
77
- --------------------------------------------------------------------------------
outpaced their large cap counterparts, gaining 18.91% for the period.
International equities, as measured by the MSCI EAFE Index (a common proxy for
foreign stock markets) were the strongest performing equity category, returning
22.89% for the period. International equities were supported by strong global
growth and concern regarding a weakening US dollar.
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% fixed income
and 20% equity. The equity component of the Fund is structured around five
equity indices. The Fund benefited from its allocation to small cap, mid cap and
international equities as each of these asset classes outperformed domestic
large caps. For the period, the MSCI EAFE (up 22.89%) was the top performing
index, followed by the small cap Russell 2000 (up 18.91%), the Russell Midcap
(up 14.35%), the Russell 1000 Value (up 12.87.%) and the Russell 1000 Growth (up
7.06%). The Funds higher allocation to the traditionally more volatile asset
classes was the greatest contributor to the Fund's outperformance relative to
its benchmark.
The fixed income component of the Fund was positioned for rising interest rates,
maintaining a duration lower than the Lehman Aggregate. For the six month
period, this short duration positioning enhanced overall performance. Within the
major sectors of the Lehman Brothers U.S. Aggregate Index (a proxy for U.S.
investment grade bonds), ABS securities were the top performer, while U.S.
Treasuries were the weakest. The Fund is structured around three fixed income
indices. For the period the best performer was the Lehman Brothers 1-3 Year
Government Index (up 1.47%), followed by the Lehman Brothers U.S. Aggregate
Index (up 0.56%), and the Lehman U.S. TIPS Index (down 0.96%). Consequently, the
Fund benefited modestly from its diversification since 1 of the 2 other indices
outperformed the Lehman Brothers U.S. Aggregate Index.
WHAT IS THE OUTLOOK?
Up to this point, economic data has proven to be stronger than the markets had
anticipated, thereby leading many investors to expect more aggressive monetary
tightening by the Federal Reserve through the first half of 2006. However,
statements by Fed officials indicate that there is a general consensus that
policy is at or very near neutral. Policy going forward is highly "data
dependent," which will likely lead to some increase in market volatility as
market participants try to anticipate the Fed's next move. At this point, policy
is well beyond that stage where rate hikes were automatic regardless of the
incoming data. Even so, as of this discussion on April 30, 2006, the market
expectation remains certain that the Fed will raise rates again at its meeting
in May, and could also raise rates during the summer. Subsequently, the Fed did,
indeed, increase the Fed Funds rate to 5.00% on May 10, 2006. Adding further
upward pressure to interest rates, oil prices and many commodities continue to
rise in price.
With this backdrop, our underlying fixed income funds by and large remain some
defensive, with durations close to or slightly below the benchmark duration.
Additionally, tight spreads of Investment-Grade Corporate yields over Treasury
yields, combined with concerns about the risk of leveraged buyouts and other
event risks, have generally led the underlying Funds to decrease exposure to the
Investment Grade Bond sector. In addition to large caps, by design the equity
component targets allocations to mid cap, small cap and international stocks.
When these "riskier" stocks lead the market, we expect our portfolio will lead
the large cap index. 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. Whenever possible,
we will use cash flows to implement our allocation changes.
COMPOSITION BY UNDERLYING FUND
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
FUND NAME NET ASSETS
- -------------------------------------------------------------------
Hartford Capital Appreciation Fund, Class Y 9.3%
- -------------------------------------------------------------------
Hartford Disciplined Equity Fund, Class Y 12.5
- -------------------------------------------------------------------
Hartford Global Leaders Fund, Class Y 4.4
- -------------------------------------------------------------------
Hartford Growth Fund, Class Y 2.5
- -------------------------------------------------------------------
Hartford Growth Opportunities Fund, Class Y 3.4
- -------------------------------------------------------------------
Hartford Inflation Plus Fund, Class Y 5.9
- -------------------------------------------------------------------
Hartford International Capital Appreciation Fund,
Class Y 3.4
- -------------------------------------------------------------------
Hartford International Opportunities Fund, Class Y 2.5
- -------------------------------------------------------------------
Hartford International Small Company Fund, Class Y 3.4
- -------------------------------------------------------------------
Hartford MidCap Value Fund, Class Y 1.6
- -------------------------------------------------------------------
Hartford Select MidCap Growth Fund, Class Y 1.6
- -------------------------------------------------------------------
Hartford Short Duration Fund, Class Y 2.5
- -------------------------------------------------------------------
Hartford Small Company Fund, Class Y 5.0
- -------------------------------------------------------------------
Hartford SmallCap Growth Fund, Class Y 8.4
- -------------------------------------------------------------------
Hartford Total Return Bond Fund, Class Y 8.4
- -------------------------------------------------------------------
Hartford Value Fund, Class Y 3.4
- -------------------------------------------------------------------
Hartford Value Opportunities Fund, Class Y 5.9
- -------------------------------------------------------------------
Other Assets & Liabilities 15.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
78
The Hartford Tax-Free California Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENT INCOME EXEMPT FROM BOTH FEDERAL
AND CALIFORNIA INCOME TAX.
PERFORMANCE OVERVIEW(2) 10/31/02 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS CALIFORNIA MUNICIPAL
TAX-FREE CALIFORNIA FUND BOND INDEX
------------------------ ------------------------------------
10/31/02 9550 10000
9477 9985
9718 10166
9619 10116
9813 10269
9805 10274
4/03 9863 10339
10115 10587
10000 10506
9437 10111
9540 10193
9868 10486
9842 10448
9990 10575
10087 10660
10141 10725
10335 10903
10318 10878
4/04 10017 10608
9969 10568
10023 10636
10189 10777
10479 11013
10542 11072
10644 11186
10550 11104
10706 11247
10831 11375
10790 11340
10727 11264
4/05 10924 11449
11009 11532
11097 11617
11047 11574
11167 11701
11097 11631
11036 11556
11090 11614
11189 11714
11202 11749
11288 11837
11213 11758
4/06 11213 11740
</Table>
<Table>
--- TAX-FREE CALIFORNIA FUND --- LEHMAN BROTHERS CALIFORNIA MUNICIPAL
$9,550 starting value BOND INDEX
$11,213 ending value $10,000 starting value
$11,740 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- ----------------------------------------------------
California A# 10/31/2002 2.64% 4.69%
- ----------------------------------------------------
California A## 10/31/2002 -1.98% 3.32%
- ----------------------------------------------------
California B# 10/31/2002 1.88% 3.91%
- ----------------------------------------------------
California B## 10/31/2002 -3.07% 3.12%
- ----------------------------------------------------
California C# 10/31/2002 1.87% 3.96%
- ----------------------------------------------------
California C## 10/31/2002 0.88% 3.96%
- ----------------------------------------------------
</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 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 six-month period ended April 30, 2006, The Hartford Tax-Free California
Fund Class A had a total return, before sales charges, of 1.59% versus the
return of 1.60 % for the Lipper California Municipal Debt Funds Index and 1.59%
for the Lehman Brothers California Exempt Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates several times
in response to its concerns that monetary policy had been too accommodative and
that strong growth in the U.S. and global economies would lead to higher
inflation. Despite the period of uncertainty after Hurricanes Katrina and Rita,
long-term bond yields remained relatively stable and ended the year only
modestly higher than where they started. This relative stability was in part due
to demand from domestic and foreign investors. So far this year, investor
confidence about prospects for the U.S. economy continues to grow. Overseas
economies are also demonstrating greater strength, contributing further to an
improvement in sentiment among U.S. businesses. Furthermore, many commodities
reached historical highs and the price of oil again approached record levels.
Thus, in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose in March and April. As a result, these
rising rates caused most investment grade fixed-rate bonds to decline in value.
As absolute yields have risen, demand for municipal securities has increased,
whereas the supply of new municipal issuance declined. This technical imbalance
of "greater demand vs. diminished issuance" has been the primary driver of
municipal tax-exempt bonds' superior performance relative to taxable fixed
income. Long maturity municipal bonds have represented steady value while
shorter maturity municipal bonds have seen their value decrease in response to
the Federal Reserve's rate increases. Since the end of last year, the issuance
of high yield tax-exempt debt has been less than robust and thus the performance
of this particular sector of the tax-exempt market has been especially strong.
Overall, Fund performance has primarily been driven by two factors, curve
positioning and security selection. The Fund's performance is sensitive to
changes in interest rates. As interest rates rose, the price of fixed rate bonds
generally declined in response. During this period, Fund exposure to long
maturity securities (25+ years) have performed well. However, these securities
are also more susceptible to price volatility and when the market for fixed
income product has produced negative performance (March 2006), these long
maturity bonds have produced even greater under performance. Fund performance
continues to benefit
79
- --------------------------------------------------------------------------------
from an exposure to triple-B and double-B rated securities. As the economy
within the State of California has stabilized and now appears to be improving,
underlying credit fundamentals for lower quality credits have also improved. The
Fund has benefited from positive demographic trends in the "Education" sector as
well as from the slowing housing market in the "Special Tax" sector. Both
sectors represent large exposures within the Fund. Our earlier purchases of
bonds issued in these sectors have performed to expectation providing both
incremental yield and, as the underlying credits have improved, positive total
return. The Fund's exposure to the Commonwealth of Puerto Rico had been a
hindrance on performance. We opted to reduce Fund's exposure to this credit,
until a long-term solution to the Commonwealth's financial crisis has been
crafted. We are currently very cautious on high yield credits and believe better
opportunities exist in higher rated investment grade credits.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates 3.75% since June 2004. Statements by Fed officials
indicate that there is a general consensus that policy is at or very near
neutral. Policy going forward is highly "data dependent" which will likely lead
to some increase in market volatility as market participants try to anticipate
the Fed's next move. At this point, policy is well beyond that stage where rate
hike were automatic regardless of the incoming data. Given recent economic data
as of this discussion on April 30, 2006, the market expectation is almost
certain that the Fed will raise rates again at its meeting in May, and could
also raise rates during the summer. Subsequently, the Fed did, indeed, increase
the Fed Funds rate to 5.00% on May 10, 2006. The economy appears to be expanding
solidly, as demonstrated by the strength of the job sector and increases in
consumer confidence. Business spending remains strong and firms continue to
utilize their excess capacity. While the housing sales appears to be slowing,
investors are split as to whether the housing market will experience a
traditional boom and bust cycle, or will stabilize at a slower, more sustainable
page. The outcome, which will take some time to play out, has significant
implications upon consumer spending in the future. For now, inflation
expectations appear contained as core (without food and fuel) measures of
inflation are well behaved and the Fed seems intent upon preventing any
resurgence in inflation.
Thus far in 2006, municipal issuance is down approximately 25% compared to last
year. The forward calendar of issuance is similarly diminished. We see no change
in technical conditions and therefore expect municipal tax-exempt securities to
outperform most other fixed income taxable alternatives. Credit fundamentals for
most investment grade municipal bond issuers remain favorable. Driven by a
robust economy, we expect current income, sales and property tax-receipts to
provide a substantial buffer against a decline in national economic performance.
Our outlook for high yield credit is more cautious. A cooling of the national
economy, in particularly the housing market, could hold negative consequences
for a number of credits in the municipal high yield arena. Currently, we believe
the investor is not being fairly compensated in additional yield for the
incremental risk assumed when purchasing lower rated high yield securities. We
are especially cautious on lower quality credits with any link to housing
construction, such as Special Tax debt. Going forward, we expect to be very
selective in our purchases of lower quality debt. As such, we continue to prefer
higher quality bonds that will likely outperform when supply returns.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2005
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 31.2%
- -------------------------------------------------------------------
AA 1.4
- -------------------------------------------------------------------
A 14.9
- -------------------------------------------------------------------
BBB 33.2
- -------------------------------------------------------------------
NR 19.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
General Obligations 15.4
- -------------------------------------------------------------------
Health Care/Services 6.8
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 15.1
- -------------------------------------------------------------------
Housing (HFA's, etc.) 3.0
- -------------------------------------------------------------------
Land Development 7.1
- -------------------------------------------------------------------
Miscellaneous 23.2
- -------------------------------------------------------------------
Pollution Control 1.1
- -------------------------------------------------------------------
Public Facilities 8.0
- -------------------------------------------------------------------
Utilities -- Combined 1.3
- -------------------------------------------------------------------
Utilities -- Gas 1.4
- -------------------------------------------------------------------
Utilities -- Water and Sewer 6.7
- -------------------------------------------------------------------
Waste Disposal 1.8
- -------------------------------------------------------------------
Short-Term Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 4.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
80
The Hartford Tax-Free Minnesota Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENT INCOME EXEMPT FROM BOTH FEDERAL
INCOME TAX AND MINNESOTA STATE PERSONAL INCOME TAX.
PERFORMANCE OVERVIEW(1,3) 4/30/96 - 4/30/06
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
----------------------- ------------------------------
4/30/96 9550 10000
9555 9996
9644 10105
9724 10197
9710 10194
9829 10337
9910 10454
10049 10645
10016 10600
10019 10620
10101 10718
9968 10575
4/97 10051 10663
10183 10824
10286 10939
10528 11242
10412 11137
10526 11269
10591 11341
10645 11408
10793 11574
10888 11694
10870 11698
10873 11708
4/98 10815 11655
10984 11839
11018 11886
11042 11916
11255 12100
11395 12251
11345 12251
11391 12294
11415 12325
11524 12471
11471 12417
11461 12434
4/99 11495 12465
11406 12393
11260 12214
11293 12259
11213 12161
11201 12166
11076 12034
11177 12162
11121 12071
11064 12019
11202 12158
11387 12424
4/00 11320 12350
11253 12286
11501 12612
11645 12787
11813 12984
11746 12917
11880 13058
11967 13156
12293 13481
12369 13615
12420 13658
12506 13781
4/01 12337 13631
12484 13778
12555 13870
12740 14076
12928 14308
12871 14260
13043 14429
12879 14308
12747 14173
12929 14418
12995 14592
12776 14306
4/02 13012 14586
13074 14674
13225 14830
13376 15020
13517 15201
13798 15534
13520 15276
13424 15213
13739 15534
13675 15494
13883 15711
13872 15720
4/03 13928 15824
14300 16195
14222 16126
13652 15562
13737 15678
14197 16139
14092 16057
14258 16225
14398 16359
14456 16453
14679 16701
14656 16642
4/04 14300 16248
14263 16189
14295 16248
14482 16462
14782 16792
14872 16881
14989 17026
14848 16886
15039 17092
15158 17252
15101 17194
15001 17086
4/05 15220 17355
15326 17478
15392 17587
15311 17507
15481 17684
15353 17565
15238 17458
15312 17542
15421 17693
15457 17740
15554 17860
15454 17736
4/06 15443 17730
</Table>
<Table>
--- TAX-FREE MINNESOTA FUND --- LEHMAN BROTHERS MUNICIPAL BOND INDEX
$9,550 starting value $10,000 starting value
$15,443 ending value $17,730 ending value
</Table>
LEHMAN BROTHERS MUNICIPAL BOND INDEX is an unmanaged index of municipal bonds
with maturities greater than two years.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- -------------------------------------------------------------------
Minnesota A# 6/2/1986 1.47% 4.59% 4.92% 5.83%
- -------------------------------------------------------------------
Minnesota A## 6/2/1986 -3.10% 3.63% 4.44% 5.58%
- -------------------------------------------------------------------
Minnesota B# 11/14/1994 0.70% 3.88% NA* NA*
- -------------------------------------------------------------------
Minnesota B## 11/14/1994 -4.17% 3.54% NA* NA*
- -------------------------------------------------------------------
Minnesota C# 11/14/1994 0.70% 3.88% 4.06% 4.73%
- -------------------------------------------------------------------
Minnesota C## 11/14/1994 -0.27% 3.88% 4.06% 4.73%
- -------------------------------------------------------------------
Minnesota E# 6/2/1986 1.46% 4.88% 5.07% 5.90%
- -------------------------------------------------------------------
Minnesota E## 6/2/1986 -3.11% 3.92% 4.59% 5.66%
- -------------------------------------------------------------------
Minnesota H# 11/14/1994 0.70% 3.95% NA* NA*
- -------------------------------------------------------------------
Minnesota H## 11/14/1994 -3.20% 3.60% NA* NA*
- -------------------------------------------------------------------
Minnesota L# 11/14/1994 1.40% 4.69% 4.86% 5.51%
- -------------------------------------------------------------------
Minnesota L## 11/14/1994 -3.16% 3.73% 4.38% 5.09%
- -------------------------------------------------------------------
Minnesota M# 11/14/1994 0.70% 3.97% NA* NA*
- -------------------------------------------------------------------
Minnesota M## 11/14/1994 -3.20% 3.63% NA* NA*
- -------------------------------------------------------------------
Minnesota N# 11/14/1994 0.70% 3.93% 4.08% 4.75%
- -------------------------------------------------------------------
Minnesota N## 11/14/1994 -0.28% 3.93% 4.08% 4.75%
- -------------------------------------------------------------------
Minnesota Y# 2/19/2002 1.46% NA NA 4.51%
- -------------------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Tax-Free Minnesota
Fund Class A had a total return, before sales charges, of 1.34% versus the
returns of 1.55 % for the Lipper Minnesota Municipal Debt Funds Index and 1.56%
for the Lehman Brothers Municipal Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates several times
in response to its concerns that monetary policy had been too accommodative and
that strong growth in the U.S. and global economies would lead to higher
inflation. Despite the period of uncertainty after Hurricanes Katrina and Rita,
long-term bond yields remained relatively stable and ended the year only
modestly higher than where they started. This relative stability was in part due
to demand from domestic and foreign investors. So far this year, investor
confidence about prospects for the U.S. economy continues to grow. Overseas
economies are also demonstrating greater strength, contributing further to an
improvement in sentiment among U.S. businesses. Furthermore, many commodities
reached historical highs and the price of oil again approached record levels.
Thus, in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose in March and April. As a result, these
rising rates caused most investment grade fixed-rate bonds to decline in value.
As absolute yields have risen, demand for municipal securities has increased,
whereas the supply of new municipal issuance declined. This technical imbalance
of "greater demand vs. diminished issuance" has been the primary driver of
municipal tax-exempt bonds' superior performance relative to taxable fixed
income. Long maturity municipal bonds have represented steady value while
shorter maturity municipal bonds have seen their value decrease in response to
the Federal Reserve's rate increases. Since the end of last year, the issuance
of high yield tax-exempt debt has been less than robust and thus the performance
of this particular sector of the tax-exempt market has been especially strong.
The Fund's performance is sensitive to changes in interest rates. As interest
rates rose, the price of fixed rate bonds generally declined in response. During
this period, the Fund's shorter duration has decreased the volatility of its
performance. Overall, Fund performance has primarily been driven by two factors,
curve
81
- --------------------------------------------------------------------------------
positioning and security selection. The Fund's lack of exposure to the long
portion of the interest rate curve has hindered performance, as demand for long
maturity bonds (25+ years) has been especially strong. However, these securities
are also more susceptible to price volatility and when the market for fixed
income product has produced negative performance (March 2006), these long
maturity bonds have produced even greater under performance. National economic
soundness has allowed credit fundamentals for lower quality credits to improve.
Fund performance continues to benefit from an exposure to triple-B and double-B
rated securities. The Fund has also benefited from positive demographic trends
in the "Education" and "Health Care" sectors. We are currently comfortable with
statewide management of health care related issuers (hospitals) and own a number
of credits across the ratings spectrum. Additionally, within the Education
sector, we continue to favor charter schools for both their incremental yield
and appropriate statewide oversight. These sectors represent large exposures
within the Fund. Our earlier purchases of bonds issued in these sectors have
performed to expectation providing both incremental yield and, as the underlying
credits have improved, positive total return. The Fund's exposure to the
Commonwealth of Puerto Rico had been a hindrance on performance. We opted to
reduce Fund exposure to this credit, until a long-term solution to the
Commonwealth's financial crisis has been crafted. We are currently very cautious
on high yield credits and believe better opportunities exist in higher rated
investment grade credits.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates 3.75% since June 2004. Statements by Fed officials
indicate that there is a general consensus that policy is at or very near
neutral. Policy going forward is highly "data dependent" which will likely lead
to some increase in market volatility as market participants try to anticipate
the Fed's next move. Policy is well beyond that stage where rate hike were
automatic regardless of the incoming data. Given recent economic data as of this
discussion on April 30, 2006, the market expectation is almost certain that the
Fed will raise rates again at its meeting in May, and could also raise rates
during the summer. Subsequently, the Fed did, indeed, increase the Fed Funds
rate to 5.00% on May 10, 2006. The economy appears to be expanding solidly, as
demonstrated by the strength of the job sector and increases in consumer
confidence. Business spending remains strong and firms continue to utilize their
excess capacity. While the housing sales appears to be slowing, investors are
split as to whether the housing market will experience a traditional boom and
bust cycle, or will stabilize at a slower, more sustainable pace. The outcome,
which will take some time to play out, has significant implications upon
consumer spending in the future. For now, inflation expectations appear
contained as core (without food and fuel) measures of inflation are well behaved
and the Fed seems intent upon preventing any resurgence in inflation.
Thus far in 2006, municipal issuance is down approximately 25% compared to last
year. The forward calendar of issuance is similarly diminished. We see no change
in technical conditions and therefore expect municipal tax-exempt securities to
outperform most other fixed income taxable alternatives. Credit fundamentals for
most investment grade municipal bond issuers remain favorable. Driven by a
robust economy, we expect current income, sales and property tax-receipts to
provide a substantial buffer against a decline in national economic performance.
Our outlook for high yield credit is more cautious. A cooling of the national
economy, in particularly the housing market, could hold negative consequences
for a number of credits in the municipal high yield arena. Currently, we believe
the investor is not being fairly compensated in additional yield for the
incremental risk assumed when purchasing lower rated high yield securities. We
are especially cautious on lower quality credits with any link to housing
construction, such as Special Tax debt. Going forward, we expect to be very
selective in our purchases of lower quality debt. As such, we continue to prefer
higher quality bonds that will likely outperform when supply returns.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 32.3%
- -------------------------------------------------------------------
AA 19.4
- -------------------------------------------------------------------
A 25.7
- -------------------------------------------------------------------
BBB 19.1
- -------------------------------------------------------------------
NR 3.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 4.4%
- -------------------------------------------------------------------
General Obligations 21.3
- -------------------------------------------------------------------
Health Care/Services 16.2
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 15.0
- -------------------------------------------------------------------
Housing (HFA's, etc.) 9.2
- -------------------------------------------------------------------
Miscellaneous 8.4
- -------------------------------------------------------------------
Pollution Control 1.4
- -------------------------------------------------------------------
Public Facilities 2.4
- -------------------------------------------------------------------
Transportation 5.2
- -------------------------------------------------------------------
Utilities -- Combined 0.9
- -------------------------------------------------------------------
Utilities -- Electric 4.4
- -------------------------------------------------------------------
Utilities -- Water and Sewer 4.7
- -------------------------------------------------------------------
Short-Term Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 1.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
82
The Hartford Tax-Free National Fund
(subadvised by Hartford Investment Management Company)
INVESTMENT OBJECTIVE -- SEEKS TO PROVIDE CURRENT INCOME EXEMPT FROM FEDERAL
INCOME TAX.
PERFORMANCE OVERVIEW(1,3) 4/30/96 - 4/30/06
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
---------------------- ------------------------------
4/30/96 9550 10000
9555 9996
9642 10105
9756 10197
9734 10194
9877 10337
9983 10454
10164 10645
10105 10600
10101 10620
10181 10718
10037 10575
4/97 10118 10663
10265 10824
10375 10939
10714 11242
10546 11137
10686 11269
10748 11341
10802 11408
10987 11574
11098 11694
11073 11698
11057 11708
4/98 10961 11655
11171 11839
11192 11886
11203 11916
11395 12100
11537 12251
11498 12251
11529 12294
11561 12325
11676 12471
11604 12417
11584 12434
4/99 11627 12465
11523 12393
11324 12214
11357 12259
11251 12161
11242 12166
11082 12034
11212 12162
11138 12071
11074 12019
11228 12158
11449 12424
4/00 11376 12350
11302 12286
11583 12612
11732 12787
11915 12984
11841 12917
11969 13058
12053 13156
12432 13481
12516 13615
12544 13658
12648 13781
4/01 12420 13631
12559 13778
12649 13870
12849 14076
13122 14308
13046 14260
13223 14429
13049 14308
12866 14173
13101 14418
13225 14592
12935 14306
4/02 13215 14586
13327 14674
13474 14830
13657 15020
13829 15201
14160 15534
13867 15276
13743 15213
14114 15534
14017 15494
14260 15711
14240 15720
4/03 14363 15824
14765 16195
14655 16126
13980 15562
14118 15678
14541 16139
14446 16057
14620 16225
14775 16359
14877 16453
15113 16701
15082 16642
4/04 14702 16248
14645 16189
14695 16248
14909 16462
15233 16792
15325 16881
15471 17026
15342 16886
15547 17092
15710 17252
15647 17194
15531 17086
4/05 15806 17355
15944 17478
16050 17587
15986 17507
16164 17684
16044 17565
15951 17458
16055 17542
16195 17693
16236 17740
16350 17860
16259 17736
4/06 16254 17730
</Table>
<Table>
--- TAX-FREE NATIONAL FUND --- LEHMAN BROTHERS MUNICIPAL BOND INDEX
$9,550 starting value $10,000 starting value
$16,254 ending value $17,730 ending value
</Table>
LEHMAN BROTHERS MUNICIPAL BOND INDEX is an unmanaged index of municipal bonds
with maturities greater than two years.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION 1 5 10 SINCE
DATE YEAR YEAR YEAR INCEPTION
- ------------------------------------------------------------------
National A# 6/2/1986 2.84% 5.53% 5.46% 6.36%
- ------------------------------------------------------------------
National A## 6/2/1986 -1.79% 4.56% 4.98% 6.12%
- ------------------------------------------------------------------
National B# 11/14/1994 2.09% 4.67% NA* NA*
- ------------------------------------------------------------------
National B## 11/14/1994 -2.82% 4.34% NA* NA*
- ------------------------------------------------------------------
National C# 11/14/1994 2.17% 4.74% 4.53% 5.29%
- ------------------------------------------------------------------
National C## 11/14/1994 1.19% 4.74% 4.53% 5.29%
- ------------------------------------------------------------------
National E# 6/2/1986 2.94% 5.68% 5.54% 6.40%
- ------------------------------------------------------------------
National E## 6/2/1986 -1.69% 4.72% 5.05% 6.16%
- ------------------------------------------------------------------
National H# 11/14/1994 2.08% 4.73% NA* NA*
- ------------------------------------------------------------------
National H## 11/14/1994 -1.85% 4.39% NA* NA*
- ------------------------------------------------------------------
National L# 11/14/1994 2.88% 5.47% 5.32% 6.07%
- ------------------------------------------------------------------
National L## 11/14/1994 -1.75% 4.50% 4.83% 5.65%
- ------------------------------------------------------------------
National M# 11/14/1994 2.08% 4.73% NA* NA*
- ------------------------------------------------------------------
National M## 11/14/1994 -1.85% 4.40% NA* NA*
- ------------------------------------------------------------------
National N# 11/14/1994 2.09% 4.72% 4.52% 5.28%
- ------------------------------------------------------------------
National N## 11/14/1994 1.10% 4.72% 4.52% 5.28%
- ------------------------------------------------------------------
National Y# 2/19/2002 3.00% NA NA 5.39%
- ------------------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Tax-Free National
Fund Class A had a total return, before sales charges, of 1.90% versus the
returns of 1.60% for the Lipper General Municipal Debt Funds Index and 1.56% for
the Lehman Brothers Municipal Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates several times
in response to its concerns that monetary policy had been too accommodative and
that strong growth in the U.S. and global economies would lead to higher
inflation. Despite the period of uncertainty after Hurricanes Katrina and Rita,
long-term bond yields remained relatively stable and ended the year only
modestly higher than where they started. This relative stability was in part due
to demand from domestic and foreign investors. So far this year, investor
confidence about prospects for the U.S. economy continues to grow. Overseas
economies are also demonstrating greater strength, further contributing to an
improvement in sentiment among U.S. businesses. Furthermore, many commodities
reached historical highs and the price of oil again approached record levels.
Thus, in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose in March and April. As a result, these
rising rates caused most investment grade fixed-rate bonds to decline in value.
As absolute yields have risen, demand for municipal securities has increased,
whereas the supply of new municipal issuance declined. This technical imbalance
of "greater demand vs. diminished issuance" has been the primary driver of
municipal tax-exempt bonds' superior performance relative to taxable fixed
income. Long maturity municipal bonds have represented steady value while
shorter maturity municipal bonds have seen their value decrease in response to
the Federal Reserve's rate increases. Since the end of last year, the issuance
of high yield tax-exempt debt has been less than robust and thus the performance
of this particular sector of the tax-exempt market has been especially strong.
83
- --------------------------------------------------------------------------------
The Fund's performance is sensitive to changes in interest rates. As interest
rates rose, the price of fixed rate bonds generally declined in response.
Through most of the period we have allowed the Fund's duration to shorten, and
thereby reduce the Fund's sensitivity to changes in interest rates. Overall,
Fund performance has primarily been driven by two factors, curve positioning and
security selection. Fund exposure to the long portion of the interest rate curve
provided an incremental benefit as demand for this maturity has been especially
strong. Fund holdings of longer maturity securities (25+ years) have performed
well. However, these securities are also more susceptible to price volatility
and when the market for fixed income product has produced negative performance
(March 2006), these long maturity bonds have produced even greater under
performance. National economic soundness has allowed credit fundamentals for
lower quality credits to improve. Fund performance continues to benefit from an
exposure to triple-B and double-B and single-B rated securities. The Fund has
benefited from positive demographic trends in the "Education" and "Health Care"
sectors as well as an orderly slowing of the housing market in the "Special Tax"
sector. These sectors represent large exposures within the Fund. Our earlier
purchases of bonds issued in these sectors have performed to expectation
providing both incremental yield and, as the underlying credits have improved,
positive total return. The Fund's exposure to the Commonwealth of Puerto Rico
had been a hindrance on performance. We opted to reduce Fund exposure to this
credit, until a long-term solution to the Commonwealth's financial crisis has
been crafted. We are currently very cautious on high yield credits and believe
better opportunities exist in higher rated investment grade credits.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates 3.75% since June 2004. Statements by Fed officials
indicate that there is a general consensus that policy is at or very near
neutral. Policy going forward is highly "data dependent" which will likely lead
to some increase in market volatility as market participants try to anticipate
the Fed's next move. At this point, policy is well beyond that stage where rate
hike were automatic regardless of the incoming data. Given recent economic data
as of this discussion on April 30, 2006, the market expectation is almost
certain that the Fed will raise rates again at its meeting in May, and could
also raise rates during the summer. Subsequently, the Fed did, indeed, increase
the Fed Funds rate to 5.00% on May 10, 2006. The economy appears to be expanding
solidly, as demonstrated by the strength of the job sector and increases in
consumer confidence. Business spending remains strong and firms continue to
utilize their excess capacity. While the housing sales appears to be slowing,
investors are split as to whether the housing market will experience a
traditional boom and bust cycle, or will stabilize at a slower, more sustainable
pace. The outcome, which will take some time to play out, has significant
implications upon consumer spending in the future. For now, inflation
expectations appear contained as core (without food and fuel) measures of
inflation are well behaved and the Fed seems intent upon preventing any
resurgence in inflation.
Thus far in 2006, municipal issuance is down approximately 25% compared to last
year. The forward calendar of issuance is similarly diminished. We see no change
in technical conditions and therefore expect municipal tax-exempt securities to
outperform most other fixed income taxable alternatives. Credit fundamentals for
most investment grade municipal bond issuers remain favorable. Driven by a
robust economy, we expect current income, sales and property tax-receipts to
provide a substantial buffer against a decline in national economic performance.
Our outlook for high yield credit is more cautious. A cooling of the national
economy, in particularly the housing market, could hold negative consequences
for a number of credits in the municipal high yield arena. Currently, we believe
the investor is not being fairly compensated in additional yield for the
incremental risk assumed when purchasing lower rated high yield securities. We
are especially cautious on lower quality credits with any link to housing
construction, such as Special Tax debt. Going forward, we expect to be very
selective in our purchases of lower quality debt. As such, we continue to prefer
higher quality bonds that will likely outperform when supply returns.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 13.7%
- -------------------------------------------------------------------
AA 11.5
- -------------------------------------------------------------------
A 11.8
- -------------------------------------------------------------------
BBB 36.9
- -------------------------------------------------------------------
BB 1.8
- -------------------------------------------------------------------
B 0.5
- -------------------------------------------------------------------
NR 23.8
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
84
- --------------------------------------------------------------------------------
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 1.4%
- -------------------------------------------------------------------
General Obligations 13.3
- -------------------------------------------------------------------
Health Care/Services 14.4
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 14.4
- -------------------------------------------------------------------
Housing (HFA's, etc.) 4.7
- -------------------------------------------------------------------
Industrial 2.1
- -------------------------------------------------------------------
Land Development 3.3
- -------------------------------------------------------------------
Miscellaneous 18.7
- -------------------------------------------------------------------
Pollution Control 2.9
- -------------------------------------------------------------------
Public Facilities 7.2
- -------------------------------------------------------------------
Refunded with U.S. Gov't Securities 1.2
- -------------------------------------------------------------------
Transportation 1.8
- -------------------------------------------------------------------
Utilities -- Combined 0.7
- -------------------------------------------------------------------
Utilities -- Electric 3.3
- -------------------------------------------------------------------
Utilities -- Water and Sewer 4.4
- -------------------------------------------------------------------
Short-Term Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 1.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DISTRIBUTION BY STATE
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
STATE NET ASSETS
- -------------------------------------------------------------------
Alabama 1.7%
- -------------------------------------------------------------------
Alaska 0.9
- -------------------------------------------------------------------
Arizona 4.7
- -------------------------------------------------------------------
California 14.8
- -------------------------------------------------------------------
Colorado 0.9
- -------------------------------------------------------------------
Florida 3.3
- -------------------------------------------------------------------
Georgia 4.5
- -------------------------------------------------------------------
Idaho 0.9
- -------------------------------------------------------------------
Illinois 6.1
- -------------------------------------------------------------------
Kansas 2.4
- -------------------------------------------------------------------
Kentucky 1.0
- -------------------------------------------------------------------
Louisiana 0.4
- -------------------------------------------------------------------
Maryland 1.0
- -------------------------------------------------------------------
Massachusetts 1.8
- -------------------------------------------------------------------
Michigan 4.3
- -------------------------------------------------------------------
Minnesota 3.9
- -------------------------------------------------------------------
Mississippi 0.3
- -------------------------------------------------------------------
Missouri 0.5
- -------------------------------------------------------------------
Nevada 2.3
- -------------------------------------------------------------------
New Hampshire 0.7
- -------------------------------------------------------------------
New Jersey 3.7
- -------------------------------------------------------------------
New Mexico 0.6
- -------------------------------------------------------------------
New York 6.4
- -------------------------------------------------------------------
North Carolina 0.9
- -------------------------------------------------------------------
Ohio 1.6
- -------------------------------------------------------------------
Other U.S. Territories 1.7
- -------------------------------------------------------------------
Pennsylvania 5.3
- -------------------------------------------------------------------
Rhode Island 5.7
- -------------------------------------------------------------------
South Carolina 1.6
- -------------------------------------------------------------------
Tennessee 2.2
- -------------------------------------------------------------------
Texas 2.2
- -------------------------------------------------------------------
Utah 0.5
- -------------------------------------------------------------------
Virginia 2.7
- -------------------------------------------------------------------
Washington 0.6
- -------------------------------------------------------------------
Wisconsin 1.7
- -------------------------------------------------------------------
Short-Term Investments 4.7
- -------------------------------------------------------------------
Other Assets & Liabilities 1.5
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
85
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 AND NEW YORK CITY INCOME TAX.
PERFORMANCE OVERVIEW(2) 10/31/02 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
LEHMAN BROTHERS NEW YORK MUNICIPAL
TAX-FREE NEW YORK FUND BOND INDEX
---------------------- ----------------------------------
10/31/02 9550 10000
9473 9945
9733 10161
9661 10138
9832 10275
9850 10285
4/03 9937 10350
10257 10584
10169 10542
9644 10185
9753 10267
10098 10563
10031 10515
10171 10622
10320 10698
10385 10758
10577 10915
10538 10874
4/04 10225 10627
10165 10588
10197 10621
10351 10761
10589 10970
10672 11029
10785 11121
10667 11028
10822 11155
10937 11252
10893 11220
10819 11147
4/05 10987 11314
11074 11392
11170 11460
11128 11406
11235 11518
11149 11441
11073 11377
11117 11424
11216 11525
11240 11554
11340 11637
11258 11559
4/06 11250 11554
</Table>
<Table>
--- TAX-FREE NEW YORK FUND --- LEHMAN BROTHERS NEW YORK MUNICIPAL
$9,550 starting value BOND INDEX
$11,250 ending value $10,000 starting value
$11,554 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR INCEPTION
- --------------------------------------------------
New York A# 10/31/2002 2.40% 4.80%
- --------------------------------------------------
New York A## 10/31/2002 -2.21% 3.43%
- --------------------------------------------------
New York B# 10/31/2002 1.63% 4.04%
- --------------------------------------------------
New York B## 10/31/2002 -3.29% 3.26%
- --------------------------------------------------
New York C# 10/31/2002 1.63% 4.04%
- --------------------------------------------------
New York C## 10/31/2002 0.65% 4.04%
- --------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Tax-Free New York
Fund Class A had a total return, before sales charges, of 1.61% versus the
returns of 1.60% for the Lipper New York Municipal Debt Funds Index and 1.56%
for the Lehman Brothers New York Municipal Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates several times
in response to its concerns that monetary policy had been too accommodative and
that strong growth in the U.S. and global economies would lead to higher
inflation. Despite the period of uncertainty after Hurricanes Katrina and Rita,
long-term bond yields remained relatively stable and ended the year only
modestly higher than where they started. This relative stability was in part due
to demand from domestic and foreign investors. So far this year, investor
confidence about prospects for the U.S. economy continues to grow. Overseas
economies are also demonstrating greater strength, contributing further to an
improvement in sentiment among U.S. businesses. Furthermore, many commodities
reached historical highs and the price of oil again approached record levels.
Thus, in response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose in March and April. As a result, these
rising rates caused most investment grade fixed-rate bonds to decline in value.
As absolute yields have risen, demand for municipal securities has increased,
whereas the supply of new municipal issuance declined. This technical imbalance
of "greater demand vs. diminished issuance" has been the primary driver of
municipal tax-exempt bonds' superior performance relative to taxable fixed
income. Long maturity municipal bonds have represented steady value while
shorter maturity municipal bonds have seen their value decrease in response to
the Federal Reserve's rate increases. Since the end of last year, the issuance
of high yield tax-exempt debt has been less than robust and thus the performance
of this particular sector of the tax-exempt market has been especially strong.
The Fund's performance is sensitive to changes in interest rates. As interest
rates rose, the price of fixed rate bonds generally declined in response. The
Fund's shorter duration allowed us to take advantage of the steepness of the
tax-exempt yield curve by purchasing longer maturity securities, for incremental
yield, and thereby increasing the Fund's duration. Overall, Fund performance has
primarily been driven by two factors, curve positioning and security selection.
Fund exposure to the steeper intermediate portion of the interest rate curve
provided an incremental benefit as maturities shortened with time thereby
"rolling down the
86
- --------------------------------------------------------------------------------
curve" and providing positive performance. Additionally, Fund holdings of longer
maturity securities (20+ years) have performed well. However, these securities
are also more susceptible to price volatility and when the market for fixed
income product has produced negative performance (March 2006), these long
maturity bonds have produced even greater under performance. The economy within
the State of New York continues to demonstrate strength. The State's economic
soundness has allowed credit fundamentals for lower quality credits to improve.
Fund performance continues to benefit from an exposure to triple-B and double-B
rated securities. Additionally, the Fund has benefited from positive demographic
trends in the "Education" sector. This sector represents a large exposure within
the Fund. Our earlier purchases of bonds issued in this sector have performed to
expectation providing both incremental yield and, as the underlying credits have
improved, positive total return. The Fund's exposure to the Commonwealth of
Puerto Rico had been a hindrance on performance. We opted to reduce Fund
exposure to this credit, until a long-term solution to the Commonwealth's
financial crisis has been crafted. We are currently very cautious on high yield
credits and believe better opportunities exist in higher rated investment grade
credits.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates 3.75% since June 2004. Statements by Fed officials
indicate that there is a general consensus that policy is at or very near
neutral. Policy going forward is highly "data dependent" which will likely lead
to some increase in market volatility as market participants try to anticipate
the Fed's next move. At this point, policy is well beyond that stage where rate
hike were automatic regardless of the incoming data. Given recent economic data
as of this discussion on April 30, 2006, the market expectation is almost
certain that the Fed will raise rates again at its meeting in May, and could
also raise rates during the summer. Subsequently, the Fed did, indeed, increase
the Fed Funds rate to 5.00% on May 10, 2006. The economy appears to be expanding
solidly, as demonstrated by the strength of the job sector and increases in
consumer confidence. Business spending remains strong and firms continue to
utilize their excess capacity. While the housing sales appears to be slowing,
investors are split as to whether the housing market will experience a
traditional boom and bust cycle, or will stabilize at a slower, more sustainable
pace. The outcome, which will take some time to play out, has significant
implications upon consumer spending in the future. For now, inflation
expectations appear contained as core (without food and fuel) measures of
inflation are well behaved and the Fed seems intent upon preventing any
resurgence in inflation.
Thus far in 2006, municipal issuance is down approximately 25% compared to last
year. The forward calendar of issuance is similarly diminished. We see no change
in technical conditions and therefore expect municipal tax-exempt securities to
outperform most other fixed income taxable alternatives. Credit fundamentals for
most investment grade municipal bond issuers remain favorable. Driven by a
robust economy, we expect current income, sales and property tax-receipts to
provide a substantial buffer against a decline in national economic performance.
Our outlook for high yield credit is more cautious. A cooling of the national
economy, in particularly the housing market, could hold negative consequences
for a number of credits in the municipal high yield arena. Currently, we believe
the investor is not being fairly compensated in additional yield for the
incremental risk assumed when purchasing lower rated high yield securities. We
are especially cautious on lower quality credits with any link to housing
construction, such as Special Tax debt. Going forward, we expect to be very
selective in our purchases of lower quality debt. As such, we continue to prefer
higher quality bonds that will likely outperform when supply returns.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 20.6%
- -------------------------------------------------------------------
AA 27.8
- -------------------------------------------------------------------
A 23.4
- -------------------------------------------------------------------
BBB 21.7
- -------------------------------------------------------------------
BB 2.1
- -------------------------------------------------------------------
NR 4.4
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Airport Revenues 2.4%
- -------------------------------------------------------------------
General Obligations 18.7
- -------------------------------------------------------------------
Health Care/Services 9.9
- -------------------------------------------------------------------
Higher Education (Univ., Dorms, etc.) 27.9
- -------------------------------------------------------------------
Housing (HFA's, etc.) 5.5
- -------------------------------------------------------------------
Industrial 5.3
- -------------------------------------------------------------------
Land Development 4.5
- -------------------------------------------------------------------
Miscellaneous 7.5
- -------------------------------------------------------------------
Pollution Control 3.0
- -------------------------------------------------------------------
Public Facilities 3.4
- -------------------------------------------------------------------
Transportation 3.0
- -------------------------------------------------------------------
Utilities -- Electric 1.7
- -------------------------------------------------------------------
Utilities -- Water and Sewer 2.9
- -------------------------------------------------------------------
Short-Term Investments 4.0
- -------------------------------------------------------------------
Other Assets & Liabilities 0.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
87
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 - 4/30/06
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 10037
9563 10020
9751 10194
9959 10421
10167 10599
10097 10500
10153 10533
10187 10559
10054 10442
4/97 10206 10599
10316 10699
10464 10827
10812 11119
10695 11024
10866 11187
10961 11350
11035 11402
11187 11517
11339 11665
11332 11655
11380 11695
4/98 11420 11756
11533 11867
11618 11968
11618 11993
11693 12189
12007 12474
11871 12408
11995 12479
12026 12516
12121 12605
11816 12384
11876 12452
4/99 11938 12492
11767 12382
11696 12343
11654 12291
11630 12285
11738 12427
11764 12473
11769 12472
11700 12412
11671 12371
11811 12521
11967 12686
4/00 11948 12649
11941 12643
12212 12906
12293 13023
12433 13212
12504 13296
12538 13383
12733 13603
13017 13856
13302 14082
13380 14204
13398 14275
4/01 13379 14215
13452 14300
13431 14355
13741 14676
13894 14845
13929 15017
14163 15331
14086 15120
14022 15023
14077 15145
14131 15291
13911 15038
4/02 14179 15329
14328 15459
14305 15592
14336 15781
14611 16048
14747 16308
14800 16233
14959 16228
15324 16564
15451 16579
15686 16807
15707 16795
4/03 15907 16933
16246 17249
16232 17214
15742 16636
15851 16746
16277 17189
16157 17029
16215 17070
16419 17244
16547 17383
16673 17571
16767 17702
4/04 16360 17242
16301 17173
16366 17270
16482 17441
16767 17774
16847 17822
16981 17971
16922 17828
17065 17992
17145 18105
17080 17998
16965 17906
4/05 17166 18148
17307 18344
17430 18444
17301 18277
17486 18511
17286 18320
17150 18175
17218 18256
17358 18429
17367 18430
17404 18491
17240 18310
4/06 17223 18277
</Table>
<Table>
--- TOTAL RETURN BOND FUND --- LEHMAN BROTHERS U.S. AGGREGATE BOND INDEX
$9,550 starting value $10,000 starting value
$17,223 ending value $18,277 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- --------------------------------------------------------------
Total Return A# 7/22/1996 0.33% 5.18% 6.22%
- --------------------------------------------------------------
Total Return A## 7/22/1996 -4.18% 4.22% 5.72%
- --------------------------------------------------------------
Total Return B# 7/22/1996 -0.42% 4.43% NA*
- --------------------------------------------------------------
Total Return B## 7/22/1996 -5.22% 4.09% NA*
- --------------------------------------------------------------
Total Return C# 7/22/1996 -0.43% 4.51% 5.49%
- --------------------------------------------------------------
Total Return C## 7/22/1996 -1.39% 4.51% 5.49%
- --------------------------------------------------------------
Total Return Y# 7/22/1996 0.80% 5.69% 6.71%
- --------------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Total Return Fund
Class A had a total return, before sales charges, of 0.43% versus the returns of
0.60% for the Lipper Intermediate Investment Debt Funds Average and 0.56% for
the Lehman Brothers Aggregate Bond Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve raised short-term interest rates at each of its
meetings in response to concerns that monetary policy had been too accommodative
and that strong growth in the U.S. and global economies would lead to higher
inflation. Despite the period of uncertainty after Hurricanes Katrina and Rita,
long-term bond yields remained relatively stable and ended the year only
modestly higher than where they started. This relative stability was in part due
to demand from foreign investors. The yield curve continued to flatten in this
environment throughout 2005, inverting early in 2006. Economic data during the
first quarter of 2006 was consistent with a robust global economy. The
synchronized nature of this growth across the major global economies has not
been seen for some time. Many commodities reached historical highs, and the
price of oil again approached record highs. Therefore, in response to the
outlook for a strong economy and potentially higher inflation, long-term
interest rates rose later in the first quarter of 2006. As a result, rising
rates caused most investment grade fixed-rate bonds to decline in value.
However, the credit-sensitive sectors generally outperformed Treasuries of
similar maturities, reflecting expectations for continued economic growth and
growing capacity to service debt on a timely basis. U.S. High Yield and Emerging
Market Debt were the strongest performing sectors for both the six-month period
ended April 30, 2006 and for the first four months of 2006.
The Fund has been positioned defensively against an outlook of rising interest
rates. This positioning was a major driver of benchmark relative return in
recent months. Although rising rates detracted from the Fund's return on an
absolute basis, the Fund's shorter-than-benchmark duration added to performance
on a relative basis. The Fund's exposure to the yield curve favored a continued
flattening and therefore the steeper conditions in the first quarter hurt
performance marginally. The Fund benefited from its exposure to the out-of-index
U.S. High Yield Bond and U.S. Dollar Emerging Markets Debt sectors. These
traditionally risky sectors were the strongest performing bond groups of the
six-month period. Since the Fund allocated away from Treasuries to invest in
other sectors, the Fund's underweight to Treasuries was another contributor to
relative performance. Overall, selection at the individual security level added
modestly to performance. Security level underperformance in the Mortgage-Backed
and
88
- --------------------------------------------------------------------------------
Asset-Backed sectors was offset by strong selection within the investment grade
corporate sector. During the period, the average credit quality of the portfolio
was increased and exposure to investment grade corporates reduced due to
concerns regarding "event risks," such as leveraged buyouts and
recapitalizations.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raised rates 3.75% since June 2004. Statements by Fed officials
indicate that there is a general consensus that policy is at or very near
neutral. Policy going forward is highly "data dependent," which will likely lead
to an increase in volatility as market participants try to anticipate the Fed's
next move. As of this discussion on April 30, 2006, recent economic data has
convinced the market of a 25 basis point increase in May with continuing
tightening possible in the future. Subsequently, the Fed did, indeed, increase
the Fed Funds rate to 5.00% on May 10, 2006.
The economy appears to be expanding solidly, as demonstrated by the strength of
the job sector and increases in consumer confidence. Business spending remains
strong and firms continue to utilize their excess capacity. While housing sales
appear to be slowing, investors are split as to whether the housing market will
experience a traditional boom and bust cycle, or will stabilize at a slower,
more sustainable pace. The outcome, which will take some time to play out, has
significant implications for consumer spending in the future. The fundamental
backdrop for corporate bonds remains positive, but event risk and fading
international sponsorship will challenge the sector in the coming months. The
Fund will remain defensive in investment grade corporate bonds until yields
adequately reflect the sector's risks. Robust global economic strength suggests
that more value exists in the high yield and emerging market sectors. The Fund
will maintain exposure to these sectors absent a meaningful change in valuations
or outlook.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 69.9%
- -------------------------------------------------------------------
AA 1.1
- -------------------------------------------------------------------
A 8.8
- -------------------------------------------------------------------
BBB 13.4
- -------------------------------------------------------------------
BB 4.1
- -------------------------------------------------------------------
B 2.7
- -------------------------------------------------------------------
NR 0.0
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Asset & Commercial Mortgage Backed Securities 0.4
- -------------------------------------------------------------------
Basic Materials 2.0
- -------------------------------------------------------------------
Capital Goods 0.5
- -------------------------------------------------------------------
Consumer Cyclical 3.2
- -------------------------------------------------------------------
Consumer Staples 0.5
- -------------------------------------------------------------------
Energy 2.4
- -------------------------------------------------------------------
Finance 21.0
- -------------------------------------------------------------------
Foreign Governments 5.2
- -------------------------------------------------------------------
General Obligations 0.1
- -------------------------------------------------------------------
Health Care 0.8
- -------------------------------------------------------------------
Services 2.8
- -------------------------------------------------------------------
Technology 3.6
- -------------------------------------------------------------------
Transportation 0.5
- -------------------------------------------------------------------
U.S. Government Agencies 30.8
- -------------------------------------------------------------------
U.S. Government Securities 16.6
- -------------------------------------------------------------------
Utilities 3.1
- -------------------------------------------------------------------
Short-Term Investments 37.8
- -------------------------------------------------------------------
Other Assets & Liabilities -31.3
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
89
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) 4/30/96 - 4/30/06
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
------------------------------- --------------------------------
4/30/96 9550 10000
9537 9983
9653 10112
9671 10137
9657 10114
9829 10282
10025 10509
10189 10691
10098 10582
10129 10594
10149 10609
10034 10496
4/97 10179 10648
10269 10740
10381 10860
10645 11168
10558 11058
10715 11224
10862 11418
10891 11477
10992 11597
11141 11770
11120 11738
11158 11772
4/98 11197 11825
11308 11946
11420 12082
11435 12101
11671 12415
11958 12750
11848 12707
11901 12711
11928 12739
11978 12813
11739 12509
11802 12558
4/99 11827 12586
11714 12476
11663 12450
11613 12432
11588 12432
11733 12533
11749 12553
11753 12536
11691 12455
11643 12472
11769 12650
11910 12872
4/00 11890 12836
11870 12844
12081 13073
12183 13200
12355 13395
12460 13433
12553 13562
12772 13829
13035 14104
13186 14246
13323 14408
13390 14459
4/01 13312 14311
13363 14358
13381 14424
13682 14771
13826 14954
14069 15214
14307 15607
14100 15257
14011 15124
14086 15222
14256 15363
14064 15029
4/02 14325 15387
14435 15479
14559 15695
14815 16040
15009 16358
15264 16741
15213 16607
15128 16464
15527 16863
15441 16820
15680 17092
15640 17043
4/03 15733 17122
16045 17567
15898 17475
15208 16752
15262 16846
15699 17336
15527 17089
15565 17109
15665 17260
15765 17403
15933 17611
16053 17767
4/04 15684 17232
15561 17168
15651 17238
15808 17398
16048 17737
16039 17773
16160 17915
16030 17702
16169 17860
16238 17972
16140 17845
16114 17786
4/05 16327 18071
16458 18281
16522 18384
16358 18162
16570 18430
16418 18212
16288 18083
16320 18165
16457 18334
16450 18302
16494 18331
16338 18166
4/06 16289 18116
</Table>
<Table>
--- U.S. GOVERNMENT SECURITIES FUND --- LEHMAN BROTHERS U.S. GOV'T INDEX
$9,550 starting value $10,000 starting value
$16,289 ending value $18,116 ending value
</Table>
LEHMAN BROTHERS U.S. GOVERNMENT INDEX is an unmanaged index of government bonds
with maturities of one year or more.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- --------------------------------------------------------------------
U.S. Gov A# 2/28/1973 -0.23% 4.12% 5.48% 7.45%
- --------------------------------------------------------------------
U.S. Gov A## 2/28/1973 -4.72% 3.16% 5.00% 7.30%
- --------------------------------------------------------------------
U.S. Gov B# 11/14/1994 -0.98% 3.30% NA* NA*
- --------------------------------------------------------------------
U.S. Gov B## 11/14/1994 -5.75% 2.95% NA* NA*
- --------------------------------------------------------------------
U.S. Gov C# 11/14/1994 -0.98% 3.30% 4.57% 5.04%
- --------------------------------------------------------------------
U.S. Gov C## 11/14/1994 -1.93% 3.30% 4.57% 5.04%
- --------------------------------------------------------------------
U.S. Gov E# 2/28/1973 0.10% 4.41% 5.63% 7.50%
- --------------------------------------------------------------------
U.S. Gov E## 2/28/1973 -4.41% 3.46% 5.15% 7.35%
- --------------------------------------------------------------------
U.S. Gov H# 11/14/1994 -0.88% 3.37% NA* NA*
- --------------------------------------------------------------------
U.S. Gov H## 11/14/1994 -4.70% 3.02% NA* NA*
- --------------------------------------------------------------------
U.S. Gov L# 11/14/1994 -0.15% 4.15% 5.37% 5.85%
- --------------------------------------------------------------------
U.S. Gov L## 11/14/1994 -4.65% 3.19% 4.88% 5.42%
- --------------------------------------------------------------------
U.S. Gov M# 11/14/1994 -0.99% 3.36% NA* NA*
- --------------------------------------------------------------------
U.S. Gov M## 11/14/1994 -4.80% 3.02% NA* NA*
- --------------------------------------------------------------------
U.S. Gov N# 11/14/1994 -0.99% 3.34% 4.59% 5.06%
- --------------------------------------------------------------------
U.S. Gov N## 11/14/1994 -1.94% 3.34% 4.59% 5.06%
- --------------------------------------------------------------------
U.S. Gov Y# 2/19/2002 0.53% NA NA 3.79%
- --------------------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford U.S. Government
Securities Fund Class A had a total return, before sales charges, of 0.01%
versus the return of -0.38% for the Lipper General U.S. Government Funds Average
and 0.18% for the Lehman Brothers U.S. Government Index.
WHY DID THE FUND PERFORM THIS WAY?
During 2005, the Federal Reserve (the Fed) raised short-term interest rates at
each of its meetings in response to its concerns that monetary policy had been
too accommodative and that strong growth in the U.S. and global economies would
lead to higher inflation. Despite the period of uncertainty after Hurricanes
Katrina and Rita, long-term bond yields remained relatively stable and ended
2005 only modestly higher than where they started. This relative stability was
in part due to demand from domestic and foreign investors. The result was a
flatter yield curve in which investors did not receive substantially higher
rates in return for longer holding periods. Going into the first quarter of
2006, the curve actually became slightly inverted (short-term yields higher than
long-term yields) as the Fed continued to raise the Fed Funds rate. So far this
year, investor confidence about prospects for the U.S. economy continues to
grow. Overseas economies are also demonstrating greater strength, contributing
further to an improvement in sentiment among U.S. businesses. Furthermore, many
commodities reached historical highs and the price of oil again approached
record levels.
In response to the outlook for a strong economy and potentially higher
inflation, long-term interest rates rose in March and April. As a result, these
rising rates caused most fixed-rate bonds to decline in value. However, the
credit-sensitive sectors generally outperformed Treasuries of similar
maturities, reflecting expectations for continued economic growth and growing
capacity to service debt on a timely basis. Accordingly, investors had a greater
tolerance for risk and sought higher yields in the spread sectors.
90
- --------------------------------------------------------------------------------
Despite recent accounting irregularities among the Governmentally Sponsored
Entities (GSE's) and a lack of published financials, the Agency sector
outperformed Treasuries for the quarter. With their high levels of risk and
therefore even higher premiums, the Mortgage-Backed Securities (MBS) and
Asset-Backed Securities (ABS) sectors outperformed both the Treasury and Agency
sectors. In particular, MBS performed strongly in the first quarter of the year
after lagging for most of the last half of 2005. In March, MBS gave back some of
its gains as investors took profits.
One of the largest impacts upon the Fund's performance stemmed from its
sensitivity to changes in interest rates. Generally, fixed rate bonds decline in
value as interest rates rise, because the lower yielding bonds become less
attractive when compared to bonds that pay higher rates. Purchasers would rather
purchase the new higher yielding bonds, so sellers of the existing, lower
yielding bonds must discount them to compensate for their lower interest rates.
Although the rising rates detracted from the Fund's return on an absolute basis,
the Fund was appropriately positioned with a duration lower than the benchmark
through most of the six month period. However, due to the challenges and
complexities of calculated the attribution of fixed income portfolios, our
mathematical model shows duration to be the key detractor from performance for
the period. Later in the six month period, most of the Fund's Treasury trades
were focused upon managing duration and reducing curve flattening positions,
especially in the 2 to 10 year part of yield curve. Overall, the Fund's short of
benchmark duration and its barbell (greater exposure to short- and long-term
securities, less to intermediates) maturity strategies were beneficial as the
yield curve flattened during the first quarter and long-term interest rates rose
in March and April. Trading was also active in the Agency and MBS sectors, as
value opportunities were identified relative to Treasurys. Overall, issue
selection was a positive contributor to relative performance, with the strongest
and security selection occurring within the Agencies sector. The Fund's sector
allocations were shown to be the largest contributor to relative performance,
with most of those benefits being attributed to the overweight to the MBS
sector.
WHAT IS THE OUTLOOK?
The market expected that the Fed Funds Target Rate would be hiked by another
0.25% at the end of March. The Fed did not disappoint and raised the rate to
4.75%, having raise rates 15 times for a total 3.75% since June 2004. Statements
by Fed officials indicate that there is a general consensus that policy is at or
very near neutral. Policy going forward is highly "data dependent" which will
likely lead to some increase in market volatility as market participants try to
anticipate the Fed's next move. At this point, policy is well beyond that stage
where rate hikes were automatic regardless of the incoming data. Given recent
economic data as of this discussion on April 30, 2006, the market expectation is
almost certain that the Fed will raise rates again at its meeting in May, and
could also raise rates during the summer. Subsequently, the Fed did, indeed,
increase the Fed Funds rate to 5.00% on May 10, 2006. Due to this uncertainty,
we will be monitoring the data and the short duration position very closely.
Currently, the Fund is defensively positioned for higher rates, increased
volatility, and a widening of MBS spreads (the difference between MBS and
Treasury Yields). The Fund has modestly decreased its allocation to CMBS in
favor of Treasuries, given that the sector's narrowing spreads since December
indicate the CMBS has become more expensive on a relative basis.
DISTRIBUTION BY CREDIT QUALITY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
RATING HOLDINGS
- -------------------------------------------------------------------
AAA 100.0%
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
DISTRIBUTION BY CATEGORY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
CATEGORY NAME NET ASSETS
- -------------------------------------------------------------------
Asset and Commercial Mortgage Backed Securities 6.0%
- -------------------------------------------------------------------
Federal Home Loan Mortgage Corporation 22.8
- -------------------------------------------------------------------
Federal National Mortgage Association 45.6
- -------------------------------------------------------------------
Government National Mortgage Association 2.8
- -------------------------------------------------------------------
Other Direct Federal Obligations 7.6
- -------------------------------------------------------------------
U.S. Treasury Securities 14.5
- -------------------------------------------------------------------
Short-Term Investments 8.6
- -------------------------------------------------------------------
Other Assets & Liabilities -7.9
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
91
The Hartford Value Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS LONG-TERM TOTAL RETURN.
PERFORMANCE OVERVIEW(2) 4/30/01 - 4/30/06
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
8552 8903
8524 8826
9062 9339
9319 9559
9157 9486
9119 9501
9319 9950
4/02 8891 9609
8920 9657
8388 9103
7694 8256
7552 8319
6716 7394
7210 7942
7609 8442
7160 8076
6912 7881
6806 7670
6854 7683
4/03 7419 8359
7907 8899
7974 9010
8041 9144
8204 9286
8079 9196
8539 9759
8673 9891
9155 10501
9222 10685
9338 10914
9242 10819
4/04 9087 10554
9222 10662
9396 10914
9049 10760
9107 10913
9213 11082
9367 11267
9724 11836
10057 12233
9883 12016
10280 12414
10057 12243
4/05 9951 12024
10125 12314
10202 12448
10561 12809
10541 12753
10706 12932
10444 12603
10774 13018
10813 13096
11222 13604
11359 13687
11485 13873
4/06 11768 14225
</Table>
<Table>
--- VALUE FUND --- RUSSELL 1000 VALUE INDEX
$9,450 starting value $10,000 starting value
$11,768 ending value $14,225 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.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR INCEPTION
- -------------------------------------------------------
Value A# 4/30/2001 18.26% 4.48% 4.48%
- -------------------------------------------------------
Value A## 4/30/2001 11.76% 3.31% 3.31%
- -------------------------------------------------------
Value B# 4/30/2001 17.44% 3.72% NA*
- -------------------------------------------------------
Value B## 4/30/2001 12.44% 3.37% NA*
- -------------------------------------------------------
Value C# 4/30/2001 17.32% 3.72% 3.72%
- -------------------------------------------------------
Value C## 4/30/2001 16.32% 3.72% 3.72%
- -------------------------------------------------------
Value Y# 4/30/2001 18.86% 4.82% 4.82%
- -------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Value Fund Class A,
before sales charge, returned 12.67%, slightly trailing the Russell 1000 Value
Index return of 12.87%, but outperforming the Lipper Large Cap Value peer group
average return of 11.05%.
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
positive returns during the period. Value-oriented stocks outperformed
growth-oriented stocks by 5.8%, as measured by the Russell 1000 Value Index
(12.9%) versus the Russell 1000 Growth Index (7.1%). The more cyclical sectors
of the Russell 1000 Value Index posted positive gains, with Materials,
Industrials and Financials leading the way. Another major factor affecting the
markets was the continued market cap bias toward smaller cap stocks. The large
cap S&P 500 Index returned 9.6%, compared to the S&P 400 MidCap Index's return
of 15.3%.
The Fund benefited from positive stock selection and allocation within Energy,
Industrials, Telecommunications Services, Consumer Staples and Financials. The
top three contributors, on a benchmark relative basis, were Caterpillar
(Industrials) and Energy stocks Cameco and Global SantaFe. As of the end of the
period, all three stocks were held in the Fund, although we took profits.
The Fund's slight underperformance relative to the benchmark during this period
was primarily due to unfavorable stock selection and allocation within Health
Care, Materials, Utilities, Information Technology and Consumer Discretionary.
The three largest detractors, on relative basis, were Wellpoint Health (Health
Care), Dow Chemical (Materials) and PepsiCo (Consumer Staples). We reduced our
positions in all three names at the end of the period. The HMO industry has
delivered strong performance over the last five years driven primarily by strong
fundamentals. Wellpoint Health's shares declined due to the recent sell-off of
the entire industry due to concerns that medical costs may not decelerate as the
market expects. Dow Chemical and PepsiCo continued to post good profit results,
however they were unable to offset the headwinds of high energy and raw
materials costs.
WHAT IS THE OUTLOOK?
During the next twelve months, global GDP growth likely will remain in the 3-4%
range, with the US economy decelerating to slightly below 3%. Bearing in mind
that flat yield curves have presaged every US recession since 1954, we expect an
eventual downshift in business activity as a result of the credit tightening.
Another striking capital market feature is the increasing appetite for risk
among investors and the declining trend in market volatility. We were impressed
by the ease with which the Texas Pacific Group was able to raise $14 billion for
a private equity
92
- --------------------------------------------------------------------------------
buyout fund in recent weeks, suggesting capital markets continue to enjoy more
than sufficient liquidity. We suspect the expansionary mode of global capital
markets has provided a degree of offset to the synchronized central bank
tightening occurring the in US, Europe, and now Japan.
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 Industrials, Consumer Staples, Health Care,
Utilities, Telecommunications Services and Materials and underweight Financials,
Consumer Discretionary, Information Technology, and Energy.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 6.5%
- -------------------------------------------------------------------
Capital Goods 7.3
- -------------------------------------------------------------------
Consumer Cyclical 3.8
- -------------------------------------------------------------------
Consumer Staples 4.4
- -------------------------------------------------------------------
Energy 10.1
- -------------------------------------------------------------------
Finance 30.3
- -------------------------------------------------------------------
Health Care 8.3
- -------------------------------------------------------------------
Services 4.0
- -------------------------------------------------------------------
Technology 12.2
- -------------------------------------------------------------------
Transportation 3.9
- -------------------------------------------------------------------
Utilities 5.8
- -------------------------------------------------------------------
Short-Term Investments 3.3
- -------------------------------------------------------------------
Other Assets & Liabilities 0.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
93
The Hartford Value Opportunities Fund
(subadvised by Wellington Management Company, LLP)
INVESTMENT OBJECTIVE -- SEEKS SHORT- AND LONG-TERM
CAPITAL APPRECIATION.
PERFORMANCE OVERVIEW(1,3) 4/30/96 - 4/30/06
Growth of a $10,000 investment in Class A which includes Sales Charge
(LINE GRAPH)
<Table>
<Caption>
VALUE OPPORTUNITIES FUND RUSSELL 3000 VALUE INDEX RUSSELL 1000 VALUE INDEX
------------------------ ------------------------ ------------------------
4/30/96 9450 10000 10000
9617 10137 10125
9626 10133 10133
9133 9734 9750
9468 10027 10029
9934 10412 10428
9970 10785 10831
10551 11547 11616
10558 11452 11468
10919 11968 12024
11054 12137 12201
10648 11712 11762
4/97 11036 12172 12256
11676 12880 12941
11965 13443 13496
12623 14410 14512
12181 13968 13995
12758 14820 14840
12397 14407 14426
12938 14996 15064
13177 15441 15503
13257 15217 15284
14029 16231 16313
14590 17191 17311
4/98 14630 17303 17426
14300 17013 17168
14470 17201 17388
13949 16804 17081
11875 14292 14539
12336 15112 15374
13097 16222 16564
13849 16952 17336
14282 17526 17926
14482 17623 18069
14093 17302 17814
14459 17623 18183
4/99 15458 19267 19881
15103 19111 19663
15702 19676 20234
15214 19107 19641
14737 18400 18912
14126 17777 18251
14748 18700 19302
14759 18570 19151
15544 18691 19243
14923 18090 18616
14077 16911 17233
16224 18824 19335
4/00 16343 18627 19110
16558 18790 19312
15532 18026 18429
15854 18277 18660
17059 19281 19698
16618 19438 19879
17906 19881 20367
17279 19164 19611
18473 20194 20593
19352 20303 20673
18774 19775 20098
17803 19102 19387
4/01 19142 20035 20338
19155 20490 20795
18984 20125 20334
18446 20053 20291
17449 19300 19478
15494 17887 18107
15731 17775 17951
16893 18825 18995
17735 19319 19442
17216 19199 19292
17089 19237 19323
17651 20186 20238
4/02 16500 19601 19544
16106 19638 19642
14618 18565 18514
13354 16763 16793
13565 16876 16920
11936 15046 15038
13003 16096 16152
14042 17129 17170
13200 16386 16424
12877 15984 16027
12483 15551 15599
12469 15586 15625
4/03 13930 16965 17001
15011 18105 18098
15180 18337 18324
15376 18656 18597
16036 18978 18887
16036 18790 18703
17061 19969 19847
17623 20278 20116
18592 21488 21356
19196 21894 21732
19561 22359 22198
19238 22203 22003
4/04 18760 21612 21466
18929 21835 21685
19462 22398 22197
18788 22022 21884
18845 22327 22196
19210 22717 22540
19743 23092 22914
20825 24334 24073
21920 25128 24879
21274 24637 24437
22004 25425 25247
21667 25062 24901
4/05 20895 24542 24455
21779 25207 25043
22229 25553 25318
22875 26355 26050
22804 26197 25937
22552 26528 26301
21850 25855 25633
23087 26722 26476
23565 26850 26634
24478 27996 27668
24536 28151 27837
24797 28620 28214
4/06 25506 29287 28931
</Table>
<Table>
--- VALUE OPPORTUNITIES --- RUSSELL 3000 VALUE -- RUSSELL 1000 VALUE INDEX
FUND INDEX $10,000 starting value
$9,450 starting value $10,000 starting value $28,931 ending value
$25,506 ending value $29,287 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 RUSSELL 1000 VALUE INDEX is a market cap weighted measure of the performance
of the 1,000 largest value-oriented companies in the Russell 3000 Index, which
represents approximately 92% of the total market capitalization of the Russell
3000 Index. Value is defined as companies with lower price-to-book ratios and
lower forecasted growth values.
You cannot invest directly in an index.
The value of shares will fluctuate so that, when redeemed, shares may be worth
more or less than their original cost. The chart and table do not reflect the
deduction of taxes that a shareholder would pay on fund distributions or the
redemption of fund shares.
Performance information may reflect historical or current expense
waivers/reimbursements from 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 4/30/06)
<Table>
<Caption>
INCEPTION SINCE
DATE 1 YEAR 5 YEAR 10 YEAR INCEPTION
- ---------------------------------------------------------------------
Value Opp A# 1/2/1996 22.07% 5.91% 10.43% 10.84%
- ---------------------------------------------------------------------
Value Opp A## 1/2/1996 15.36% 4.72% 9.81% 10.24%
- ---------------------------------------------------------------------
Value Opp B# 1/2/1996 21.30% 5.16% NA* NA*
- ---------------------------------------------------------------------
Value Opp B## 1/2/1996 16.30% 4.83% NA* NA*
- ---------------------------------------------------------------------
Value Opp C# 1/2/1996 21.21% 5.14% 9.62% 10.03%
- ---------------------------------------------------------------------
Value Opp C## 1/2/1996 20.21% 5.14% 9.62% 10.03%
- ---------------------------------------------------------------------
Value Opp H# 1/2/1996 21.41% 5.19% NA* NA*
- ---------------------------------------------------------------------
Value Opp H## 1/2/1996 17.41% 4.86% NA* NA*
- ---------------------------------------------------------------------
Value Opp L# 1/2/1996 22.37% 5.96% 10.46% 10.87%
- ---------------------------------------------------------------------
Value Opp L## 1/2/1996 16.55% 4.93% 9.92% 10.35%
- ---------------------------------------------------------------------
Value Opp M# 1/2/1996 21.44% 5.18% NA* NA*
- ---------------------------------------------------------------------
Value Opp M## 1/2/1996 17.44% 4.85% NA* NA*
- ---------------------------------------------------------------------
Value Opp N# 1/2/1996 21.41% 5.19% 9.65% 10.06%
- ---------------------------------------------------------------------
Value Opp N## 1/2/1996 20.41% 5.19% 9.65% 10.06%
- ---------------------------------------------------------------------
Value Opp Y# 2/19/2002 22.55% NA NA 10.84%
- ---------------------------------------------------------------------
</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 six-month period ended April 30, 2006, The Hartford Value Opportunities
Fund Class A, before sales charge, returned 16.74%. The Fund outperformed the
Russell 3000 Value Index return of 13.28% and the Lipper Multi Cap Value peer
average return of 11.99%.
WHY DID THE FUND PERFORM THIS WAY?
The equity markets posted strong positive returns for the six-month period, with
the S&P 500 returning 9.6%. Investors shrugged off higher energy and basic
material prices, huge budget and trade deficits, higher short-term interest
rates, and escalating tensions in Iraq and Iran. During the period, value stocks
outperformed growth stocks by 5.8%, as measured by the Russell 1000 Growth and
Russell 1000 Value indices, and small and mid-cap stocks continued to trounce
larger caps, as measured by the Russell 2000, S&P 400 Midcap and S&P 500
indices, respectively. All ten broad sectors of the Russell 3000 Value Index
posted positive returns, with Materials and Industrials stocks responding
particularly enthusiastically to supply and demand imbalances. Reflecting an
increasing investor appetite for risk, "safe" stocks such as Utilities and
Consumer Staples posted weaker returns.
Stock selection continued to be the primary driver of the Fund's outperformance,
especially in the Information Technology, Energy, and Consumer Discretionary
sectors. At the margin, the Fund's overweights in Materials and Industrials, and
underweights in Utilities and Consumer Staples were additive to relative
performance. Our top contributors to relative performance were disk drive
94
- --------------------------------------------------------------------------------
maker SeaGate Technology, which is experiencing good product demand, US Airways,
whose shares continued to benefit from the company's improving cost structure,
and Alcoa, a Materials stock that benefited from the strength of their alumina
and primary metals divisions. All three stocks were held in the Fund at the end
of the period, although we took profits and trimmed SeaGate Technology.
The Fund suffered a few stock disappointments during the period. The three
largest detractors to relative performance were YRC Worldwide, a trucking
company suffering merger related indigestion, and auto-parts manufacturers Lear
and TRW Automotive, which were hurt by weak sales at the "Big Three" automakers.
We held onto all three stocks at period end, but reduced the YRC position.
WHAT IS THE OUTLOOK?
Overall, our 2006 best case for the stock market is for modest growth in
earnings and stable multiples resulting in single digit type returns. We expect
U.S. consumer spending growth to slow noticeably during 2006 as elevated energy
costs and rising interest rates continue to crimp discretionary spending,
particularly in the bottom half of the household income spectrum. On the
corporate side, we expect capital spending growth to continue at a healthy clip,
reflecting strong corporate profits and balance sheets, rising capacity
utilization rates, continued industrialization of China and India, and the need
to continue rebuilding infrastructure in the U.S. There are clearly a number of
material risks that exist, including the continued under-pricing of risk
globally, the massive U.S. current account deficit, potential terrorist attacks,
an armed conflict with Iran, an avian-flu outbreak or a rapid deceleration in
Chinese GDP growth, just to name a few. We continue to watch these risks
closely, but to date it's "steady as she goes."
While finding truly cheap stocks is more challenging than several years ago due
to the compression of valuation spreads, we do see a number of good values
available in the market. As of the end of the period, the Fund was overweight
Consumer Discretionary, Information Technology, Industrials, Materials and
Health Care, relative to the benchmark. Underweights were in Financials,
Consumer Staples, Utilities, Energy and Telecommunications, which seem expensive
relative to their growth prospects.
DIVERSIFICATION BY INDUSTRY
as of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- -------------------------------------------------------------------
Basic Materials 8.8%
- -------------------------------------------------------------------
Capital Goods 5.1
- -------------------------------------------------------------------
Consumer Cyclical 8.7
- -------------------------------------------------------------------
Energy 10.2
- -------------------------------------------------------------------
Finance 26.5
- -------------------------------------------------------------------
Health Care 9.2
- -------------------------------------------------------------------
Services 7.1
- -------------------------------------------------------------------
Technology 19.0
- -------------------------------------------------------------------
Transportation 3.1
- -------------------------------------------------------------------
Utilities 0.3
- -------------------------------------------------------------------
Short-Term Investments 6.1
- -------------------------------------------------------------------
Other Assets & Liabilities -4.1
- -------------------------------------------------------------------
TOTAL 100.0%
- -------------------------------------------------------------------
</Table>
95
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 65.4%
BASIC MATERIALS -- 2.5%
422 Dow Chemical Co. ................................. $ 17,137
189 DuPont (E.I.) de Nemours & Co. ................... 8,353
180 Mittal Steel Co. H................................ 6,763
246 Newmont Mining C.................................. 14,357
----------
46,610
----------
CAPITAL GOODS -- 1.8%
158 American Standard Cos., Inc. ..................... 6,891
96 Boeing Co. ....................................... 7,978
76 Deere & Co. ...................................... 6,662
161 Goodrich Corp. ................................... 7,147
112 Ingersoll-Rand Co. Class A........................ 4,900
----------
33,578
----------
CONSUMER CYCLICAL -- 5.1%
80 Altria Group, Inc. ............................... 5,860
170 Best Buy Co., Inc. ............................... 9,644
330 D.R. Horton, Inc. ................................ 9,904
632 Dollar General Corp. ............................. 11,031
256 Federated Department Stores, Inc. ................ 19,961
783 Gap, Inc. ........................................ 14,168
176 Home Depot, Inc. ................................. 7,036
236 Newell Rubbermaid, Inc. .......................... 6,479
131 Toyota Motor Corp. D.............................. 7,635
----------
91,718
----------
CONSUMER STAPLES -- 3.1%
108 Clorox Co. ....................................... 6,951
192 Coca-Cola Co. .................................... 8,069
169 PepsiCo, Inc. .................................... 9,860
333 Procter & Gamble Co. ............................. 19,407
175 Unilever N.V. NY Shares........................... 12,620
----------
56,907
----------
ENERGY -- 4.8%
183 ConocoPhillips.................................... 12,236
170 EnCana Corp. ..................................... 8,509
626 Exxon Mobil Corp. ................................ 39,488
17 Hugoton Royalty Trust............................. 473
685 Williams Cos., Inc. .............................. 15,024
283 XTO Energy, Inc. ................................. 11,968
----------
87,698
----------
FINANCE -- 13.3%
366 American International Group, Inc. ............... 23,854
581 Bank of America Corp. ............................ 29,022
729 Citigroup, Inc. .................................. 36,390
487 Countrywide Financial Corp. ...................... 19,781
272 E*Trade Financial Corp. B......................... 6,767
271 Federal Home Loan Mortgage Corp. ................. 16,517
57 Goldman Sachs Group, Inc. ........................ 9,105
1 Mitsubishi UFJ Financial Group, Inc. D............ 5,769
163 Muenchener Rueckversicherungs-Gesellschaft AG D... 23,037
257 St. Paul Travelers Cos., Inc. .................... 11,330
187 State Street Corp. ............................... 12,208
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
95 Takefuji Corp. D.................................. $ 6,140
200 UBS AG............................................ 23,372
817 UniCredito Italiano S.p.A. D...................... 6,151
123 UnitedHealth Group, Inc. ......................... 6,103
144 Wellpoint, Inc. B................................. 10,203
----------
245,749
----------
HEALTH CARE -- 9.1%
437 Abbott Laboratories............................... 18,669
331 Amgen, Inc. B..................................... 22,422
158 AstraZeneca plc ADR............................... 8,705
1,076 Boston Scientific Corp. B......................... 24,997
270 Bristol-Myers Squibb Co. ......................... 6,863
222 Cardinal Health, Inc. ............................ 14,918
352 Elan Corp. plc ADR BH............................. 5,175
432 Lilly (Eli) & Co. ................................ 22,872
303 Sanofi-Aventis S.A. ADR H......................... 14,253
645 Schering-Plough Corp. ............................ 12,469
358 Shionogi & Co., Ltd. DQ........................... 6,036
234 Wyeth............................................. 11,408
----------
168,787
----------
SERVICES -- 6.3%
390 Accenture Ltd. Class A............................ 11,346
142 Autodesk, Inc. B.................................. 5,965
210 Clear Channel Communications, Inc. ............... 5,997
317 Comcast Corp. Class A BH.......................... 9,811
687 News Corp. Class A................................ 11,792
2,268 Sun Microsystems, Inc. B.......................... 11,342
108 United Parcel Service, Inc. Class B............... 8,772
437 Viacom, Inc. Class B B............................ 17,388
622 Walt Disney Co. .................................. 17,400
844 XM Satellite Radio Holdings, Inc. Class A BH...... 17,057
----------
116,870
----------
TECHNOLOGY -- 17.6%
242 American Tower Corp. Class A B.................... 8,269
920 AT&T, Inc. ....................................... 24,121
1,024 Cisco Systems, Inc. B............................. 21,459
1,646 EMC Corp. B....................................... 22,237
1,092 Flextronics International Ltd. B.................. 12,403
1,674 General Electric Co. ............................. 57,914
32 Google, Inc. B.................................... 13,416
390 Lexmark International, Inc. ADR B................. 19,007
132 Lockheed Martin Corp. ............................ 10,003
463 Medtronic, Inc. .................................. 23,226
70 Mercury Interactive Corp. B....................... 2,524
1,105 Microsoft Corp. .................................. 26,688
692 Nokia Oyj ADR..................................... 15,675
706 Oracle Corp. B.................................... 10,299
17 Samsung Electronics Co., Ltd. D................... 11,899
354 Sharp Corp. D..................................... 6,195
128 Sony Corp. D...................................... 6,269
909 Sprint Nextel Corp. .............................. 22,538
</Table>
The accompanying notes are an integral part of these financial statements.
96
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
611 Taiwan Semiconductor Manufacturing Co., Ltd.
ADR............................................. $ 6,405
187 Tyco International Ltd. .......................... 4,933
----------
325,480
----------
TRANSPORTATION -- 0.3%
387 Southwest Airlines Co. ........................... 6,274
----------
UTILITIES -- 1.5%
79 Dominion Resources, Inc. H........................ 5,900
83 E.On AG BD........................................ 10,126
201 Exelon Corp. ..................................... 10,843
----------
26,869
----------
Total common stock
(cost $1,119,205)............................... $1,206,540
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
MUNICIPAL BONDS -- 0.2%
GENERAL OBLIGATIONS -- 0.2%
$ 2,000 Oregon School Boards Association,
4.76%, Taxable Pension 06/30/2028............... $ 1,744
2,050 State of Illinois,
5.10%, Taxable Pension 06/01/2033............... 1,841
----------
Total municipal bonds
(cost $4,027)................................... $ 3,585
----------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 5.1%
FINANCE -- 5.1%
1,380 Banc of America Commercial Mortgage, Inc.,
5.35%, 09/10/2047 K............................. $ 1,333
1,755 Bear Stearns Commercial Mortgage Securities, Inc.,
5.16%, 10/12/2042 K............................. 1,693
730 Bear Stearns Commercial Mortgage Securities, Inc.,
5.47%, 04/12/2038............................... 722
655 Centex Home Equity,
4.72%, 10/25/2031............................... 642
10,000 Citibank Credit Card Issuance Trust,
5.65%, 06/16/2008............................... 10,009
2,750 Citigroup/Deutsche Bank Commercial Mortgage,
5.23%, 09/15/2020............................... 2,668
2,750 Commercial Mortgage Pass-Through Certificates,
5.12%, 06/10/2044............................... 2,630
10,000 Connecticut RRB Special Purpose Trust CL&P,
6.21%, 12/30/2011............................... 10,286
2,730 Credit Suisse Mortgage Capital Certificates,
5.61%, 12/15/2015............................... 2,695
3,000 Goldman Sachs Mortgage Securities Corp.,
4.75%, 07/10/2039............................... 2,801
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
$ 2,750 Greenwich Capital Commercial Funding Corp.,
5.21%, 09/10/2015............................... $ 2,650
1,895 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.18%, 12/15/2044 K............................. 1,832
3,050 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.48%, 12/12/2044............................... 2,993
10,000 MBNA Credit Card Master Note Trust,
4.95%, 06/15/2009............................... 9,993
2,750 Merrill Lynch Mortgage Trust,
5.05%, 07/12/2038............................... 2,618
2,875 Morgan Stanley Dean Witter Capital I,
5.23%, 09/15/2042............................... 2,772
10,000 Peco Energy Transition Trust,
6.13%, 03/01/2009............................... 10,132
10,000 PSE&G Transition Funding LLC,
6.61%, 06/15/2015............................... 10,591
2,616 Residential Accredit Loans, Inc.,
5.26%, 02/25/2035............................... 2,577
2,575 Susquehanna Auto Lease Trust,
5.21%, 03/16/2009 M............................. 2,567
3,000 Wachovia Bank Commercial Mortgage Trust,
5.12%, 07/15/2042 H............................. 2,866
1,959 Wells Fargo Mortgage Backed Securities Trust,
4.53%, 04/25/2035 K............................. 1,906
2,190 Wells Fargo Mortgage Backed Securities Trust,
4.55%, 03/25/2035 K............................. 2,135
3,073 Wells Fargo Mortgage Backed Securities Trust,
5.55%, 04/25/2036 K............................. 3,082
----------
Total asset & commercial mortgage backed
securities
(cost $95,909).................................. $ 94,193
----------
CORPORATE BONDS: INVESTMENT GRADE -- 11.9%
BASIC MATERIALS -- 0.5%
4,000 Alcan, Inc.,
6.45%, 03/15/2011 H............................. $ 4,131
5,000 Alcoa, Inc.,
7.375%, 08/01/2010.............................. 5,342
----------
9,473
----------
CAPITAL GOODS -- 0.1%
2,000 Rockwell Automation, Inc.,
6.70%, 01/15/2028............................... 2,128
----------
CONSUMER CYCLICAL -- 0.9%
1,900 DaimlerChrysler NA Holdings Corp.,
5.875%, 03/15/2011.............................. 1,892
1,975 DaimlerChrysler NA Holdings Corp.,
6.50%, 11/15/2013............................... 2,006
250 Sysco Corp.,
6.50%, 08/01/2028............................... 261
</Table>
The accompanying notes are an integral part of these financial statements.
97
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 4,000 Target Corp.,
5.875%, 11/01/2008.............................. $ 4,060
6,000 Wal-Mart Stores, Inc.,
6.875%, 08/10/2009.............................. 6,269
----------
14,488
----------
CONSUMER STAPLES -- 1.6%
2,000 Archer Daniels Midland Co.,
8.125%, 06/01/2012.............................. 2,250
4,000 Coca-Cola Enterprises, Inc.,
5.75%, 11/01/2008............................... 4,039
2,000 Colgate-Palmolive Co.,
5.58%, 11/06/2008............................... 2,021
4,906 ConAgra Foods, Inc.,
6.70%, 08/01/2027............................... 5,129
2,025 Diageo Capital plc,
4.375%, 05/03/2010.............................. 1,938
500 Pepsi Bottling Group, Inc.,
7.00%, 03/01/2029............................... 548
3,000 PepsiAmericas, Inc.,
6.375%, 05/01/2009.............................. 3,078
7,000 Procter & Gamble Co.,
9.36%, 01/01/2021............................... 8,686
2,300 Weyerhaeuser Co.,
7.375%, 03/15/2032.............................. 2,402
----------
30,091
----------
ENERGY -- 0.6%
7,000 Atlantic Richfield Co.,
5.90%, 04/15/2009............................... 7,124
4,000 National Fuel Gas Co.,
6.00%, 03/01/2009............................... 4,046
500 Texaco Capital, Inc.,
8.625%, 06/30/2010.............................. 560
----------
11,730
----------
FINANCE -- 5.7%
3,675 Ace INA Holdings, Inc.,
5.875%, 06/15/2014.............................. 3,620
2,100 Ambac Financial Group, Inc.,
5.95%, 12/05/2035............................... 1,965
250 American General Finance Corp.,
6.625%, 02/15/2029.............................. 258
4,000 AXA Financial, Inc.,
7.00%, 04/01/2028............................... 4,285
1,475 Bank of America Corp.,
5.875%, 02/15/2009.............................. 1,495
3,000 Bank of America Corp.,
7.40%, 01/15/2011............................... 3,226
1,010 BB&T Corp.,
4.90%, 06/30/2017............................... 929
3,700 Berkshire Hathaway Finance Corp.,
4.85%, 01/15/2015............................... 3,470
1,875 Brandywine Operating Partners,
6.00%, 04/01/2016............................... 1,834
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
$ 500 BSCH Issuance Ltd.,
7.625%, 11/03/2009.............................. $ 537
750 Citigroup, Inc.,
3.625%, 02/09/2009.............................. 717
1,600 Citigroup, Inc.,
6.00%, 10/31/2033............................... 1,534
500 Citigroup, Inc.,
6.50%, 01/18/2011............................... 520
1,980 Credit Suisse First Boston USA, Inc.,
4.875%, 01/15/2015.............................. 1,843
1,500 Developers Divers Realty,
5.375%, 10/15/2012.............................. 1,452
3,350 EOP Operating L.P.,
4.75%, 03/15/2014............................... 3,073
2,725 ERAC USA Finance Co.,
7.35%, 06/15/2008 M............................. 2,822
885 Everest Re Holdings,
5.40%, 10/15/2014............................... 839
10,000 Financing Corp.,
9.80%, 04/06/2018............................... 13,729
545 First Union National Bank,
5.80%, 12/01/2008............................... 552
2,600 HSBC Bank USA, Inc.,
3.875%, 09/15/2009.............................. 2,474
2,200 International Lease Finance Corp.,
5.00%, 09/15/2012............................... 2,105
2,000 Jackson National Life Insurance Co.,
8.15%, 03/15/2027 M............................. 2,332
1,655 John Deere Capital Corp.,
4.875%, 10/15/2010.............................. 1,612
6,045 JP Morgan Chase & Co.,
5.125%, 09/15/2014.............................. 5,750
250 KeyCorp Capital II,
6.875%, 03/17/2029.............................. 255
1,550 Kimco Realty Corp.,
5.78%, 03/15/2016............................... 1,518
2,335 Liberty Mutual Group,
5.75%, 03/15/2014 M............................. 2,213
1,000 MBIA, Inc.,
7.00%, 12/15/2025............................... 1,036
3,650 Metlife, Inc.,
6.375%, 06/15/2034.............................. 3,635
250 National City Corp.,
6.875%, 05/15/2019.............................. 269
3,100 New England Mutual Life Insurance Co.,
7.875%, 02/15/2024 M............................ 3,608
2,000 Prudential Funding LLC,
6.75%, 09/15/2023 M............................. 2,083
500 Prudential Insurance Co. of America,
6.375%, 07/23/2006 M............................ 501
500 Reliastar Financial Corp.,
8.00%, 10/30/2006............................... 506
250 Republic New York Capital I,
7.75%, 11/15/2026............................... 261
200 State Street Corp.,
7.65%, 06/15/2010............................... 215
</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)
FINANCE -- (CONTINUED)
$ 3,000 Torchmark Corp.,
8.25%, 08/15/2009............................... $ 3,217
2,000 Toyota Motor Credit Corp.,
5.50%, 12/15/2008............................... 2,008
4,000 UnitedHealth Group, Inc.,
5.00%, 08/15/2014............................... 3,787
3,100 US Bank NA,
4.95%, 10/30/2014............................... 2,920
1,005 Wachovia Capital Trust I,
5.80%, 08/26/2049............................... 985
3,000 Wachovia Corp.,
5.625%, 12/15/2008.............................. 3,021
1,740 WellPoint, Inc.,
5.00%, 01/15/2011............................... 1,695
4,000 Wells Fargo Bank NA,
6.45%, 02/01/2011............................... 4,148
580 Willis Group North America,
5.63%, 07/15/2015............................... 555
4,165 XL Capital Europe plc,
6.50%, 01/15/2012............................... 4,263
----------
105,672
----------
HEALTH CARE -- 0.6%
4,000 Becton, Dickinson & Co.,
6.70%, 08/01/2028............................... 4,204
685 CVS Corp.,
4.875%, 09/15/2014.............................. 636
1,600 Pharmacia Corp.,
6.60%, 12/01/2028............................... 1,708
4,000 Wyeth,
6.95%, 03/15/2011............................... 4,218
----------
10,766
----------
SERVICES -- 0.6%
3,000 Cox Communications, Inc.,
5.45%, 12/15/2014............................... 2,840
4,000 FedEx Corp.,
3.50%, 04/01/2009............................... 3,799
2,100 News America, Inc.,
6.40%, 12/15/2035 M............................. 1,985
3,040 Viacom, Inc.,
6.875%, 04/30/2036 M............................ 2,996
----------
11,620
----------
TECHNOLOGY -- 1.1%
4,000 Comcast Cable Communications, Inc.,
6.875%, 06/15/2009.............................. 4,144
500 Comcast Cable Communications, Inc.,
8.50%, 05/01/2027............................... 585
1,800 Deutsche Telekom International Finance B.V.,
8.75%, 06/15/2030............................... 2,137
7,725 General Electric Co.,
5.00%, 02/01/2013............................... 7,469
3,100 Telecom Italia Capital,
5.25%, 10/01/2015............................... 2,865
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
TECHNOLOGY -- (CONTINUED)
$ 250 Telecomunicaciones de Puerto Rico, Inc.,
6.65%, 05/15/2006............................... $ 250
2,600 Verizon Communications,
5.55%, 02/15/2016............................... 2,481
250 Verizon Global Funding Corp.,
7.25%, 12/01/2010............................... 265
250 Verizon Global Funding Corp.,
7.75%, 12/01/2030............................... 276
----------
20,472
----------
UTILITIES -- 0.2%
500 Alabama Power Co.,
7.125%, 10/01/2007.............................. 512
1,500 Midamerican Energy Holdings,
6.125%, 04/01/2036 M............................ 1,431
1,150 Northern Border Pipeline Co.,
7.75%, 09/01/2009............................... 1,224
250 TransCanada Pipelines Ltd.,
6.49%, 01/21/2009............................... 256
----------
3,423
----------
Total corporate bonds: investment grade
(cost $218,037)................................. $ 219,863
----------
U.S. GOVERNMENT SECURITIES -- 13.7%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.8%
3,676 Financing Corp. Strip,
4.40%, 2013Z.................................... $ 2,442
13,500 Tennessee Valley Authority,
4.375%, 06/15/2015.............................. 12,542
----------
14,984
----------
U.S. TREASURY SECURITIES -- 12.9%
26,600 2.625% 2009 H..................................... 25,005
24,725 3.50% 2010 H...................................... 23,534
82,475 3.875% 2007 -- 2010 H............................. 80,686
12,975 4.125% 2015 H..................................... 12,109
17,075 4.25% 2010 -- 2015 H.............................. 16,369
32,200 4.375% 2010 H..................................... 31,479
15,000 4.50% 2036 H...................................... 13,480
31,075 6.25% 2023 H...................................... 34,343
----------
237,005
----------
Total U.S. government securities
(cost $259,746)................................. $ 251,989
----------
U.S. GOVERNMENT AGENCIES -- 1.3%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 0.2%
3,683 2.50% 2013........................................ $ 3,563
----------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 0.0%
120 4.50% 2036 Q...................................... 110
495 6.50% 2036 Q...................................... 503
----------
613
----------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 0.6%
4,014 6.00% 2023 -- 2034................................ 4,032
2,808 6.50% 2026 -- 2035................................ 2,892
</Table>
The accompanying notes are an integral part of these financial statements.
99
THE HARTFORD ADVISERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
U.S. GOVERNMENT AGENCIES -- (CONTINUED)
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION --
(CONTINUED)
$ 3,124 7.00% 2026 -- 2036................................ $ 3,242
582 8.00% 2029 -- 2031................................ 624
44 9.00% 2023........................................ 48
----------
10,838
----------
OTHER GOVERNMENT AGENCIES -- 0.5%
14,050 Resolution Funding Corp. Strip,
4.25%, 4-15-2014 ZH............................. 9,328
----------
Total U.S. government agencies
(cost $24,792).................................. $ 24,342
----------
SHORT-TERM INVESTMENTS -- 17.2%
REPURCHASE AGREEMENTS -- 1.5%
4,595 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 4,595
3,041 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 3,041
4,659 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 4,659
1,877 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 1,877
4,206 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 4,206
690 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 690
7,506 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 7,506
----------
26,574
----------
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 14.9%
$275,719 BNY Institutional Cash Reserve Fund............... $ 275,719
----------
U.S. GOVERNMENT AGENCIES -- 0.8%
14,200 Federal Home Loan Mortgage Corp.,
4.69%, 05/02/2006 Z............................. 14,198
----------
Total short-term investments
(cost $316,491)................................. $ 316,491
----------
Total investments in securities
(cost $2,038,207) O............................. $2,117,003
==========
</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 10.86% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $89,257, which represents 4.84% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $2,056,208 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 94,972
Unrealized depreciation........................ (34,177)
--------
Net unrealized appreciation.................... $ 60,795
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April
30, 2006, was $22,538, which represents 1.22% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
Q The cost of securities purchased on a when-issued and delayed
delivery basis at April 30, 2006 was $832.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Buy $598 $597 05/02/2006 $1
Japanese Yen Buy 219 219 05/08/2006 --
--
$1
==
</Table>
The accompanying notes are an integral part of these financial statements.
100
THE HARTFORD AGGRESSIVE GROWTH ALLOCATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 99.4%
EQUITY FUNDS -- 99.4%
460 Hartford Capital Appreciation Fund, Class Y....... $ 18,930
2,239 Hartford Disciplined Equity Fund, Class Y......... 29,240
167 Hartford Dividend and Growth Fund, Class Y........ 3,428
418 Hartford Global Leaders Fund, Class Y............. 8,549
707 Hartford Growth Fund, Class Y B................... 13,781
222 Hartford Growth Opportunities Fund, Class Y....... 6,863
568 Hartford International Capital Appreciation Fund,
Class Y......................................... 8,634
314 Hartford International Opportunities Fund, Class
Y............................................... 5,178
759 Hartford International Small Company Fund, Class
Y............................................... 12,238
233 Hartford MidCap Value Fund, Class Y............... 3,415
291 Hartford Select MidCap Growth Fund, Class Y....... 3,403
424 Hartford Small Company Fund, Class Y B............ 10,295
630 Hartford SmallCap Growth Fund, Class Y B.......... 20,703
1,155 Hartford Value Fund, Class Y...................... 13,910
779 Hartford Value Opportunities Fund, Class Y........ 13,855
--------
Total equity funds
(cost $152,901)................................. $172,422
--------
Total investments in affiliated
investment companies
(cost $152,901) O............................... $172,422
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $152,907 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $19,515
Unrealized depreciation......................... --
-------
Net unrealized appreciation..................... $19,515
=======
</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
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 99.3%
EQUITY FUNDS -- 59.5%
1,486 Hartford Capital Appreciation Fund, Class Y....... $ 61,129
2,339 Hartford Disciplined Equity Fund, Class Y......... 30,548
891 Hartford Dividend and Growth Fund, Class Y........ 18,249
1,188 Hartford Global Leaders Fund, Class Y............. 24,296
624 Hartford Growth Fund, Class Y B................... 12,164
588 Hartford Growth Opportunities Fund, Class Y....... 18,155
2,031 Hartford International Capital Appreciation Fund,
Class Y......................................... 30,856
752 Hartford International Opportunities Fund, Class
Y............................................... 12,409
774 Hartford International Small Company Fund, Class
Y............................................... 12,479
831 Hartford MidCap Value Fund, Class Y............... 12,214
1,025 Hartford Select MidCap Growth Fund, Class Y....... 11,987
1,508 Hartford Small Company Fund, Class Y B............ 36,618
735 Hartford SmallCap Growth Fund, Class Y B.......... 24,158
579 Hartford Stock Fund, Class Y...................... 12,241
1,011 Hartford Value Fund, Class Y...................... 12,174
2,069 Hartford Value Opportunities Fund, Class Y........ 36,781
--------
Total equity funds
(cost $319,430)................................. $366,458
--------
FIXED INCOME FUNDS -- 37.8%
3,611 Hartford Floating Rate Fund, Class Y.............. 36,620
1,555 Hartford High Yield Fund, Class Y................. 12,222
1,806 Hartford Income Fund, Class Y..................... 18,328
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FIXED INCOME FUNDS -- (CONTINUED)
5,943 Hartford Inflation Plus Fund, Class Y............. $ 61,337
3,733 Hartford Short Duration Fund, Class Y............. 36,620
6,400 Hartford Total Return Bond Fund, Class Y.......... 67,265
--------
Total fixed income funds
(cost $238,245)................................. $232,392
--------
MONEY MARKET FUND -- 2.0%
12,172 Hartford Money Market Fund, Class Y............... 12,172
--------
Total money market fund
(cost $12,169).................................. $ 12,172
--------
Total investments in affiliated
investment companies
(cost $569,844) O............................... $611,022
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $569,844 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $47,134
Unrealized depreciation......................... (5,956)
-------
Net unrealized appreciation..................... $41,178
=======
</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
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
COMMON STOCK -- 94.2%
BASIC MATERIALS -- 8.6%
44,666 Aluminum Corp. of China Ltd. D.................... $ 43,894
751 Arch Coal, Inc. H................................. 71,337
1,998 BHP Billiton Ltd. ADR H........................... 91,033
4,202 Cameco Corp. H.................................... 170,795
2,257 Companhia Vale do Rio Doce ADR H.................. 116,268
4,127 Dow Chemical Co. ................................. 167,577
1,583 Inco Ltd. H....................................... 89,369
981 Newmont Mining Corp. H............................ 57,275
515 Peabody Energy Corp. ............................. 32,894
1,736 Rio Tinto plc D H................................. 95,721
1,695 Tek Cominco Ltd. Class B.......................... 116,824
929 United States Steel Corp. ........................ 63,630
-----------
1,116,617
-----------
CAPITAL GOODS -- 6.8%
1,353 3M Co. ........................................... 115,578
2,300 Boeing Co. ....................................... 191,935
1,796 Caterpillar, Inc. ................................ 136,014
2,704 Ingersoll-Rand Co. Class A........................ 118,313
1,681 ITT Industries, Inc. ............................. 94,494
616 Joy Global, Inc. H................................ 40,472
852 National Oilwell Varco, Inc. B.................... 58,735
8,483 Xerox Corp. B..................................... 119,100
-----------
874,641
-----------
CONSUMER CYCLICAL -- 4.2%
2,625 eBay, Inc. B...................................... 90,330
2,721 Federated Department Stores, Inc. ................ 211,807
1,388 Lotte Shopping Co. GDR B.......................... 28,509
3,661 Toyota Motor Corp. D.............................. 213,866
-----------
544,512
-----------
CONSUMER STAPLES -- 1.9%
3,755 Bunge Ltd. H...................................... 200,308
862 Procter & Gamble Co. ............................. 50,182
-----------
250,490
-----------
ENERGY -- 8.3%
1,468 Canadian Natural Resources........................ 88,374
2,238 ConocoPhillips.................................... 149,709
1,693 Halliburton Co. .................................. 132,292
289 Hugoton Royalty Trust............................. 8,001
1,592 Nabors Industries Ltd. BH......................... 59,415
900 Occidental Petroleum Corp. ....................... 92,466
1,337 Schlumberger Ltd. ................................ 92,426
965 Valero Energy Corp. .............................. 62,487
3,577 Weatherford International Ltd. BH Z............... 189,304
4,855 XTO Energy, Inc. ................................. 205,625
-----------
1,080,099
-----------
FINANCE -- 20.2%
4,287 ACE Ltd. ......................................... 238,117
7,517 Akbank T.A.S D.................................... 62,659
2,900 American International Group, Inc. ............... 189,225
1,583 Assurant, Inc. H.................................. 76,229
1,665 Bank of America Corp. ............................ 83,127
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
FINANCE -- (CONTINUED)
3,004 Capital One Financial Corp. ...................... $ 260,275
3,130 Citigroup, Inc. .................................. 156,353
3,482 Countrywide Financial Corp. ...................... 141,590
1,368 European Capital Ltd. D V......................... 15,911
1,296 Federal Home Loan Mortgage Corp. ................. 79,128
2,069 Genworth Financial, Inc. ......................... 68,675
852 Goldman Sachs Group, Inc. ........................ 136,631
500 Host Hotels & Resorts, Inc. H..................... 10,510
8,845 ICICI Bank Ltd. B M............................... 113,480
1,043 Muenchener Rueckversicherungs-Gesellschaft
AG DH........................................... 147,744
1,192 Reliance Capital D B.............................. 676
7,213 Reliance Communication D B M...................... 47,267
2,996 Reliance Energy D B............................... 2,835
3,355 Reliance Zero D B M............................... 74,848
3,500 Shinsei Bank Ltd. D............................... 24,449
561 UBS AG H.......................................... 65,506
1,956 Uniao de Bancos Brasileiros S.A. GDR.............. 155,224
5,000 UniCredito Italiano S.p.A. D...................... 37,661
1,196 UnitedHealth Group, Inc. ......................... 59,469
3,577 Washington Mutual, Inc. H......................... 161,180
2,677 Wellpoint, Inc. B................................. 190,053
-----------
2,598,822
-----------
HEALTH CARE -- 7.7%
1,738 Abbott Laboratories............................... 74,282
2,043 Amgen, Inc. B..................................... 138,331
2,975 AstraZeneca plc ADR............................... 164,023
8,588 Boston Scientific Corp. B......................... 199,579
3,307 Lilly (Eli) & Co. ................................ 175,017
2,985 Teva Pharmaceutical Industries Ltd. ADR H......... 120,888
2,666 Wyeth............................................. 129,745
-----------
1,001,865
-----------
SERVICES -- 9.0%
2,883 Clear Channel Communications, Inc. ............... 82,238
736 Fluor Corp. ...................................... 68,335
25 Harvey Weinstein Master L.P. D V.................. 25,200
3,306 Hilton Hotels Corp. H............................. 89,050
7,085 News Corp. Class A................................ 121,575
201 Opap S.A. D....................................... 7,406
394 Opap S.A. B D..................................... 14,488
2,518 Starwood Hotels & Resorts H....................... 144,500
6,000 Sun Microsystems, Inc. B.......................... 30,000
891 United Parcel Service, Inc. Class B............... 72,250
2,362 US Airways Group, Inc. BV......................... 102,170
9,345 Walt Disney Co. .................................. 261,297
10,277 WPP Group plc D................................... 126,431
1,044 XM Satellite Radio Holdings, Inc. Class A BH...... 21,108
-----------
1,166,048
-----------
TECHNOLOGY -- 24.7%
1,271 Adobe Systems, Inc. B............................. 49,827
3,404 America Movil S.A. de C.V. ADR.................... 125,634
9,943 AT&T, Inc. ....................................... 260,609
5,000 Cisco Systems, Inc. B............................. 104,750
</Table>
The accompanying notes are an integral part of these financial statements.
103
THE HARTFORD CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
8v11,735 Citigroup Global Certificate -- Bharti
Televentures D B M.............................. $ 105,378
1,509 Cognex Corp. ..................................... 40,220
5,584 Corning, Inc. B................................... 154,286
10,820 EMC Corp. B....................................... 146,180
9,514 General Electric Co. ............................. 329,079
227 Google, Inc. B.................................... 94,872
2,800 Hewlett-Packard Co. .............................. 90,916
9,673 Hon Hai Precision Industry Co., Ltd. D............ 65,352
1,040 International Business Machines Corp. ............ 85,601
4,553 Juniper Networks, Inc. B.......................... 84,143
3,331 Lockheed Martin Corp. H........................... 252,830
3,493 Medtronic, Inc. H................................. 175,069
2,957 MEMC Electronic Materials, Inc. B................. 120,062
1,375 Mercury Interactive Corp. BH...................... 49,500
5,477 Microsoft Corp. .................................. 132,277
2,250 Mobile Telesystems OJSC ADR B..................... 73,495
3,806 Motorola, Inc. ................................... 81,250
8,969 Oracle Corp. BH................................... 130,858
353 Samsung Electronics Co., Ltd. D................... 240,847
559 SanDisk Corp. BZ.................................. 35,687
5,000 Sprint Nextel Corp. .............................. 124,000
2,697 Turkcell Iletisim Hizmet ADR...................... 45,980
-----------
3,198,702
-----------
TRANSPORTATION -- 2.4%
1,400 ACE Aviation Holdings, Inc. B..................... 38,684
67,533 Air China Ltd. B D................................ 28,078
559 Carnival Corp. H.................................. 26,154
3,680 Royal Caribbean Cruises Ltd. H.................... 153,791
7,080 Ryanair Holdings D B M............................ 59,759
-----------
306,466
-----------
UTILITIES -- 0.4%
987 Exelon Corp. H.................................... 53,298
-----------
Total common stock
(cost $10,140,927).............................. $12,191,560
-----------
PREFERRED STOCKS -- 0.1%
TECHNOLOGY -- 0.1%
22 Goldman Sachs Group B............................. $ 8,832
6,325 SensAble Technologies, Inc. D V................... --
-----------
Total preferred stocks
(cost $11,611).................................. $ 8,832
-----------
CORPORATE BONDS: INVESTMENT GRADE -- 0.2%
FINANCE -- 0.2%
23,500 UBS Luxembourg S.A.,
6.23%, 02/01/2015............................... $ 23,432
-----------
Total corporate bonds: investment grade
(cost $23,960).................................. $ 23,432
-----------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -----------
SHORT-TERM INVESTMENTS -- 13.1%
REPURCHASE AGREEMENTS -- 6.6%
148,375 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 148,375
98,220 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 98,220
150,465 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 150,465
60,604 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 60,604
135,836 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 135,836
22,272 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 22,272
242,415 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 242,415
-----------
858,187
-----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY LENDING --6.5%
832,244 BNY Institutional Cash Reserve Fund............... 832,244
100 Evergreen Institutional Money Market Fund......... 100
6,383 Lehman Brothers Repurchase Agreement.............. 6,383
-----------
838,727
-----------
Total short-term investments
(cost $1,696,914)............................... $ 1,696,914
-----------
Total investments in securities
(cost $11,873,412) O............................ $13,920,738
===========
</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 23.51% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $1,440,470, which represents 11.13% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $11,873,863 and the aggregate gross unrealized appreciation
and depreciation based on that cost were:
<Table>
Unrealized appreciation....................... $2,194,082
Unrealized depreciation....................... (147,207)
----------
Net unrealized appreciation................... $2,046,875
==========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 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
-------- ---------- -------- -------
10/2005-04/2006 1,368 European Capital
Ltd. -- Reg D $17,260
10/2005 25 Harvey Weinstein
Master L.P. -- Reg D 25,200
04/2000 6,325 SensAble
Technologies, Inc. --
Reg D 4,000
05/2005-10/2005 2,362 US Airways Group,
Inc. -- Reg D 38,201
-------
$84,661
=======
</Table>
The aggregate value of these securities at April 30, 2006 was
$143,281, which represents 1.11% 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 April
30, 2006, was $432,076, which represents 3.34% of total net assets.
Z At April 30, 2006, securities valued at $224,991 were designated to
cover open call options written as follows (see Note 2 to accompanying
Notes to Financial Statements):
<Table>
<Caption>
EXERCISE EXPIRATION MARKET PREMIUMS
ISSUER CONTRACTS PRICE DATE VALUE U RECEIVED
------ --------- -------- ---------- ------- --------
Sandisk Corp. 2 $75 July $ (525) $ (619)
2006
Weatherford
International Ltd. 3 $50 August (2,004) (715)
2006
------- -------
Total Value $(2,529) $(1,334)
======= =======
</Table>
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Hong Kong Dollar Sell $4,920 $4,919 05/02/2006 $(1)
===
</Table>
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ---------------------------------------------------------------
Australia 0.7%
- ---------------------------------------------------------------
Brazil 2.1
- ---------------------------------------------------------------
Canada 3.9
- ---------------------------------------------------------------
China 0.6
- ---------------------------------------------------------------
Germany 1.3
- ---------------------------------------------------------------
Greece 0.2
- ---------------------------------------------------------------
India 1.8
- ---------------------------------------------------------------
Ireland 0.5
- ---------------------------------------------------------------
Israel 0.9
- ---------------------------------------------------------------
Italy 0.3
- ---------------------------------------------------------------
Japan 1.8
- ---------------------------------------------------------------
Luxembourg 1.0
- ---------------------------------------------------------------
</Table>
<Table>
- ---------------------------------------------------------------
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
Mexico 1.0
- ---------------------------------------------------------------
Russia 0.6
- ---------------------------------------------------------------
South Korea 2.1
- ---------------------------------------------------------------
Switzerland 0.5
- ---------------------------------------------------------------
Taiwan 0.5
- ---------------------------------------------------------------
Turkey 0.8
- ---------------------------------------------------------------
United Kingdom 3.0
- ---------------------------------------------------------------
United States 70.9
- ---------------------------------------------------------------
Short Term Investments 13.1
- ---------------------------------------------------------------
Other Assets & Liabilities -7.6
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
105
THE HARTFORD CAPITAL APPRECIATION II FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 93.2%
BASIC MATERIALS -- 11.1%
77 Alcoa, Inc. ...................................... $ 2,588
6 Alliant Techsystems, Inc. B....................... 472
284 Aluminum Corp. of China Ltd. D.................... 280
2 Arch Coal, Inc. .................................. 182
-- Areva D........................................... 307
8 BHP Billiton Ltd. ADR............................. 371
227 Breakwater Resources Ltd. B....................... 290
78 Cameco Corp. ..................................... 3,160
4 Century Aluminum Co. B............................ 181
19 Chemtura Corp. ................................... 233
37 Companhia Vale do Rio Doce ADR.................... 1,890
8 Cytec Industries, Inc. ........................... 472
19 Dow Chemical Co. ................................. 786
9 DuPont (E.I.) de Nemours & Co. ................... 410
1 Engelhard Corp. .................................. 36
6 First Quantum Minerals Ltd. ...................... 304
-- Freeport-McMoRan Copper & Gold, Inc. Class B...... 21
18 Inco Ltd. ........................................ 993
3 International Uranium Corp. B..................... 17
34 Ivanhoe Mines Ltd. B.............................. 328
40 Jarden Corp. B.................................... 1,365
5 Kinross Gold Corp. B.............................. 62
13 Lundin Mining Corp. B D........................... 415
22 Michelin (C.G.D.E.) Class B D..................... 1,573
6 Newmont Mining Corp. ............................. 331
170 Oxiana Ltd. D..................................... 444
38 Paladin Resources Ltd. B D........................ 131
4 Peabody Energy Corp. ............................. 234
3 Phelps Dodge Corp. ............................... 288
7 Rio Tinto plc D................................... 405
4 Schnitzer Steel Industries, Inc. ................. 158
3 Silver Standard Resources, Inc. B................. 58
19 Smurfit-Stone Container Corp. B................... 250
5 Tek Cominco Ltd. Class B.......................... 372
10 Temple-Inland, Inc. .............................. 460
4 UEX Corp. B....................................... 17
4 United States Steel Corp. ........................ 260
161 Urasia Energy Ltd. B.............................. 469
35 Vedanta Resources plc D........................... 1,008
2 Wacker Chemie AG M................................ 329
26 Xstrata plc D..................................... 949
2 Yamana Gold, Inc. B............................... 24
217 Zinifex Ltd. D.................................... 1,713
--------
24,636
--------
CAPITAL GOODS -- 4.6%
5 3M Co. ........................................... 410
7 Black & Decker Corp. ............................. 646
25 Boeing Co. ....................................... 2,078
8 Bucyrus International, Inc. ...................... 437
2 Caterpillar, Inc. ................................ 173
31 Goodrich Corp. ................................... 1,375
5 ITT Industries, Inc. ............................. 271
6 Joy Global, Inc. ................................. 374
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
CAPITAL GOODS -- (CONTINUED)
7 Kennametal, Inc. ................................. $ 408
20 Komatsu Ltd. D.................................... 426
17 Lam Research Corp. B.............................. 851
155 Mitsubishi Heavy Industries D..................... 764
4 National Oilwell Varco, Inc. B.................... 248
4 Parker-Hannifin Corp. ............................ 286
5 Sandvik AB D...................................... 304
14 Varian Semiconductor Equipment Associates,
Inc. B.......................................... 468
65 Xerox Corp. B..................................... 915
--------
10,434
--------
CONSUMER CYCLICAL -- 9.2%
24 Abercrombie & Fitch Co. Class A................... 1,439
7 Altria Group, Inc. ............................... 501
35 American Axle & Manufacturing Holdings, Inc. ..... 607
35 California Pizza Kitchen, Inc. B.................. 1,115
9 CBRL Group, Inc. ................................. 350
70 Esprit Holdings Ltd. D............................ 555
13 Federated Department Stores, Inc. ................ 988
69 Foot Locker, Inc. ................................ 1,595
20 GameStop Corp. Class B B.......................... 849
24 Kohl's Corp. B.................................... 1,335
21 Lear Corp. ....................................... 498
7 Lotte Shopping Co. GDR B.......................... 136
8 LVMH Moet Hennessy Louis Vuitton S.A. D........... 798
43 Mitsui & Co., Ltd. D.............................. 651
15 Newell Rubbermaid, Inc. .......................... 400
89 Obayashi Corp. D.................................. 681
45 Ruby Tuesday, Inc. ............................... 1,328
16 Seven & I Holdings Co., Ltd. D.................... 612
40 Standard-Pacific Corp. ........................... 1,278
30 Tiffany & Co. .................................... 1,043
11 Tod's S.p.A. D.................................... 893
4 Toyota Motor Corp. D.............................. 216
26 TRW Automotive Holdings Corp. B................... 570
6 Walter Industries................................. 385
41 Williams-Sonoma, Inc. ............................ 1,700
--------
20,523
--------
CONSUMER STAPLES -- 2.5%
9 Bunge Ltd. ....................................... 464
139 Empresas ICA S.A. B............................... 432
20 Imperial Tobacco Group plc D...................... 624
3 Nestle S.A. D..................................... 992
51 Origin Agritech Ltd. B............................ 890
20 Procter & Gamble Co. ............................. 1,141
26 Royal Numico N.V. B D............................. 1,176
--------
5,719
--------
ENERGY -- 6.8%
6 Canadian Natural Resources........................ 362
40 Canwest Petroleum Corp. B......................... 279
16 Chevron Corp. .................................... 958
12 EnCana Corp. ..................................... 615
22 Exxon Mobil Corp. ................................ 1,375
11 GlobalSantaFe Corp. .............................. 649
</Table>
The accompanying notes are an integral part of these financial statements.
106
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
ENERGY -- (CONTINUED)
18 Halliburton Co. .................................. $ 1,376
2 Hugoton Royalty Trust............................. 50
8 Marathon Oil Corp. ............................... 595
6 Nabors Industries Ltd. B.......................... 215
26 Newpark Resources, Inc. B......................... 173
9 Noble Corp. ...................................... 701
15 Noble Energy, Inc. ............................... 688
5 Occidental Petroleum Corp. ....................... 507
4 OPTI Canada, Inc. B............................... 149
7 Sasol Ltd. ADR.................................... 308
4 Schlumberger Ltd. ................................ 285
1 Southwestern Energy Co. B......................... 26
7 Talisman Energy, Inc. ............................ 395
17 Talisman Energy, Inc. ADR......................... 960
11 Total S.A. ADR.................................... 1,556
28 UGI Corp. ........................................ 632
3 Valero Energy Corp. .............................. 201
7 Weatherford International Ltd. B.................. 379
1 Woodside Petroleum Ltd. D......................... 53
18 Worleyparsons Ltd. D.............................. 264
34 XTO Energy, Inc. ................................. 1,439
--------
15,190
--------
FINANCE -- 14.1%
44 ACE Ltd. ......................................... 2,460
13 Aetna, Inc. ...................................... 489
12 Allstate Corp. ................................... 661
7 AMBAC Financial Group, Inc. ...................... 585
11 American International Group, Inc. ............... 705
76 Apollo Investment Corp. .......................... 1,417
5 Axis Capital Holdings Ltd. ....................... 140
51 Banco Bilbao Vizcaya Argentaria S.A. D............ 1,117
73 Bank of America Corp. ............................ 3,641
21 Capital One Financial Corp. ...................... 1,845
8 CIT Group, Inc. .................................. 437
47 Citigroup, Inc. .................................. 2,333
24 Chardan North China Acquisition Corp. B........... 294
19 Countrywide Financial Corp. ...................... 785
27 Doral Financial Corp. ............................ 210
-- E*Trade Securities Co., Ltd. D.................... 401
12 Erste Bank Der Oesterreichischen Sparkassen
AG D............................................ 720
8 Everest Re Group Ltd. ............................ 749
17 Federal Home Loan Mortgage Corp. ................. 1,021
1 Genworth Financial, Inc. ......................... 18
6 Golden West Financial Corp. ...................... 424
5 Goldman Sachs Group, Inc. ........................ 843
17 Host Hotels & Resorts, Inc. ...................... 367
16 ICICI Bank Ltd. .................................. 450
103 Kerry Properties Ltd. D........................... 364
25 KKR Financial Corp. .............................. 529
15 Nasdaq Stock Market, Inc. B....................... 561
6 Nuveen Investments, Inc. Class A.................. 274
18 Platinum Underwriters Holdings Ltd. .............. 499
29 Royal Bank of Scotland Group plc D................ 933
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
38 Services Acquisition Corp B....................... $ 429
65 Shinsei Bank Ltd. D............................... 454
61 Shizuoka Bank Ltd. D.............................. 644
10 UBS AG D.......................................... 1,118
18 UBS AG............................................ 2,127
115 UniCredito Italiano S.p.A. D...................... 864
7 UnitedHealth Group, Inc. ......................... 348
5 Wellpoint, Inc. B................................. 327
--------
31,583
--------
HEALTH CARE -- 11.7%
20 Amgen, Inc. B..................................... 1,320
7 Amylin Pharmaceuticals, Inc. B.................... 292
12 Astellas Pharma, Inc. D........................... 509
37 AstraZeneca plc ADR............................... 2,045
52 Boston Scientific Corp. B......................... 1,199
21 Cephalon, Inc. B.................................. 1,385
7 Cie Generale d'Optique Essilor International
S.A. D.......................................... 666
3 Cooper Companies, Inc. ........................... 175
23 Covance, Inc. B................................... 1,336
38 Digene Corp. B.................................... 1,556
11 Eisai Co., Ltd. D................................. 502
25 Endo Pharmaceuticals Holdings, Inc. B............. 777
-- Forest Laboratories, Inc. B....................... 20
12 GlaxoSmithKline plc D............................. 355
14 GlaxoSmithKline plc ADR........................... 813
32 Impax Laboratories, Inc. B........................ 294
23 Lilly (Eli) & Co. ................................ 1,196
38 Pharmaceutical Product Development, Inc. ......... 1,352
13 Sanofi-Aventis S.A. D............................. 1,264
26 Sanofi-Aventis S.A. ADR........................... 1,228
142 Schering-Plough Corp. ............................ 2,734
67 Shionogi & Co., Ltd. D............................ 1,123
43 St. Jude Medical, Inc. B.......................... 1,698
11 Teva Pharmaceutical Industries Ltd. ADR........... 426
9 Vertex Pharmaceuticals, Inc. B.................... 313
37 Wyeth............................................. 1,776
--------
26,354
--------
SERVICES -- 9.2%
13 Bankrate, Inc. B.................................. 613
15 Comcast Corp. Class A B........................... 459
41 Comcast Corp. Special Class A B................... 1,258
9 Dow Jones & Co., Inc. ............................ 344
29 Englobal Corp. B.................................. 292
13 Entercom Communications Corp. .................... 350
3 Fluor Corp. ...................................... 256
103 Genius Products, Inc. B........................... 198
23 Grupo Televisa S.A. ADR........................... 488
8 Harrah's Entertainment, Inc. ..................... 686
24 Hilton Hotels Corp. .............................. 644
9 Liberty Global, Inc. B............................ 178
16 MoneyGram International, Inc. .................... 553
28 News Corp. Class A................................ 472
375 Novastar Resource Pipe Private Placement D........ 277
</Table>
The accompanying notes are an integral part of these financial statements.
107
THE HARTFORD CAPITAL APPRECIATION II FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
SERVICES -- (CONTINUED)
3 Opap S.A. D....................................... $ 115
1 Opap S.A. B D..................................... 21
10 R.H. Donnelley Corp. B............................ 544
92 Resources Connection, Inc. B...................... 2,472
14 Sap AG ADR........................................ 759
297 Sirius Satellite Radio, Inc. B.................... 1,389
7 SNC-Lavalin Group, Inc. .......................... 189
29 Starwood Hotels & Resorts......................... 1,681
10 Team, Inc. B...................................... 302
25 Time Warner, Inc. ................................ 433
92 Unisys Corp. B.................................... 575
17 United Parcel Service, Inc. Class B............... 1,411
5 Viacom, Inc. Class B B............................ 191
127 Walt Disney Co. .................................. 3,562
--------
20,712
--------
TECHNOLOGY -- 20.0%
102 Activision, Inc. B................................ 1,449
39 Adobe Systems, Inc. B............................. 1,517
5 America Movil S.A. de C.V. ADR.................... 185
-- American Science & Engineering, Inc. B............ 27
18 Arrow Electronics, Inc. B......................... 662
23 AT&T, Inc. ....................................... 614
44 Celestica, Inc. B................................. 490
61 Cinram International, Inc. ....................... 1,588
121 Cisco Systems, Inc. B............................. 2,527
111 Corning, Inc. B................................... 3,066
46 CSR plc B D....................................... 1,012
13 Electronic Arts, Inc. B........................... 738
66 EMC Corp. B....................................... 889
21 Fairchild Semiconductor International, Inc. B..... 426
41 Flextronics International Ltd. B.................. 461
22 General Electric Co. ............................. 761
1 Google, Inc. B.................................... 251
34 International Rectifier Corp. B................... 1,550
17 Juniper Networks, Inc. B.......................... 322
21 Koninklijke (Royal) Philips Electronics
N.V. B D........................................ 716
11 Liberty Global, Inc. Class C B.................... 226
13 Lockheed Martin Corp. ............................ 994
61 Medtronic, Inc. .................................. 3,077
27 MEMC Electronic Materials, Inc. B................. 1,102
2 Mercury Interactive Corp. B....................... 68
36 Microsoft Corp. .................................. 862
21 Motorola, Inc. ................................... 442
9 NCR Corp. B....................................... 351
96 Network Appliance, Inc. B......................... 3,555
81 Nokia Oyj ADR..................................... 1,838
102 Oracle Corp. B.................................... 1,484
23 Powerwave Technologies, Inc. B.................... 251
7 QLogic Corp. B.................................... 138
45 Qualcomm, Inc. ................................... 2,326
27 Reynolds & Reynolds Co. Class A................... 797
27 Rockwell Collins, Inc. ........................... 1,522
13 Seagate Technology................................ 345
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
TECHNOLOGY -- (CONTINUED)
14 Sony Corp. D...................................... $ 689
30 Sprint Nextel Corp. .............................. 748
20 Tektronix, Inc. .................................. 699
9 Telefonaktiebolaget LM Ericsson ADR............... 331
24 Turkcell Iletisim Hizmet ADR...................... 402
35 Tyco International Ltd. .......................... 925
56 Verifone Holdings, Inc. B......................... 1,728
17 Verizon Communications, Inc. ..................... 545
12 Vishay Intertechnology, Inc. B.................... 190
--------
44,886
--------
TRANSPORTATION -- 3.0%
6 ACE Aviation Holdings, Inc. B..................... 168
11 AirTran Holdings, Inc. B.......................... 151
8 All America Latina Logistica...................... 502
8 American Commercial Lines, Inc. B................. 448
16 AMR Corp. B....................................... 402
6 Carnival Corp. ................................... 276
22 Continental Airlines, Inc. B...................... 578
53 GOL Linhas Aereas Inteligentes S.A. ADR........... 1,965
28 Knight Transportation, Inc. ...................... 542
1 Pinnacle Airlines Corp. B......................... 7
17 UAL Corp. B....................................... 623
5 US Airways Group, Inc. B.......................... 216
22 Yellow Roadway Corp. B............................ 916
--------
6,794
--------
UTILITIES -- 1.0%
26 Fortum Corp. D.................................... 656
7 PPL Corp. ........................................ 212
41 Suntech Power Holdings ADR B...................... 1,416
--------
2,284
--------
Total common stock
(cost $190,230)................................. $209,115
--------
</Table>
<Table>
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 5.2%
REPURCHASE AGREEMENTS -- 5.2%
$2,001 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 2,001
1,325 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,325
2,029 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 2,029
817 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 817
1,832 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,832
</Table>
The accompanying notes are an integral part of these financial statements.
108
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 301 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... $ 301
3,269 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 3,269
--------
11,574
--------
Total short-term investments
(cost $11,574).................................. $ 11,574
--------
Total investments in securities
(cost $201,804) O............................... $220,689
========
</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 27.35% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $30,754, which represents 13.70% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $201,937 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $21,375
Unrealized depreciation......................... (2,623)
-------
Net unrealized appreciation..................... $18,752
=======
</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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at April
30, 2006, was $329, which represents 0.15% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Australian Dollar Buy $ 21 $ 21 05/01/2006 $ --
British Pound Buy 41 40 05/02/2006 1
British Pound Buy 9 9 05/03/2006 --
British Pound Buy 44 43 05/03/2006 1
Canadian Dollar Buy 3 3 05/01/2006 --
Canadian Dollar Buy 3 3 05/02/2006 --
Canadian Dollar Buy 5 5 05/03/2006 --
Euro Buy 7 7 05/02/2006 --
Euro Buy 7 7 05/03/2006 --
Euro Buy 89 89 05/04/2006 --
Japanese Yen Buy 317 314 05/01/2006 3
Japanese Yen Buy 51 51 05/02/2006 --
Japanese Yen Buy 263 263 05/02/2006 --
-----
$ 5
=====
</Table>
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ------------------------------------------------------------------
Australia 1.3%
- ------------------------------------------------------------------
Austria 0.3
- ------------------------------------------------------------------
Bermuda 0.2
- ------------------------------------------------------------------
Brazil 1.9
- ------------------------------------------------------------------
Canada 5.1
- ------------------------------------------------------------------
China 0.8
- ------------------------------------------------------------------
Finland 1.1
- ------------------------------------------------------------------
France 3.3
- ------------------------------------------------------------------
Germany 0.5
- ------------------------------------------------------------------
Greece 0.1
- ------------------------------------------------------------------
Hong Kong 0.2
- ------------------------------------------------------------------
India 0.2
- ------------------------------------------------------------------
Israel 0.2
- ------------------------------------------------------------------
Italy 0.8
- ------------------------------------------------------------------
Japan 3.4
- ------------------------------------------------------------------
Mexico 0.5
- ------------------------------------------------------------------
Netherlands 0.8
- ------------------------------------------------------------------
South Africa 0.1
- ------------------------------------------------------------------
South Korea 0.1
- ------------------------------------------------------------------
Spain 0.5
- ------------------------------------------------------------------
Sweden 0.3
- ------------------------------------------------------------------
Switzerland 1.9
- ------------------------------------------------------------------
Turkey 0.2
- ------------------------------------------------------------------
United Kingdom 3.6
- ------------------------------------------------------------------
United States 65.8
- ------------------------------------------------------------------
Short-Term Investments 5.2
- ------------------------------------------------------------------
Other Assets & Liabilities 1.6
- ------------------------------------------------------------------
TOTAL 100.0%
- ------------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
109
THE HARTFORD CONSERVATIVE ALLOCATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 99.7%
EQUITY FUNDS -- 39.8%
267 Hartford Capital Appreciation Fund, Class Y....... $ 10,990
631 Hartford Disciplined Equity Fund, Class Y......... 8,241
134 Hartford Global Leaders Fund, Class Y............. 2,742
181 Hartford International Capital Appreciation Fund,
Class Y......................................... 2,747
167 Hartford International Opportunities Fund, Class
Y............................................... 2,752
172 Hartford International Small Company Fund, Class
Y............................................... 2,776
187 Hartford MidCap Value Fund, Class Y............... 2,743
234 Hartford Select MidCap Growth Fund, Class Y....... 2,740
125 Hartford SmallCap Growth Fund, Class Y B.......... 4,104
325 Hartford Stock Fund, Class Y...................... 6,884
467 Hartford Value Opportunities Fund, Class Y........ 8,301
--------
Total equity funds
(cost $48,784).................................. $ 55,020
--------
FIXED INCOME FUNDS -- 57.9%
949 Hartford Floating Rate Fund, Class Y.............. 9,626
700 Hartford High Yield Fund, Class Y................. 5,503
407 Hartford Income Fund, Class Y..................... 4,133
1,880 Hartford Inflation Plus Fund, Class Y............. 19,398
1,822 Hartford Short Duration Fund, Class Y............. 17,870
2,230 Hartford Total Return Bond Fund, Class Y.......... 23,432
--------
Total fixed income funds
(cost $82,053).................................. $ 79,962
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
MONEY MARKET FUND -- 2.0%
2,744 Hartford Money Market Fund, Class Y............... $ 2,744
--------
Total money market fund
(cost $2,742)................................... $ 2,744
--------
Total investments in affiliated investment
companies
(cost $133,579) O............................... $137,726
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $133,707 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 6,132
Unrealized depreciation......................... (2,113)
-------
Net unrealized appreciation..................... $ 4,019
=======
</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
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 99.1%
BASIC MATERIALS -- 2.8%
69 Goodyear Tire & Rubber Co. B...................... $ 972
59 Inco Ltd. ........................................ 3,354
130 Kimberly-Clark Corp. ............................. 7,615
--------
11,941
--------
CAPITAL GOODS -- 7.3%
51 3M Co. ........................................... 4,323
49 Caterpillar, Inc. ................................ 3,711
200 Ingersoll-Rand Co. Class A........................ 8,763
113 Lam Research Corp. B.............................. 5,499
76 Parker-Hannifin Corp. ............................ 6,135
58 Pitney Bowes, Inc. ............................... 2,431
--------
30,862
--------
CONSUMER CYCLICAL -- 7.7%
180 Altria Group, Inc. ............................... 13,161
192 D.R. Horton, Inc. ................................ 5,773
142 Office Depot, Inc. B.............................. 5,754
150 Supervalu, Inc. .................................. 4,354
72 Yum! Brands, Inc. ................................ 3,716
--------
32,758
--------
CONSUMER STAPLES -- 4.4%
21 Clorox Co. ....................................... 1,329
176 General Mills, Inc. .............................. 8,664
21 Procter & Gamble Co. ............................. 1,221
107 Weyerhaeuser Co. ................................. 7,512
--------
18,726
--------
ENERGY -- 10.6%
96 Chesapeake Energy Corp. .......................... 3,029
169 Chevron Corp. .................................... 10,337
165 ConocoPhillips.................................... 11,018
59 Devon Energy Corp. ............................... 3,565
127 Exxon Mobil Corp. ................................ 8,017
36 Sunoco, Inc. ..................................... 2,950
91 Valero Energy Corp. .............................. 5,904
--------
44,820
--------
FINANCE -- 21.4%
129 ACE Ltd. ......................................... 7,187
327 Bank of America Corp. ............................ 16,329
61 Capital One Financial Corp. ...................... 5,285
361 Citigroup, Inc. .................................. 18,049
86 Countrywide Financial Corp. ...................... 3,485
32 Everest Re Group Ltd. ............................ 2,930
57 Goldman Sachs Group, Inc. ........................ 9,056
58 Lehman Brothers Holdings, Inc. ................... 8,706
81 MBIA, Inc. ....................................... 4,836
195 St. Paul Travelers Cos., Inc. .................... 8,603
59 State Street Corp. ............................... 3,860
56 UnitedHealth Group, Inc. ......................... 2,785
--------
91,111
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
HEALTH CARE -- 11.0%
160 Abbott Laboratories............................... $ 6,830
87 Amgen, Inc. B..................................... 5,897
51 Amylin Pharmaceuticals, Inc. B.................... 2,225
119 Cardinal Health, Inc. ............................ 8,042
21 Cephalon, Inc. B.................................. 1,366
174 Forest Laboratories, Inc. B....................... 7,006
17 Genzyme Corp. B................................... 1,027
40 Gilead Sciences, Inc. B........................... 2,306
182 McKesson Corp. ................................... 8,839
70 Wyeth............................................. 3,422
--------
46,960
--------
SERVICES -- 9.7%
157 Accenture Ltd. Class A............................ 4,567
103 Cendant Corp. .................................... 1,794
56 Comcast Corp. Class A B........................... 1,747
135 IMS Health, Inc. ................................. 3,672
46 Omnicom Group, Inc. .............................. 4,140
126 Time Warner, Inc. ................................ 2,198
107 United Parcel Service, Inc. Class B............... 8,642
37 Univision Communications, Inc. Class A B.......... 1,313
107 Viacom, Inc. Class B B............................ 4,246
102 Walt Disney Co. .................................. 2,852
165 Waste Management, Inc. ........................... 6,173
--------
41,344
--------
TECHNOLOGY -- 21.7%
288 AT&T, Inc. ....................................... 7,546
85 BellSouth Corp. .................................. 2,871
42 CenturyTel, Inc. ................................. 1,568
445 Cisco Systems, Inc. B............................. 9,324
239 Corning, Inc. B................................... 6,601
152 Dell, Inc. B...................................... 3,988
161 First Data Corp. ................................. 7,659
152 General Electric Co. ............................. 5,272
152 Hewlett-Packard Co. .............................. 4,929
82 International Business Machines Corp. ............ 6,785
82 Lockheed Martin Corp. ............................ 6,186
62 MEMC Electronic Materials, Inc. B................. 2,497
644 Microsoft Corp. .................................. 15,562
92 Motorola, Inc. ................................... 1,964
95 Qualcomm, Inc. ................................... 4,893
99 Sprint Nextel Corp. .............................. 2,448
39 Western Digital Corp. B........................... 825
18 Whirlpool Corp. .................................. 1,571
--------
92,489
--------
TRANSPORTATION -- 1.2%
78 General Dynamics Corp. ........................... 5,105
--------
UTILITIES -- 1.3%
42 FirstEnergy Corp. ................................ 2,140
69 TXU Corp. ........................................ 3,444
--------
5,584
--------
Total common stock
(cost $373,589)................................. $421,700
--------
</Table>
The accompanying notes are an integral part of these financial statements.
111
THE HARTFORD DISCIPLINED EQUITY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 1.4%
REPURCHASE AGREEMENTS -- 1.4%
$1,036 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,036
686 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 686
1,050 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,050
423 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 423
948 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 948
156 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 156
1,692 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,692
--------
Total short-term investments
(cost $5,991)................................... $ 5,991
--------
Total investments in securities
(cost $379,580) O............................... $427,691
========
</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 0.79% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $380,285 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $54,991
Unrealized depreciation......................... (7,585)
-------
Net unrealized appreciation..................... $47,406
=======
</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.
112
THE HARTFORD DIVIDEND & GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 97.2%
BASIC MATERIALS -- 7.8%
1,743 Alcoa, Inc. ...................................... $ 58,882
213 Bowater, Inc. .................................... 5,795
463 Companhia Vale do Rio Doce ADR.................... 23,876
1,338 DuPont (E.I.) de Nemours & Co. ................... 59,017
836 International Paper Co. .......................... 30,400
567 Kimberly-Clark Corp. ............................. 33,198
120 Rio Tinto plc ADR................................. 26,791
223 Rohm & Haas Co. .................................. 11,258
----------
249,217
----------
CAPITAL GOODS -- 4.0%
499 Deere & Co. ...................................... 43,767
407 Parker-Hannifin Corp. ............................ 32,971
530 Pitney Bowes, Inc. ............................... 22,197
1,905 Xerox Corp. B..................................... 26,741
----------
125,676
----------
CONSUMER CYCLICAL -- 6.6%
746 Altria Group, Inc. H.............................. 54,599
387 Avery Dennison Corp. ............................. 24,206
606 Family Dollar Stores, Inc. ....................... 15,158
134 Genuine Parts Co. ................................ 5,827
610 Ltd. Brands, Inc. ................................ 15,633
1,219 McDonald's Corp. ................................. 42,131
681 SYSCO Corp. ...................................... 20,367
728 Wal-Mart Stores, Inc. H........................... 32,795
----------
210,716
----------
CONSUMER STAPLES -- 5.5%
349 Bunge Ltd. H...................................... 18,619
803 Coca-Cola Co. .................................... 33,698
293 Nestle S.A. ADR................................... 22,277
131 PepsiCo, Inc. .................................... 7,600
544 Procter & Gamble Co. ............................. 31,685
909 Tyson Foods, Inc. Class A......................... 13,264
663 Weyerhaeuser Co. ................................. 46,729
----------
173,872
----------
ENERGY -- 16.8%
269 Anadarko Petroleum Corp. ......................... 28,176
672 BP plc ADR........................................ 49,503
1,495 Chevron Corp. .................................... 91,225
701 ConocoPhillips.................................... 46,890
1,019 EnCana Corp. ..................................... 51,011
1,756 Exxon Mobil Corp. ................................ 110,770
562 Royal Dutch Shell plc............................. 38,269
527 Schlumberger Ltd. ................................ 36,409
581 Total S.A. ADR.................................... 80,148
----------
532,401
----------
FINANCE -- 18.2%
480 ACE Ltd. ......................................... 26,681
462 Allstate Corp. ................................... 26,121
674 American International Group, Inc. ............... 43,985
2,190 Bank of America Corp. ............................ 109,337
1,855 Citigroup, Inc. .................................. 92,637
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
598 Federal Home Loan Mortgage Corp. ................. $ 36,489
604 JP Morgan Chase & Co. ............................ 27,411
441 MBIA, Inc. ....................................... 26,282
601 Merrill Lynch & Co., Inc. ........................ 45,848
451 Metlife, Inc. H................................... 23,476
221 PNC Financial Services Group, Inc. ............... 15,781
604 State Street Corp. ............................... 39,473
712 Synovus Financial Corp. .......................... 19,928
372 UBS AG............................................ 43,433
----------
576,882
----------
HEALTH CARE -- 8.5%
1,424 Abbott Laboratories............................... 60,845
499 AstraZeneca plc ADR............................... 27,521
363 Baxter International, Inc. ....................... 13,670
1,542 Bristol-Myers Squibb Co. ......................... 39,138
1,074 Lilly (Eli) & Co. ................................ 56,810
2,450 Schering-Plough Corp. ............................ 47,330
531 Wyeth............................................. 25,829
----------
271,143
----------
SERVICES -- 6.9%
557 Accenture Ltd. Class A............................ 16,198
776 CBS Corp. Class B H............................... 19,776
791 Comcast Corp. Class A BH.......................... 24,467
444 Comcast Corp. Special Class A BH.................. 13,701
171 Harrah's Entertainment, Inc. ..................... 13,919
544 New York Times Co. Class A H...................... 13,491
2,026 Sun Microsystems, Inc. B.......................... 10,132
1,529 Time Warner, Inc. ................................ 26,608
98 United Parcel Service, Inc. Class B............... 7,937
506 Viacom, Inc. Class B B............................ 20,160
360 Warner Music Group Corp. ......................... 9,536
1,169 Waste Management, Inc. ........................... 43,802
----------
219,727
----------
TECHNOLOGY -- 15.4%
2,782 AT&T, Inc. ....................................... 72,916
441 BellSouth Corp. .................................. 14,897
1,354 EMC Corp. B....................................... 18,290
129 Emerson Electric Co. ............................. 10,933
459 First Data Corp. ................................. 21,904
2,688 General Electric Co. ............................. 92,978
398 Intel Corp. ...................................... 7,944
733 International Business Machines Corp. ............ 60,330
359 Lockheed Martin Corp. ............................ 27,256
1,895 Microsoft Corp. .................................. 45,762
1,899 Motorola, Inc. ................................... 40,542
1,375 Sprint Nextel Corp. .............................. 34,110
907 Verizon Communications, Inc. ..................... 29,972
141 Whirlpool Corp. .................................. 12,619
----------
490,453
----------
TRANSPORTATION -- 2.7%
401 CSX Corp. ........................................ 27,458
434 General Dynamics Corp. ........................... 28,453
</Table>
The accompanying notes are an integral part of these financial statements.
113
THE HARTFORD DIVIDEND & GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- (CONTINUED)
1,291 Southwest Airlines Co. ........................... $ 20,946
95 Union Pacific Corp. .............................. 8,656
----------
85,513
----------
UTILITIES -- 4.8%
480 Dominion Resources, Inc. ......................... 35,960
1,066 Exelon Corp. H.................................... 57,557
786 FPL Group, Inc. .................................. 31,110
162 Pinnacle West Capital Corp. ...................... 6,484
482 Progress Energy, Inc. ............................ 20,617
----------
151,728
----------
Total common stock
(cost $2,545,557)............................... $3,087,328
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 2.6%
REPURCHASE AGREEMENTS -- 2.5%
$13,733 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 13,733
9,090 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 9,090
13,926 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 13,926
5,609 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 5,609
12,572 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 12,572
2,061 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 2,061
22,436 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 22,436
----------
79,427
----------
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 0.1%
1,853 BNY Institutional Cash Reserve Fund............... $ 1,853
----------
Total short-term investments
(cost $81,280).................................. $ 81,280
----------
Total investments in securities
(cost $2,626,837) O............................. $3,168,608
==========
</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 11.43% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $2,632,195 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $580,487
Unrealized depreciation........................ (44,074)
--------
Net unrealized appreciation.................... $536,413
========
</Table>
B Currently non-income producing.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
H Security is partially on loan at April 30, 2006.
The accompanying notes are an integral part of these financial statements.
114
THE HARTFORD EQUITY INCOME FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.2%
BASIC MATERIALS -- 10.0%
109 Air Products and Chemicals, Inc. ................. $ 7,441
299 Alcoa, Inc. ...................................... 10,107
302 Dow Chemical Co. ................................. 12,257
150 DuPont (E.I.) de Nemours & Co. ................... 6,597
147 International Paper Co. .......................... 5,325
114 Kimberly-Clark Corp. ............................. 6,698
92 PPG Industries, Inc. ............................. 6,143
--------
54,568
--------
CAPITAL GOODS -- 6.5%
45 3M Co. ........................................... 3,819
189 Caterpillar, Inc. ................................ 14,313
123 Goodrich Corp. ................................... 5,473
183 Pitney Bowes, Inc. ............................... 7,663
50 Rockwell Automation, Inc. ........................ 3,615
--------
34,883
--------
CONSUMER CYCLICAL -- 2.4%
178 Altria Group, Inc. ............................... 12,986
--------
CONSUMER STAPLES -- 6.8%
162 Campbell Soup Co. ................................ 5,194
89 Colgate-Palmolive Co. ............................ 5,267
63 Diageo plc ADR.................................... 4,194
105 General Mills, Inc. .............................. 5,192
168 Kellogg Co. ...................................... 7,760
83 PepsiCo, Inc. .................................... 4,828
60 Weyerhaeuser Co. ................................. 4,249
--------
36,684
--------
ENERGY -- 11.2%
147 BP plc ADR........................................ 10,837
314 ConocoPhillips.................................... 21,010
373 Exxon Mobil Corp. ................................ 23,511
70 Royal Dutch Shell plc ADR......................... 4,979
--------
60,337
--------
FINANCE -- 32.9%
133 ACE Ltd. ......................................... 7,398
130 Allstate Corp. ................................... 7,349
550 Bank of America Corp. ............................ 27,463
200 Chubb Corp. ...................................... 10,321
431 Citigroup, Inc. .................................. 21,523
53 Comerica, Inc. ................................... 2,986
248 Host Hotels & Resorts, Inc. ...................... 5,213
268 JP Morgan Chase & Co. ............................ 12,180
174 Merrill Lynch & Co., Inc. ........................ 13,297
165 National City Corp. .............................. 6,093
174 PNC Financial Services Group, Inc. ............... 12,452
196 SunTrust Banks, Inc. ............................. 15,155
76 UBS AG............................................ 8,927
213 US Bancorp........................................ 6,702
93 Wachovia Corp. ................................... 5,564
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
68 Washington Mutual, Inc. .......................... $ 3,052
169 Wells Fargo & Co. ................................ 11,581
--------
177,256
--------
HEALTH CARE -- 8.2%
163 Abbott Laboratories............................... 6,945
103 AstraZeneca plc ADR............................... 5,700
191 Baxter International, Inc. ....................... 7,192
140 Bristol-Myers Squibb Co. ......................... 3,553
246 Pfizer, Inc. ..................................... 6,221
296 Wyeth............................................. 14,395
--------
44,006
--------
SERVICES -- 2.0%
79 Donnelley (R.R.) & Sons Co. ...................... 2,662
64 Gannett Co., Inc. ................................ 3,499
56 United Parcel Service, Inc. Class B............... 4,540
--------
10,701
--------
TECHNOLOGY -- 8.8%
708 AT&T, Inc. ....................................... 18,553
239 BellSouth Corp. .................................. 8,069
309 General Electric Co. ............................. 10,681
224 Sprint Nextel Corp. .............................. 5,545
133 Verizon Communications, Inc. ..................... 4,392
--------
47,240
--------
UTILITIES -- 9.4%
128 Consolidated Edison, Inc. ........................ 5,532
161 Dominion Resources, Inc. ......................... 12,024
31 Entergy Corp. .................................... 2,168
131 Exelon Corp. ..................................... 7,074
290 FPL Group, Inc. .................................. 11,502
30 PPL Corp. ........................................ 860
114 SCANA Corp. ...................................... 4,470
135 Southern Co. ..................................... 4,358
56 TXU Corp. ........................................ 2,779
--------
50,767
--------
Total common stock
(cost $467,666)................................. $529,428
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 1.9%
REPURCHASE AGREEMENTS -- 1.9%
$1,799 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,799
1,191 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,191
1,824 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,824
</Table>
The accompanying notes are an integral part of these financial statements.
115
THE HARTFORD EQUITY INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 734 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... $ 734
1,647 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,647
270 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 270
2,939 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 2,939
--------
10,404
--------
Total short-term investments
(cost $10,404).................................. $ 10,404
--------
Total investments in securities
(cost $478,070) O............................... $539,832
========
</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 6.43% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $478,139 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $67,952
Unrealized depreciation......................... (6,259)
-------
Net unrealized appreciation..................... $61,693
=======
</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.
116
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 0.7%
FINANCE -- 0.7%
$ 2,000 CS First Boston Mortgage Securities Corp.,
6.60%, 11/15/2019 MK............................ $ 1,989
1,800 CS First Boston Mortgage Securities Corp.,
6.85%, 11/15/2019 MK............................ 1,782
1,500 Lehman Brothers Commercial Mortgage Trust,
6.55%, 07/15/2019 MK............................ 1,504
2,250 Wachovia Bank Commercial Mortgage Trust,
7.65%, 01/15/2018 MK............................ 2,251
----------
Total asset & commercial mortgage backed
securities
(cost $7,534)................................... $ 7,526
----------
CORPORATE BONDS: NON-INVESTMENT -- 12.0%
BASIC MATERIALS -- 4.3%
8,500 Abitibi Consolidated, Inc.,
8.41%, 06/15/2011 K............................. $ 8,628
2,000 Ainsworth Lumber Co.,
9.07%, 04/01/2013 MK............................ 2,000
2,000 Ainsworth Lumber,
8.71%, 10/01/2010 K............................. 2,000
2,000 Airgas, Inc.,
9.125%, 10/01/2011.............................. 2,105
10,000 Bowater, Inc.,
7.91%, 03/15/2010 K............................. 10,100
8,055 Lyondell Chemical Co.,
11.125%, 07/15/2012............................. 8,901
1,500 Macdermid, Inc.,
9.125%, 07/15/2011.............................. 1,575
6,195 Nova Chemicals Corp.,
7.56%, 11/15/2013 K............................. 6,195
2,500 OM Group, Inc.,
9.25%, 12/15/2011............................... 2,581
3,250 Playtex Products, Inc.,
9.375%, 06/01/2011.............................. 3,388
----------
47,473
----------
CONSUMER CYCLICAL -- 1.9%
2,000 Amerigas Partners L.P.,
7.25%, 05/20/2015............................... 1,990
4,115 Autonation, Inc.,
7.05%, 04/15/2013 MK............................ 4,187
2,000 Builders Firstsource, Inc.,
9.00%, 02/15/2012 K............................. 2,075
2,000 GSC Holdings Corp.,
8.87%, 10/01/2011 MK............................ 2,063
7,500 Levi Strauss & Co.,
9.74%, 04/01/2012 K............................. 7,809
3,500 Stater Brothers Holdings, Inc.,
8.41%, 06/15/2010 K............................. 3,561
----------
21,685
----------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CONSUMER STAPLES -- 0.7%
3,751 Land O'Lakes, Inc.,
8.75%, 11/15/2011............................... $ 3,910
2,745 Nutro Products, Inc.,
9.08%, 10/15/2013 MKQ........................... 2,800
1,150 Pilgrim's Pride Corp.,
9.625%, 09/15/2011.............................. 1,199
----------
7,909
----------
FINANCE -- 1.8%
4,000 Crescent Real Estate Equities L.P.,
9.25%, 04/15/2009............................... 4,180
1,500 Ford Motor Credit Co.,
6.64%, 01/15/2010 K............................. 1,358
2,000 Ford Motor Credit Co.,
7.68%, 11/02/2007 K............................. 1,963
8,000 General Motors Acceptance Corp.,
5.65%, 05/18/2006 K............................. 7,998
4,000 General Motors Acceptance Corp.,
6.125%, 09/15/2006.............................. 3,969
----------
19,468
----------
SERVICES -- 1.6%
3,000 Aztar Corp.,
9.00%, 08/15/2011............................... 3,157
8,500 Cablevision Systems Corp.,
9.62%, 04/01/2009 K............................. 8,989
3,135 Cenveo Corp.,
9.625%, 03/15/2012.............................. 3,346
1,500 Primedia, Inc.,
9.72%, 05/15/2010 K............................. 1,534
1,000 Time Warner Telecom Holdings, Inc.,
8.85%, 02/15/2011 K............................. 1,020
----------
18,046
----------
TECHNOLOGY -- 1.4%
2,000 Dobson Cellular Systems,
8.375%, 11/01/2011.............................. 2,120
2,000 Dobson Cellular Systems,
9.43%, 11/01/2011 K............................. 2,070
2,000 Dobson Communications Corp.,
9.32%, 10/15/2012 K............................. 2,030
2,500 Qwest Communications International,
8.25%, 02/15/2009 K............................. 2,550
2,390 Qwest Corp.,
8.16%, 06/15/2013 K............................. 2,602
4,000 Rogers Wireless, Inc.,
8.04%, 12/15/2010 K............................. 4,120
----------
15,492
----------
UTILITIES -- 0.3%
3,000 Calpine Generating Co.,
8.58%, 04/01/2009 VKX........................... 3,135
----------
Total corporate bonds: non-investment
(cost $132,385)................................. $ 133,208
----------
</Table>
The accompanying notes are an integral part of these financial statements.
117
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- 87.6%
BASIC MATERIALS -- 13.4%
625 Basell Finance Co. Term Loan B2,
7.31%, 09/15/2013 Z............................. $ 635
125 Basell Finance Co. Term Loan B4,
7.31%, 09/15/2013 Z............................. 127
625 Basell Finance Co.,
7.67%, 09/15/2013 Z............................. 635
125 Basell Finance Co.,
7.97%, 09/15/2013 Z............................. 127
4,988 Blount, Inc.,
6.62%, 08/09/2010 Z............................. 5,025
1,000 Brenntag AG,
11.07%, 12/22/2012 Z............................ 1,028
196 Brenntag Group,
6.97%, 01/12/2014 Z............................. 200
804 Brenntag Group,
7.33%, 01/12/2014 Z............................. 815
1,667 Calumet Lubricants Co. L.P.,
8.15%, 12/01/2012 Z............................. 1,688
1,663 Calumet Lubricants Co. L.P.,
8.28%, 12/01/2012 Z............................. 1,683
1,500 Carl Zeiss Vision,
8.36%, 04/13/2014 Z............................. 1,508
2,000 Carl Zeiss Vision,
10.40%, 06/15/2014 Z............................ 2,035
3,980 Celanese Holdings LLC,
6.94%, 04/06/2011 Z............................. 4,033
993 Coffeyville Resources,
7.50%, 07/05/2012 Z............................. 1,005
3,997 Coffeyville Resources,
11.38%, 07/08/2013 Z............................ 4,110
4,000 Columbian Chemicals Co.,
6.65%, 03/15/2013 Z............................. 4,020
1,938 Compass Minerals Group, Inc.,
6.41%, 12/22/2012 Z............................. 1,946
1,457 Covalence Specialty Materials Corp.,
6.69%, 02/10/2013 Z............................. 1,469
3,000 Covalence Specialty Materials Corp.,
8.08%, 02/10/2013 Z............................. 3,054
1,000 Crown Holdings, Inc.,
6.44%, 11/15/2012 Z............................. 1,005
2,488 Eastman Kodak Co.,
7.24%, 10/19/2012 Z............................. 2,513
11,973 Georgia-Pacific Corp.,
6.86%, 02/14/2013 Z............................. 12,033
3,000 Georgia-Pacific Corp.,
7.94%, 02/14/2014 Z............................. 3,062
7,000 Goodyear Tire & Rubber,
7.89%, 04/30/2010 Z............................. 7,085
2,500 Goodyear Tire & Rubber,
8.67%, 04/30/2010 Z............................. 2,523
4,982 Graham Packaging Co. L.P.,
7.03%, 10/07/2011 Z............................. 5,032
2,500 Graham Packaging Co. L.P.,
9.06%, 04/07/2012 Z............................. 2,550
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
BASIC MATERIALS -- (CONTINUED)
1,915 Graphic Packaging,
7.32%, 08/08/2010 Z............................. $ 1,942
760 Hexion Specialty Chemicals Tranche B1,
7.50%, 05/31/2012 Z............................. 760
1,151 Hexion Specialty Chemicals Tranche B2,
7.50%, 05/31/2012 Z............................. 1,151
11,349 Huntsman International, Inc.,
6.64%, 08/16/2012 Z............................. 11,405
500 Ineos Group Holdings plc,
5.48%, 02/01/2013 Z............................. 643
3,750 Ineos Group Holdings plc,
7.31%, 02/01/2013 Z............................. 3,797
3,750 Ineos Group Holdings plc,
7.81%, 02/01/2013 Z............................. 3,806
885 Innophos, Inc.,
7.16%, 08/01/2010 Z............................. 896
8,000 ISP Chemco, Inc.,
6.46%, 02/16/2013 Z............................. 8,057
7,207 Jarden Corp.,
6.70%, 01/24/2012 Z............................. 7,245
996 Jarden Corp.,
6.75%, 01/24/2012 Z............................. 999
2,397 Jarden Corp.,
6.92%, 01/24/2012 Z............................. 2,418
2,750 John Maneely Co.,
8.05%, 03/24/2013 Z............................. 2,792
993 Mega Bloks, Inc.,
6.91%, 07/26/2012 Z............................. 1,001
1,990 Mueller Group, Inc.,
6.93%, 10/03/2012 Z............................. 2,014
1,981 Nalco Co.,
6.50%, 11/04/2010 Z............................. 2,003
2,990 NCI Building Systems, Inc.,
6.69%, 06/18/2010 Z............................. 3,003
995 PQ Corp.,
7.00%, 02/11/2012 Z............................. 1,008
478 Propex Fabrics, Inc.,
7.25%, 08/17/2012 Z............................. 480
438 Smurfit-Stone Container Enterprises, Inc.,
6.43%, 11/01/2010 Z............................. 444
1,068 Smurfit-Stone Container Enterprises, Inc.,
7.04%, 11/01/2011 Z............................. 1,082
2,389 Smurfit-Stone Container Enterprises, Inc.,
7.08%, 11/01/2011 Z............................. 2,421
3,647 Smurfit-Stone Container Enterprises, Inc.,
7.11%, 11/01/2010 Z............................. 3,693
6,738 Solo Cup Co.,
7.45%, 02/27/2011 Z............................. 6,804
1,500 Solo Cup Co.,
7.58%, 03/31/2012 GQ............................ 1,530
8,233 Tupperware Corp.,
6.38%, 11/07/2012 Z............................. 8,229
----------
150,569
----------
</Table>
The accompanying notes are an integral part of these financial statements.
118
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- (CONTINUED)
CAPITAL GOODS -- 2.0%
6,077 ACCO Brands Corp.,
6.57%, 08/15/2012 Z............................. $ 6,111
2,000 Babcock & Wilcox Co.,
1.00%, 02/14/2012 GD............................ 2,000
1,000 Babcock & Wilcox Co.,
7.63%, 02/14/2012 Z............................. 1,010
1,489 Mid-Western Aircraft Systems, Inc.,
7.32%, 12/31/2011 Z............................. 1,508
3,000 Nacco Material Handling Group,
2.00%, 03/22/2013 GD............................ 3,026
1,995 Polymer Group, Inc.,
7.21%, 11/22/2012 Z............................. 2,016
1,976 Targus Group International,
7.57%, 11/22/2012 Z............................. 2,005
1,000 Targus Group International,
12.43%, 11/22/2013 Z............................ 1,000
1,976 Visant Holding Corp.,
6.75%, 10/04/2011 Z............................. 1,997
----------
20,673
----------
CONSUMER CYCLICAL -- 10.6%
7,500 American General LLC,
13.60%, 05/02/2012 Z............................ 7,819
1,479 Axletech International,
6.96%, 10/20/2012 Z............................. 1,497
2,000 Axletech International,
11.49%, 04/20/2013 Z............................ 2,015
496 Brand Services, Inc.,
8.02%, 01/15/2012 Z............................. 502
4,000 Burlington Coat Factory Warehouse Corp.,
7.16%, 05/28/2013 Z............................. 3,979
1,962 Collins & Aikman,
7.93%, 05/17/2007 ZX............................ 1,981
2,000 Contech Construction Products,
6.93%, 01/31/2013 Z............................. 2,025
1,900 Custom Building Products,
7.02%, 10/20/2011 Z............................. 1,919
6,000 Dana Corp.,
7.20%, 03/03/2008 ZX............................ 6,040
3,000 Delphi Corp.,
7.30%, 10/08/2007 ZX............................ 3,041
6,000 Dunkin Brands, Inc.,
7.32%, 03/01/2013 Z............................. 6,000
3,500 Easton-Bell Sports, Inc.,
6.80%, 03/16/2012 Z............................. 3,536
2,750 Federal-Mogul Corp.,
6.81%, 12/09/2006 ZX............................ 2,764
7,000 Lear Corp.,
7.56%, 04/25/2012 ZQ............................ 7,009
3,491 Invista,
6.51%, 04/30/2010 Z............................. 3,504
8,501 Jean Coutu Group,
7.53%, 07/30/2011 Z............................. 8,574
1,304 Longyear Holdings, Inc. First Lien,
7.98%, 07/28/2012 Z............................. 1,320
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
CONSUMER CYCLICAL -- (CONTINUED)
188 Longyear Holdings, Inc. First Lien Canadian,
7.98%, 07/28/2012 Z............................. $ 191
2,000 Longyear Holdings, Inc.,
11.92%, 11/28/2013 Z............................ 2,030
3,978 Masonite International Corp. Canadian Term Loan,
7.14%, 04/30/2010 Z............................. 3,938
3,985 Masonite International Corp. US Term Loan,
7.14%, 04/30/2010 Z............................. 3,952
7,272 Neiman Marcus Group,
7.29%, 04/06/2013 Z............................. 7,366
3,957 Nortek, Inc.,
6.62%, 08/27/2011 Z............................. 3,981
1,000 RJ Tower Corp.,
8.24%, 02/02/2007 ZX............................ 1,012
5,486 Roundy's Supermarkets, Inc.,
7.79%, 11/03/2011 Z............................. 5,555
2,000 Sears Canada, Inc.,
6.71%, 12/16/2012 Z............................. 2,023
2,000 Sports Authority, Inc.,
7.38%, 04/25/2013 GQ............................ 1,998
3,500 Standard Pacific Corp.,
6.63%, 04/25/2013 GQ............................ 3,500
1,496 Tensar Corp.,
7.68%, 10/28/2012 Z............................. 1,504
12,500 Toys R Us, Inc.,
7.84%, 11/30/2008 ZQ............................ 12,495
3,491 TRW Automotive,
6.12%, 06/30/2012 Z............................. 3,496
1,496 United Subcontractors, Inc.,
7.70%, 12/27/2012 Z............................. 1,496
----------
118,062
----------
CONSUMER STAPLES -- 4.0%
1,368 American Seafoods Group,
6.73%, 09/30/2011 Z............................. 1,384
750 American Seafoods Group,
6.86%, 09/30/2012 Z............................. 759
1,375 Birds Eye Foods, Inc.,
7.67%, 08/19/2008 Z............................. 1,387
196 Chiquita Brands International,
6.83%, 06/28/2012 Z............................. 197
8,472 Chiquita Brands International,
6.93%, 06/28/2012 Z............................. 8,532
6,440 Commonwealth Brands, Inc.,
6.95%, 12/22/2012 Z............................. 6,513
930 Dole Food Co.,
6.67%, 04/12/2013 Z............................. 931
4,000 Dole Food Co.,
9.67%, 07/22/2010 Z............................. 4,160
2,093 Dole Food Co. Term Loan,
8.50%, 04/12/2013 Z............................. 2,095
6,977 Dole Food Co. Tranche C,
8.50%, 04/12/2013 Z............................. 6,973
381 Johnson Diversey, Inc.,
2.00%, 12/16/2010 GQ............................ 382
</Table>
The accompanying notes are an integral part of these financial statements.
119
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- (CONTINUED)
CONSUMER STAPLES -- (CONTINUED)
5,108 Johnson Diversey, Inc.,
7.15%, 12/16/2011 Z............................. $ 5,170
1,000 Michael Foods, Inc.,
6.70%, 11/21/2010 Z............................. 1,010
3,433 New Page Corp.,
7.91%, 05/02/2011 Z............................. 3,437
1,000 Nutro Products, Inc.,
7.13%, 04/21/2013 Z............................. 1,009
498 Otis Spunkmeyer, Inc.,
7.72%, 08/26/2012 Z............................. 503
404 Pierre Foods, Inc.,
6.84%, 06/30/2010 Z............................. 408
----------
44,850
----------
ENERGY -- 1.2%
2,993 Citgo Petroleum Corp.,
6.21%, 11/14/2012 Z............................. 2,997
1,012 Invensys plc,
9.22%, 09/05/2009 Z............................. 1,033
1,349 Magellan Midstream Holdings L.P.,
6.86%, 07/31/2012 Z............................. 1,363
1,750 MEG Energy Corp.,
2.00%, 04/03/2013 GQ............................ 1,750
1,750 MEG Energy Corp.,
7.00%, 04/03/2013 Z............................. 1,769
774 Targa Resources, Inc.,
7.05%, 10/31/2012 Z............................. 782
3,210 Targa Resources, Inc.,
7.24%, 10/31/2012 Z............................. 3,245
497 Universal Compression,
6.48%, 02/15/2012 Z............................. 502
----------
13,441
----------
FINANCE -- 10.3%
4,000 Ameritrade Holding Corp.,
6.49%, 12/31/2011 Z............................. 4,012
2,000 Ameritrade Holding Corp.,
6.61%, 12/31/2011 ZQ............................ 2,002
4,000 Avis Budget Car Rental, LLC,
6.38%, 04/19/2012 G............................. 3,999
3,000 Buckeye Check Cashing, Inc.,
7.88%, 05/01/2012 G............................. 3,026
8,000 Capital Automotive L.P.,
6.57%, 12/20/2010 Z............................. 8,058
2,500 Compbenefits Corp.,
7.88%, 04/10/2012 Z............................. 2,509
2,505 Conseco, Inc.,
6.60%, 06/22/2010 Z............................. 2,516
13,000 General Growth Properties,
6.20%, 02/24/2010 ZQ............................ 12,975
651 Hertz Corp.,
1.13%, 12/21/2012 ZQ............................ 656
3,784 Hertz Corp.,
7.06%, 12/21/2012 Z............................. 3,815
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
556 Hertz Corp.,
7.14%, 12/21/2012 Z............................. $ 560
5,844 Lion Gables Realty L.P.,
6.57%, 09/30/2006 Z............................. 5,858
9,392 LNR Properties Corp.,
7.77%, 02/03/2008 Z............................. 9,452
2,500 Mattamy Funding Partnership,
9.00%, 04/11/2013 Z............................. 2,525
4,006 Newkirk Master L.P. NMLP,
6.53%, 08/10/2012 ZQ............................ 4,031
2,170 Newkirk Master L.P. T-Two,
6.53%, 08/10/2012 Z............................. 2,181
2,000 November 2005 Land Investors LLC,
7.88%, 05/01/2011 GQ............................ 2,008
2,990 Pivotal Promontory LLC,
7.77%, 08/30/2010 Z............................. 2,973
12,500 Residential Capital Corp.,
6.27%, 07/28/2008 Z............................. 12,430
4,000 Riley Mezzanine I Corp.,
9.22%, 02/03/2008 Z............................. 4,040
2,993 Sedgwick CMS Holdings, Inc.,
6.98%, 02/24/2013 Z............................. 3,021
2,000 Technical Olympic,
7.75%, 08/01/2012 Z............................. 2,020
5,000 The Rouse Co.,
6.25%, 08/24/2006 Z............................. 4,997
8,000 Trizec Properties, Inc.,
6.31%, 04/07/2007 Z............................. 7,990
1,093 United Rentals, Inc.,
6.55%, 02/14/2011 ZQ............................ 1,104
5,362 United Rentals, Inc.,
6.93%, 02/14/2011 ZQ............................ 5,413
----------
114,171
----------
HEALTH CARE -- 7.9%
1,496 Accellent, Inc.,
6.80%, 11/21/2012 Z............................. 1,506
3,000 AGA Medical Corp.,
7.38%, 04/26/2013 GQ............................ 3,022
1,000 Alliance Imaging, Inc.,
7.54%, 12/29/2011 Z............................. 1,004
2,000 Ameripath, Inc.,
7.06%, 10/31/2013 G............................. 2,019
1,000 DJ Orthopedics LLC,
6.56%, 04/07/2013 Z............................. 1,004
13,500 Fresenius Medical Care AG,
6.37%, 03/23/2012 Z............................. 13,494
1,000 Golden Gate National,
7.96%, 03/14/2011 Z............................. 1,007
1,949 Healthcare Partners LLC,
6.83%, 03/02/2011 Z............................. 1,966
12,000 Healthsouth Corp.,
8.12%, 03/07/2013 Z............................. 12,110
3,500 Healthsouth Corp.,
9.40%, 03/07/2007 Z............................. 3,471
</Table>
The accompanying notes are an integral part of these financial statements.
120
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
1,990 Healthtronics, Inc.,
6.72%, 03/23/2011 Z............................. $ 1,975
794 Lifecare Holdings, Inc.,
7.07%, 08/11/2012 Z............................. 751
4,124 Lifepoint Hospitals, Inc.,
6.14%, 04/15/2012 Z............................. 4,142
2,000 Multiplan Corp.,
6.86%, 04/13/2013 Z............................. 2,013
5,500 National Renal Institutes, Inc.,
8.94%, 03/31/2013 ZQ............................ 5,541
4,000 Quintiles Transnational Corp.,
6.82%, 03/31/2013 Z............................. 4,024
2,488 Renal Advantage, Inc.,
7.37%, 10/05/2012 Z............................. 2,519
2,476 Select Medical Corp.,
6.51%, 02/24/2012 Z............................. 2,452
1,489 Skilled Healthcare Group, Inc.,
7.78%, 06/15/2012 Z............................. 1,504
3,990 Vanguard Health Holdings Company II LLC,
6.86%, 09/23/2011 Z............................. 4,046
5,627 Ventiv Health, Inc.,
6.44%, 10/05/2011 Z............................. 5,648
162 Warner Chilcott Corp.,
7.13%, 01/18/2012 ZQ............................ 163
3,777 Warner Chilcott Corp.,
7.32%, 01/18/2012 Z............................. 3,793
810 Warner Chilcott Corp.,
7.33%, 01/18/2012 ZQ............................ 813
1,522 Warner Chilcott Corp. Term Loan C,
7.54%, 01/18/2005 Z............................. 1,534
703 Warner Chilcott Corp. Term Loan D,
7.54%, 01/18/2012 Z............................. 709
5,000 Waterpik Technologies, Inc.,
13.25%, 10/20/2013 Z............................ 5,075
----------
87,305
----------
SERVICES -- 19.0%
1,000 24 Hour Fitness Worldwide, Inc.,
7.85%, 06/08/2012 Z............................. 1,007
4,988 Acosta, Inc.,
7.07%, 12/06/2012 Z............................. 5,044
1,000 Acosta, Inc.,
10.63%, 06/06/2013 Z............................ 1,027
5,000 Advantage Sales & Marketing, Inc.,
6.90%, 03/31/2013 Z............................. 5,037
3,990 Affiliated Computer Services, Inc.,
6.43%, 03/20/2013 Z............................. 4,020
7,871 Affinion Group,
7.51%, 10/07/2012 Z............................. 7,894
10,230 Allied Waste,
6.72%, 01/15/2012 Z............................. 10,257
4,629 Allied Waste,
6.79%, 01/15/2012 Z............................. 4,643
3,990 AMC Entertainment, Inc.,
7.05%, 01/26/2013 Z............................. 4,028
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SERVICES -- (CONTINUED)
3,000 Bresnan Communications LLC,
6.92%, 09/29/2013 Z............................. $ 3,031
5,268 Carmike Cinemas, Inc.,
7.38%, 05/19/2012 Z............................. 5,304
3,484 CCM Merger, Inc.,
6.77%, 08/01/2012 Z............................. 3,500
3,000 Century Theaters, Inc.,
6.70%, 03/01/2013 Z............................. 3,027
2,997 Coinmach Corp.,
7.69%, 12/16/2010 Z............................. 3,041
2,000 CSC Holdings, Inc.,
6.15%, 02/24/2012 Z............................. 2,001
5,000 CSC Holdings, Inc.,
6.66%, 03/24/2013 Z............................. 5,017
437 Dex Media West LLC,
6.30%, 03/09/2010 Z............................. 438
1,995 F & W Publications, Inc.,
7.82%, 08/05/2012 Z............................. 2,002
3,250 Fender Musical Instrument Group,
9.21%, 09/30/2012 Z............................. 3,299
1,808 Fidelity National Information Services, Inc.,
6.34%, 03/09/2013 Z............................. 1,811
3,473 Fidelity National Information Services, Inc.,
6.58%, 03/09/2013 Z............................. 3,490
2,000 Frontiervision Operating Partners, L.P.,
9.24%, 12/19/2006 ZX............................ 2,002
106 FSC Acquisition, LLC,
1.11%, 08/01/2012 GQ............................ 106
887 FSC Acquisition, LLC,
7.09%, 08/01/2012 Z............................. 888
499 Gray Television, Inc.,
6.48%, 05/22/2013 Z............................. 502
1,496 Gray Television, Inc.,
6.49%, 11/22/2012 Z............................. 1,504
2,000 Greektown Holdings LLC,
7.55%, 12/01/2012 Z............................. 2,030
5,500 Hallmark Entertainment LLC,
7.49%, 12/31/2011 Z............................. 5,569
2,700 Hilton Hotels Corp.,
6.25%, 02/12/2013 Z............................. 2,709
995 Hit Entertainment, Inc.,
7.17%, 08/26/2012 Z............................. 1,001
1,990 Isle of Capri Black Hawk LLC,
6.76%, 10/24/2011 Z............................. 2,000
6,412 Lake At Las Vegas Joint Venture LLC,
7.46%, 02/01/2010 Z............................. 6,434
3,250 LBI Media, Inc.,
6.62%, 05/01/2012 GQ............................ 3,254
4,700 MGM Holdings II, Inc.,
7.18%, 04/08/2012 Z............................. 4,748
14,143 MGM Mirage,
6.26%, 04/25/2010 Z............................. 14,148
2,494 Montecito Broadcast Group LLC,
7.72%, 01/25/2013 Z............................. 2,531
1,000 New Publications, Inc.,
12.32%, 02/05/2013 Z............................ 985
</Table>
The accompanying notes are an integral part of these financial statements.
121
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- (CONTINUED)
SERVICES -- (CONTINUED)
3,000 Newspaper Holdings, Inc.,
6.19%, 08/24/2012 Z............................. $ 3,008
4,488 Opbiz LLC,
6.09%, 08/31/2010 Z............................. 4,376
8 Opbiz LLC,
8.97%, 08/31/2010 Z............................. 8
995 PBI Media, Inc.,
7.29%, 09/30/2012 Z............................. 995
1,000 PBI Media, Inc.,
11.13%, 09/30/2013 Z............................ 990
1,990 Penn National Gaming, Inc.,
6.66%, 07/05/2012 Z............................. 2,010
2,213 Per-Se Technologies, Inc.,
7.23%, 01/05/2013 Z............................. 2,240
3,812 Pinnacle Foods,
8.23%, 11/25/2010 Z............................. 3,868
2,993 Quebecor Media, Inc.,
7.07%, 01/17/2013 Z............................. 3,030
6,982 Raycom TV Broadcasting, Inc.,
6.50%, 07/27/2013 Z............................. 6,999
3,985 Regal Cinemas, Inc.,
6.68%, 11/10/2010 Z............................. 4,007
6,500 Sensata Technologies,
6.85%, 04/21/2013 ZQ............................ 6,526
1,247 SFX Entertainment, Inc.,
7.23%, 06/21/2013 Z............................. 1,249
1,000 Southern Graphic Systems,
1.50%, 12/30/2011 GQ............................ 1,003
1,995 Southern Graphic Systems,
7.29%, 12/30/2011 Z............................. 2,015
5,000 Southwest Sports Group LLC,
7.40%, 12/22/2010 Z............................. 5,038
9,952 Sungard Data Systems, Inc.,
7.15%, 08/08/2012 Z............................. 10,061
3,951 US Investigations Services,
7.35%, 10/14/2012 Z............................. 4,006
989 US Investigations Services,
7.43%, 10/14/2012 Z............................. 1,003
2,333 Venetian Macau Ltd. Delayed Draw Term Note,
7.88%, 04/06/2012 GQ............................ 2,336
4,667 Venetian Macau Ltd. Term Loan,
7.88%, 04/06/2013 GQ............................ 4,728
2,500 Washington Country Casino Resort LLC,
8.88%, 11/07/2011 VZ............................ 2,500
2,000 Wembley, Inc.,
8.71%, 08/15/2012 Z............................. 2,033
1,500 Wideopen,
7.38%, 05/01/2013 G............................. 1,500
1,000 Wideopen,
9.93%, 05/01/2013 G............................. 1,020
500 Wideopen,
10.13%, 05/01/2013 G............................ 500
2,815 Yonkers Racing Corp.,
5.38%, 08/12/2011 ZQ............................ 2,861
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SERVICES -- (CONTINUED)
1,685 Yonkers Racing Corp.,
6.65%, 08/12/2011 ZQ............................ $ 1,713
----------
210,952
----------
TECHNOLOGY -- 9.2%
1,989 Adelphia Communications Corp.,
6.90%, 08/07/2006 ZX............................ 1,994
1,500 Alaska Communication Systems Holdings, Inc. 2006
Incremental Loan,
6.69%, 02/01/2012Z.............................. 1,511
4,000 Alaska Communication Systems Holdings, Inc. Term
Loan,
6.69%, 02/01/2012Z.............................. 4,024
1,882 American Reprographics Co. LLC,
6.70%, 12/20/2012 Z............................. 1,897
1,500 Aspect Software, Inc.,
7.44%, 09/22/2012 Z............................. 1,519
3,000 Caribe Information Investment, Inc.,
7.35%, 03/29/2013 Z............................. 3,028
2,500 CCC Information Services Group, Inc.,
7.58%, 02/10/2013 Z............................. 2,530
2,987 Cellnet Data Systems, Inc.,
7.90%, 04/26/2012 Z............................. 3,014
9,006 Charter Communications Operating LLC,
7.69%, 04/27/2011 Z............................. 9,025
1,654 Charter Communications Operating LLC,
7.75%, 04/28/2013 ZQ............................ 1,660
1,498 Charter Communications Operating LLC,
7.86%, 04/27/2010 Z............................. 1,498
3,980 Cincinnati Bell, Inc.,
6.30%, 08/31/2012 Z............................. 4,007
2,310 Cinram International,
6.99%, 09/30/2009 Z............................. 2,315
2,455 Davita, Inc.,
6.47%, 10/05/2011 Z............................. 2,467
980 Davita, Inc.,
6.95%, 07/07/2012 Z............................. 989
2,000 Extensity S.A.R.L.,
7.56%, 03/14/2011 Z............................. 2,006
3,115 Intelsat Ltd.,
6.70%, 07/28/2011 Z............................. 3,135
2,985 Leap Wireless International, Inc.,
7.41%, 01/10/2011 Z............................. 3,024
2,986 Leap Wireless International, Inc.,
7.42%, 01/10/2011 Z............................. 3,023
1,000 Madison River Capital LLC,
7.26%, 07/29/2012 Z............................. 1,012
4,500 Mediacom Broadband,
6.87%, 01/31/2015 GQ............................ 4,500
2,500 Mediacom Broadband,
6.88%, 01/31/2015 GQ............................ 2,500
2,000 Mediacom LLC,
6.50%, 09/30/2012 Z............................. 1,996
1,000 Mediacom LLC,
6.88%, 01/31/2015 GQ............................ 1,000
</Table>
The accompanying notes are an integral part of these financial statements.
122
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SENIOR FLOATING RATE LOAN INTERESTSC -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1,247 Merrill Communications LLC,
7.24%, 12/22/2012 Z............................. $ 1,255
1,489 Ntelos, Inc.,
7.47%, 08/24/2011 Z............................. 1,508
3,000 Ntelos, Inc.,
9.94%, 02/24/2012 Z............................. 3,040
2,000 Olympus Cable Holding LLC,
9.90%, 09/30/2010 ZX............................ 1,954
11,477 R.H. Donnelley, Inc.,
6.41%, 06/30/2011 ZQ............................ 11,508
208 RCN Corp.,
9.12%, 12/21/2011 Z............................. 212
2,907 RCN Corp.,
9.21%, 12/21/2011 Z............................. 2,929
3,388 Spectrum Brands, Inc.,
7.37%, 02/06/2012 Z............................. 3,398
2,000 Stratos Global Corp.,
7.73%, 02/13/2012 Z............................. 2,020
7,000 UPC Financing Partnership,
7.28%, 09/30/2012 ZQ............................ 7,045
3,000 UPC Financing Partnership,
7.73%, 12/31/2011 ZQ............................ 3,023
----------
101,566
----------
TRANSPORTATION -- 3.3%
7,500 Delta Air Lines, Inc.,
10.82%, 03/16/2008 ZX........................... 7,697
2,494 Kenan Advantage Group,
7.95%, 12/16/2011 Z............................. 2,519
2,000 Northwest Airlines, Inc.,
10.06%, 11/23/2009 ZX........................... 2,028
5,000 Northwest Airlines, Inc.,
11.54%, 11/23/2010 ZX........................... 5,104
1,649 Ozburn-Hessey Holding Co. LLC,
7.24%, 08/05/2012 Z............................. 1,670
810 Railamerica,
7.06%, 09/29/2011 Z............................. 821
4,128 Sirva Worldwide, Inc.,
9.56%, 12/01/2010 Z............................. 4,092
1,010 Transport Industries L.P.,
7.80%, 09/30/2011 Z............................. 1,024
4,813 United Air Lines, Inc.,
8.63%, 02/01/2012 Z............................. 4,881
688 United Air Lines, Inc.,
8.75%, 02/01/2012 Z............................. 698
6,000 US Airways Group, Inc.,
8.50%, 03/31/2011 Z............................. 6,073
----------
36,607
----------
UTILITIES -- 6.6%
6,713 Allegheny Energy, Inc.,
6.38%, 06/16/2010 Z............................. 6,718
1,289 Allegheny Energy Supply Co. LLC,
6.34%, 07/20/2012 Z............................. 1,292
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
UTILITIES -- (CONTINUED)
355 Astoria Generating Co. Acquisitions LLC Letter of
Credit,
6.94%, 02/23/2012 Z............................. $ 360
1,645 Astoria Generating Co. Acquisitions LLC Term Loan
B,
6.94%, 02/23/2012 Z............................. 1,663
4,500 Astoria Generating Co. Acquisitions LLC,
8.60%, 08/23/2013 Z............................. 4,588
1,996 Calpine Corp.,
7.13%, 12/22/2007 ZX............................ 2,027
2,649 Calpine Corp.,
8.98%, 12/22/2007 ZX............................ 2,717
131 Ceh La Paloma Merger Co. LLC,
6.75%, 08/16/2012 Z............................. 132
2,000 Ceh La Paloma Merger Co. LLC,
8.41%, 08/16/2013 Z............................. 2,031
62 Ceh La Paloma Merger Co. LLC Term Loan,
6.73%, 08/16/2012 Z............................. 62
772 Ceh La Paloma Merger Co. LLC Term Loan B,
6.73%, 08/16/2012 Z............................. 780
2,000 Coleto Creek WLE L.P.,
8.23%, 06/30/2012 Z............................. 2,008
3,000 Dynegy Holdings, Inc.,
6.71%, 01/31/2012 Z............................. 3,000
9,500 El Paso Energy Corp.,
7.46%, 11/23/2009 Z............................. 9,591
2,653 El Paso Energy Corp.,
7.70%, 11/23/2009 Z............................. 2,679
1,485 Epco Holdings, Inc.,
7.09%, 08/15/2010 Z............................. 1,500
121 LSP General Finance Co. LLC Delayed Draw,
6.88%, 04/13/2013 GQ............................ 122
2,879 LSP General Finance Co. LLC First Lien,
6.88%, 04/13/2013 GQ............................ 2,891
11,970 Mirant North America LLC,
6.56%, 01/03/2013 Z............................. 12,068
6,108 NRG Energy, Inc.,
6.82%, 01/27/2013 Z............................. 6,171
6,392 NRG Energy, Inc.,
6.92%, 01/27/2013 Z............................. 6,451
2,002 Reliant Energy, Inc.,
6.89%, 04/30/2010 Z............................. 2,001
1,001 Reliant Energy, Inc.,
7.47%, 04/30/2010 Z............................. 1,000
1,452 Semcrude L.P. (Aka Semgroup),
7.40%, 03/01/2011 Z............................. 1,454
----------
73,306
----------
Total senior floating rate interests
(cost $969,292)................................. $ 971,502
----------
</Table>
The accompanying notes are an integral part of these financial statements.
123
THE HARTFORD FLOATING RATE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
SHORT-TERM INVESTMENTS -- 5.6%
CONSUMER STAPLES -- 0.5%
5,002 Cargill, Inc.,
4.81%, 05/01/2006............................... $ 4,999
----------
FINANCE -- 0.3%
2,907 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... 2,907
----------
REPURCHASE AGREEMENTS -- 4.8%
18,077 BNP Paribas Repurchase Agreement,
4.67%, 05/01/2006............................... 18,077
16,786 RBS Greenwich Repurchase Agreement,
4.65%, 05/01/2006............................... 16,786
19,204 UBS Warburg Securities, Inc. Repurchase Agreement,
4.68%, 05/01/2006............................... 19,204
----------
54,067
----------
Total short-term investments
(cost $61,973).................................. $ 61,973
----------
Total investments in securities
(cost $1,171,184) O............................. $1,174,209
==========
</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 1.95% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $1,171,184 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 4,588
Unrealized depreciation......................... (1,563)
-------
Net unrealized appreciation..................... $ 3,025
=======
</Table>
X The company is in bankruptcy. The bank loan or bond held by the
fund is not in default and interest payments are expected in the future.
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
-------- ---------- -------- ----------
July 2005 -
November 2005 3,000 Calpine Generating Co. $3,053
October 2006 2,500 Washington Country Casino
Resort LLC 2,500
</Table>
The aggregate value of these securities at April 30, 2006 was
$5,635, which represents 0.51% 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 January 31, 2006, was $18,576, which represents 1.67% of total net
assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
G The interest rate disclosed for these securities represents an
estimated yield as of April 30, 2006.
Z The interest rate disclosed for these securities represents the
effective yield as of April 30, 2006.
Q The cost of securities purchased on a when-issued basis at April 30,
2006 was $72,313.
C 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 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
April 30, 2006.
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.
124
THE HARTFORD FOCUS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ -------
COMMON STOCK -- 99.9%
BASIC MATERIALS -- 3.0%
58 Dow Chemical Co. ................................. $ 2,347
-------
CAPITAL GOODS -- 2.0%
18 Deere & Co. ...................................... 1,598
-------
CONSUMER CYCLICAL -- 3.7%
52 D.R. Horton, Inc. ................................ 1,552
78 Dollar General Corp. ............................. 1,360
-------
2,912
-------
CONSUMER STAPLES -- 4.2%
25 Clorox Co. ....................................... 1,617
30 Procter & Gamble Co. ............................. 1,717
-------
3,334
-------
ENERGY -- 7.0%
53 Exxon Mobil Corp. ................................ 3,337
97 Williams Cos., Inc. .............................. 2,134
-------
5,471
-------
FINANCE -- 22.6%
82 Citigroup, Inc. .................................. 4,101
55 Countrywide Financial Corp. ...................... 2,253
25 Federal Home Loan Mortgage Corp. ................. 1,514
27 Muenchener Rueckversicherungs-Gesellschaft AG D... 3,865
13 State Street Corp. ............................... 817
27 UBS AG............................................ 3,155
41 UnitedHealth Group, Inc. ......................... 2,024
-------
17,729
-------
HEALTH CARE -- 13.7%
30 Amgen, Inc. B..................................... 2,051
105 Boston Scientific Corp. B......................... 2,445
29 Cardinal Health, Inc. ............................ 1,926
51 Lilly (Eli) & Co. ................................ 2,699
34 Sanofi-Aventis S.A. ADR........................... 1,618
-------
10,739
-------
SERVICES -- 14.5%
55 Accenture Ltd. Class A............................ 1,602
59 Comcast Corp. Class A B........................... 1,838
158 Sun Microsystems, Inc. B.......................... 791
20 United Parcel Service, Inc. Class B............... 1,589
62 Viacom, Inc. Class B B............................ 2,460
51 Walt Disney Co. .................................. 1,420
84 XM Satellite Radio Holdings, Inc. Class A B....... 1,707
-------
11,407
-------
TECHNOLOGY -- 27.7%
44 AT&T, Inc. ....................................... 1,148
116 Cisco Systems, Inc. B............................. 2,428
114 EMC Corp. B....................................... 1,535
117 General Electric Co. ............................. 4,061
36 Lexmark International, Inc. ADR B................. 1,753
45 Medtronic, Inc. .................................. 2,250
25 Mercury Interactive Corp. B....................... 907
113 Microsoft Corp. .................................. 2,719
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- ------ -------
TECHNOLOGY -- (CONTINUED)
42 Nokia Oyj ADR..................................... $ 952
2 Samsung Electronics Co., Ltd. D................... 1,124
118 Sprint Nextel Corp. .............................. 2,914
-------
21,791
-------
UTILITIES -- 1.5%
22 Exelon Corp. ..................................... 1,210
-------
Total common stock
(cost $76,544).................................. $78,538
-------
SHORT-TERM INVESTMENTS -- 0.2%
REPURCHASE AGREEMENTS -- 0.2%
29 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 29
19 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 19
30 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 30
12 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 12
27 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 27
4 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 4
48 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 48
-------
Total short-term investments
(cost $169)..................................... $ 169
-------
Total investments in securities
(cost $76,713) O................................ $78,707
=======
</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 13.62% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $4,989, which represents 6.34% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $77,704 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 2,856
Unrealized depreciation......................... (1,853)
-------
Net unrealized appreciation..................... $ 1,003
=======
</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.
125
THE HARTFORD GLOBAL COMMUNICATIONS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 93.9%
COMMUNICATIONS EQUIPMENT MANUFACTURING -- 3.2%
60 Powerwave Technologies, Inc. B.................... $ 663
30 Syniverse Holdings, Inc. B........................ 533
-------
1,196
-------
ENTERTAINMENT -- CABLE & OTHER SUBSCRIP PROGRAMMING -- 0.1%
1 Comcast Corp. Class A B........................... 43
-------
INDUSTRIAL MACHINERY AND EQUIPMENT RENTAL AND LEASE -- 2.2%
203 Westell Technologies, Inc. Class A B.............. 804
-------
OTHER INFORMATION SERVICES -- 1.9%
29 AFK Sistema GDR B M............................... 711
-------
OTHER TELECOMMUNICATIONS -- 22.6%
63 Brasil Telecom S.A. ADR H......................... 986
2,626 China Telecom Corp. Ltd. D........................ 918
66 France Telecom S.A. D............................. 1,538
57 Tele Norte Leste Participacoes S.A. ADR........... 1,040
26 Telefonica S.A. ADR............................... 1,232
122 Telenor ASA B D................................... 1,420
13 Telkom South Africa Ltd. ADR...................... 1,257
-------
8,391
-------
SEMICONDUCTOR, ELECTRONIC COMPONENT MANUFACTURING -- 0.1%
-- Samsung Electronics Co., Ltd. D................... 48
-------
SOFTWARE PUBLISHERS -- 7.8%
213 KongZhong Corp. ADR B............................. 2,898
-------
TELECOMMUNICATION RESELLERS -- 0.9%
16 Chunghwa Telecom Co., Ltd. ADR.................... 330
1 Maroc Telecom S.A. D.............................. 15
-- Telecom Egypt ADR M............................... 3
-------
348
-------
WIRED TELECOMMUNICATIONS CARRIERS -- 13.0%
33 AT&T, Inc. ....................................... 873
48 Deutsche Telekom AG B DH.......................... 862
34 Neustar, Inc. B................................... 1,197
43 Philippine Long Distance Telephone Co. D.......... 1,713
65 Telecom Italia S.p.A. DH.......................... 163
-------
4,808
-------
WIRELESS COMMUNICATIONS SERVICES -- 19.1%
43 Citizens Communications Co. ...................... 574
392 Dobson Communications Corp. B..................... 3,528
37 FairPoint Communications, Inc. ................... 491
46 General Communication, Inc. Class A B............. 557
339 Suncom Wireless Holdings, Inc. B.................. 611
127 UbiquiTel, Inc. B................................. 1,318
-------
7,079
-------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
WIRELESS TELECOMMUNICATIONS CARRIERS -- 23.0%
55 Citigroup Global Certificate -- Bharti
Televentures B M D.............................. $ 496
43 Mobile Telesystems OJSC ADR B..................... 1,417
11 Mobinil-Egyptian Mobile Service................... 297
132 MTN Group Ltd. M D................................ 1,314
108 Sprint Nextel Corp. .............................. 2,684
76 Turkcell Iletisim Hizmet ADR...................... 1,290
15 Vimpel-Communications ADR B....................... 703
20 Vodafone -- Egypt................................. 303
-------
8,504
-------
Total common stock
(cost $30,179).................................. $34,830
-------
PREFERRED STOCKS -- 3.5%
OTHER TELECOMMUNICATIONS -- 3.5%
17 Telecomunicacoes de Sao Paulo S.A. H.............. $ 419
32 Telemar Norte Leste S.A. ......................... 882
-------
Total preferred stocks
(cost $1,095)................................... $ 1,301
-------
Total long-term investments
(cost $31,274).................................. $36,131
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.0%
REPURCHASE AGREEMENTS -- 2.0%
$ 125 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 125
83 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 83
127 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 127
51 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 51
115 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 115
19 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 19
205 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 205
-------
725
-------
</Table>
The accompanying notes are an integral part of these financial statements.
126
- --------------------------------------------------------------------------------
<Table>
MARKET
SHARES VALUE U
- ----------- -----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 5.0%
1,853 BNY Institutional Cash Reserve Fund............... $ 1,853
---------
Total short-term investments
(cost $2,578)................................... $ 2,578
---------
Total investments in securities
(cost $33,852).................................. $ 38,709
=========
</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 52.20% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $8,487, which represents 22.89% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $33,872 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $5,302
Unrealized depreciation.......................... (465)
------
Net unrealized appreciation...................... $4,837
======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $2,524, which represents 6.81% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ---------------------------------------------------------------
Brazil 9.0%
- ---------------------------------------------------------------
China 2.5
- ---------------------------------------------------------------
Egypt 1.6
- ---------------------------------------------------------------
France 4.1
- ---------------------------------------------------------------
Germany 2.3
- ---------------------------------------------------------------
Italy 0.4
- ---------------------------------------------------------------
Luxembourg 1.3
- ---------------------------------------------------------------
Morocco 0.0
- ---------------------------------------------------------------
Norway 3.8
- ---------------------------------------------------------------
Philippines 4.6
- ---------------------------------------------------------------
Russia 5.7
- ---------------------------------------------------------------
South Africa 6.9
- ---------------------------------------------------------------
South Korea 2.0
- ---------------------------------------------------------------
Spain 3.3
- ---------------------------------------------------------------
Taiwan 0.9
- ---------------------------------------------------------------
Turkey 3.5
- ---------------------------------------------------------------
United States 45.5
- ---------------------------------------------------------------
Short Term Investments 7.0
- ---------------------------------------------------------------
Other Assets & Liabilities -4.4
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
127
THE HARTFORD GLOBAL FINANCIAL SERVICES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.7%
COMMERCIAL BANKING -- 7.9%
10 State Street Corp. ............................... $ 634
12 UBS AG DH......................................... 1,361
-------
1,995
-------
CONSUMER LENDING -- 1.5%
6 Takefuji Corp. DH................................. 377
-------
CREDIT CARD ISSUING -- 1.4%
13 Aeon Credit Service Co., Ltd. DH.................. 358
-------
DEPOSITORY CREDIT BANKING -- 16.4%
21 Bank of America Corp. ............................ 1,068
8 Canadian Western Bank............................. 298
20 Citigroup, Inc. .................................. 1,024
17 Golden West Financial Corp. ...................... 1,193
8 Signature Bank B.................................. 286
6 Webster Financial Corp. .......................... 258
-------
4,127
-------
INSURANCE CARRIERS -- 20.7%
20 ACE Ltd. ......................................... 1,128
8 AMBAC Financial Group, Inc. ...................... 642
15 American International Group, Inc. ............... 1,005
7 MBIA, Inc. ....................................... 435
5 Metlife, Inc. .................................... 255
11 Reinsurance Group of America, Inc. ............... 548
21 St. Paul Travelers Cos., Inc. .................... 925
13 UnumProvident Corp. .............................. 262
-------
5,200
-------
INTERNATIONAL TRADE FINANCING (FOREIGN BANKS) -- 32.0%
15 ABN AMRO Holding N.V. DH.......................... 442
78 Banca Intesa S.p.A. DH............................ 463
49 Banco Bilbao Vizcaya Argentaria S.A. DH........... 1,082
97 Barclays plc D.................................... 1,207
45 Capitalia S.p.A. DH............................... 395
9 Commerzbank AG D.................................. 354
14 Credit Suisse Group H............................. 885
-- Mitsubishi UFJ Financial Group, Inc. D............ 907
57 Shinsei Bank Ltd. D............................... 398
96 UniCredito Italiano S.p.A. DH..................... 721
61 Westpac Banking Corp. DH.......................... 1,167
-------
8,021
-------
MONETARY AUTHORITIES -- CENTRAL BANK -- 1.4%
5 Canadian Imperial Bank of Commerce H.............. 348
-------
NONDEPOSITORY CREDIT BANKING -- 7.2%
11 Capital One Financial Corp. ...................... 954
13 Countrywide Financial Corp. ...................... 508
6 Federal Home Loan Mortgage Corp. ................. 360
-------
1,822
-------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES AND COMMODITY EXCHANGES -- 1.8%
5 Euronext DH....................................... $ 449
-------
SECURITIES, COMMODITIES AND BROKERAGE -- 6.4%
13 E*Trade Financial Corp. B......................... 313
3 Goldman Sachs Group, Inc. ........................ 545
10 Merrill Lynch & Co., Inc. ........................ 747
-------
1,605
-------
Total common stock
(cost $17,877).................................. $24,302
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 25.4%
REPURCHASE AGREEMENTS -- 2.5%
$ 108 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 108
71 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 71
109 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 109
44 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 44
98 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 98
16 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 16
176 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 176
-------
622
-------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 22.9%
5,765 Navigator Prime Portfolio......................... 5,765
-------
Total short-term investments
(cost $6,387)................................... $ 6,387
-------
Total investments in securities
(cost $24,264) O................................ $30,689
=======
</Table>
The accompanying notes are an integral part of these financial statements.
128
- --------------------------------------------------------------------------------
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 44.61% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $9,681, which represents 38.51% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $24,397 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $6,362
Unrealized depreciation.......................... (70)
------
Net unrealized appreciation...................... $6,292
======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ---------------------------------------------------------------
Australia 4.6%
- ---------------------------------------------------------------
Canada 2.6
- ---------------------------------------------------------------
Germany 1.4
- ---------------------------------------------------------------
Italy 6.3
- ---------------------------------------------------------------
Japan 8.1
- ---------------------------------------------------------------
Netherlands 3.5
- ---------------------------------------------------------------
Spain 4.3
- ---------------------------------------------------------------
Switzerland 8.9
- ---------------------------------------------------------------
United Kingdom 4.8
- ---------------------------------------------------------------
United States 52.1
- ---------------------------------------------------------------
Short Term Investments 25.4
- ---------------------------------------------------------------
Other Assets & Liabilities -22.1
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
129
THE HARTFORD GLOBAL HEALTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.4%
AGENCIES, BROKERAGES, OTHER INSURANCE ACTIVITIES -- 0.5%
57 Medco Health Solutions, Inc. B.................... $ 3,055
--------
BASIC CHEMICAL MANUFACTURING -- 0.8%
100 Bayer AG DH....................................... 4,608
--------
DRUGS & DRUGGISTS SUNDRIES WHOLESALERS -- 5.7%
171 Cardinal Health, Inc. ............................ 11,483
454 McKesson Corp. ................................... 22,070
--------
33,553
--------
ELECTRICAL EQUIPMENT MANUFACTURING -- 1.0%
203 Olympus Corp. DH.................................. 5,807
--------
GENERAL MEDICAL AND SURGICAL HOSPITALS -- 1.0%
138 Triad Hospitals, Inc. B........................... 5,694
--------
HEALTH AND PERSONAL CARE STORES -- 2.1%
416 CVS Corp. ........................................ 12,360
--------
INSURANCE CARRIERS -- 6.3%
446 Aetna, Inc. ...................................... 17,163
355 UnitedHealth Group, Inc. ......................... 17,641
63 Wellcare Health Plans, Inc. BH.................... 2,622
--------
37,426
--------
MEDICAL EQUIPMENT & SUPPLIES MANUFACTURING -- 7.1%
366 Baxter International, Inc. ....................... 13,798
225 Biomet, Inc. ..................................... 8,369
591 Boston Scientific Corp. B......................... 13,742
176 Terumo Corp. DH................................... 6,314
--------
42,223
--------
NAVIGATE, MEASURE, CONTROL INSTRUMENT MANUFACTURING -- 5.5%
444 Bruker BioSciences Corp. B........................ 2,600
600 Medtronic, Inc. .................................. 30,087
--------
32,687
--------
PHARMACEUTICAL & MEDICINE MANUFACTURING -- 57.8%
686 Abbott Laboratories............................... 29,332
327 Amgen, Inc. B..................................... 22,124
299 Amylin Pharmaceuticals, Inc. BH................... 13,021
189 Array BioPharma, Inc. BH.......................... 1,398
451 Astellas Pharma, Inc. D........................... 18,817
569 AstraZeneca plc ADR............................... 31,363
150 AtheroGenics, Inc. BH............................. 2,124
313 Bristol-Myers Squibb Co. ......................... 7,934
150 Cephalon, Inc. BH................................. 9,833
602 Cytokinetics, Inc. BH............................. 4,366
731 Daiichi Sankyo Co., Ltd. D........................ 18,795
450 Eisai Co., Ltd. DH................................ 20,523
624 Elan Corp. plc ADR B.............................. 9,181
275 Forest Laboratories, Inc. B....................... 11,117
91 Genzyme Corp. B................................... 5,578
183 Gilead Sciences, Inc. B........................... 10,534
45 Hospira, Inc. B................................... 1,740
76 Ipsen B MH........................................ 3,402
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
PHARMACEUTICAL & MEDICINE MANUFACTURING -- (CONTINUED)
251 Lilly (Eli) & Co. ................................ $ 13,294
119 MedImmune, Inc. B................................. 3,754
124 NPS Pharmaceuticals, Inc. BH...................... 1,060
344 Panacos Pharmaceuticals, Inc. BH.................. 2,406
316 Sanofi-Aventis S.A. ADR........................... 14,883
1,373 Schering-Plough Corp. ............................ 26,517
64 Schwarz Pharma AG DH.............................. 5,681
4 Serono S.A. Class B BH............................ 2,411
1,191 Shionogi & Co., Ltd. DH........................... 20,082
103 Takeda Pharmaceutical Co., Ltd. D................. 6,317
181 UCB S.A. DH....................................... 9,291
265 Vertex Pharmaceuticals, Inc. BH................... 9,649
192 Watson Pharmaceuticals, Inc. B.................... 5,460
--------
341,987
--------
PROFESSIONAL SERVICE -- COMPUTER SYSTEM DESIGN &
RELATED -- 1.6%
338 IMS Health, Inc. ................................. 9,179
--------
SCIENTIFIC RESEARCH & DEVELOPMENT SERVICES -- 9.0%
521 Applera Corp. -- Celera Genomics Group BH......... 6,247
667 Ciphergen Biosystems, Inc. BH..................... 1,048
233 CV Therapeutics, Inc. BH.......................... 4,623
253 Exelixis, Inc. BH................................. 2,727
135 Genmab A/S B...................................... 4,783
543 Human Genome Sciences, Inc. BH.................... 6,194
93 ICOS Corp. BH..................................... 2,048
296 Incyte Corp. BH................................... 1,233
256 Medicines Co. BH.................................. 4,926
1,102 Millennium Pharmaceuticals, Inc. B................ 10,010
264 Regeneron Pharmaceuticals, Inc. BH................ 3,835
275 Zymogenetics, Inc. BH............................. 5,625
--------
53,299
--------
Total common stock
(cost $510,846)................................. $581,878
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 18.7%
REPURCHASE AGREEMENTS -- 1.8%
$ 1,776 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,776
1,176 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,176
1,801 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,801
726 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 726
1,626 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,626
</Table>
The accompanying notes are an integral part of these financial statements.
130
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 267 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... $ 267
2,902 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 2,902
--------
10,274
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 16.9%
100,191 Navigator Prime Portfolio......................... 100,191
--------
Total short-term investments
(cost $110,465)................................. $110,465
--------
Total investments in securities
(cost $621,311) O............................... $692,343
========
</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 30.81% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $116,235, which represents 19.65% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $622,650 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 84,084
Unrealized depreciation........................ (14,391)
--------
Net unrealized appreciation.................... $ 69,693
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $3,402, which represents 0.58% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Sell $1,964 $1,962 05/02/2006 $(2)
===
</Table>
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ---------------------------------------------------------------
Belgium 1.6%
- ---------------------------------------------------------------
Denmark 0.8
- ---------------------------------------------------------------
France 3.1
- ---------------------------------------------------------------
Germany 1.7
- ---------------------------------------------------------------
Ireland 1.6
- ---------------------------------------------------------------
Japan 16.3
- ---------------------------------------------------------------
Switzerland 0.4
- ---------------------------------------------------------------
United Kingdom 5.3
- ---------------------------------------------------------------
United States 67.6
- ---------------------------------------------------------------
Short Term Investments 18.7
- ---------------------------------------------------------------
Other Assets & Liabilities -17.1
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
131
THE HARTFORD GLOBAL LEADERS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.9%
AUSTRIA -- 1.0%
74 Erste Bank Der Oesterreichischen Sparkassen AG
D............................................... $ 4,481
52 Erste Bank Der Oesterreichischen Sparkassen AG
B M............................................. 3,102
--------
7,583
--------
BELGIUM -- 0.8%
53 KBC Bankverzekeringsholdings DH................... 6,110
--------
CANADA -- 4.1%
207 Cameco Corp. ..................................... 8,403
171 Inco Ltd. H....................................... 9,673
147 Suncor Energy, Inc. .............................. 12,588
--------
30,664
--------
FINLAND -- 1.3%
425 Nokia Oyj ADR..................................... 9,619
--------
FRANCE -- 4.4%
91 LVMH Moet Hennessy Louis Vuitton S.A. DH.......... 9,622
140 Sanofi-Aventis S.A. DH............................ 13,205
162 Veolia Environnment S.A. DH....................... 9,663
--------
32,490
--------
GERMANY -- 2.8%
326 Commerzbank AG DH................................. 13,514
34 SAP AG ADR DH..................................... 7,334
--------
20,848
--------
GREECE -- 0.9%
180 Opap S.A. D....................................... 6,624
--------
IRELAND -- 0.5%
87 Ryanair Holdings plc ADR BH....................... 4,082
--------
ISRAEL -- 0.6%
113 Teva Pharmaceutical Industries Ltd. ADR........... 4,589
--------
ITALY -- 0.7%
668 UniCredito Italiano S.p.A. DH..................... 5,035
--------
JAPAN -- 12.2%
2 Dentsu, Inc. D.................................... 5,518
244 Eisai Co., Ltd. D................................. 11,128
268 JSR Corp. D....................................... 8,235
1 Mitsubishi UFJ Financial Group, Inc. D............ 12,570
14 Rakuten, Inc. DH.................................. 11,205
611 Sharp Corp. D..................................... 10,692
1,129 Shinsei Bank Ltd. D............................... 7,886
292 Sumitomo Realty & Development DH.................. 7,726
136 Tokyo Electron Ltd. DH............................ 9,767
109 Toyota Motor Corp. D.............................. 6,368
--------
91,095
--------
MEXICO -- 3.1%
332 America Movil S.A. de C.V. ADR.................... 12,239
513 Grupo Televisa S.A. ADR........................... 10,880
--------
23,119
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
NETHERLANDS -- 2.5%
498 ASML Holding N.V. BD.............................. $ 10,522
88 Euronext D........................................ 7,855
--------
18,377
--------
SOUTH KOREA -- 3.5%
91 Hyundai Motor Co., Ltd. D......................... 7,984
115 Lotte Shopping Co. GDR B.......................... 2,371
118 Lotte Shopping Co. GDR B M........................ 2,423
20 Samsung Electronics Co., Ltd. D................... 13,506
--------
26,284
--------
SWEDEN -- 1.3%
2,826 Telefonaktiebolaget LM Ericsson D................. 10,029
--------
SWITZERLAND -- 3.1%
47 Roche Holding AG D................................ 7,158
134 UBS AG DH......................................... 15,736
--------
22,894
--------
TAIWAN -- 0.8%
848 Hon Hai Precision Industry Co., Ltd. D............ 5,729
--------
UNITED KINGDOM -- 10.8%
217 AstraZeneca plc D................................. 11,923
276 BHP Billiton plc D................................ 5,685
2,963 Carphone Warehouse Group plc D.................... 18,007
3,317 EMI Group plc D................................... 17,120
99 Man Group plc D................................... 4,550
382 Reckitt Benckiser plc D........................... 13,901
350 Standard Chartered plc D.......................... 9,258
--------
80,444
--------
UNITED STATES -- 44.5%
201 Adobe Systems, Inc. B............................. 7,891
386 American Tower Corp. Class A B.................... 13,182
117 Best Buy Co., Inc. ............................... 6,607
150 Boeing Co. ....................................... 12,526
197 Celgene Corp. BH.................................. 8,301
431 Cisco Systems, Inc. B............................. 9,025
123 Comcast Corp. Class A B........................... 3,798
649 Corning, Inc. B................................... 17,937
308 E*Trade Financial Corp. BH........................ 7,666
220 eBay, Inc. B...................................... 7,581
222 Electronic Arts, Inc. B........................... 12,621
74 Goldman Sachs Group, Inc. ........................ 11,846
36 Google, Inc. BH................................... 15,129
95 Harrah's Entertainment, Inc. ..................... 7,764
15 Hugoton Royalty Trust............................. 427
268 Las Vegas Sands Corp. BH.......................... 17,395
274 Microsoft Corp. .................................. 6,624
88 Monsanto Co. ..................................... 7,356
450 Motorola, Inc. ................................... 9,597
94 Nasdaq Stock Market, Inc. B....................... 3,532
274 Network Appliance, Inc. BH........................ 10,153
134 Noble Corp. ...................................... 10,610
166 Procter & Gamble Co. ............................. 9,675
176 Qualcomm, Inc. ................................... 9,041
</Table>
The accompanying notes are an integral part of these financial statements.
132
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
UNITED STATES -- (CONTINUED)
169 SanDisk Corp. BH.................................. $ 10,768
559 Schering-Plough Corp. ............................ 10,800
205 Schlumberger Ltd. ................................ 14,146
141 SLM Corp. ........................................ 7,446
421 Sprint Nextel Corp. .............................. 10,428
163 Starbucks Corp. BH................................ 6,060
195 Valero Energy Corp. .............................. 12,637
383 Warner Music Group Corp. ......................... 10,142
223 Wyeth............................................. 10,868
259 XTO Energy, Inc. ................................. 10,981
--------
330,560
--------
Total common stock
(cost $630,865)................................. $736,175
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 14.3%
REPURCHASE AGREEMENTS -- 1.4%
$ 1,845 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,845
1,222 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,222
1,871 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,871
754 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 754
1,689 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,689
277 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 277
3,015 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 3,015
--------
10,673
--------
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 12.9%
95,826 Navigator Prime Portfolio......................... $ 95,826
--------
Total short-term investments
(cost $106,499)................................. $106,499
--------
Total investments in securities
(cost $737,364) O............................... $842,674
========
</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 54.48% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $325,646, which represents 43.74% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $741,762 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $105,919
Unrealized depreciation........................ (5,007)
--------
Net unrealized appreciation.................... $100,912
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $5,525, which represents 0.74% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
British Pound Buy $2,176 $2,150 05/03/2006 $26
British Pound Buy 1,539 1,539 05/04/2006 --
Euro Buy 2,020 1,994 05/02/2006 26
Swedish Krona Buy 1,420 1,395 05/02/2006 25
---
$77
===
</Table>
The accompanying notes are an integral part of these financial statements.
133
THE HARTFORD GLOBAL LEADERS FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
DIVERSIFICATION BY INDUSTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ---------------------------------------------------------------
Basic Materials 4.3%
- ---------------------------------------------------------------
Capital Goods 1.7
- ---------------------------------------------------------------
Consumer Cyclical 9.0
- ---------------------------------------------------------------
Consumer Staples 3.2
- ---------------------------------------------------------------
Energy 8.2
- ---------------------------------------------------------------
Finance 17.3
- ---------------------------------------------------------------
Health Care 11.5
- ---------------------------------------------------------------
Services 11.6
- ---------------------------------------------------------------
Technology 30.3
- ---------------------------------------------------------------
Transportation 0.5
- ---------------------------------------------------------------
Utilities 1.3
- ---------------------------------------------------------------
Short Term Investments 14.3
- ---------------------------------------------------------------
Other Assets & Liabilities -13.2
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
134
THE HARTFORD GLOBAL TECHNOLOGY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 98.9%
AUDIO AND VIDEO EQUIPMENT MANUFACTURING -- 1.1%
14 Sony Corp. D...................................... $ 685
-------
BUSINESS SUPPORT SERVICES -- 1.1%
18 Iron Mountain, Inc. B............................. 684
-------
COMMUNICATIONS EQUIPMENT MANUFACTURING -- 14.3%
156 Cisco Systems, Inc. B............................. 3,275
64 Motorola, Inc. ................................... 1,362
110 Nokia Oyj ADR..................................... 2,502
39 Qualcomm, Inc. ................................... 2,023
-------
9,162
-------
COMPUTER AND PERIPHERAL MANUFACTURING -- 23.1%
24 Dell, Inc. B...................................... 637
131 EMC Corp. B....................................... 1,764
102 Hewlett-Packard Co. .............................. 3,318
366 Hon Hai Precision Industry Co., Ltd. D............ 2,474
43 International Business Machines Corp. ............ 3,524
26 Network Appliance, Inc. B......................... 964
24 SanDisk Corp. B................................... 1,506
37 Western Digital Corp. B........................... 779
-------
14,966
-------
DATA PROCESSING SERVICES -- 4.7%
16 ChoicePoint, Inc. B............................... 718
48 First Data Corp. ................................. 2,303
-------
3,021
-------
ELECTRICAL EQUIPMENT MANUFACTURING -- COMPONENT
OTHER -- 4.5%
104 Corning, Inc. B................................... 2,862
-------
EMPLOYMENT SERVICES -- 1.2%
12 Manpower, Inc. ................................... 795
-------
EXCHANGE TRADED FUNDS -- 0.9%
11 iShares Goldman Sachs Tech I...................... 555
-------
MACHINERY MANUFACTURING -- INDUSTRIAL MACHINERY -- 3.3%
44 Lam Research Corp. B.............................. 2,126
-------
MANAGEMENT, SCIENTIFIC, AND TECHNICAL CONSULTING
SERVICES -- 1.9%
42 Accenture Ltd. Class A............................ 1,207
-------
NAVIGATE, MEASURE, CONTROL INSTRUMENT MANUFACTURING -- 0.5%
4 Garmin Ltd. ...................................... 345
-------
ON LINE INFORMATION SERVICES -- 3.5%
5 Google, Inc. B.................................... 2,257
-------
OTHER SERVICES -- OTHER PERSONAL SERVICES -- 0.8%
11 Tata Consultancy Services Ltd. Warrants B M....... 498
-------
PROFESSIONAL SERVICES -- COMPUTER SYSTEM DESIGN &
RELATED -- 10.0%
15 Autodesk, Inc. B.................................. 647
27 Automatic Data Processing, Inc. .................. 1,173
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
PROFESSIONAL SERVICES -- COMPUTER SYSTEM DESIGN &
RELATED -- (CONTINUED)
53 BISYS Group, Inc. B............................... $ 843
27 DST Systems, Inc. B............................... 1,630
426 Sun Microsystems, Inc. B.......................... 2,130
-------
6,423
-------
RETAIL -- ELECTRONIC SHOPPING AND MAIL-ORDER HOUSES -- 0.8%
14 eBay, Inc. B...................................... 489
-------
SEMICONDUCTOR, ELECTRONIC COMPONENT MANUFACTURING -- 11.6%
45 Altera Corp. B.................................... 979
1 CSR plc BD........................................ 30
28 Marvell Technology Group Ltd. B................... 1,576
19 Maxim Integrated Products, Inc. .................. 652
37 MEMC Electronic Materials, Inc. B................. 1,514
4 Samsung Electronics Co., Ltd. D................... 2,717
-------
7,468
-------
SOFTWARE PUBLISHERS -- 15.6%
46 Activision, Inc. B................................ 653
22 Adobe Systems, Inc. B............................. 847
32 Compuware Corp. B................................. 249
31 Electronic Arts, Inc. B........................... 1,766
28 Mercury Interactive Corp. B....................... 1,019
164 Microsoft Corp. .................................. 3,963
28 Red Hat, Inc. B................................... 832
19 Salesforce.com, Inc. B............................ 669
-------
9,998
-------
Total common stock
(cost $55,681).................................. $63,541
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 0.4%
REPURCHASE AGREEMENTS -- 0.4%
$ 48 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 48
31 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 31
48 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 48
19 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 19
44 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 44
</Table>
The accompanying notes are an integral part of these financial statements.
135
THE HARTFORD GLOBAL TECHNOLOGY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 7 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... $ 7
78 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 78
-------
275
-------
Total short-term investments
(cost $275)..................................... $ 275
-------
Total investments in securities
(cost $55,956) O................................ $63,816
=======
</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 16.32% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $5,906, which represents 9.20% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $56,544 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $8,269
Unrealized depreciation.......................... (997)
------
Net unrealized appreciation...................... $7,272
======
</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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at April
30, 2006, was $498, which represents 0.78% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY COUNTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
DIVERSIFICATION BY COUNTRY NET ASSETS
- ---------------------------------------------------------------
Bermuda 2.5%
- ---------------------------------------------------------------
Finland 3.9
- ---------------------------------------------------------------
Japan 1.1
- ---------------------------------------------------------------
Luxembourg 0.8
- ---------------------------------------------------------------
South Korea 4.2
- ---------------------------------------------------------------
Taiwan 3.9
- ---------------------------------------------------------------
United Kingdom 0.1
- ---------------------------------------------------------------
United States 82.4
- ---------------------------------------------------------------
Short Term Investments 0.4
- ---------------------------------------------------------------
Other Assets & Liabilities 0.7
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
136
THE HARTFORD GROWTH ALLOCATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
AFFILIATED INVESTMENT COMPANIES -- 99.3%
EQUITY FUNDS -- 79.4%
1,469 Hartford Capital Appreciation Fund, Class Y....... $ 60,429
6,278 Hartford Disciplined Equity Fund, Class Y......... 81,993
1,332 Hartford Global Leaders Fund, Class Y............. 27,238
841 Hartford Growth Fund, Class Y B................... 16,382
708 Hartford Growth Opportunities Fund, Class Y....... 21,882
1,449 Hartford International Capital Appreciation Fund,
Class Y......................................... 22,012
999 Hartford International Opportunities Fund, Class
Y............................................... 16,479
1,380 Hartford International Small Company Fund, Class
Y............................................... 22,249
745 Hartford MidCap Value Fund, Class Y............... 10,948
939 Hartford Select MidCap Growth Fund, Class Y....... 10,978
1,358 Hartford Small Company Fund, Class Y B............ 32,973
1,670 Hartford SmallCap Growth Fund, Class Y B.......... 54,908
1,827 Hartford Value Fund, Class Y...................... 21,993
2,170 Hartford Value Opportunities Fund, Class Y........ 38,590
--------
Total equity funds
(cost $386,181)................................. $439,054
--------
FIXED INCOME FUNDS -- 19.9%
3,740 Hartford Inflation Plus Fund, Class Y............. 38,600
1,673 Hartford Short Duration Fund, Class Y............. 16,415
5,216 Hartford Total Return Bond Fund, Class Y.......... 54,819
--------
Total fixed income funds
(cost $113,251)................................. $109,834
--------
Total investments in affiliated investment
companies
(cost $499,432) O............................... $548,888
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $499,443 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $52,861
Unrealized depreciation......................... (3,416)
-------
Net unrealized appreciation..................... $49,445
=======
</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.
137
THE HARTFORD GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 97.5%
BASIC MATERIALS -- 3.5%
884 Cameco Corp. ..................................... $ 35,924
189 Peabody Energy Corp. ............................. 12,050
----------
47,974
----------
CAPITAL GOODS -- 4.0%
659 Boeing Co. ....................................... 54,991
----------
CONSUMER CYCLICAL -- 0.9%
95 Abercrombie & Fitch Co. Class A................... 5,773
171 eBay, Inc. B...................................... 5,900
----------
11,673
----------
CONSUMER STAPLES -- 1.0%
239 Procter & Gamble Co. ............................. 13,890
----------
ENERGY -- 3.3%
340 Halliburton Co. .................................. 26,589
380 Petro-Canada...................................... 18,686
----------
45,275
----------
FINANCE -- 24.6%
77 Chicago Mercantile Exchange Holdings, Inc. H...... 35,404
925 Commerce Bancorp, Inc. H.......................... 37,329
1,624 Countrywide Financial Corp. ...................... 66,040
416 Franklin Resources, Inc. ......................... 38,757
-- Host Hotels & Resorts, Inc. ...................... --
235 Legg Mason, Inc. ................................. 27,833
710 Nasdaq Stock Market, Inc. BH...................... 26,550
109 Progressive Corp. ................................ 11,832
370 UBS AG............................................ 43,280
985 UnitedHealth Group, Inc. ......................... 48,987
----------
336,012
----------
HEALTH CARE -- 14.5%
271 Amgen, Inc. B..................................... 18,347
183 Amylin Pharmaceuticals, Inc. BH................... 7,988
1,223 AstraZeneca plc ADR............................... 67,432
456 Elan Corp. plc ADR BH............................. 6,701
127 Genzyme Corp. B................................... 7,784
203 Gilead Sciences, Inc. B........................... 11,682
707 Sanofi-Aventis S.A. ADR........................... 33,262
1,495 Schering-Plough Corp. ............................ 28,877
423 St. Jude Medical, Inc. B.......................... 16,683
----------
198,756
----------
SERVICES -- 13.2%
322 Autodesk, Inc. B.................................. 13,530
64 Corporate Executive Board Co. .................... 6,864
391 Equifax, Inc. .................................... 15,083
316 Fluor Corp. ...................................... 29,366
58 Las Vegas Sands Corp. B........................... 3,781
221 Moody's Corp. .................................... 13,683
346 Pixar Animation Studios B......................... 22,248
315 Sap AG ADR........................................ 17,224
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SERVICES -- (CONTINUED)
552 Starwood Hotels & Resorts H....................... $ 31,668
171 United Parcel Service, Inc. Class B............... 13,878
311 Viacom, Inc. Class B B............................ 12,383
----------
179,708
----------
TECHNOLOGY -- 29.6%
1,166 Adobe Systems, Inc. B............................. 45,726
353 America Movil S.A. de C.V. ADR.................... 13,038
320 Apple Computer, Inc. B............................ 22,558
223 Danaher Corp. .................................... 14,279
994 Electronic Arts, Inc. B........................... 56,469
56 Google, Inc. B.................................... 23,505
495 Marvell Technology Group Ltd. B................... 28,232
1,130 Medtronic, Inc. H................................. 56,624
737 Microsoft Corp. .................................. 17,795
1,301 Network Appliance, Inc. B......................... 48,233
442 NVIDIA Corp. B.................................... 12,904
748 Qualcomm, Inc. ................................... 38,380
418 SanDisk Corp. BH.................................. 26,668
----------
404,411
----------
TRANSPORTATION -- 2.9%
600 General Dynamics Corp. ........................... 39,397
----------
Total common stock
(cost $1,171,426)............................... $1,332,087
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 9.2%
REPURCHASE AGREEMENTS -- 0.4%
$ 960 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 960
635 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 635
974 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 974
392 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 392
879 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 879
144 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 144
1,568 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,568
----------
5,552
----------
</Table>
The accompanying notes are an integral part of these financial statements.
138
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 8.8%
120,680 BNY Institutional Cash Reserve Fund............... $ 120,680
----------
Total short-term investments
(cost $126,232)................................. $ 126,232
----------
Total investments in securities
(cost $1,297,658) O............................. $1,458,319
==========
</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 19.30% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $1,297,837 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $185,919
Unrealized depreciation........................ (25,437)
--------
Net unrealized appreciation.................... $160,482
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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.
139
THE HARTFORD GROWTH OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 97.2%
BASIC MATERIALS -- 3.3%
199 Cameco Corp. ..................................... $ 8,093
401 Jarden Corp. BH................................... 13,633
776 Urasia Energy Ltd. B.............................. 2,254
103 Wacker Chemie AG.................................. 13,601
15 Wacker Chemie AG M................................ 1,978
----------
39,559
----------
CAPITAL GOODS -- 1.4%
196 Boeing Co. ....................................... 16,373
----------
CONSUMER CYCLICAL -- 12.7%
240 Abercrombie & Fitch Co. Class A................... 14,581
120 Advance Auto Parts, Inc. ......................... 4,814
133 Altria Group, Inc. ............................... 9,704
384 California Pizza Kitchen, Inc. B.................. 12,119
234 D.R. Horton, Inc. ................................ 7,022
203 GameStop Corp. Class A BH......................... 9,580
147 GameStop Corp. Class B B.......................... 6,252
271 Kohl's Corp. B.................................... 15,144
143 Panera Bread Co. Class A B........................ 10,615
298 Standard-Pacific Corp. ........................... 9,459
203 Target Corp. ..................................... 10,753
356 Tiffany & Co. .................................... 12,417
215 Wal-Mart Stores, Inc. ............................ 9,668
409 Williams-Sonoma, Inc. ............................ 17,108
924 Wumart Stores, Inc. BM............................ 3,039
35 Wumart Stores, Inc. .............................. 115
----------
152,390
----------
ENERGY -- 3.6%
160 Chesapeake Energy Corp. H......................... 5,053
230 Chevron Corp. .................................... 14,022
216 ConocoPhillips.................................... 14,470
66 EOG Resources, Inc. .............................. 4,649
89 GlobalSantaFe Corp. .............................. 5,454
----------
43,648
----------
FINANCE -- 5.4%
167 Host Hotels & Resorts, Inc. ...................... 3,512
2,239 Melco International Development Ltd. D............ 5,022
191 Nasdaq Stock Market, Inc. B....................... 7,155
216 Nuveen Investments, Inc. Class A.................. 10,408
169 State Street Corp. ............................... 11,013
135 UBS AG............................................ 15,786
241 UnitedHealth Group, Inc. ......................... 11,987
----------
64,883
----------
HEALTH CARE -- 20.9%
271 Alkermes, Inc. B.................................. 5,814
249 Amylin Pharmaceuticals, Inc. BH................... 10,848
270 AstraZeneca plc ADR............................... 14,902
109 AtheroGenics, Inc. BH............................. 1,548
443 Auxilium Pharmaceuticals, Inc. BH................. 3,192
456 Bristol-Myers Squibb Co. ......................... 11,571
158 Cardinal Health, Inc. ............................ 10,641
204 Cephalon, Inc. BH................................. 13,395
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
HEALTH CARE -- (CONTINUED)
178 Covance, Inc. B................................... $ 10,386
403 Digene Corp. B.................................... 16,640
220 Eisai Co., Ltd. D................................. 10,052
417 Elan Corp. plc ADR BH............................. 6,140
139 Encysive Pharmaceuticals, Inc. BH................. 593
163 Forest Laboratories, Inc. B....................... 6,594
155 ICOS Corp. BH..................................... 3,393
80 Intuitive Surgical, Inc. B........................ 10,135
270 Kissei Pharmaceutical Co., Ltd. DH................ 5,246
335 Kyphon, Inc. B.................................... 13,907
185 Lilly (Eli) & Co. ................................ 9,806
187 Medicines Co. B................................... 3,592
348 Millennium Pharmaceuticals, Inc. B................ 3,162
318 Pharmaceutical Product Development, Inc. ......... 11,414
221 Sanofi-Aventis S.A. ADR........................... 10,401
1,144 Schering-Plough Corp. ............................ 22,102
793 Shionogi & Co., Ltd. D............................ 13,371
433 St. Jude Medical, Inc. B.......................... 17,107
128 Vertex Pharmaceuticals, Inc. B.................... 4,648
----------
250,600
----------
SERVICES -- 12.0%
375 Accenture Ltd. Class A............................ 10,913
366 Bankrate, Inc. BH................................. 17,667
389 Comcast Corp. Class A B........................... 12,030
335 DreamWorks Animation SKG, Inc. B.................. 9,079
2,180 Sirius Satellite Radio, Inc. BH................... 10,201
273 Starwood Hotels & Resorts......................... 15,665
176 Stericycle, Inc. B................................ 11,562
364 Tetra Technologies, Inc. B........................ 7,076
181 United Parcel Service, Inc. Class B............... 14,682
303 Viacom, Inc. Class B B............................ 12,076
653 Walt Disney Co. .................................. 18,247
269 XM Satellite Radio Holdings, Inc. Class A B....... 5,447
----------
144,645
----------
TECHNOLOGY -- 32.7%
971 Activision, Inc. B................................ 13,780
469 Adobe Systems, Inc. B............................. 18,381
580 Altera Corp. B.................................... 12,663
299 American Tower Corp. Class A B.................... 10,222
187 Analogic Corp. ................................... 11,810
249 Applera Corp. -- Applied Biosystems Group......... 7,184
631 Cisco Systems, Inc. B............................. 13,224
343 Cognos, Inc. B.................................... 12,776
547 Corning, Inc. B................................... 15,116
373 Cree, Inc. BH..................................... 11,123
272 CSR plc BD........................................ 6,001
195 Electronic Arts, Inc. B........................... 11,099
752 EMC Corp. B....................................... 10,157
276 Energy Conversion Devices BH...................... 13,813
371 Evergreen Solar, Inc. H........................... 5,147
221 First Data Corp. ................................. 10,539
142 Garmin Ltd. H..................................... 12,220
1,782 Homestore.com, Inc. B............................. 10,942
358 International Rectifier Corp. BH.................. 16,191
</Table>
The accompanying notes are an integral part of these financial statements.
140
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
466 Medtronic, Inc. .................................. $ 23,356
637 Network Appliance, Inc. B......................... 23,599
797 Nokia Oyj ADR..................................... 18,051
508 O2Micro International ADR B....................... 5,456
980 Oracle Corp. B.................................... 14,300
293 Qualcomm, Inc. ................................... 15,063
181 Red Hat, Inc. BH.................................. 5,323
307 Redback Networks, Inc. BH......................... 6,869
226 Rockwell Collins, Inc. ........................... 12,916
347 THQ, Inc. B....................................... 8,903
231 TomTom N.V. BD.................................... 10,402
612 Verifone Holdings, Inc. BH........................ 18,951
241 Verint Systems, Inc. B............................ 7,821
----------
393,398
----------
TRANSPORTATION -- 2.5%
565 GOL Linhas Aereas Inteligentes S.A. ADR H......... 20,933
187 Ryanair Holdings plc ADR BH....................... 8,785
----------
29,718
----------
UTILITIES -- 2.7%
70 Q-Cells AG BH..................................... 6,474
423 Suntech Power Holdings ADR B...................... 14,515
197 Veolia Environnment S.A. D........................ 11,796
----------
32,785
----------
Total common stock
(cost $1,009,543)............................... $1,167,999
----------
SHORT-TERM INVESTMENTS -- 13.1%
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 13.1%
157,934 BNY Institutional Cash Reserve Fund............... $ 157,934
----------
Total short-term investments
(cost $157,934)................................. $ 157,934
----------
Total investments in securities
(cost $1,167,477) O............................. $1,325,933
==========
</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 18.73% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $61,890, which represents 5.15% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $1,168,844 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $176,297
Unrealized depreciation........................ (19,208)
--------
Net unrealized appreciation.................... $157,089
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $5,017, which represents 0.42% of total net assets.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------- -------- ---------- --------------
Canadian Dollar Sell $ 138 $ 137 05/02/2006 $ (1)
EURO Buy 10,144 10,014 05/02/2006 130
EURO Sell 768 763 05/03/2006 (5)
Japanese Yen Sell 1,880 1,879 05/08/2006 (1)
----
$123
====
</Table>
The accompanying notes are an integral part of these financial statements.
141
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ---------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 2.1%
TRANSPORTATION -- 2.1%
$ 775 American Airlines, Inc.,
7.38%, 05/23/2019............................... $ 713
1,352 Continental Airlines, Inc.,
7.373%, 12/15/2015.............................. 1,289
1,625 Continental Airlines, Inc.,
7.57%, 12/01/2006............................... 1,615
43 Continental Airlines, Inc.,
8.05%, 05/01/2022............................... 46
1,127 Continental Airlines, Inc.,
8.39%, 11/01/2020............................... 1,088
1,391 Delta Air Lines,
7.38%, 05/18/2010............................... 1,400
--------
Total asset & commercial mortgage backed
securities
(cost $6,121)................................... $ 6,151
--------
CORPORATE BONDS: INVESTMENT GRADE -- 0.2%
TECHNOLOGY -- 0.2%
MXP 7,400 Telefonos de Mexico S.A.,
8.75%, 01/31/2016 K............................. $ 643
--------
Total corporate bonds: investment grade
(cost $669)..................................... $ 643
--------
CORPORATE BONDS: NON-INVESTMENT -- 95.6%
BASIC MATERIALS -- 14.5%
1,540 Abitibi-Consolidated, Inc.,
7.75%, 06/15/2011 H............................. $ 1,525
765 Abitibi-Consolidated, Inc.,
8.41%, 06/15/2011 K............................. 776
590 Ainsworth Lumber,
8.71%, 10/01/2010 K............................. 590
305 Arco Chemical Co.,
10.25%, 11/01/2010.............................. 338
1,240 Boise Cascade LLC,
7.125%, 10/15/2014 H............................ 1,178
1,050 Bowater, Inc.,
7.91%, 03/15/2010 K............................. 1,060
1,310 California Steel Industries, Inc.,
6.125%, 03/15/2014.............................. 1,251
3,335 Cascades, Inc.,
7.25%, 02/15/2013............................... 3,160
1,000 Chaparral Steel Co.,
10.00%, 07/15/2013.............................. 1,120
1,570 Clarke American Corp.,
11.75%, 12/15/2013 M............................ 1,637
1,370 Crown Americas, Inc.,
7.75%, 11/15/2015 M............................. 1,408
660 Crown Cork & Seal Co., Inc.,
8.00%, 04/15/2023............................... 637
765 Domtar, Inc.,
7.125%, 08/01/2015.............................. 694
995 Equistar Chemicals L.P.,
8.75%, 02/15/2009............................... 1,041
1,380 Goodyear Tire & Rubber Co.,
9.00%, 07/01/2015............................... 1,421
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ---------- --------
BASIC MATERIALS -- (CONTINUED)
$ 1,640 Goodyear Tire & Rubber Co.,
11.25%, 03/01/2011.............................. $ 1,837
730 Graham Packaging Co.,
9.875%, 10/15/2014 H............................ 750
EUR 90 Huntsman International LLC,
10.125%, 07/01/2009............................. 116
1,820 Huntsman International LLC,
9.875%, 03/01/2009.............................. 1,902
425 Jorgensen (Earle M.) Co.,
9.75%, 06/01/2012............................... 459
1,364 Koppers, Inc.,
9.875%, 10/15/2013 H............................ 1,493
960 Nalco Co.,
7.75%, 11/15/2011............................... 965
EUR 1,750 Nalco Co.,
7.75%, 11/15/2011............................... 2,368
910 Nova Chemicals Corp.,
7.56%, 11/15/2013 K............................. 910
2,640 Novelis, Inc.,
7.75%, 02/15/2015 M............................. 2,561
605 Oregon Steel Mills, Inc.,
10.00%, 07/15/2009.............................. 640
1,445 Owens-Brockway Glass Container, Inc.,
8.75%, 11/15/2012............................... 1,542
1,250 Owens-Brockway Glass Container, Inc.,
8.875%, 02/15/2009.............................. 1,300
760 Phosphate Resources Partners Ltd.,
7.00%, 02/15/2008............................... 764
890 Plastipak Holdings, Inc.,
8.50%, 12/15/2015 M............................. 899
880 Ply Gem Industries, Inc.,
9.00%, 02/15/2012 H............................. 847
1,470 PolyOne Corp.,
8.875%, 05/01/2012 H............................ 1,492
650 Potlatch Corp.,
12.50%, 12/01/2009.............................. 755
1,330 Rockwood Specialties Group,
7.50%, 11/15/2014............................... 1,327
434 Rockwood Specialties Group,
10.625%, 05/15/2011............................. 471
710 Tornox Worldwide/Finance,
9.50%, 12/01/2012 M............................. 745
419 United States Steel Corp.,
10.75%, 08/01/2008.............................. 458
965 United States Steel Corp.,
9.75%, 05/15/2010............................... 1,042
--------
43,479
--------
CAPITAL GOODS -- 2.8%
1,285 Bombardier, Inc.,
6.30%, 05/01/2014 M............................. 1,185
865 Bombardier, Inc.,
6.75%, 05/01/2012 MH............................ 828
1,310 Bombardier, Inc.,
8.375%, 12/15/2013.............................. 1,379
</Table>
The accompanying notes are an integral part of these financial statements.
142
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
CAPITAL GOODS -- (CONTINUED)
$ 330 Level 3 Communications Corp.,
3.00%, 08/01/2035 H............................. $ 328
1,000 Level 3 Communications Corp.,
6.125%, 07/15/2013.............................. 960
1,275 Scientific Games Corp.,
6.25%, 12/15/2012............................... 1,230
810 Xerox Capital Trust I,
8.00%, 02/01/2027............................... 834
700 Xerox Corp.,
6.875%, 08/15/2011.............................. 711
190 Xerox Corp.,
7.625%, 06/15/2013.............................. 196
570 Xerox Corp.,
9.75%, 01/15/2009............................... 620
--------
8,271
--------
CONSUMER CYCLICAL -- 14.6%
800 Accuride Corp.,
8.50%, 02/01/2015............................... 790
410 Amerigas Partners L.P.,
7.125%, 05/20/2016.............................. 406
1,080 Amerigas Partners L.P.,
7.25%, 05/20/2015............................... 1,075
2,505 Arvinmeritor, Inc.,
8.75%, 03/01/2012 H............................. 2,571
1,600 Asbury Automotive Group,
9.00%, 06/15/2012............................... 1,652
530 Autonation, Inc.,
7.05%, 04/15/2013 MK............................ 539
1,300 Brown Shoe Co., Inc.,
8.75%, 05/01/2012............................... 1,378
1,700 Ford Capital B.V.,
6.50%, 06/01/2010............................... 1,513
3,860 Ford Motor Co.,
7.45%, 07/16/2031 H............................. 2,818
2,865 General Motors Corp.,
6.375%, 05/01/2008 H............................ 2,442
1,100 GSC Holdings Corp.,
8.00%, 10/01/2012 MH............................ 1,101
1,190 Inergy L.P.,
8.25%, 03/01/2016 M............................. 1,223
1,800 Ingles Markets, Inc.,
8.875%, 12/01/2011 H............................ 1,881
2,350 Invista,
9.25%, 05/01/2012 M............................. 2,509
875 K. Hovnanian Enterprises, Inc.,
6.125%, 01/15/2015 H............................ 805
875 KB Home,
6.25%, 06/15/2015............................... 816
1,710 Neiman Marcus Group, Inc.,
10.375%, 10/15/2015 MH.......................... 1,830
1,305 NPC International, Inc.,
9.50%, 05/01/2014 M............................. 1,318
910 Perry Ellis International, Inc.,
8.875%, 09/15/2013.............................. 915
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CONSUMER CYCLICAL -- (CONTINUED)
$ 995 Phillips Van-Heusen Corp.,
7.75%, 11/15/2023............................... $ 1,045
1,330 Rexnord Corp.,
10.125%, 12/15/2012............................. 1,460
850 Russel Metals, Inc.,
6.375%, 03/01/2014.............................. 833
1,625 SGS International, Inc.,
12.00%, 12/15/2013 M............................ 1,714
1,090 Stater Brothers Holdings, Inc.,
8.125%, 06/15/2012.............................. 1,090
1,315 Tech Olympic USA, Inc.,
9.00%, 07/01/2010............................... 1,346
2,325 Tenneco Automotive, Inc.,
8.625%, 11/15/2014 H............................ 2,354
1,364 TRW Automotive, Inc.,
9.375%, 02/15/2013.............................. 1,466
2,440 United Auto Group, Inc.,
9.625%, 03/15/2012.............................. 2,596
750 Urbi Desarrollos Urbanos,
8.50%, 04/19/2016 M............................. 758
1,400 Warnaco, Inc.,
8.875%, 06/15/2013.............................. 1,474
--------
43,718
--------
CONSUMER STAPLES -- 1.9%
640 Del Laboratories, Inc.,
9.68%, 11/01/2011 MK............................ 651
865 Doane Pet Care Co.,
10.625%, 11/15/2015............................. 1,055
1,445 Dole Food Co., Inc.,
8.625%, 05/01/2009.............................. 1,427
840 Nutro Products, Inc.,
10.75%, 04/15/2014 MZH.......................... 869
620 Nutro Products, Inc.,
9.08%, 10/15/2013 MK............................ 632
950 Pierre Foods, Inc.,
9.875%, 07/15/2012.............................. 987
--------
5,621
--------
ENERGY -- 5.0%
885 Basic Energy Services,
7.125%, 04/15/2016 M............................ 874
1,380 Chaparral Energy, Inc.,
8.50%, 12/01/2015 M............................. 1,421
596 Chesapeake Energy Corp.,
2.75%, 11/15/2035 MH............................ 633
750 Chesapeake Energy Corp.,
6.63%, 01/15/2016............................... 728
1,600 Colorado Interstate Gas,
6.80%, 11/15/2015 M............................. 1,601
2,000 Comstock Resources, Inc.,
6.875%, 03/01/2012.............................. 1,955
1,545 Encore Acquisition Co.,
7.25%, 12/01/2017............................... 1,531
875 Ferrell Gas Partners L.P.,
8.75%, 06/15/2012............................... 884
</Table>
The accompanying notes are an integral part of these financial statements.
143
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
ENERGY -- (CONTINUED)
$ 2,085 Giant Industries, Inc.,
8.00%, 05/15/2014 H............................. $ 2,142
1,014 Magnum Hunter Resources, Inc.,
9.60%, 03/15/2012............................... 1,082
400 Naftogaz Ukrainy,
8.125%, 09/30/2009.............................. 390
880 NRG Energy, Inc.,
7.25%, 02/01/2014............................... 884
905 Whiting Petroleum Corp.,
7.00%, 02/01/2014 H............................. 896
--------
15,021
--------
FINANCE -- 10.5%
2,850 American Real Estate Partners L.P.,
7.125%, 02/15/2013.............................. 2,829
765 Avis Budget Car Rental,
7.57%, 05/15/2014 MK............................ 787
1,868 BCP Crystal Holdings Corp.,
9.625%, 06/15/2014.............................. 2,055
1,250 Drummond Co., Inc.,
7.375%, 02/15/2016 M............................ 1,231
675 Felcor Lodging L.P.,
9.00%, 06/01/2011............................... 722
705 General Motors Acceptance Corp.,
5.58%, 09/15/2006 H............................. 699
530 General Motors Acceptance Corp.,
5.65%, 05/18/2006 K............................. 530
7,305 General Motors Acceptance Corp.,
6.875%, 09/15/2011.............................. 6,843
1,365 Hertz Corp.,
10.50%, 01/01/2016 M............................ 1,510
1,190 Host Marriott L.P.,
6.75%, 06/01/2016 M............................. 1,175
300 Host Marriott L.P.,
7.00%, 08/15/2012............................... 303
1,520 MDP Acquisitions,
9.625%, 10/01/2012.............................. 1,604
830 Kazkommerts International B.V.,
7.875%, 04/07/2014 M............................ 832
715 Kazkommerts International B.V.,
8.00%, 11/03/2015 M............................. 715
1,170 Multiplan Corp.,
10.375%, 04/15/2016 M........................... 1,189
1,605 Nell Af Sarl,
8.375%, 08/15/2015 MH........................... 1,591
1,250 Rainbow National Services LLC,
10.375%, 09/01/2014 M........................... 1,403
2,060 TuranAlem Finance B.V.,
8.00%, 03/24/2014............................... 2,044
985 United Rentals NA, Inc.,
6.50%, 02/15/2012............................... 965
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
FINANCE -- (CONTINUED)
$ 1,640 Universal City Florida,
9.43%, 05/01/2010 K............................. $ 1,689
735 Universal Hospital Services,
10.125%, 11/01/2011............................. 759
--------
31,475
--------
HEALTH CARE -- 1.9%
770 CRC Health Corp.,
10.75%, 02/01/2016 M............................ 791
645 HCA, Inc.,
6.375%, 01/15/2015 H............................ 621
1,895 Select Medical Corp.,
7.625%, 02/01/2015.............................. 1,710
1,475 Tenet Healthcare Corp.,
9.25%, 02/01/2015 M............................. 1,505
530 Tenet Healthcare Corp.,
9.875%, 07/01/2014.............................. 550
580 United Surgical Partners International, Inc.,
10.00%, 12/15/2011.............................. 618
--------
5,795
--------
SERVICES -- 17.7%
900 Affinion Group, Inc.,
10.125%, 10/15/2013 MH.......................... 929
2,030 Allbritton Communications Co.,
7.75%, 12/15/2012............................... 2,035
505 Allied Waste North America, Inc.,
5.75%, 02/15/2011............................... 482
400 Allied Waste North America, Inc.,
7.875%, 04/15/2013 H............................ 416
1,355 Allied Waste North America, Inc.,
8.875%, 04/01/2008.............................. 1,423
280 Allied Waste North America, Inc.,
9.25%, 09/01/2012............................... 302
1,215 AMC Entertainment, Inc.,
9.50%, 02/01/2011 H............................. 1,206
1,060 Boyd Gaming Corp.,
6.75%, 04/15/2014 H............................. 1,049
1,410 Boyd Gaming Corp.,
7.75%, 12/15/2012............................... 1,463
1,595 Cablevision Systems Corp.,
9.62%, 04/01/2009 K............................. 1,687
1,270 Cenveo Corp.,
7.875%, 12/01/2013 H............................ 1,229
1,240 Cenveo Corp.,
9.625%, 03/15/2012.............................. 1,324
1,945 Dex Media West LLC, Inc.,
8.00%, 11/15/2013 H............................. 1,996
1,920 Dex Media West LLC, Inc.,
9.875%, 08/15/2013.............................. 2,114
1,790 EchoStar Communications Corp.,
5.75%, 05/15/2008 H............................. 1,765
225 Electronic Data Systems,
3.875%, 07/15/2023.............................. 234
1,620 Hilton Hotels Corp.,
7.625%, 12/01/2012 H............................ 1,718
</Table>
The accompanying notes are an integral part of these financial statements.
144
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
SERVICES -- (CONTINUED)
$ 1,345 Intrawest Corp.,
7.50%, 10/15/2013............................... $ 1,362
1,535 Knowledge Learning Center, Inc.,
7.75%, 02/01/2015 M............................. 1,456
1,215 Liberty Media Corp.,
8.25%, 02/01/2030 H............................. 1,164
520 Little Traverse Bay Bands of Odawa,
10.25%, 02/15/2014 M............................ 512
1,415 Lodgenet Entertainment Corp.,
9.50%, 06/15/2013............................... 1,525
1,515 MGM Mirage, Inc.,
6.75%, 09/01/2012............................... 1,500
760 MGM Mirage, Inc.,
6.75%, 04/01/2013 M............................. 749
1,085 Mohegan Tribal Gaming Authority,
7.125%, 08/15/2014.............................. 1,074
805 Network Communications,
10.75%, 12/01/2013 M............................ 827
2,445 Penn National Gaming, Inc.,
6.75%, 03/01/2015............................... 2,402
1,365 Quebecor World Capital Corp.,
8.75%, 03/15/2016 M............................. 1,320
690 Service Corp. International,
6.75%, 04/01/2016............................... 666
300 Service Corp. International,
7.875%, 02/01/2013.............................. 311
1,480 Sheridan Group, Inc.,
10.25%, 08/15/2011.............................. 1,524
900 Sinclair Broadcasting Group,
6.00%, 09/15/2012............................... 785
2,605 Sirius Satellite Radio, Inc.,
9.625%, 08/01/2013 H............................ 2,546
1,800 Starwood Hotels & Resorts Worldwide, Inc.,
7.875%, 05/01/2012.............................. 1,935
1,000 Station Casinos, Inc.,
6.50%, 02/01/2014............................... 973
1,600 Stewart Enterprises, Inc.,
7.75%, 02/15/2013 M............................. 1,536
880 Sungard Data Systems, Inc.,
3.75%, 01/15/2009............................... 814
1,545 Sungard Data Systems, Inc.,
10.25%, 08/15/2015 M............................ 1,661
1,400 Town Sports International, Inc.,
9.625%, 04/15/2011 H............................ 1,474
1,180 Unisys Corp.,
7.875%, 04/01/2008.............................. 1,174
2,270 Wynn Las Vegas LLC Corp.,
6.625%, 12/01/2014.............................. 2,208
--------
52,870
--------
TECHNOLOGY -- 17.6%
580 Activant Solutions, Inc.,
9.50%, 05/01/2016 M............................. 590
787 Advanced Micro Devices, Inc.,
7.75%, 11/01/2012 H............................. 824
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
TECHNOLOGY -- (CONTINUED)
$ 1,915 American Cellular Corp.,
10.00%, 08/01/2011.............................. $ 2,078
750 Amkor Technologies, Inc.,
10.50%, 05/01/2009.............................. 764
850 Atlantic Broadband Finance LLC,
9.375%, 01/15/2014 H............................ 811
1,540 CCH II LLC,
10.25%, 09/15/2010 M............................ 1,546
1,300 Celestica, Inc.,
7.625%, 07/01/2013 H............................ 1,300
1,460 Centennial Communications Corp.,
10.74%, 01/01/2013 K............................ 1,526
2,795 Charter Communications Holdings LLC,
9.92%, 04/01/2011 H............................. 1,733
1,575 Charter Communications Operating LLC,
8.00%, 04/30/2012 M............................. 1,583
1,190 Charter Communications Operating LLC,
8.375%, 04/30/2014 M............................ 1,196
740 Cincinnati Bell, Inc.,
7.25%, 07/15/2013............................... 755
1,480 Citizens Communications Co.,
9.00%, 08/15/2031............................... 1,587
1,400 Citizens Communications Co.,
9.25%, 05/15/2011............................... 1,538
435 CSC Holdings, Inc.,
7.25%, 07/15/2008............................... 440
1,990 CSC Holdings, Inc.,
8.125%, 07/15/2009.............................. 2,065
790 Hawaiian Telecom Communications, Inc.,
12.50%, 05/01/2015 M............................ 833
1,300 Inmarsat Finance plc,
7.625%, 06/30/2012.............................. 1,333
1,590 Insight Capital,
10.50%, 11/01/2010.............................. 1,671
900 Intelsat Ltd.,
6.50%, 11/01/2013............................... 707
1,470 Intelsat Ltd.,
7.625%, 04/15/2012 H............................ 1,261
1,465 Intelsat Ltd.,
8.25%, 01/15/2013............................... 1,492
1,600 Itron, Inc.,
7.75%, 05/15/2012............................... 1,644
1,760 Level 3 Financing, Inc.,
12.25%, 03/15/2013 M............................ 1,883
1,104 Lucent Technologies, Inc.,
6.45%, 03/15/2029............................... 980
2,485 Mediacom LLC,
9.50%, 01/15/2013 H............................. 2,541
1,025 Nordic Telecommunications Co.,
8.875%, 05/01/2016 M............................ 1,066
3,930 Qwest Communications International,
7.50%, 02/15/2014 H............................. 3,959
1,600 Qwest Corp.,
6.875%, 09/15/2033 H............................ 1,478
1,130 Qwest Corp.,
7.50%, 06/15/2023............................... 1,122
</Table>
The accompanying notes are an integral part of these financial statements.
145
THE HARTFORD HIGH YIELD FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
$ 1,235 Rogers Cable, Inc.,
6.25%, 06/15/2013............................... $ 1,203
200 Rogers Wireless, Inc.,
9.75%, 06/01/2016............................... 240
1,000 Rural Cellular Corp.,
8.25%, 03/15/2012 M............................. 1,050
1,600 Rural Cellular Corp.,
10.43%, 11/01/2012 MKH.......................... 1,664
1,120 Sanmina-Sci Corp.,
8.125%, 03/01/2016.............................. 1,137
1,320 Solectron Corp.,
8.00%, 03/15/2016 MH............................ 1,337
1,210 States Chippac Ltd.,
7.50%, 07/19/2010............................... 1,225
865 Stratos Global Corp.,
9.875%, 02/15/2013 MH........................... 868
740 UGS Corp.,
10.00%, 06/01/2012.............................. 808
840 Valor Telecom Enterprise,
7.75%, 02/15/2015............................... 874
--------
52,712
--------
TRANSPORTATION -- 1.2%
385 American Airlines, Inc.,
7.379%, 05/23/2016.............................. 349
1,225 Greenbrier Cos., Inc.,
8.375%, 05/15/2015.............................. 1,282
690 PNC Funding Corp.,
7.50%, 11/01/2009 M............................. 683
1,300 Trinity Industries, Inc.,
6.50%, 03/15/2014............................... 1,251
--------
3,565
--------
UTILITIES -- 7.9%
1,825 AES China Generating Co., Ltd.,
8.25%, 06/26/2010............................... 1,832
1,270 AES Corp.,
8.75%, 05/15/2013 M............................. 1,375
2,280 Aquila, Inc.,
7.625%, 11/15/2009.............................. 2,340
1,395 Atlas Pipeline Partners,
8.125%, 12/15/2015 M............................ 1,440
2,000 Chivor S.S. E.S.P.,
9.75%, 12/30/2014............................... 2,250
1,805 Copano Energy LLC,
8.125%, 03/01/2016 M............................ 1,855
500 Edison Mission Energy Corp.,
7.73%, 06/15/2009 H............................. 512
2,100 Edison Mission Energy Corp.,
9.875%, 4/15/2011............................... 2,368
1,436 Elwood Energy LLC,
8.16%, 07/02/2026............................... 1,526
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ---------- --------
UTILITIES -- (CONTINUED)
$ 1,200 Mirant Amergias Generation LLC,
8.50%, 10/01/2021............................... $ 1,215
640 Mirant Americas Generation LLC,
9.125%, 05/01/2031.............................. 673
1,485 NRG Energy, Inc.,
7.375%, 02/01/2016.............................. 1,498
1,475 Reliant Energy, Inc.,
6.75%, 12/15/2014............................... 1,342
1,000 Sithe/Independence Funding Corp.,
9.00%, 12/30/2013............................... 1,088
1,281 Tenaska Alabama Partners L.P.,
7.00%, 06/30/2021 M............................. 1,266
1,170 Tennessee Gas Pipeline Co.,
7.50%, 04/01/2017............................... 1,221
--------
23,801
--------
Total corporate bonds:
non-investment
(cost $285,327)................................. $286,328
--------
U.S. GOVERNMENT AGENCIES -- 1.0%
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 1.0%
340,000 1.75% 2008........................................ $ 3,047
--------
Total U.S. government agencies
(cost $2,933)................................... $ 3,047
--------
COMMON STOCK -- 0.0%
CONSUMER CYCLICAL -- 0.0%
1 Hosiery Corp. of America, Inc. Class A BVD........ $ --
--------
Total common stock
(cost $21)...................................... $ --
--------
PREFERRED STOCK -- 0.0%
TECHNOLOGY -- 0.0%
20 Adelphia Communications Corp. B................... $ 1
--------
Total preferred stock
(cost $488)..................................... $ 1
--------
Total long-term investments
(cost $295,559)................................. $296,170
--------
SHORT-TERM INVESTMENTS -- 13.8%
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 13.7%
40,893 Navigator Prime Portfolio......................... $ 40,893
--------
U.S. TREASURY BILLS -- 0.2%
500 US Treasury Bill,
4.53%, 06/15/2006 Z[ ].......................... 497
--------
Total short-term investments
(cost $41,390).................................. $ 41,390
--------
Total investments in securities
(cost $336,949) O............................... $337,560
========
</Table>
The accompanying notes are an integral part of these financial statements.
146
- --------------------------------------------------------------------------------
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 11.96% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006 rounded to zero.
U All principal amounts are in U.S. dollars unless otherwise indicated.
EUR -- EURO
MXP -- Mexican Peso
O At April 30, 2006, the cost of securities for federal income tax
purposes was $337,204 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 3,694
Unrealized depreciation......................... (3,338)
-------
Net unrealized appreciation..................... $ 356
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 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
-------- ---------- -------- ----------
October, 1 Hosiery Corp. of
1994.. America, Inc. Class
A -- 144A $21
</Table>
The aggregate value of these securities at April 30, 2006 rounded to
zero.
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 April 30, 2006, was $68,890, which represents 23.01% of total net
assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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 April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FUTURES CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
NUMBER OF APPRECIATION
DESCRIPTION CONTRACTS POSITION EXPIRATION (DEPRECIATION)
- ----------- --------- -------- ---------- --------------
CBT 5 Year U.S. Treasury Note futures contracts 86 Short June 2006 $88
===
</Table>
These contracts had a market value of $8,957 as of April 30, 2006
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Sell $3,007 $ 3,000 05/16/2006 $(7)
Mexican Peso Sell 658 658 05/31/2006 --
---
$(7)
===
</Table>
The accompanying notes are an integral part of these financial statements.
147
THE HARTFORD INCOME ALLOCATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 99.2%
FIXED INCOME FUNDS -- 92.3%
280 Hartford Floating Rate Fund, Class Y.............. $ 2,835
632 Hartford High Yield Fund, Class Y................. 4,968
175 Hartford Income Fund, Class Y..................... 1,774
552 Hartford Inflation Plus Fund, Class Y............. 5,698
759 Hartford Short Duration Fund, Class Y............. 7,443
980 Hartford Total Return Bond Fund, Class Y.......... 10,298
-------
Total fixed income funds
(cost $33,836).................................. $33,016
-------
MONEY MARKET FUND -- 6.9%
2,474 Hartford Money Market Fund, Class Y............... 2,474
-------
Total money market fund
(cost $2,473)................................... $ 2,474
-------
Total investments in affiliated
investment companies
(cost $36,309) O................................ $35,490
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $36,363 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $ --
Unrealized depreciation.......................... (873)
-----
Net unrealized depreciation...................... $(873)
=====
</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.
148
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
MUNICIPAL BONDS -- 0.2%
GENERAL OBLIGATIONS -- 0.2%
$ 150 State of Illinois,
5.10%, Taxable Pension, 06/01/2033.............. $ 135
-------
Total municipal bonds
(cost $150)..................................... $ 135
-------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 20.5%
FINANCE -- 20.2%
137 Americredit Automobile Receivables Trust,
5.20%, 03/06/2011............................... $ 136
4,056 Banc of America Commercial Mortgage, Inc.,
4.08%,12/10/2042 W.............................. 86
3,133 Banc of America Commercial Mortgage, Inc.,
5.50%,11/10/2039 MW............................. 81
25,241 Banc of America Commercial Mortgage, Inc.,
5.50%, 07/10/2043 MW............................ 254
8,126 Banc of America Commercial Mortgage, Inc.,
5.75%, 06/10/2039 W............................. 81
54 Bank One Issuance Trust,
6.04%, 12/15/2010 K............................. 55
200 Bayview Commercial Asset Trust,
5.33%, 04/25/2036 MK............................ 200
250 Bayview Financial Acquisition Trust,
5.32%, 02/28/2040 MK............................ 250
200 Bear Stearns Commercial Mortgage Securities, Inc.,
5.29%, 06/11/2041............................... 197
3,464 Bear Stearns Commercial Mortgage Securities, Inc.,
5.50%, 02/11/2041 MW............................ 78
50 Capital Auto Receivables Asset Trust,
4.73%, 09/15/2010............................... 49
230 Capital One Auto Finance Trust,
4.32%, 05/15/2010............................... 225
25 Capital One Master Trust,
6.05%, 06/15/2009 K............................. 25
250 Capital Trust RE CDO Ltd.,
6.00%, 10/20/2043 MK............................ 250
1,060 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 06/01/2036 MW............................ 70
1,474 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 07/25/2035 MW............................ 72
31 Chase Funding Mortgage Loan,
8.45%, 02/25/2030............................... 31
30 Chase Manhattan Auto Owner Trust,
2.57%, 02/16/2010............................... 29
45 Chemical Master Credit Card Trust,
7.09%, 02/15/2009............................... 45
150 Chuo Mitsui Trust & Banking Ltd.,
5.51%, 04/15/2049 M............................. 140
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
FINANCE -- (CONTINUED)
$ 75 Citibank Credit Card Issuance Trust,
5.00%, 06/10/2015............................... $ 71
2,390 Citigroup Commercial Mortgage Trust,
4.10%, 10/15/2041 MW............................ 93
300 Citigroup Commercial Mortgage Trust,
5.06%, 05/15/2043............................... 283
6,326 Commercial Mortgage Pass-Through Certificates,
5.50%, 03/10/2039 MW............................ 139
200 Commercial Mortgage Pass-Through Certificates,
5.57%, 02/05/2019 K............................. 198
49 Countrywide Asset-Backed Certificates,
5.46%, 05/25/2035............................... 48
2,818 CS First Boston Mortgage Securities Corp.,
4.15%, 11/15/2037 MW............................ 92
200 CS First Boston Mortgage Securities Corp.,
6.85%, 11/15/2019 MK............................ 198
200 Daimler Chrysler Auto Trust,
5.14%, 09/08/2012............................... 199
100 Equity One ABS, Inc.,
5.46%, 12/25/2033............................... 99
50 Equity One ABS, Inc.,
7.46%, 07/25/2034 K............................. 50
172 First Union-Lehman Brothers -- Bank of America,
6.56%, 11/18/2035............................... 174
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............................... 194
55,544 GE Capital Commercial Mortgage Corp.,
6.35%, 11/10/2045 MW............................ 138
145 GMAC Commercial Mortgage Securities, Inc.,
3.34%, 05/10/2036............................... 135
200 GMAC Commercial Mortgage Securities, Inc.,
4.65%, 04/10/2040............................... 193
200 GMAC Commercial Mortgage Securities, Inc.,
5.30%, 08/10/2038............................... 194
125 Goldman Sachs Auto Loan Trust,
4.98%, 11/15/2013............................... 124
50 Green Tree Financial Corp.,
6.48%, 12/01/2030............................... 50
21 Green Tree Financial Corp.,
7.30%, 01/15/2026............................... 21
17 Green Tree Financial Corp.,
7.35%, 05/15/2027............................... 17
200 Greenwich Capital Commercial Funding Corp.,
4.02%, 01/5/2036................................ 193
</Table>
The accompanying notes are an integral part of these financial statements.
149
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 213 Hasco HIM Trust,
6.25%, 12/25/2035 M............................. $ 213
200 Home Equity Asset Trust,
4.75%, 06/27/2035 M............................. 198
200 Hyundai Auto Receivables Trust,
5.52%, 11/15/2012............................... 200
4,761 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 W............................. 81
200 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.13%, 01/12/2038............................... 192
170 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.38%, 10/12/2037............................... 166
188 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.95%, 11/12/2039............................... 177
220 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.47%, 04/15/2043 K............................. 215
2,369 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.50%, 01/15/2038 MW............................ 66
350 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.65%, 02/15/2020 MK............................ 350
250 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.72%, 12/12/2044............................... 245
17,658 JP Morgan Chase Commercial Mortgage Securities
Corp.,
6.00%, 09/12/2037 MW............................ 192
190 JP Morgan Chase Commercial Mortgage Securities
Corp.,
6.16%, 05/12/2034............................... 195
26,090 LB-UBS Commercial Mortgage Trust,
5.26%, 06/15/2036 MW............................ 189
200 Lehman Brothers Commercial Mortgage Trust,
5.70%, 07/15/2018 MK............................ 200
250 LNR CDO Ltd.,
5.46%, 05/28/2043 MK............................ 250
200 Long Beach Asset Holdings Corp. NIM,
5.78%, 04/25/2046 M............................. 200
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............................... 188
16,428 Morgan Stanley Capital I,
6.00%, 06/12/2047 MW............................ 197
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
FINANCE -- (CONTINUED)
$ 200 Morgan Stanley Dean Witter Capital I,
4.17%, 12/15/2041............................... $ 192
109 Morgan Stanley Dean Witter Capital I,
5.38%, 01/15/2039............................... 109
39 Navistar Financial Corp. Owner Trust,
3.08%, 11/15/2009............................... 39
150 Providian Master Note Trust,
5.45%, 03/16/2015 K............................. 150
80 Renaissance Home Equity Loan Trust,
5.707%, 05/25/2036.............................. 79
200 Renaissance Home Equity Loan Trust,
6.16%, 05/25/2036............................... 199
64 Residential Asset Mortgage Products, Inc.,
3.68%, 08/25/2026............................... 64
975 Small Business Administration Participation
Certificates,
5.35%, 02/01/2026............................... 953
1,000 Small Business Administration Participation
Certificates,
5.57%, 03/01/2026............................... 992
1,000 Small Business Administration Participation
Certificates,
5.64%, 04/01/2026............................... 1,002
14 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 14
200 Wachovia Bank Commercial Mortgage Trust,
4.39%, 02/15/2041............................... 189
100 Wachovia Bank Commercial Mortgage Trust,
4.87%, 02/15/2035............................... 96
7,025 Wachovia Bank Commercial Mortgage Trust,
5.50%, 02/15/2041 MW............................ 163
26 WFS Financial Owner Trust,
3.05%, 12/20/2010............................... 26
35 WFS Financial Owner Trust,
3.13%, 05/17/2012............................... 34
-------
13,767
-------
TRANSPORTATION -- 0.3%
130 Continental Airlines, Inc.,
7.57%, 12/01/2006............................... 129
3 Continental Airlines, Inc.,
8.05%, 05/01/2022............................... 4
53 Northwest Airlines, Inc.,
6.81%, 02/01/2020............................... 52
-------
185
-------
Total asset & commercial mortgage backed
securities
(cost $14,220).................................. $13,952
-------
</Table>
The accompanying notes are an integral part of these financial statements.
150
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CORPORATE BONDS: INVESTMENT GRADE -- 23.4%
BASIC MATERIALS -- 0.8%
$ 38 Fortune Brands, Inc.,
5.125%, 01/15/2011.............................. $ 37
125 ICI Wilmington Co.,
5.625%, 12/01/2013.............................. 121
100 International Paper Co.,
5.25%, 04/01/2016............................... 92
65 Lubrizol Corp.,
5.50%, 10/01/2014............................... 62
125 Noranda, Inc.,
6.00%, 10/15/2015............................... 121
100 Vale Overseas Ltd.,
8.25%, 01/17/2034............................... 111
-------
544
-------
CONSUMER CYCLICAL -- 2.5%
150 Centex Corp.,
5.70%, 05/15/2014............................... 144
75 CRH America, Inc.,
5.30%, 10/15/2013............................... 72
100 D.R. Horton, Inc.,
5.625%, 09/15/2014.............................. 94
95 D.R. Horton, Inc.,
6.00%, 04/15/2011............................... 94
200 DaimlerChrysler NA Holdings Corp.,
6.50%, 11/15/2013............................... 203
150 Foster's Finance Corp.,
4.875%, 10/01/2014 M............................ 137
125 J.C. Penny Co., Inc.,
7.95%, 04/01/2017............................... 140
150 Johnson Controls, Inc.,
5.50%, 01/15/2016............................... 144
100 Lennar Corp.,
5.95%, 03/01/2013............................... 98
100 Ltd. Brands, Inc.,
5.25%, 11/01/2014............................... 92
175 May Department Stores Co.,
5.75%, 07/15/2014............................... 172
125 Pulte Homes, Inc.,
5.20%, 02/15/2015............................... 114
150 Safeway, Inc.,
5.625%, 08/15/2014.............................. 145
100 WMC Finance USA,
5.125%, 05/15/2013.............................. 96
-------
1,745
-------
CONSUMER STAPLES -- 0.2%
100 Weyerhaeuser Co.,
6.75%, 03/15/2012............................... 104
-------
ENERGY -- 1.4%
75 Consumers Energy Co.,
5.375%, 04/15/2013.............................. 72
50 Consumers Energy Co.,
6.00%, 02/15/2014............................... 50
115 Gazprom International S.A.,
7.20%, 02/01/2020............................... 119
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ----------- -------
ENERGY -- (CONTINUED)
$ 100 Gazprom International S.A.,
7.20%, 02/01/2020 M............................. $ 104
120 Pemex Project Funding Master Trust,
7.375%, 12/15/2014.............................. 127
110 Petrobras International Finance Co.,
7.75%, 09/15/2014............................... 119
125 USX Corp.,
9.375%, 02/15/2012.............................. 146
175 Valero Energy Corp.,
7.50%, 04/15/2032............................... 196
-------
933
-------
FINANCE -- 9.2%
125 Ace INA Holdings, Inc.,
5.875%, 06/15/2014.............................. 123
100 AES El Salvador,
6.75%, 02/01/2016 M............................. 96
100 AMB Property L.P.,
7.50%, 06/30/2018............................... 108
150 Archstone-Smith Operating Trust,
5.25%, 05/01/2015............................... 142
150 Arden Realty L.P.,
5.20%, 09/01/2011............................... 148
200 BAE Systems Holdings, Inc.,
5.20%, 08/15/2015 M............................. 186
100 Banco Continental Panama,
6.625%, 12/01/2010 M............................ 99
90 Banco Nacional De Mtn Be,
3.875%, 01/21/2009 M............................ 85
100 Camden Property Trust,
5.00%, 06/15/2015............................... 92
125 Capital One Bank Corp.,
5.125%, 02/15/2014.............................. 119
75 Capital One Bank Corp.,
6.50%, 06/13/2013............................... 78
150 CIT Group, Inc.,
5.125%, 09/30/2014.............................. 142
90 Deutsche Bank Capital Funding Trust,
5.628%, 01/19/2016 M............................ 85
100 Farmers Exchange Capital,
7.20%, 07/15/2048 M............................. 96
MXP 2,500 General Electric Capital Corp.,
9.50%, 08/04/2010............................... 230
125 Goldman Sachs Group, Inc.,
5.15%, 01/15/2014............................... 119
75 Goldman Sachs Group, Inc.,
5.25%, 04/01/2013............................... 73
225 HSBC Capital Funding L.P.,
4.61%, 12/27/2049 M............................. 205
200 Hutchison Whampoa International Ltd.,
6.25%, 01/24/2014 M............................. 202
165 iStar Financial, Inc.,
5.70%, 03/01/2014............................... 159
50 JP Morgan Chase & Co.,
5.125%, 09/15/2014.............................. 48
175 JP Morgan Chase & Co.,
5.25%, 05/01/2015............................... 167
</Table>
The accompanying notes are an integral part of these financial statements.
151
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 40 Kazkommerts International B.V.,
7.875%, 04/07/2014 M............................ $ 40
150 Kazkommerts International B.V.,
7.875%, 04/07/2014.............................. 151
175 Key Bank NA,
5.80%, 07/01/2014............................... 174
200 Kuzneski (Bank of Moscow),
7.50%, 11/25/2015............................... 201
157 Lehman Brothers Holdings, Inc.,
5.50%, 04/04/2016............................... 152
175 MBNA Corp.,
6.125%, 03/01/2013.............................. 179
135 Merrill Lynch & Co.,
6.875%, 11/15/2018.............................. 146
200 Mizuho Financial Group, Inc.,
5.79%, 04/15/2014 M............................. 198
175 Morgan Stanley Dean Witter, Inc.,
4.75%, 04/01/2014............................... 162
100 Natexis AMBS Co. LLC,
8.44%, 12/29/2049 M............................. 106
150 Northern Rock plc,
5.60%, 04/30/2049 M............................. 144
175 Public Bank Berhad,
5.00%, 06/20/2017............................... 164
200 Rabobank Capital Funding II,
5.26%, 12/29/2049 M............................. 190
158 Residential Capital Corp.,
6.00%, 02/22/2011............................... 155
110 Residential Capital Corp.,
6.375%, 06/30/2010.............................. 110
100 Resona Bank Ltd.,
5.85%, 12/31/2049 M............................. 96
100 Santander Central Hispano Issuances Ltd.,
7.625%, 09/14/2010.............................. 108
75 Shurgard Storage Centers, Inc.,
5.875%, 03/15/2013.............................. 75
100 Sumitomo Mitsui Banking,
5.63%, 10/15/2015 M............................. 96
100 Swedbank Foreningssparbanken,
9.00%, 12/31/2049 M............................. 112
150 Toll Brothers Finance Corp.,
5.15%, 05/15/2015............................... 134
125 TuranAlem Finance B.V.,
8.00%, 03/24/2014............................... 124
100 UFJ Finance Aruba AEC,
6.75%, 07/15/2013............................... 105
100 Washington Mutual, Inc.,
4.625%, 04/01/2014.............................. 91
150 Westfield Capital Corp.,
5.125%, 11/15/2014 M............................ 141
50 Westpac Capital Trust III,
5.82%, 09/30/2013 M............................. 49
100 Westpac Capital Trust IV,
5.26%, 12/31/2049 M............................. 93
-------
6,298
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ----------- -------
FOREIGN GOVERNMENTS -- 1.4%
$ 25 El Salvador (Republic of),
8.25%, 04/10/2032 M............................. $ 27
100 El Salvador (Republic of),
8.50%, 07/25/2011............................... 110
HUF 26,000 Hungary (Republic of),
8.00%, 02/12/2015............................... 133
100 South Africa (Republic of),
7.375%, 04/25/2012.............................. 107
130 United Mexican States,
5.625%, 01/15/2017.............................. 124
88 United Mexican States,
6.625%, 03/03/2015.............................. 91
50 United Mexican States,
6.75%, 09/27/2034............................... 51
MXP 3,500 United Mexican States,
9.00%, 12/22/2011............................... 325
-------
968
-------
HEALTH CARE -- 0.8%
150 Cardinal Health, Inc.,
4.00%, 06/15/2015............................... 130
150 Manor Care, Inc.,
6.25%, 05/01/2013............................... 148
100 Universal Health Services, Inc.,
6.75%, 11/15/2011............................... 102
150 Wyeth,
5.50%, 02/01/2014............................... 147
-------
527
-------
SERVICES -- 2.4%
10 American Greetings Corp.,
6.10%, 08/01/2028............................... 10
175 Belo Corp.,
7.25%, 09/15/2027............................... 170
150 Clear Channel Communications, Inc.,
5.50%, 09/15/2014............................... 138
200 Cox Communications, Inc.,
4.625%, 06/01/2013.............................. 182
30 Electronic Data Systems,
3.875%, 07/15/2023.............................. 31
75 Harrah's Operating Co., Inc.,
5.375%, 12/15/2013.............................. 71
150 Hyatt Equities LLC,
6.875%, 06/15/2007 M............................ 152
150 Marriott International, Inc.,
5.81%, 11/10/2015 M............................. 146
150 Mashantucket Western Pequot Revenue Bond,
5.91%, 09/01/2021 M............................. 141
150 News America Holdings, Inc.,
7.75%, 1/20/2024................................ 160
50 News America Holdings, Inc.,
9.25%, 02/01/2013............................... 58
150 Scholastic Corp.,
5.00%, 04/15/2013............................... 130
50 Time Warner Entertainment Co. L.P.,
8.375%, 03/15/2023.............................. 56
</Table>
The accompanying notes are an integral part of these financial statements.
152
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ----------- -------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
SERVICES -- (CONTINUED)
$ 160 Turner Broadcasting System, Inc.,
8.375%, 07/01/2013.............................. $ 177
-------
1,622
-------
TECHNOLOGY -- 2.3%
MXP 1,200 American Movil SA de CV,
9.00%, 01/15/2016............................... 106
210 Cingular Wireless Services, Inc.,
8.125%, 05/01/2012.............................. 235
100 Comcast Cable Communications, Inc.,
6.75%, 01/30/2011............................... 104
100 Comcast Cable Communications, Inc.,
8.875%, 05/01/2017.............................. 118
150 Deutsche Telekom International Finance B.V.,
5.25%, 07/22/2013............................... 143
150 France Telecom S.A.,
8.00%, 03/01/2011............................... 163
150 Motorola, Inc.,
8.00%, 11/01/2011............................... 167
100 Sprint Capital Corp.,
6.90%, 05/01/2019............................... 106
150 Tele-Communications, Inc.,
7.875%, 08/01/2013.............................. 164
MXP 1,400 Telefonos de Mexico S.A.,
8.75%, 01/31/2016 K............................. 122
150 Thomas & Betts Corp.,
7.25%, 06/01/2013............................... 157
-------
1,585
-------
TRANSPORTATION -- 0.9%
125 American Airlines, Inc.,
7.86%, 10/01/2011............................... 133
110 Carnival Corp.,
6.65%, 01/15/2028............................... 111
100 Continental Airlines, Inc.,
6.56%, 02/15/2012............................... 103
100 Continental Airlines, Inc.,
7.45%, 10/02/2010............................... 103
150 Royal Caribbean Cruises Ltd.,
6.875%, 12/01/2013.............................. 153
-------
603
-------
UTILITIES -- 1.5%
100 Appalachian Power Co.,
5.00%, 06/01/2017............................... 91
150 Duke Energy Corp.,
5.30%, 10/01/2015............................... 145
125 Kinder Morgan, Inc.,
5.15%, 03/01/2015............................... 116
50 NorthWestern Corp.,
7.30%, 12/01/2006 M............................. 50
100 Tampa Electric Co.,
6.375%, 08/15/2012.............................. 103
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
UTILITIES -- (CONTINUED)
$ 100 Texas-New Mexico Power Co.,
6.125%, 06/01/2008.............................. $ 101
400 TransAlta Corp.,
5.75%, 12/15/2013............................... 390
-------
996
-------
Total corporate bonds: investment grade
(cost $16,496).................................. $15,925
-------
CORPORATE BONDS: NON-INVESTMENT -- 31.0%
BASIC MATERIALS -- 4.3%
150 Abitibi-Consolidated, Inc.,
7.75%, 06/15/2011............................... $ 149
100 Asia Aluminum Holdings Ltd.,
8.00%, 12/23/2011 M............................. 95
150 Boise Cascade LLC,
7.125%, 10/15/2014.............................. 143
150 Bowater, Inc.,
7.91%, 03/15/2010 K............................. 152
100 California Steel Industries, Inc.,
6.125%, 03/15/2014.............................. 96
150 Cascades, Inc.,
7.25%, 02/15/2013............................... 142
150 Chaparral Steel Co.,
10.00%, 07/15/2013.............................. 168
120 Chemtura Corp.,
6.875%, 06/01/2016.............................. 120
125 Clarke American Corp.,
11.75%, 12/15/2013 M............................ 130
110 Crown Americas, Inc.,
7.75%, 11/15/2015 M............................. 113
50 CSN Islands IX Corp.,
10%, 01/15/2015................................. 58
150 Domtar, Inc.,
5.375%, 12/01/2013.............................. 126
25 Equistar Chemicals L.P.,
8.75%, 02/15/2009............................... 26
100 Evraz Group S.A.,
8.25%, 11/10/2015 M............................. 101
75 Goodyear Tire & Rubber Co.,
9.00%, 07/01/2015............................... 77
125 Goodyear Tire & Rubber Co.,
11.25%, 03/01/2011.............................. 140
102 Koppers, Inc.,
9.875%, 10/15/2013.............................. 112
55 Nova Chemicals Corp.,
7.56%, 11/15/2013 K............................. 55
145 Novelis, Inc.,
7.75%, 02/15/2015 M............................. 141
75 Owens-Brockway Glass Container, Inc.,
8.75%, 11/15/2012 80
100 Phosphate Resources Partners Ltd.,
7.00%, 02/15/2008............................... 101
100 Plastipak Holdings, Inc.,
8.50%, 12/15/2015 M............................. 101
150 PolyOne Corp.,
8.875%, 05/01/2012.............................. 152
</Table>
The accompanying notes are an integral part of these financial statements.
153
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
BASIC MATERIALS -- (CONTINUED)
$ 150 Tornox Worldwide/Finance,
9.50%, 12/01/2012 M............................. $ 158
33 United States Steel Corp.,
10.75%, 08/01/2008.............................. 36
100 Vedanta Resource plc,
6.625%, 02/22/2010.............................. 98
100 Westlake Chemical Corp.,
6.625%, 01/15/2016.............................. 96
-------
2,966
-------
CAPITAL GOODS -- 0.6%
100 Bombardier Recreational Products, Inc.,
8.375%, 12/15/2013.............................. 105
200 Bombardier, Inc.,
6.75%, 05/01/2012 M............................. 192
100 Steinway Music Instruments,
7.00%, 03/01/2014 M............................. 99
-------
396
-------
CONSUMER CYCLICAL -- 4.3%
125 Amerigas Partners L.P.,
7.125%, 05/20/2016.............................. 124
150 Arvinmeritor, Inc.,
8.75%, 03/01/2012............................... 154
85 Asbury Automotive Group,
9.00%, 06/15/2012............................... 88
85 Autonation, Inc.,
7.05%, 04/15/2013 MK............................ 86
50 Brown Shoe Co., Inc.,
8.75%, 05/01/2012............................... 53
130 Delhaize America, Inc.,
9.00%, 04/15/2031............................... 148
370 Ford Capital B.V.,
6.50%, 06/01/2010............................... 329
110 General Motors Corp.,
6.375%, 05/01/2008.............................. 94
90 GSC Holdings Corp.,
8.00%, 10/01/2012 M............................. 90
150 Inergy L.P.,
8.25%, 03/01/2016 M............................. 154
175 Ingles Markets, Inc.,
8.875%, 12/01/2011.............................. 183
50 Invista,
9.25%, 05/01/2012 M............................. 53
150 Neiman Marcus Group, Inc.,
10.375%, 10/15/2015 M........................... 161
75 Phillips Van-Heusen Corp.,
7.75%, 11/15/2023............................... 79
145 Rexnord Corp.,
10.125%, 12/15/2012............................. 159
65 Russel Metals, Inc.,
6.375%, 03/01/2014.............................. 64
150 SGS International, Inc.,
12.00%, 12/15/2013 M............................ 158
105 Stater Brothers Holdings, Inc.,
8.125%, 06/15/2012.............................. 105
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CONSUMER CYCLICAL -- (CONTINUED)
$ 100 Tech Olympic USA, Inc.,
9.00%, 07/01/2010............................... $ 102
150 Tenneco Automotive, Inc.,
8.625%, 11/15/2014.............................. 152
150 TRW Automotive, Inc.,
9.375%, 02/15/2013.............................. 161
100 Urbi Desarrollos Urbanos,
8.50%, 04/19/2016 M............................. 101
100 Warnaco, Inc.,
8.875%, 06/15/2013.............................. 105
-------
2,903
-------
CONSUMER STAPLES -- 1.1%
110 Del Laboratories, Inc.,
9.68%, 11/01/2011 MK............................ 112
115 Doane Pet Care Co.,
10.625%, 11/15/2015............................. 140
150 Dole Food Co., Inc.,
8.625%, 05/01/2009.............................. 148
150 Nutros Products, Inc.,
10.75%, 04/15/2014 MZ........................... 155
90 Pierre Foods, Inc.,
9.875%, 07/15/2012.............................. 93
100 Smithfield Foods, Inc.,
7.75%, 05/15/2013............................... 101
-------
749
-------
ENERGY -- 2.1%
100 Braskem S.A.,
9.375%, 06/01/2015.............................. 110
115 Chaparral Energy, Inc.,
8.50%, 12/01/2015 M............................. 118
43 Chesapeake Energy Corp.,
2.75%, 11/15/2035 M............................. 46
150 Cie Gen Geophysique,
7.50%, 05/15/2015 M............................. 155
50 Colorado Interstate Gas,
6.80%, 11/15/2015 M............................. 50
120 Comstock Resources, Inc.,
6.875%, 03/01/2012.............................. 117
150 Encore Acquisition Co.,
7.25%, 12/01/2017............................... 149
100 Giant Industries, Inc.,
8.00%, 05/15/2014............................... 103
105 Intergas Finance BV,
6.875%, 11/04/2011.............................. 106
80 MEI Euro Finance Ltd,
8.75%, 05/22/2010............................... 82
100 Naftogaz Ukrainy,
8.125%, 09/30/2009.............................. 97
100 Petrozuata Finance, Inc.,
8.22%, 04/01/2017 M............................. 99
50 Sibneft,
11.50%, 02/13/2007.............................. 52
</Table>
The accompanying notes are an integral part of these financial statements.
154
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ----------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
ENERGY -- (CONTINUED)
$ 150 Whiting Petroleum Corp.,
7.00%, 02/01/2014............................... $ 149
-------
1,433
-------
FINANCE -- 2.1%
110 American Real Estate Partners L.P.,
7.125%, 02/15/2013.............................. 109
60 Antam Finance Ltd.,
7.375%, 09/30/2010.............................. 60
100 ATF Bank,
8.875%, 11/01/2009.............................. 102
150 Avis Budget Car Rental,
7.57%, 05/15/2014 MK............................ 154
110 Banco Votorantim S.A.,
6.875%, 10/14/2015 M............................ 110
75 BCP Crystal Holdings Corp.,
9.625%, 06/15/2014.............................. 83
200 Dredner (Exim Ukraine),
7.75%, 09/23/2009............................... 202
150 General Motors Acceptance Corp.,
6.875%, 09/15/2011.............................. 141
150 Hertz Corp.,
10.50%, 01/01/2016 M............................ 166
100 Host Marriott L.P.,
6.375%, 03/15/2015.............................. 97
50 Host Marriott L.P.,
6.75%, 06/01/2016 M............................. 49
150 MDP Acquisitions,
9.625%, 10/01/2012.............................. 158
-------
1,431
-------
FOREIGN GOVERNMENTS -- 3.6%
206 Argentina (Republic of),
4.01%, 08/03/2012 K............................. 194
38 Argentina (Republic of),
8.28%, 12/31/2033............................... 38
150 Brazil (Republic of),
7.875%, 03/07/2015.............................. 162
BRL 250 Brazil (Republic of),
12.50%, 01/05/2016.............................. 120
65 Colombia (Republic of),
10.505%, 07/09/2010............................. 75
75 Ecuador (Republic of),
9.00%, 08/15/2030............................... 77
30 Ecuador (Republic of),
12.00%, 11/15/2012.............................. 30
30 El Salvador (Republic of),
7.65%, 06/15/2035............................... 30
30 Indonesia (Republic of),
6.75%, 03/10/2014............................... 30
80 Indonesia (Republic of),
7.25%, 04/20/2015............................... 82
105 Jamaica Government,
10.625%, 06/20/2017............................. 121
75 Lebanese Republic,
10.125%, 08/06/2008............................. 80
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT U VALUE U
- ----------- -------
FOREIGN GOVERNMENTS -- (CONTINUED)
$ 15 Panama (Republic of),
8.875%, 09/30/2027.............................. $ 18
160 Panama (Republic of),
9.375%, 07/23/2012.............................. 184
140 Peru (Republic of),
3.00%, 03/07/2027 V............................. 95
55 Peru (Republic of),
9.125%, 02/21/2012.............................. 61
160 Peru (Republic of),
9.875%, 02/06/2015.............................. 190
EUR 100 Philippines (Republic of),
6.25%, 03/15/2016............................... 128
100 Phillippines (Republic of),
7.75%, 01/14/2031............................... 101
75 Philippines (Republic of),
8.375%, 02/15/2011.............................. 81
70 Philippines (Republic of),
10.625%, 03/16/2025............................. 90
60 Turkey (Republic of),
7.25%, 03/15/2015............................... 62
100 Ukraine Government,
7.65%, 06/11/2013............................... 104
50 Uruguay (Republic of),
7.50%, 03/15/2015............................... 52
100 Uruguay (Republic of),
8.00%, 11/18/2022............................... 103
130 Venezuela (Republic of),
5.375%, 08/07/2010.............................. 126
-------
2,434
-------
HEALTH CARE -- 0.5%
150 CRC Health Corp.,
10.75%, 02/01/2016 M............................ 154
140 HCA, Inc.,
6.50%, 02/15/2016............................... 135
70 Select Medical Corp.,
7.625%, 02/01/2015.............................. 63
-------
352
-------
SERVICES -- 5.7%
150 Affinion Group, Inc.,
10.125%, 10/15/2013 M........................... 155
110 Allied Waste North America, Inc.,
5.75%, 02/15/2011............................... 105
55 Allied Waste North America, Inc.,
8.875%, 04/01/2008.............................. 58
150 Cenveo Corp.,
9.625%, 03/15/2012.............................. 160
130 Dex Media West LLC, Inc.,
8.00%, 11/15/2013............................... 133
195 Dex Media West LLC, Inc.,
9.875%, 08/15/2013.............................. 215
651 Dow Jones CDX HY,
6.75%, 06/29/2010 M............................. 651
634 Dow Jones CDX,
7.25%, 12/29/2010 M............................. 638
</Table>
The accompanying notes are an integral part of these financial statements.
155
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
SERVICES -- (CONTINUED)
$ 10 Dow Jones,
8.75%, 12/29/2010 M............................. $ 11
100 Hilton Hotels Corp.,
7.50%, 12/15/2017............................... 105
100 ITT Corp.,
7.375%, 11/15/2015.............................. 106
85 Knowledge Learning Center, Inc.,
7.75%, 02/01/2015 M............................. 81
175 Liberty Media Corp.,
5.70%, 05/15/2013............................... 163
65 Little Traverse Bay Bands of Odawa,
10.25%, 02/15/2014 M............................ 64
150 Lodgenet Entertainment Corp.,
9.50%, 06/15/2013............................... 162
100 Network Communications,
10.75%, 12/01/2013 M............................ 103
200 Penn National Gaming, Inc.,
6.75%, 03/01/2015............................... 197
65 Quebecor World Capital Corp.,
8.75%, 03/15/2016 M............................. 63
110 Reader's Digest Association, Inc.,
6.50%, 03/1/2011................................ 107
100 Service Corp. International,
7.70%, 04/15/2009............................... 102
150 Sheridan Group, Inc.,
10.25%, 08/15/2011.............................. 154
100 Sirius Satellite Radio, Inc.,
9.625%, 08/01/2013.............................. 98
60 Sun Media Corp.,
7.625%, 02/15/2013.............................. 61
50 Sungard Data Systems, Inc.,
3.75%, 01/15/2009............................... 46
50 Sungard Data Systems, Inc.,
10.25%, 08/15/2015 M............................ 54
125 Town Sports International, Inc.,
9.625%, 04/15/2011.............................. 131
70 Unisys Corp.,
7.875%, 04/01/2008.............................. 70
-------
3,993
-------
TECHNOLOGY -- 3.9%
95 Advanced Micro Devices, Inc.,
7.75%, 11/01/2012............................... 100
100 Atlantic Broadband Finance LLC,
9.375%, 01/15/2014.............................. 95
130 Charter Communications Operating LLC,
8.00%, 04/30/2012 M............................. 131
50 Citizens Communications Co.,
9.00%, 08/15/2031............................... 54
100 Citizens Communications Co.,
9.25%, 05/15/2011............................... 110
65 CSC Holdings, Inc.,
8.125%, 07/15/2009.............................. 67
150 Echostar DBS Corp.,
7.125%, 02/01/2016 M............................ 146
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
TECHNOLOGY -- (CONTINUED)
$ 50 Hawaiian Telecom Communications, Inc.,
12.50%, 05/01/2015 M............................ $ 53
150 Inmarsat Finance plc,
7.625%, 06/30/2012.............................. 154
135 Insight Capital,
10.50%, 11/01/2010.............................. 142
110 Intelsat Ltd.,
6.50%, 11/01/2013............................... 86
100 Itron, Inc.,
7.75%, 05/15/2012............................... 103
80 Mediacom LLC,
9.50%, 01/15/2013............................... 82
150 Nextel Partners, Inc.,
8.125%, 07/01/2011.............................. 157
135 Nordic Telecommunications Co.,
8.875%, 05/01/2016 M............................ 140
250 Qwest Communications International,
7.50%, 02/15/2014............................... 252
150 Rogers Wireless Communications, Inc.,
6.375%, 03/01/2014.............................. 148
150 Rural Cellular Corp.,
8.25%, 03/15/2012 M............................. 157
130 Sanmina-Sci Corp.,
8.125%, 03/01/2016.............................. 132
150 Solectron Corp.,
8.00%, 03/15/2016 M............................. 152
100 Stratos Global Corp.,
9.875%, 02/15/2013 M............................ 100
75 Valor Telecom Enterprise,
7.75%, 02/15/2015............................... 78
-------
2,639
-------
TRANSPORTATION -- 0.6%
35 American Airlines, Inc.,
7.379%, 05/23/2016.............................. 31
75 Greenbrier Cos., Inc.,
8.375%, 05/15/2015.............................. 78
135 PNC Funding Corp.,
7.50%, 11/01/2009 M............................. 134
150 Trinity Industries, Inc.,
6.50%, 03/15/2014............................... 144
-------
387
-------
UTILITIES -- 2.2%
100 AES China Generating Co., Ltd.,
8.25%, 06/26/2010............................... 100
130 Atlas Pipeline Partners,
8.125%, 12/15/2015 M............................ 134
83 Ce Casecnan Water & Energy,
11.95%, 11/15/2010.............................. 90
100 Chivor S.S. E.S.P.,
9.75%, 12/30/2014............................... 113
110 Citco Trustees Cayman Ltd.,
8.50%, 12/21/2014 M............................. 114
105 Copano Energy LLC,
8.125%, 03/01/2016 M............................ 108
</Table>
The accompanying notes are an integral part of these financial statements.
156
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
UTILITIES -- (CONTINUED)
$ 166 Elwood Energy LLC,
8.16%, 07/02/2026............................... $ 177
100 Mirant Amergias Generation LLC,
8.50%, 10/01/2021............................... 101
65 Nevada Power Co.,
9.00%, 08/15/2013............................... 71
100 NRG Energy, Inc.,
7.375%, 02/01/2016.............................. 101
45 Reliant Energy, Inc.,
6.75%, 12/15/2014............................... 41
120 Sithe/Independence Funding Corp.,
9.00%, 12/30/2013............................... 131
99 Tenaska Alabama Partners L.P.,
7.00%, 06/30/2021 M............................. 97
100 Tennessee Gas Pipeline Co.,
8.375%, 06/15/2032.............................. 111
-------
1,489
-------
Total corporate bonds: non-investment
(cost $21,088).................................. $21,172
-------
U.S. GOVERNMENT SECURITIES -- 4.4%
U.S. TREASURY SECURITIES -- 4.4%
1,200 3.875% 2009 J..................................... $ 1,526
285 4.50% 2009 -- 2015................................ 277
910 5.15% 2026 Z...................................... 309
90 5.25% 2028........................................ 89
425 5.375% 2031....................................... 431
350 6.25% 2030........................................ 396
-------
Total U.S. government securities
(cost $3,119)................................... $ 3,028
-------
U.S. GOVERNMENT AGENCIES -- 17.5%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 5.7%
200 4.10% 2014........................................ $ 192
567 5.50% 2032........................................ 553
1,300 6.00% 2032........................................ 1,289
390 6.25% 2032........................................ 426
1,401 6.50% 2032........................................ 1,429
-------
3,889
-------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 11.8%
3,385 4.01% 2009........................................ 3,261
1,176 5.00% 2017 -- 2035................................ 1,131
296 5.23% 2035........................................ 291
3,491 5.50% 2032 -- 2034................................ 3,398
-------
8,081
-------
Total U.S. government agencies
(cost $12,313).................................. $11,970
-------
Total long-term investments
(cost $67,386).................................. $66,182
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- -------
SHORT-TERM INVESTMENTS -- 0.7%
REPURCHASE AGREEMENTS -- 0.6%
$ 145 BNP Paribas Repurchase Agreement,
4.67%, 05/01/2006............................... $ 145
135 RBS Greenwich Repurchase Agreement,
4.65%, 05/01/2006............................... 135
155 UBS Warburg Securities, Inc. Repurchase Agreement,
4.68%, 05/01/2006............................... 155
-------
435
-------
U.S. TREASURY BILLS -- 0.1%
50 US Treasury Bill,
4.30%, 07/06/2006 Z [ ]......................... 50
-------
Total short-term investments
(cost $485)..................................... $ 485
-------
Total investments in securities
(cost $67,871) O................................ $66,667
=======
</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 15.99% of total net assets at April 30, 2006.
U All principal amounts are in U.S. dollars unless otherwise indicated.
<Table>
MXP -- Mexican Peso
BRL -- Brazilian Real
EUR -- EURO
HUF -- Hungarian Forint
</Table>
O At April 30, 2006, the cost of securities for federal income tax
purposes was $67,872 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 427
Unrealized depreciation......................... (1,632)
-------
Net unrealized depreciation..................... $(1,205)
=======
</Table>
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 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
--------------- ---------- -------- ----------
December 2005.. 140 Peru (Republic
of), 3.00%,
03/07/2027 $103
</Table>
The aggregate value of these securities at April 30, 2006 was $95,
which represents 0.14% 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 April
30, 2006, was $14,134, which represents 20.72% of total net assets.
The accompanying notes are an integral part of these financial statements.
157
THE HARTFORD INCOME FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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.
[ ]Security pledged as initial margin deposit for open futures contracts
at April 30, 2006.
W The interest rates disclosed for interest only strips represent
effective yields based upon estimated future cash flows at April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FUTURES CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
NUMBER OF APPRECIATION
DESCRIPTION CONTRACTS POSITION EXPIRATION (DEPRECIATION)
- ----------- --------- -------- ---------- --------------
CBT 5 Year U.S. Treasury Note futures contract 10 Short June 2006 $ 9
CBT 10 Year U.S. Treasury Note futures contract 15 Short June 2006 35
---
$44
===
</Table>
These contracts had a market value of $2,625 as of April 30, 2006.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Sell $ 129 $ 124 06/05/2006 $(5)
Euro Buy 1,721 1,700 05/10/2006 21
Hungarian Forint Sell 142 139 05/24/2006 (3)
Mexican Peso Sell 768 768 05/31/2006 --
Mexican Peso Buy 337 334 05/31/2006 3
---
$16
===
</Table>
The accompanying notes are an integral part of these financial statements.
158
THE HARTFORD INFLATION PLUS FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 0.7%
FINANCE -- 0.7%
$ 945 American Express Credit Account Master Trust,
5.40%, 02/15/2012 MK............................ $ 948
3,000 Countrywide Asset Backed Certificates,
5.16%, 07/25/2035 K............................. 3,001
2,000 Wachovia Bank Commercial Mortgage Trust,
5.36%, 10/15/2015 MK............................ 2,001
--------
Total asset & commercial mortgage backed
securities
(cost $5,945)................................... $ 5,950
--------
CORPORATE BONDS: INVESTMENT GRADE -- 0.3%
FINANCE -- 0.3%
2,600 SLM Corp.,
5.04%, 04/01/2009 K............................. $ 2,531
--------
Total corporate bonds: investment grade
(cost $2,604)................................... $ 2,531
--------
U.S. GOVERNMENT SECURITIES -- 98.6%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.4%
3,000 Tennessee Valley Authority,
3.375%, 01/15/2007 J............................ $ 3,793
--------
U.S. TREASURY SECURITIES -- 98.2%
29,170 0.875% 2010 J..................................... 29,096
78,362 1.625% 2015 J..................................... 76,859
57,535 1.875% 2013 J..................................... 60,470
207,616 2.00% 2014/2026 J................................. 207,642
75,990 2.375% 2025 J..................................... 79,140
41,430 3.00% 2012 J...................................... 47,722
18,265 3.375% 2012/2032 J................................ 24,286
20,455 3.50% 2011 J...................................... 24,730
89,897 3.625% 2008/2028 J................................ 122,850
93,450 3.875% 2009/2029 J................................ 126,443
32,695 4.25% 2010 J...................................... 41,572
560 4.50% 2016........................................ 536
--------
841,346
--------
Total U.S. government securities
(cost $868,518)................................. $845,139
--------
Total long-term investments
(cost $877,067)................................. $853,620
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 0.0%
U.S. TREASURY BILLS -- 0.0%
$ 150 US Treasury Bill,
4.30%, 07/06/2006 Z[ ].......................... $ 149
--------
Total short-term investments
(cost $149)..................................... $ 149
--------
Total investments in securities
(cost $877,216) O............................... $853,769
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $879,784 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ --
Unrealized depreciation........................ (26,015)
--------
Net unrealized depreciation.................... $(26,015)
========
</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 April 30, 2006, was $2,949, which represents 0.34% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
[ ]Security pledged as initial margin deposit for open futures contracts
at April 30, 2006.
FUTURES CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
NUMBER OF APPRECIATION
DESCRIPTION CONTRACTS POSITION EXPIRATION (DEPRECIATION)
- ----------- --------- -------- ---------- --------------
US Long Bond Futures 100 Short June 2006 $(24)
====
</Table>
These contracts had a market value of $(10,684) as of April 30, 2006.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------- -------- ---------- --------------
British Sterling Pound Buy $10,014 $9,655 07/06/2006 $ 359
British Sterling Pound Sell 10,014 9,534 07/06/2006 (480)
-----
$(121)
=====
</Table>
The accompanying notes are an integral part of these financial statements.
159
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 94.4%
AUSTRIA -- 1.2%
33 Erste Bank Der Oesterreichischen Sparkassen
AG B M.......................................... $ 1,988
32 Erste Bank Der Oesterreichischen Sparkassen
AG DH........................................... 1,949
--------
3,937
--------
BELGIUM -- 1.2%
34 KBC Bankverzekeringsholdings DH................... 3,959
--------
CANADA -- 5.7%
90 Cameco Corp. ..................................... 3,659
69 Inco Ltd. ........................................ 3,919
60 Petro-Canada...................................... 2,961
112 SNC-Lavalin Group, Inc. .......................... 3,249
59 Suncor Energy, Inc. .............................. 5,052
--------
18,840
--------
FINLAND -- 2.2%
320 Nokia Oyj ADR..................................... 7,258
--------
FRANCE -- 16.5%
166 Altran Technologies S.A. BD....................... 2,397
32 Cie Generale d'Optique Essilor International
S.A. DH......................................... 3,214
20 Dassault Systemes S.A. DH......................... 1,106
38 Groupe Danone D................................... 4,712
65 LVMH Moet Hennessy Louis Vuitton S.A. DH.......... 6,859
64 PSA Peugeot Citroen DH............................ 4,236
73 Sanofi-Aventis S.A. DH............................ 6,904
16 Total S.A. DH..................................... 4,331
19 Unibail DH........................................ 3,347
5 Vallourec D....................................... 6,672
176 Veolia Environnment S.A. DH....................... 10,516
--------
54,294
--------
GERMANY -- 6.0%
173 Commerzbank AG DH................................. 7,154
45 Hypo Real Estate Holding AG DH.................... 3,164
17 SAP AG ADR D...................................... 3,640
61 Siemens AG D...................................... 5,782
--------
19,740
--------
GREECE -- 0.9%
78 Opap S.A. D....................................... 2,880
--------
HONG KONG -- 0.6%
1,572 Shun Tak Holdings Ltd DH.......................... 1,997
--------
IRELAND -- 0.5%
38 Ryanair Holdings plc ADR BH....................... 1,770
--------
ISRAEL -- 0.6%
48 Teva Pharmaceutical Industries Ltd. ADR........... 1,948
--------
ITALY -- 0.6%
283 UniCredito Italiano S.p.A. DH..................... 2,135
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
JAPAN -- 16.7%
38 Credit Saison Co. Ltd. D.......................... $ 1,989
62 Daiichi Sankyo Co., Ltd. D........................ 1,587
1 Dentsu, Inc. D.................................... 2,938
86 Eisai Co., Ltd. DH................................ 3,936
156 JSR Corp. DH...................................... 4,793
123 Jteckt Corp. DH................................... 2,647
82 Matsushita Electric Industrial Co., Ltd. D........ 1,978
@@ Mitsubishi UFJ Financial Group, Inc. D............ 5,191
110 Nippon Electric Glass Co., Ltd. DH................ 2,465
7 Rakuten, Inc. DH.................................. 5,358
285 Sharp Corp. D..................................... 4,987
442 Shinsei Bank Ltd. D............................... 3,087
153 Sumitomo Realty & Development DH.................. 4,049
56 Tokyo Electron Ltd. D............................. 4,033
104 Toyota Motor Corp. D.............................. 6,070
--------
55,108
--------
LUXEMBOURG -- 3.0%
227 Citigroup Global Certificate -- Bharti
Televentures B MD............................... 2,034
239 SES Global S.A. DH................................ 3,923
85 Tenaris S.A. ADR.................................. 3,879
--------
9,836
--------
MEXICO -- 3.4%
154 America Movil S.A. de C.V. ADR.................... 5,695
258 Grupo Televisa S.A. ADR........................... 5,470
--------
11,165
--------
NETHERLANDS -- 4.4%
195 ASML Holding N.V. BD.............................. 4,129
64 Euronext D........................................ 5,698
132 Koninklijke (Royal) Philips Electronics N.V. BD... 4,563
--------
14,390
--------
NORWAY -- 1.5%
151 Statoil ASA D..................................... 4,940
--------
SOUTH KOREA -- 2.6%
49 Lotte Shopping Co. GDR B M........................ 1,001
50 Lotte Shopping Co. GDR B.......................... 1,037
10 Samsung Electronics Co., Ltd. D................... 6,560
--------
8,598
--------
SPAIN -- 1.0%
143 Banco Bilbao Vizcaya Argentaria S.A. DH........... 3,156
--------
SWEDEN -- 2.0%
52 Atlas Copco AB DH................................. 1,549
1,408 Telefonaktiebolaget LM Ericsson DH................ 4,997
--------
6,546
--------
SWITZERLAND -- 6.3%
2 Kuehne & Nagel International AG D................. 843
115 Logitech International S.A. BD.................... 4,755
33 Roche Holding AG D................................ 5,072
</Table>
The accompanying notes are an integral part of these financial statements.
160
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
SWITZERLAND -- (CONTINUED)
105 Swatch Group AG DH................................ $ 3,847
53 UBS AG DH......................................... 6,232
--------
20,749
--------
TAIWAN -- 0.7%
339 Hon Hai Precision Industry Co., Ltd. D............ 2,290
--------
UNITED KINGDOM -- 16.8%
72 Anglo American plc D.............................. 3,093
1,586 Arm Holdings plc D................................ 3,893
112 AstraZeneca plc D................................. 6,149
121 BHP Billiton plc D................................ 2,488
1,102 Carphone Warehouse Group plc D.................... 6,698
1,219 EMI Group plc D................................... 6,292
305 London Stock Exchange plc......................... 6,880
43 Man Group plc D................................... 1,989
254 Pearson plc D..................................... 3,497
200 Reckitt Benckiser plc D........................... 7,286
149 Standard Chartered plc D.......................... 3,947
87 Xstrata plc DH.................................... 3,145
--------
55,357
--------
Total common stock
(cost $260,633)................................. $310,893
--------
PREFERRED STOCKS -- 1.3%
GERMANY -- 1.3%
151 Prosieben Sat.1 Media AG.......................... $ 4,188
--------
Total preferred stocks
(cost $3,812)................................... $ 4,188
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 26.5%
REPURCHASE AGREEMENTS -- 4.2%
$2,405 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 2,405
1,592 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,592
2,438 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 2,438
982 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 982
2,201 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 2,201
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 361 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... $ 361
3,928 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 3,928
--------
13,907
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 22.3%
73,465 Navigator Prime Portfolio......................... 73,465
--------
Total short-term investments
(cost $87,372).................................. $ 87,372
--------
Total investments in securities
(cost $351,817) O............................... $402,453
========
</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 95.63% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $255,127, which represents 77.43% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $353,125 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $50,190
Unrealized depreciation......................... (862)
-------
Net unrealized appreciation..................... $49,328
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April
30, 2006, was $5,023, which represents 1.52% 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.
161
THE HARTFORD INTERNATIONAL CAPITAL APPRECIATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Swiss Francs Buy $ 53 $ 51 05/02/2006 $ 2
Swiss Francs Buy 124 122 05/03/2006 2
Swiss Francs Buy 136 136 05/04/2006 --
Euro Buy 590 582 05/02/2006 8
Euro Sell 165 164 05/03/2006 (1)
Euro Sell 738 738 05/04/2006 --
Swiss Francs Buy 1,011 1,000 05/03/2006 11
British Pound Buy 671 671 05/04/2006 --
Swedish Krona Buy 644 633 05/02/2006 11
---
$33
===
</Table>
DIVERSIFICATION BY INDUSTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ---------------------------------------------------------------
Basic Materials 10.4%
- ---------------------------------------------------------------
Capital Goods 0.5
- ---------------------------------------------------------------
Consumer Cyclical 9.8
- ---------------------------------------------------------------
Consumer Staples 3.6
- ---------------------------------------------------------------
Energy 5.2
- ---------------------------------------------------------------
Finance 20.6
- ---------------------------------------------------------------
Health Care 8.7
- ---------------------------------------------------------------
Services 10.5
- ---------------------------------------------------------------
Technology 22.3
- ---------------------------------------------------------------
Transportation 0.8
- ---------------------------------------------------------------
Utilities 3.2
- ---------------------------------------------------------------
Short-Term Investments 26.5
- ---------------------------------------------------------------
Other Assets & Liabilities (22.1)
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
162
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.6%
AUSTRALIA -- 2.1%
151 Santos Ltd. D..................................... $ 1,353
197 Westpac Banking Corp. D........................... 3,765
--------
5,118
--------
BRAZIL -- 2.0%
65 Companhia Vale do Rio Doce ADR.................... 3,349
43 Usinas Siderurgicas De Minas Gerais S.A. ......... 1,620
--------
4,969
--------
CANADA -- 7.1%
81 Alcan, Inc. H..................................... 4,219
62 Cameco Corp. ..................................... 2,500
62 EnCana Corp. ..................................... 3,094
56 Inco Ltd. H....................................... 3,165
43 OPTI Canada, Inc. B............................... 1,662
49 Talisman Energy, Inc. H........................... 2,745
--------
17,385
--------
FINLAND -- 2.3%
249 Nokia Oyj D....................................... 5,647
--------
FRANCE -- 13.0%
44 Carrefour S.A. BD................................. 2,521
30 Cie Generale d'Optique Essilor International
S.A. DH......................................... 2,972
28 CNP Assurances DH................................. 3,063
85 Credit Agricole S.A. DH........................... 3,440
32 Lafarge S.A. DH................................... 3,905
32 LVMH Moet Hennessy Louis Vuitton S.A. DH.......... 3,362
56 PSA Peugeot Citroen DH............................ 3,654
57 Sanofi-Aventis S.A. DH............................ 5,385
14 Total S.A. DH..................................... 3,951
--------
32,253
--------
GERMANY -- 5.1%
37 E.On AG BDH....................................... 4,533
24 Muenchener Rueckversicherungs-Gesellschaft
AG DH........................................... 3,348
21 SAP AG ADR DH..................................... 4,639
--------
12,520
--------
GREECE -- 0.8%
5 Opap S.A. BD...................................... 175
49 Opap S.A. D....................................... 1,808
--------
1,983
--------
HONG KONG -- 1.3%
438 Hong Kong Exchanges & Clearing Ltd. D............. 3,148
--------
HUNGARY -- 0.5%
10 Mol Magyr Olaj-Es Gazipari D...................... 1,240
--------
INDIA -- 0.8%
27 Infosys Technologies Ltd. D....................... 1,898
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
IRELAND -- 0.8%
72 Ryanair Holdings plc BD........................... $ 596
28 Ryanair Holdings plc ADR BH....................... 1,299
--------
1,895
--------
ITALY -- 5.2%
624 Banca Intesa S.p.A. DH............................ 3,697
161 Bulgari S.p.A. DH................................. 2,002
24 Tod's S.p.A. D.................................... 1,934
669 UniCredito Italiano S.p.A. DH..................... 5,041
--------
12,674
--------
JAPAN -- 18.8%
53 Astellas Pharma, Inc. D........................... 2,218
28 Canon, Inc. D..................................... 2,143
33 Credit Saison Co. Ltd. DH......................... 1,721
86 Daiichi Sankyo Co., Ltd. D........................ 2,207
59 Denso Corp. D..................................... 2,300
61 Eisai Co., Ltd. DH................................ 2,777
116 Matsui Securities Co., Ltd. BDH................... 1,549
750 Mitsubishi Heavy Industries D..................... 3,698
-- Mitsubishi UFJ Financial Group, Inc. D............ 3,768
286 Mitsui & Co., Ltd. DH............................. 4,328
-- Nippon Telegraph & Telephone Corp. D.............. 2,233
368 Obayashi Corp. DH................................. 2,814
26 Promise Co., Ltd. DH.............................. 1,584
88 Seven & I Holdings Co., Ltd. D.................... 3,417
265 Shinsei Bank Ltd. D............................... 1,851
68 Sony Corp. DH..................................... 3,335
54 Terumo Corp. D.................................... 1,933
44 Toyota Motor Corp. D.............................. 2,576
--------
46,452
--------
LUXEMBOURG -- 0.5%
42 Ternium S.A. ADR B................................ 1,114
--------
MEXICO -- 2.1%
37 America Movil S.A. de C.V. ADR.................... 1,380
461 Grupo Televisa S.A. H............................. 1,964
614 Walmart De Mexico................................. 1,751
--------
5,095
--------
NETHERLANDS -- 1.3%
89 Koninklijke (Royal) Philips Electronics
N.V. BDH........................................ 3,082
--------
NORWAY -- 3.4%
257 Statoil ASA DH.................................... 8,411
--------
SOUTH AFRICA -- 1.5%
184 MTN Group Ltd. MD................................. 1,832
138 Standard Bank Group Ltd. D........................ 1,969
--------
3,801
--------
SOUTH KOREA -- 1.0%
3 Samsung Electronics Co., Ltd. D................... 2,376
--------
</Table>
The accompanying notes are an integral part of these financial statements.
163
THE HARTFORD INTERNATIONAL OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
SPAIN -- 3.8%
330 Banco Bilbao Vizcaya Argentaria S.A. DH........... $ 7,289
774 Iberia Lineas Aer De Espana DH.................... 2,167
--------
9,456
--------
SWEDEN -- 1.6%
1,104 Telefonaktiebolaget LM Ericsson DH................ 3,918
--------
SWITZERLAND -- 9.4%
79 Credit Suisse Group H............................. 4,941
32 Nestle S.A. DH.................................... 9,610
50 UBS AG DH......................................... 5,836
11 Zurich Financial Services AG D.................... 2,609
--------
22,996
--------
TAIWAN -- 3.5%
617 Chunghwa Telecom Co., Ltd. D...................... 1,186
146 Chunghwa Telecom Co., Ltd. ADR.................... 3,014
536 Powertech Technology, Inc. BD..................... 1,843
3,259 Yuanta Core Pacific Securities Co. BD............. 2,494
--------
8,537
--------
UNITED KINGDOM -- 8.7%
66 AstraZeneca plc D................................. 3,623
325 EMI Group plc D................................... 1,679
102 London Stock Exchange plc......................... 2,310
1,050 Old Mutual plc D.................................. 3,665
87 Reckitt Benckiser plc D........................... 3,182
134 Smiths Group plc D................................ 2,476
128 Xstrata plc DH.................................... 4,614
--------
21,549
--------
Total common stock
(cost $201,037)................................. $237,517
--------
PRINCIPAL
AMOUNT
------
SHORT-TERM INVESTMENTS -- 26.3%
REPURCHASE AGREEMENTS -- 2.2%
$ 927 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 927
613 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 613
940 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 940
379 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 379
848 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 848
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 139 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... $ 139
1,514 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,514
--------
5,360
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 24.1%
59,347 Navigator Prime Portfolio......................... 59,347
--------
Total short-term investments
(cost $64,707).................................. $ 64,707
--------
Total investments in securities
(cost $265,744) O............................... $302,224
========
</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 96.62% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $197,390, which represents 80.30% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $265,856 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $36,929
Unrealized depreciation......................... (561)
-------
Net unrealized appreciation..................... $36,368
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $1,832, which represents 0.75% 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.
164
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Buy $ 479 $ 473 05/02/2006 $ 6
Euro Buy 417 414 05/03/2006 3
Euro Sell 1,590 1,591 05/04/2006 1
British Pound Sell 293 287 05/02/2006 (6)
British Pound Sell 868 858 05/03/2006 (10)
British Pound Sell 1,257 1,235 07/26/2005 (22)
Mexican Peso Buy 342 343 05/03/2006 (1)
Swiss Franc Sell 1,285 1,247 07/26/2006 (38)
----
$(67)
====
</Table>
DIVERSIFICATION BY INDUSTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ---------------------------------------------------------------
Basic Materials 10.0%
- ---------------------------------------------------------------
Capital Goods 1.5
- ---------------------------------------------------------------
Consumer Cyclical 12.5
- ---------------------------------------------------------------
Consumer Staples 5.2
- ---------------------------------------------------------------
Energy 9.1
- ---------------------------------------------------------------
Finance 27.3
- ---------------------------------------------------------------
Health Care 8.6
- ---------------------------------------------------------------
Services 4.9
- ---------------------------------------------------------------
Technology 14.0
- ---------------------------------------------------------------
Transportation 1.7
- ---------------------------------------------------------------
Utilities 1.8
- ---------------------------------------------------------------
Short-Term Investments 26.3
- ---------------------------------------------------------------
Other Assets & Liabilities (22.9)
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
The accompanying notes are an integral part of these financial statements.
165
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 94.4%
AUSTRALIA -- 5.2%
71 ABB Grain Ltd. D.................................. $ 412
518 Adsteam Marine Ltd. DH............................ 796
247 AWB Ltd. DH....................................... 836
341 Dyno Nobel Ltd. BM................................ 679
152 Excel Coal Ltd. DH................................ 988
281 Harvey Norman Holdings Ltd. DH.................... 809
439 Multiplex Group D................................. 1,023
285 PaperlinX Ltd. DH................................. 726
66 Publishing & Broadcasting Ltd. D.................. 928
89 Santos Ltd. D..................................... 804
199 Transurban Group DH............................... 1,000
--------
9,001
--------
BELGIUM -- 0.7%
4 S.A. D'Ieteren N.V. D............................. 1,310
--------
CHINA -- 1.3%
1,973 Beijing Capital International Airport Co.,
Ltd. D.......................................... 1,144
1,971 China Oilfield Services Ltd. DH................... 1,088
--------
2,232
--------
DENMARK -- 1.2%
18 Carlsberg A/S Class B DH.......................... 1,210
15 Trygvesta A.S. DH................................. 932
--------
2,142
--------
FINLAND -- 1.7%
110 M-real Oyj D...................................... 713
56 Nokian Rendaat Oyj DH............................. 953
42 Tietoenator Oyj DH................................ 1,305
--------
2,971
--------
FRANCE -- 5.9%
9 Bacou-Dalloz DH................................... 1,215
24 bioMerieux S.A. DH................................ 1,481
10 Cegedim S.A. DH................................... 928
37 Dassault Systemes S.A. DH......................... 2,011
6 Klepierre MD...................................... 735
32 M6-Metropole Television DH........................ 987
10 SEB S.A. D........................................ 1,202
18 Sodexho Alliance S.A. DH.......................... 860
5 Unibail D......................................... 911
--------
10,330
--------
GERMANY -- 8.0%
14 Altana AG H....................................... 872
28 AWD Holding AG DH................................. 988
12 Deutsche Euroshop D............................... 869
67 ELMOS Semiconductor AG BDH........................ 794
125 GEA Group AG BDH.................................. 2,360
56 Kontron AG BDH.................................... 630
28 MLP AG D.......................................... 689
79 MTU Aero Engines Holdings AG BD................... 2,865
49 Praktiker Bau-Und Heimwerkermaerkte Holding
AG BD........................................... 1,470
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
GERMANY -- (CONTINUED)
72 SGL Carbon AG BDH................................. $ 1,520
31 Thielert AG B..................................... 1,011
--------
14,068
--------
GREECE -- 1.8%
299 Hellenic Technodomiki Tev S.A. D.................. 3,147
--------
HONG KONG -- 1.1%
578 Chinese Estates Holdings Ltd. D................... 751
2,016 Far East Pharmaceutical Technology Co.,
Ltd. BHD........................................ --
702 Shangri-La Asia Ltd. ............................. 1,245
--------
1,996
--------
INDIA -- 0.7%
38 Dr. Reddy's Laboratories Ltd. ADR................. 1,228
--------
ITALY -- 5.1%
549 AEM S.p.A. DH..................................... 1,196
108 Banca Popolare di Milano S.c.r.l. D............... 1,365
134 Brembo S.p.A. D................................... 1,373
219 Immobiliare Grande Distribuzione D................ 643
59 Indesit Co. S.p.A. DH............................. 778
204 Safilo S.p.A. B................................... 1,144
705 Sorin S.p.A. BD................................... 1,415
13 Tod's S.p.A. D.................................... 1,042
--------
8,956
--------
JAPAN -- 24.4%
181 77 Bank Ltd. D.................................... 1,422
34 Coca-Cola West Japan Co., Ltd. DH................. 845
27 Disco Corp. DH.................................... 1,703
52 FamilyMart Co., Ltd. D............................ 1,498
220 Fuji Fire & Marine Insurance Co., Ltd. DH......... 998
136 Gunma Bank Ltd. D................................. 1,045
15 Hakuhodo DY Holdings, Inc. DH..................... 1,440
43 Hamamatsu Photonics KK DH......................... 1,329
27 Hogy Medical Co., Ltd. D.......................... 1,434
9 Honeys Co., Ltd. DH............................... 504
28 Japan Petroleum Exploration Co., Ltd. D........... 2,052
2 Jupiter Telecommunications Co., Ltd. BD........... 1,352
52 Kobayashi Pharmaceutical Co., Ltd. DH............. 1,840
49 MEC Co., Ltd. DH.................................. 893
23 Milbon Co., Ltd. D................................ 1,004
137 Mochida Pharmaceutical Co., Ltd. DH............... 1,305
304 Morinaga & Co., Ltd. DH........................... 838
10 Neomax Co., Ltd. DQ............................... 286
-- Nomura Real Estate Office Fund, Inc. DH........... 683
25 OBIC Business Consultants Ltd. DH................. 1,406
8 OBIC Co., Ltd. DH................................. 1,738
6 Point, Inc. D..................................... 455
9 Ryohin Keikaku Co., Ltd. D........................ 832
105 Shionogi & Co., Ltd. DH........................... 1,772
82 Sumitomo Forestry Co., Ltd. DH.................... 834
708 Sumitomo Osaka Cement Co., Ltd. D................. 2,586
35 Taiyo Ink Manufacturing Co., Ltd. D............... 1,948
70 Tanabe Seiyaku Co., Ltd D......................... 824
</Table>
The accompanying notes are an integral part of these financial statements.
166
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
JAPAN -- (CONTINUED)
19 Tocalo Co., Ltd. D................................ $ 694
85 Toppan Forms Co., Ltd. D.......................... 1,375
265 Toyo Construction Co., Ltd. BDH................... 413
15 Uni-Charm Corp. DH................................ 871
32 Union Tool Co. D.................................. 2,074
78 Uny Co., Ltd. DH.................................. 1,398
15 USS Co., Ltd. D................................... 1,098
--------
42,789
--------
LIECHTENSTEIN -- 0.7%
5 Verwalt & Privat-Bank AG D........................ 1,142
--------
LUXEMBOURG -- 0.5%
30 Stolt-Nielsen S.A. DH............................. 844
--------
MALAYSIA -- 1.5%
421 Resorts World Berhad.............................. 1,558
739 YTL Corp. Berhad.................................. 1,040
--------
2,598
--------
NETHERLANDS -- 1.7%
59 Qiagen N.V. BDH................................... 870
7 SBM Offshore N.V. D............................... 706
54 Wolters Kluwer N.V. BDH........................... 1,417
--------
2,993
--------
PORTUGAL -- 0.6%
183 Mota -- Engil S.A. D.............................. 1,012
--------
SINGAPORE -- 0.4%
627 Goodpack Ltd. .................................... 754
--------
SOUTH KOREA -- 2.4%
12 GS Engineering & Construction Corp. D............. 870
37 GS Holdings Corp. D............................... 1,168
13 Hyundai Motor Co., Ltd. D......................... 1,154
31 KT Freetel Co., Ltd. D............................ 1,023
--------
4,215
--------
SPAIN -- 0.6%
284 Iberia Lineas Aer De Espana D..................... 796
10 Prosegur Compania de Seguridad S.A. D............. 263
--------
1,059
--------
SWEDEN -- 4.1%
56 Alfa Laval Ab BDH................................. 1,833
43 D. Carnegie & Co. Ab DH........................... 959
62 Munters Ab BD..................................... 2,372
84 Swedish Match Ab DH............................... 1,261
36 Trelleborg Ab DH.................................. 793
--------
7,218
--------
SWITZERLAND -- 6.5%
13 Bachem Holding AG Class B D....................... 863
17 Baloise Holding AG DH............................. 1,314
9 Charles Voegele Holding AG BD..................... 774
12 Ciba Specialty Chemicals AG DH.................... 737
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SWITZERLAND -- (CONTINUED)
13 Dufry Group B..................................... $ 1,136
42 EFG International B............................... 1,250
15 Ems-Chemie Holding AG D........................... 1,627
1 Geberit AG BDH.................................... 832
20 Logitech International S.A. BD.................... 821
2 Sulzer AG D....................................... 1,940
--------
11,294
--------
THAILAND -- 0.4%
2,375 Krung Thai Bank plc............................... 766
--------
UNITED KINGDOM -- 17.9%
15 Antofagasta D..................................... 649
262 Benfield Group plc D.............................. 1,858
87 Cambridge Antibody Technology Group plc BD........ 1,160
310 Cattles plc D..................................... 2,138
43 Close Brothers Group plc D........................ 847
96 EMAP plc D........................................ 1,537
221 EMI Group plc D................................... 1,141
145 F&C Asset Management plc D........................ 578
280 FirstGroup plc D.................................. 2,131
778 FKI plc D......................................... 1,647
422 GCAP Media plc D.................................. 1,958
95 ICAP plc D........................................ 900
140 Jardine Lloyd Thompson Group plc D................ 984
153 Kesa Electricals plc D............................ 874
138 Lancashire Holdings Ltd. B........................ 784
87 Luminar plc D..................................... 840
13 Mapeley Ltd. ..................................... 786
254 Misys plc D....................................... 963
115 Petrofac Ltd. D................................... 713
426 Rentokil Initial plc D............................ 1,235
51 Speedy Hire plc D................................. 864
290 SSL International plc D........................... 1,605
44 Travis Perkins plc D.............................. 1,266
56 Ultra Electronics Holdings plc D.................. 1,115
19 Willis Group Holdings Ltd. ....................... 675
96 Wolfson Microelectronics plc BD................... 826
270 Yule Catto & Co. plc D............................ 1,318
--------
31,392
--------
Total common stock
(cost $144,435)................................. $165,457
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 26.1%
REPURCHASE AGREEMENTS -- 3.7%
$ 1,118 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,118
740 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 740
1,133 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,133
</Table>
The accompanying notes are an integral part of these financial statements.
167
THE HARTFORD INTERNATIONAL SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- (CONTINUED)
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 456 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... $ 456
1,023 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,023
168 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 168
1,826 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,826
--------
6,464
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 22.4%
39,357 Navigator Prime Portfolio......................... 39,357
--------
Total short-term investments
(cost $45,821).................................. $ 45,821
--------
Total investments in securities
(cost $190,256) O............................... $211,278
========
</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 94.42% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value by,
or under the direction of, the Funds' Board of Directors at April 30, 2006,
was $150,529, which represents 85.90% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $190,411 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $22,828
Unrealized depreciation......................... (1,961)
-------
Net unrealized appreciation..................... $20,867
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $1,414, which represents 0.81% of total net assets.
Q The cost of securities purchased on a when-issued or delayed
delivery basis at April 30, 2006 was $113.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
DIVERSIFICATION BY INDUSTRY
As of April 30, 2006
<Table>
<Caption>
PERCENTAGE OF
INDUSTRY NET ASSETS
- ---------------------------------------------------------------
Basic Materials 11.0%
- ---------------------------------------------------------------
Capital Goods 8.2
- ---------------------------------------------------------------
Consumer Cyclical 16.6
- ---------------------------------------------------------------
Consumer Staples 3.6
- ---------------------------------------------------------------
Energy 3.2
- ---------------------------------------------------------------
Finance 18.1
- ---------------------------------------------------------------
Health Care 10.0
- ---------------------------------------------------------------
Services 10.2
- ---------------------------------------------------------------
Technology 9.1
- ---------------------------------------------------------------
Transportation 3.3
- ---------------------------------------------------------------
Utilities 1.1
- ---------------------------------------------------------------
Short-Term Investments 26.1
- ---------------------------------------------------------------
Other Assets & Liabilities (20.5)
- ---------------------------------------------------------------
TOTAL 100.0%
- ---------------------------------------------------------------
</Table>
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
British Sterling Pound Buy $3,897 $3,775 06/12/2006 $ 122
British Sterling Pound Sell 3,897 3,893 06/12/2006 (4)
Euro Buy 205 202 05/02/2006 3
Euro Buy 597 593 05/03/2006 4
Euro Buy 503 503 05/04/2006 --
Japanese Yen Sell 1,434 1,422 05/01/2006 (12)
Japanese Yen Sell 10 10 05/02/2006 --
Japanese Yen Sell 528 527 05/08/2006 (1)
New Zealand Dollar Buy 3,793 3,969 10/31/2006 (176)
New Zealand Dollar Sell 3,793 4,146 10/31/2006 353
South Africa Rand Sell 66 66 05/02/2006 --
South Africa Rand Sell 508 502 05/04/2006 (6)
-----
$ 283
=====
</Table>
The accompanying notes are an integral part of these financial statements.
168
THE HARTFORD MIDCAP FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 97.0%
BASIC MATERIALS -- 7.8%
457 Alliant Techsystems, Inc. BH...................... $ 36,515
1,050 Cameco Corp. ..................................... 42,674
380 Inco Ltd. ........................................ 21,459
633 Peabody Energy Corp. ............................. 40,411
423 Phelps Dodge Corp. ............................... 36,476
2,632 Rinker Group Ltd. D............................... 42,500
513 Rohm & Haas Co. .................................. 25,980
----------
246,015
----------
CAPITAL GOODS -- 1.2%
869 American Standard Cos., Inc. ..................... 37,828
----------
CONSUMER CYCLICAL -- 16.7%
476 Abercrombie & Fitch Co. Class A................... 28,883
523 American Eagle Outfitters, Inc. .................. 16,929
475 BorgWarner, Inc. ................................. 28,822
70 Chico's FAS, Inc. B............................... 2,598
644 Coach, Inc. B..................................... 21,278
213 Copart, Inc. BH................................... 5,714
886 D.R. Horton, Inc. ................................ 26,590
571 Fastenal Co. ..................................... 26,733
626 Foster Wheeler Ltd. BH............................ 27,908
1,725 Geox S.p.A. D..................................... 24,593
434 Gildan Activewear, Inc. BH........................ 20,725
620 Michaels Stores, Inc. ............................ 23,451
298 Mohawk Industries, Inc. BH........................ 23,894
1,334 Newell Rubbermaid, Inc. .......................... 36,567
541 Oshkosh Truck Corp. .............................. 33,128
424 PACCAR, Inc. ..................................... 30,505
1,093 PetsMart, Inc. ................................... 30,230
256 Saks, Inc. B...................................... 5,146
369 Scotts Miracle-Gro Co. Class A H.................. 16,332
1,224 Supervalu, Inc. .................................. 35,520
675 Tiffany & Co. .................................... 23,547
314 Walter Industries................................. 20,854
503 Williams-Sonoma, Inc. H........................... 21,056
----------
531,003
----------
ENERGY -- 6.8%
1,226 Chesapeake Energy Corp. .......................... 38,824
345 CNX Gas Corp. B................................... 9,838
360 EOG Resources, Inc. .............................. 25,267
754 GlobalSantaFe Corp. .............................. 46,134
499 Noble Corp. ...................................... 39,352
539 Southwestern Energy Co. BH........................ 19,411
448 Sunoco, Inc. ..................................... 36,330
----------
215,156
----------
FINANCE -- 15.4%
359 AMBAC Financial Group, Inc. ...................... 29,551
1,165 AmeriCredit Corp. BH.............................. 35,282
717 Assurant, Inc. ................................... 34,514
262 Blackrock, Inc. Class A........................... 39,703
161 City National Corp. .............................. 11,776
1,031 Conseco, Inc. BH.................................. 26,033
1,164 E*Trade Financial Corp. B......................... 28,960
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
246 Eaton Vance Corp. ................................ $ 7,015
206 Everest Re Group Ltd. ............................ 18,746
366 General Growth Properties, Inc. .................. 17,170
310 Golden West Financial Corp. ...................... 22,244
8 Hong Kong Exchanges & Clearing Ltd. D............. 57
1,906 Host Hotels & Resorts, Inc. ...................... 40,061
203 Legg Mason, Inc. ................................. 24,107
644 State Street Corp. ............................... 42,059
403 T. Rowe Price Group, Inc. ........................ 33,912
1,541 TD Ameritrade Holding Corp. ...................... 28,599
764 Ventas, Inc. ..................................... 24,963
488 Webster Financial Group........................... 22,907
----------
487,659
----------
HEALTH CARE -- 9.5%
534 Amylin Pharmaceuticals, Inc. BH................... 23,264
395 Cephalon, Inc. BH................................. 25,918
552 Coventry Health Care, Inc. B...................... 27,408
341 Edwards Lifesciences Corp. BH..................... 15,141
472 Eisai Co., Ltd. DH................................ 21,531
389 ICOS Corp. BH..................................... 8,537
970 Lincare Holdings, Inc. BH......................... 38,344
1,138 Manor Care, Inc. ................................. 49,897
2,467 Millennium Pharmaceuticals, Inc. BH............... 22,401
959 Mylan Laboratories, Inc. ......................... 20,947
1,437 Shionogi & Co., Ltd. DHQ.......................... 24,230
694 Vertex Pharmaceuticals, Inc. BH................... 25,226
----------
302,844
----------
SERVICES -- 20.3%
439 Alliance Data Systems Corp. BH.................... 24,140
755 Autodesk, Inc. BH................................. 31,757
1,998 BISYS Group, Inc. BH.............................. 31,853
553 C.H. Robinson Worldwide, Inc. .................... 24,526
1,267 Cadence Design Systems, Inc. BH................... 23,986
259 Career Education Corp. BH......................... 9,538
572 Cognizant Technology Solutions Corp. BH........... 36,404
199 Corporate Executive Board Co. .................... 21,276
975 EchoStar Communications Corp. Class A B........... 30,112
825 Education Management Corp. B...................... 35,042
1,255 Equifax, Inc. .................................... 48,360
350 Fluor Corp. ...................................... 32,500
479 Harrah's Entertainment, Inc. ..................... 39,114
690 Manpower, Inc. ................................... 44,947
305 Monster Worldwide, Inc. BH........................ 17,518
756 Pixar Animation Studios BH........................ 48,597
700 Robert Half International, Inc. .................. 29,585
410 Scripps (E.W.) Co. Class A........................ 18,873
6,294 Sirius Satellite Radio, Inc. BH................... 29,455
515 Starwood Hotels & Resorts......................... 29,539
1,037 Univision Communications, Inc. Class A BH......... 37,011
----------
644,133
----------
TECHNOLOGY -- 16.5%
1,930 Activision, Inc. BH............................... 27,385
130 ADTRAN, Inc. ..................................... 3,256
2,246 Altera Corp. B.................................... 49,055
</Table>
The accompanying notes are an integral part of these financial statements.
169
THE HARTFORD MIDCAP FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
1,541 American Tower Corp. Class A BH................... $ 52,597
726 Applera Corp. -- Applied Biosystems Group......... 20,941
759 Cognos, Inc. BH................................... 28,269
509 DaVita, Inc. B.................................... 28,608
333 Fairchild Semiconductor International, Inc. B..... 6,885
435 Fidelity National Information..................... 16,530
1,211 Jabil Circuit, Inc. B............................. 47,229
754 Linear Technology Corp. .......................... 26,760
544 Mercury Interactive Corp. BH...................... 19,573
1,140 Network Appliance, Inc. BH........................ 42,249
831 NVIDIA Corp. B.................................... 24,279
1,014 Red Hat, Inc. BH.................................. 29,804
889 Rockwell Collins, Inc. ........................... 50,828
619 Roper Industries, Inc. ........................... 29,382
293 SanDisk Corp. BH.................................. 18,721
----------
522,351
----------
TRANSPORTATION -- 1.9%
600 AMR Corp. B....................................... 14,794
280 Expeditors International of Washington, Inc. ..... 23,936
681 UTI Worldwide, Inc. .............................. 21,228
----------
59,958
----------
UTILITIES -- 0.9%
1,238 Northeast Utilities............................... 24,950
99 Suntech Power Holdings ADR BH..................... 3,377
----------
28,327
----------
Total common stock
(cost $2,464,952)............................... $3,075,274
----------
PREFERRED STOCKS -- 0.8%
UTILITIES -- 0.8%
516 NRG Energy, Inc. BH............................... $ 24,561
----------
Total preferred stocks
(cost $23,137).................................. $ 24,561
----------
Total long term investments
(cost $2,488,089)............................... $3,099,835
----------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 12.5%
REPURCHASE AGREEMENTS -- 1.8%
$ 9,634 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 9,634
6,378 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 6,378
9,770 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 9,770
3,935 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 3,935
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- ----------
REPURCHASE AGREEMENTS -- (CONTINUED)
$ 8,820 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... $ 8,820
1,446 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 1,446
15,741 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 15,741
----------
55,724
----------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 10.7%
341,315 Navigator Prime Portfolio......................... 341,315
----------
Total short-term investments
(cost $397,039)................................. $ 397,039
----------
Total investments in securities
(cost $2,885,128) O............................. $3,496,874
==========
</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 8.78% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $112,911, which represents 3.56% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $2,887,919 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $649,458
Unrealized depreciation........................ (40,503)
--------
Net unrealized appreciation.................... $608,955
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
Q The cost of securities purchased on a when-issued or delayed
delivery basis at April 30, 2006, was $118.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
----------- ----------- ------ -------- -------- --------------
Japanese Yen Buy $290 $290 05/02/2006 --
Japanese Yen Buy 118 118 05/08/2006 --
--
$--
==
</Table>
The accompanying notes are an integral part of these financial statements.
170
THE HARTFORD MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.7%
BASIC MATERIALS -- 13.0%
83 Albemarle Corp. .................................. $ 3,960
71 Alliant Techsystems, Inc. B....................... 5,703
41 Arch Coal, Inc. .................................. 3,885
50 Carlisle Cos., Inc. .............................. 4,250
209 Chemtura Corp. ................................... 2,550
143 Cytec Industries, Inc. ........................... 8,653
122 Engelhard Corp. .................................. 4,678
118 Huntsman Corp. B.................................. 2,315
135 Inco Ltd. ........................................ 7,635
47 Michelin (C.G.D.E.) Class B D..................... 3,409
400 Pactiv Corp. B.................................... 9,724
93 Smurfit-Stone Container Corp. B................... 1,207
101 Temple-Inland, Inc. .............................. 4,667
--------
62,636
--------
CAPITAL GOODS -- 10.2%
112 American Standard Cos., Inc. ..................... 4,871
40 Black & Decker Corp. ............................. 3,782
253 Goodrich Corp. ................................... 11,277
107 Kennametal, Inc. ................................. 6,599
62 Lam Research Corp. B.............................. 3,006
94 Parker-Hannifin Corp. ............................ 7,651
59 Terex Corp. B..................................... 5,115
207 Varian Semiconductor Equipment Associates,
Inc. BH......................................... 6,791
--------
49,092
--------
CONSUMER CYCLICAL -- 12.1%
190 American Axle & Manufacturing Holdings, Inc. H.... 3,340
221 Arris Group, Inc. B............................... 2,613
77 BorgWarner, Inc. ................................. 4,676
163 CBRL Group, Inc. ................................. 6,628
375 Foot Locker, Inc. ................................ 8,697
175 Newell Rubbermaid, Inc. .......................... 4,804
82 Office Depot, Inc. B.............................. 3,332
207 Ruby Tuesday, Inc. H.............................. 6,147
94 TRW Automotive Holdings Corp. B................... 2,083
117 United Stationers, Inc. B......................... 6,293
46 V.F. Corp. ....................................... 2,833
97 Walter Industries H............................... 6,454
--------
57,900
--------
CONSUMER STAPLES -- 3.3%
116 Bunge Ltd. H...................................... 6,199
58 Ralcorp Holdings, Inc. B.......................... 2,162
180 Smithfield Foods, Inc. B.......................... 4,845
195 Tyson Foods, Inc. Class A......................... 2,847
--------
16,053
--------
ENERGY -- 3.2%
128 Newfield Exploration Co. B........................ 5,718
138 Noble Energy, Inc. ............................... 6,212
155 UGI Corp. ........................................ 3,467
--------
15,397
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- 16.8%
55 Affiliated Managers Group, Inc. BH................ $ 5,612
148 AMBAC Financial Group, Inc. ...................... 12,165
408 Apollo Investment Corp. .......................... 7,630
163 CIT Group, Inc. .................................. 8,804
28 City National Corp. .............................. 2,006
61 Everest Re Group Ltd. ............................ 5,515
339 Grupo Imsa S.A. De C.V. .......................... 1,144
225 Huntington Bancshares, Inc. ...................... 5,443
221 KKR Financial Corp. .............................. 4,767
150 Platinum Underwriters Holdings Ltd. .............. 4,138
66 Radian Group, Inc. ............................... 4,121
146 Reinsurance Group of America, Inc. ............... 7,026
44 UnionBanCal Corp. ................................ 3,091
163 UnumProvident Corp. .............................. 3,300
124 Webster Financial Corp. .......................... 5,808
--------
80,570
--------
HEALTH CARE -- 7.5%
85 Barr Pharmaceuticals, Inc. B...................... 5,159
51 Bausch & Lomb, Inc. .............................. 2,477
111 Cooper Companies, Inc. ........................... 6,090
371 Endo Pharmaceuticals Holdings, Inc. B............. 11,665
456 Impax Laboratories, Inc. BH....................... 4,214
221 Theravance, Inc. B................................ 6,196
--------
35,801
--------
SERVICES -- 7.9%
392 BearingPoint, Inc. B.............................. 3,634
192 Donnelley (R.R.) & Sons Co. ...................... 6,482
155 Entercom Communications Corp. .................... 4,103
224 IMS Health, Inc. ................................. 6,088
173 R.H. Donnelley Corp. BH........................... 9,704
501 Unisys Corp. B.................................... 3,124
113 URS Corp. B....................................... 4,867
--------
38,002
--------
TECHNOLOGY -- 18.0%
137 Acuity Brands, Inc. .............................. 5,643
322 Arrow Electronics, Inc. B......................... 11,645
509 Cinram International, Inc. ....................... 13,245
134 Citizens Communications Co. ...................... 1,785
395 Fairchild Semiconductor International, Inc. B..... 8,173
466 Flextronics International Ltd. B.................. 5,297
601 GrafTech International Ltd. B..................... 4,065
138 MEMC Electronic Materials, Inc. B................. 5,615
138 NCR Corp. B....................................... 5,437
219 Powerwave Technologies, Inc. B.................... 2,440
108 QLogic Corp. B.................................... 2,254
216 Reynolds & Reynolds Co. Class A................... 6,409
40 Seagate Technology................................ 1,065
67 Syniverse Holdings, Inc. B........................ 1,178
192 Tektronix, Inc. .................................. 6,764
335 Vishay Intertechnology, Inc. B.................... 5,215
--------
86,230
--------
</Table>
The accompanying notes are an integral part of these financial statements.
171
THE HARTFORD MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- 2.6%
77 Continental Airlines, Inc. BH..................... $ 2,016
91 Trinity Industries, Inc. ......................... 5,791
117 Yellow Roadway Corp. B............................ 4,910
--------
12,717
--------
UTILITIES -- 4.1%
160 Northeast Utilities............................... 3,228
333 PPL Corp. ........................................ 9,679
14 SBM Offshore N.V. D............................... 1,449
138 Wisconsin Energy Corp. ........................... 5,377
--------
19,733
--------
Total common stock
(cost $392,279)................................. $474,131
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 7.5%
REPURCHASE AGREEMENTS -- 1.9%
$ 1,579 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,579
1,045 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 1,045
1,602 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,602
645 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 645
1,446 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 1,446
237 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 237
2,580 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 2,580
--------
9,134
--------
<Caption>
MARKET
SHARES VALUE
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 5.6%
27,060 BNY Institutional Cash Reserve Fund............... $ 27,060
--------
Total short-term investments
(cost $36,194).................................. $ 36,194
--------
Total investments in securities
(cost $428,473) O............................... $510,325
========
</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 5.60% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value by,
or under the direction of, the Funds' Board of Directors at April 30, 2006,
was $4,858, which represents 1.01% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $428,785 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 93,230
Unrealized depreciation........................ (11,690)
--------
Net unrealized appreciation.................... $ 81,540
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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.
172
THE HARTFORD MONEY MARKET FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CONSUMER STAPLES -- 2.9%
$3,500 Stadshypotek Ab
4.67%, 05/08/2006............................... $ 3,497
3,500 Stadshypotek Ab
4.80%, 05/16/2006............................... 3,493
--------
Total Consumer Staples............................ $ 6,990
--------
FINANCE -- 96.6%
3,500 Ab Spintab
4.67%, 05/09/2006............................... 3,496
3,500 Ab Spintab
5.08%, 07/27/2006............................... 3,458
3,500 Alliance & Leicester Commercial Bank plc
4.70%, 05/22/2006............................... 3,490
3,500 Alliance & Leicester Commercial Bank plc
4.97%, 07/07/2006............................... 3,468
3,500 American Express Credit Corp.
4.99%, 12/15/2006 K............................. 3,503
3,500 American Express Credit Corp.
5.07%, 05/16/2006 K............................. 3,500
3,500 American General Finance Corp.
4.86%, 05/25/2006............................... 3,489
3,500 American General Finance Corp.
4.94%, 06/16/2006............................... 3,478
7,000 American Honda Finance Corp.
4.92%, 08/15/2006 MK............................ 7,004
3,500 Amsterdam Funding Corp.
4.91%, 06/01/2006............................... 3,485
3,500 Amsterdam Funding Corp.
4.91%, 06/12/2006............................... 3,480
3,500 ANZ Delaware
4.87%, 06/23/2006............................... 3,475
3,500 ANZ Delaware
4.98%, 06/27/2006............................... 3,473
3,500 Bank of America Corp.
4.66%, 05/02/2006............................... 3,500
3,300 Bank of America Corp.
4.66%, 05/01/2006............................... 3,300
3,500 Bank One Corp.
4.86%, 08/11/2006 K............................. 3,501
3,500 Barton Capital Corp.
4.66%, 05/03/2006............................... 3,499
2,500 Barton Capital Corp
4.92%, 06/06/2006............................... 2,488
3,500 Bear Stearns & Co., Inc.
4.68%, 05/10/2006............................... 3,496
3,300 Bear Stearns & Co., Inc.
4.78%, 10/02/2006 K............................. 3,312
3,900 Bear Stearns & Co., Inc.
5.18%, 06/19/2006 K............................. 3,901
3,300 Britannia Building Society
4.68%, 05/02/2006............................... 3,300
3,500 Britannia Building Society
4.73%, 05/15/2006............................... 3,494
3,500 Cafco LLC
4.77%, 05/19/2006............................... 3,492
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$3,500 Cafco LLC
4.90%, 06/14/2006............................... $ 3,479
2,000 Citibank NA
4.70%, 05/15/2006............................... 2,000
3,500 Citigroup, Inc.
4.89%, 05/19/2006 K............................. 3,500
3,500 Citigroup, Inc.
5.75%, 05/10/2006............................... 3,501
3,300 Countrywide Financial Corp.
4.81%, 05/05/2006............................... 3,298
3,300 Countrywide Financial Corp.
4.87%, 05/26/2006............................... 3,289
3,500 General Electric Capital Corp.
4.79%, 06/08/2006............................... 3,482
3,500 General Electric Capital Corp.
4.95%, 06/20/2006............................... 3,476
7,000 Goldman Sachs Group, Inc.
4.86%, 08/01/2006 K............................. 7,001
3,300 HBOS Treasury Services plc
4.77%, 06/05/2006............................... 3,285
3,500 HBOS Treasury Services plc
4.84%, 06/16/2006............................... 3,478
3,500 HSBC Finance Corp.
4.67%, 05/08/2006............................... 3,497
3,500 HSBC Finance Corp.
4.83%, 03/06/2007 K............................. 3,500
7,000 Lehman Brothers Holdings, Inc.
4.98%, 06/02/2006 K............................. 7,001
7,000 Merrill Lynch & Co.
5.13%, 10/19/2006 K............................. 7,003
3,500 Morgan Stanley Dean Witter, Inc.
5.04%, 01/19/2007 K............................. 3,502
3,500 Nationwide Building Society
4.93%, 06/12/2006............................... 3,480
3,500 Nationwide Building Society
5.01%, 06/30/2006............................... 3,471
3,500 Nordea North America
4.67%, 05/09/2006............................... 3,496
3,300 Nordea North America
4.83%, 05/09/2007 MK............................ 3,300
3,500 Northern Rock plc
4.76%, 05/15/2006............................... 3,494
3,500 Northern Rock plc
4.83%, 06/06/2006............................... 3,483
2,900 Old Line Funding
4.87%, 06/01/2006............................... 2,888
3,500 Old Line Funding
4.88%, 06/07/2006............................... 3,483
3,500 Preferred Funding Corp.
4.77%, 05/01/2006 M............................. 3,500
3,500 Preferred Funding Corp.
4.81%, 05/18/2006 M............................. 3,492
3,500 Sheffield Receivables
4.89%, 05/18/2006............................... 3,492
3,400 Skandinaviska Enskilda Bank NY
4.84%, 02/09/2007 MK............................ 3,400
</Table>
The accompanying notes are an integral part of these financial statements.
173
THE HARTFORD MONEY MARKET FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$3,300 SLM Corp.
4.86%, 05/04/2007 MK............................ $ 3,300
2,760 SLM Corp.
5.21%, 01/25/2007 K............................. 2,763
2,370 Triple A-1 Funding
4.77%, 05/03/2006............................... 2,369
2,700 Triple A-1 Funding
4.80%, 05/17/2006............................... 2,694
1,920 Triple A-1 Funding
4.88%, 05/22/2006............................... 1,915
3,500 UBS Finance LLC
4.91%, 06/09/2006............................... 3,481
3,500 Washington Mutual Bank NA
4.74%, 05/10/2006............................... 3,500
3,500 Washington Mutual Bank FA
4.98%, 07/26/2006 K............................. 3,500
3,025 Wells Fargo
4.78%, 05/01/2006............................... 3,025
3,500 Westpac Banking Corp.
4.72%, 05/22/2006 M............................. 3,490
3,400 Westpac Banking Corp.
4.87%, 02/16/2007 MK............................ 3,400
3,500 Yorktown Capital
4.85%, 06/19/2006............................... 3,478
3,500 Yorktown Capital
4.87%, 05/22/2006............................... 3,490
--------
Total Finance..................................... $231,758
--------
Total investments in securities
(cost $238,748) O............................... $238,748
========
</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 2.79% of total net assets at April 30, 2006.
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 qualified institutional buyers.
Pursuant to guidelines adopted by the Board of Directors, these issues are
determined to be liquid. The aggregate value of these securities at April
30, 2006, was $30,886, which represents 12.87% of total net assets.
K Variable rate securities; the yield reported is the rate in effect at
April 30, 2006.
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.
174
THE HARTFORD RETIREMENT INCOME FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 91.0%
EQUITY FUNDS -- 27.2%
1 Hartford Capital Appreciation Fund, Class Y....... $ 32
4 Hartford Disciplined Equity Fund, Class Y......... 51
1 Hartford Growth Fund, Class Y B................... 13
1 Hartford International Capital Appreciation Fund,
Class Y......................................... 13
2 Hartford International Opportunities Fund, Class
Y............................................... 32
1 Hartford MidCap Value Fund, Class Y............... 12
1 Hartford Select MidCap Growth Fund, Class Y....... 12
1 Hartford Value Fund, Class Y...................... 12
1 Hartford Value Opportunities Fund, Class Y........ 13
----
Total equity funds
(cost $184)..................................... $190
----
FIXED INCOME FUNDS -- 61.9%
5 Hartford Floating Rate Fund, Class Y.............. $ 51
4 Hartford High Yield Fund, Class Y................. 32
9 Hartford Inflation Plus Fund, Class Y............. 96
12 Hartford Short Duration Fund, Class Y............. 121
13 Hartford Total Return Bond Fund, Class Y.......... 133
----
Total fixed income funds
(cost $435)..................................... $433
----
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
MONEY MARKET FUND -- 1.9%
13 Hartford Money Market Fund, Class Y............... $ 13
----
Total money market fund
(cost $13)...................................... $ 13
----
Total investments in affiliated investment
companies
(cost $634) O................................... $636
====
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes is $634 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
<Table>
Unrealized appreciation............................. $ 6
Unrealized depreciation............................. (4)
---
Net unrealized appreciation......................... $ 2
===
</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.
175
THE HARTFORD SELECT MIDCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 95.0%
BASIC MATERIALS -- 4.8%
7 Airgas, Inc. ..................................... $ 264
5 Alliant Techsystems, Inc. B....................... 366
6 Cameco Corp. ..................................... 239
11 Church & Dwight Co., Inc. ........................ 400
2 Florida Rock Industries........................... 104
12 Fortune Brands, Inc. ............................. 1,000
8 Pentair, Inc. .................................... 289
5 Precision Castparts Corp. ........................ 317
-------
2,979
-------
CAPITAL GOODS -- 6.7%
8 American Standard Cos., Inc. ..................... 337
12 Cooper Cameron Corp. B............................ 604
8 Dresser-Rand Group, Inc. B........................ 191
9 Grant Prideco, Inc. B............................. 467
4 Lam Research Corp. B.............................. 191
3 National Oilwell Varco, Inc. B.................... 203
13 Rockwell Automation, Inc. ........................ 960
9 Smith International, Inc. ........................ 381
9 Tessera Technologies, Inc. B...................... 279
14 Varian Semiconductor Equipment Associates,
Inc. B.......................................... 453
-------
4,066
-------
CONSUMER CYCLICAL -- 10.7%
5 Abercrombie & Fitch Co. Class A................... 295
11 Aramark Corp. Class B............................. 322
15 Avnet, Inc. B..................................... 387
7 Bed Bath & Beyond, Inc. B......................... 259
5 Carter's, Inc. B.................................. 333
7 CDW Corp. ........................................ 408
7 Chico's FAS, Inc. B............................... 265
9 Coach, Inc. B..................................... 288
6 Coldwater Creek, Inc. B........................... 174
5 Fastenal Co. ..................................... 255
5 Grainger (W.W.), Inc. ............................ 387
5 Men's Wearhouse, Inc. ............................ 189
5 MSC Industrial Direct Co., Inc. .................. 241
5 P. F. Chang's China Bistro, Inc. B................ 206
6 PetsMart, Inc. ................................... 153
6 Polo Ralph Lauren Corp. .......................... 359
8 Pulte Homes, Inc. ................................ 308
5 Tiffany & Co. .................................... 164
20 TJX Cos., Inc. ................................... 484
3 Tractor Supply B.................................. 175
19 Urban Outfitters, Inc. B.......................... 450
9 Williams-Sonoma, Inc. ............................ 388
-------
6,490
-------
CONSUMER STAPLES -- 0.8%
5 Alberto-Culver Co. ............................... 241
5 Hershey Co. ...................................... 246
-------
487
-------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
ENERGY -- 6.1%
11 BJ Services Co. .................................. $ 412
6 Chesapeake Energy Corp. .......................... 185
10 Complete Production Services, Inc. B.............. 264
5 ENSCO International, Inc. ........................ 268
7 Forest Oil Corp. B................................ 250
1 Hugoton Royalty Trust............................. 16
3 Newfield Exploration Co. B........................ 136
4 Quicksilver Resources, Inc. B..................... 177
16 Range Resources Corp. ............................ 435
5 Rowan Companies, Inc. ............................ 234
12 Superior Energy Services, Inc. B.................. 402
9 Weatherford International Ltd. B.................. 489
10 XTO Energy, Inc. ................................. 422
-------
3,690
-------
FINANCE -- 8.4%
6 Affiliated Managers Group, Inc. B................. 563
11 AmeriCredit Corp. B............................... 327
13 Apsen Insurance Holdings Ltd. .................... 327
5 Arch Capital Group Ltd. B......................... 324
3 CB Richard Ellis Group, Inc. Class A B............ 297
8 Commerce Bancorp, Inc. ........................... 316
8 Comverse Technology, Inc. B....................... 191
15 E*Trade Financial Corp. B......................... 381
13 Global Cash Access, Inc. B........................ 262
11 Host Hotels & Resorts, Inc. ...................... 222
26 Hudson City Bancorp, Inc. ........................ 345
6 Nasdaq Stock Market, Inc. B....................... 238
5 Northern Trust Corp. ............................. 312
3 T. Rowe Price Group, Inc. ........................ 246
5 TCF Financial Corp. .............................. 129
18 Willis Group Holdings Ltd. ....................... 620
-------
5,100
-------
HEALTH CARE -- 13.1%
6 Advanced Medical Optics, Inc. B................... 290
2 Allergan, Inc. ................................... 176
5 Bard (C.R.), Inc. ................................ 383
4 Barr Pharmaceuticals, Inc. B...................... 262
11 Biomet, Inc. ..................................... 403
5 Celgene Corp. B................................... 229
2 Cephalon, Inc. B.................................. 98
8 Charles River Laboratories International, Inc. B.. 365
10 Community Health Systems, Inc. B.................. 362
1 Cooper Companies, Inc. ........................... 34
11 Covance, Inc. B................................... 642
13 Endo Pharmaceuticals Holdings, Inc. B............. 403
10 Gen-Probe, Inc. B................................. 531
14 Henry Schein, Inc. B.............................. 669
10 Kinetic Concepts, Inc. B.......................... 428
8 Laboratory Corp. of America Holdings B............ 460
24 MedImmune, Inc. B................................. 762
5 Omnicare, Inc. ................................... 269
8 OSI Pharmaceuticals, Inc. B....................... 205
5 Respironics, Inc. B............................... 175
6 St. Jude Medical, Inc. B.......................... 228
</Table>
The accompanying notes are an integral part of these financial statements.
176
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
20 Valeant Pharmaceuticals International............. $ 359
4 Varian Medical Systems, Inc. B.................... 193
-------
7,926
-------
SERVICES -- 14.8%
14 Alliance Data Systems Corp. B..................... 766
26 Allied Waste Industries, Inc. B................... 374
14 Autodesk, Inc. B.................................. 585
4 CheckFree Corp. B................................. 219
8 Cintas Corp. ..................................... 316
11 Cogent, Inc. B.................................... 174
9 Cognizant Technology Solutions Corp. B............ 588
3 Corporate Executive Board Co. .................... 321
5 Factset Research Systems, Inc. ................... 229
7 Gaylord Entertainment Co. B....................... 302
1 Getty Images, Inc. B.............................. 61
6 Harrah's Entertainment, Inc. ..................... 479
4 Harsco Corp. ..................................... 329
13 Hilton Hotels Corp. .............................. 360
8 Iron Mountain, Inc. B............................. 297
14 Lamar Advertising Co. B........................... 755
20 Liberty Global, Inc. B............................ 413
1 Marriott International, Inc. Class A.............. 69
9 MoneyGram International, Inc. .................... 315
9 Paychex, Inc. .................................... 366
7 Penn National Gaming, Inc. B...................... 300
4 Robert Half International, Inc. .................. 172
11 Univision Communications, Inc. Class A B.......... 406
6 VCA Antech, Inc. B................................ 173
4 Weight Watchers International, Inc. .............. 180
22 XM Satellite Radio Holdings, Inc. Class A B....... 452
-------
9,001
-------
TECHNOLOGY -- 26.7%
24 Activision, Inc. B................................ 336
4 Advanced Micro Devices, Inc. B.................... 118
15 Akamai Technologies, Inc. B....................... 517
10 American Tower Corp. Class A B.................... 326
5 AMETEK, Inc. ..................................... 262
12 Amphenol Corp. Class A............................ 691
16 Analog Devices, Inc. ............................. 621
11 ATI Technologies, Inc. ADR B...................... 172
4 Avocent Corp. B................................... 121
9 Broadcom Corp. Class A B.......................... 364
12 Ceridian Corp. B.................................. 300
17 ChoicePoint, Inc. B............................... 743
7 Citrix Systems, Inc. B............................ 269
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
TECHNOLOGY -- (CONTINUED)
20 CNET Networks, Inc. B............................. $ 211
8 Cognos, Inc. B.................................... 303
10 Crown Castle International Corp. B................ 345
7 DaVita, Inc. B.................................... 366
7 Dolby Laboratories, Inc. Class A B................ 176
3 Dun & Bradstreet Corp. B.......................... 245
31 Entravision Communications Corp. Class A B........ 256
9 Fidelity National Information..................... 333
9 Fiserv, Inc. B.................................... 383
6 Fisher Scientific International, Inc. B........... 388
8 FLIR Systems, Inc. B.............................. 204
8 FormFactor, Inc. B................................ 336
13 Freescale Semiconductor, Inc. Class A B........... 400
7 Harman International Industries, Inc. ............ 641
6 IAC/Interactive Corp. B........................... 184
6 Intersil Corp. ................................... 171
14 Jabil Circuit, Inc. B............................. 561
17 Juniper Networks, Inc. B.......................... 308
2 L-3 Communications Holdings, Inc. ................ 182
12 Linear Technology Corp. .......................... 421
7 Marvell Technology Group Ltd. B................... 427
4 Maxim Integrated Products, Inc. .................. 144
12 MEMC Electronic Materials, Inc. B................. 470
8 Microchip Technology, Inc. ....................... 280
7 National Semiconductor Corp. ..................... 220
6 NAVTEQ Corp. B.................................... 242
11 Network Appliance, Inc. B......................... 405
9 Neustar, Inc. B................................... 305
7 Nextel Partners, Inc. Class A B................... 201
7 NII Holdings, Inc. Class B B...................... 445
13 Polycom, Inc. B................................... 292
12 Red Hat, Inc. B................................... 347
4 Research In Motion Ltd. B......................... 303
5 Roper Industries, Inc. ........................... 223
2 Salesforce.com, Inc. B............................ 70
7 SRA International, Inc. B......................... 216
7 Xilinx, Inc. ..................................... 193
4 Zebra Technologies Corp. Class A B................ 156
-------
16,193
-------
TRANSPORTATION -- 2.8%
18 Gentex Corp. ..................................... 269
9 McDermott International, Inc. B................... 517
8 Royal Caribbean Cruises Ltd. ..................... 341
16 Southwest Airlines Co. ........................... 256
11 UTI Worldwide, Inc. .............................. 330
-------
1,713
-------
</Table>
The accompanying notes are an integral part of these financial statements.
177
THE HARTFORD SELECT MIDCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
UTILITIES -- 0.1%
2 Suntech Power Holdings ADR B...................... $ 57
-------
Total common stock
(cost $53,731).................................. $57,702
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 4.4%
FINANCE -- 4.4%
$2,671 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 2,671
-------
Total short-term investments
(cost $2,671)................................... $ 2,671
-------
Total investments in securities
(cost $56,402) O................................ $60,373
=======
</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 4.57% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $56,515 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $4,857
Unrealized depreciation.......................... (999)
------
Net unrealized appreciation...................... $3,858
======
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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.
178
THE HARTFORD SELECT MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 94.3%
BASIC MATERIALS -- 6.1%
4 Albemarle Corp. .................................. $ 196
8 Ball Corp. ....................................... 304
4 Carlisle Cos., Inc. .............................. 338
10 Crane Co. ........................................ 429
4 Fortune Brands, Inc. ............................. 337
9 Lubrizol Corp. ................................... 375
4 Praxair, Inc. .................................... 247
5 Precision Castparts Corp. ........................ 283
6 Syngenta AG ADR................................... 153
13 Valspar Corp. .................................... 368
-------
3,030
-------
CAPITAL GOODS -- 5.0%
9 American Standard Cos., Inc. ..................... 396
12 Goodrich Corp. ................................... 516
12 Hasbro, Inc. ..................................... 240
4 Ingersoll-Rand Co. Class A........................ 162
3 ITT Industries, Inc. ............................. 163
18 Marvel Entertainment, Inc. B...................... 343
5 SPX Corp. ........................................ 252
4 Textron, Inc. .................................... 396
-------
2,468
-------
CONSUMER CYCLICAL -- 13.5%
3 AutoZone, Inc. B.................................. 281
29 Avnet, Inc. B..................................... 756
18 Big Lots, Inc. B.................................. 257
3 Brinker International, Inc. ...................... 106
4 Claires Stores, Inc. ............................. 151
12 Dollar Tree Stores, Inc. B........................ 300
3 Federated Department Stores, Inc. ................ 249
16 Foot Locker, Inc. ................................ 364
12 Furniture Brands International, Inc. ............. 269
15 Ingram Micro, Inc. B.............................. 283
11 Kohl's Corp. B.................................... 600
4 Lear Corp. ....................................... 101
38 Leggett & Platt, Inc. ............................ 1,012
9 Liz Claiborne, Inc. .............................. 359
4 Mohawk Industries, Inc. B......................... 296
4 Sherwin-Williams Co. ............................. 194
11 SYSCO Corp. ...................................... 317
7 Yum! Brands, Inc. ................................ 357
15 Zale Corp. B...................................... 362
-------
6,614
-------
CONSUMER STAPLES -- 2.6%
2 Archer Daniels Midland Co. ....................... 84
13 Delta and Pine Land Co. .......................... 379
6 McCormick & Co., Inc. ............................ 199
14 Pilgrim's Pride Corp. ............................ 355
19 Tyson Foods, Inc. Class A......................... 271
-------
1,288
-------
ENERGY -- 6.5%
6 AGL Resources, Inc. .............................. 226
5 Apache Corp. ..................................... 348
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
ENERGY -- (CONTINUED)
7 Cimarex Energy Co. ............................... $ 288
12 Forest Oil Corp. B................................ 421
-- Hugoton Royalty Trust............................. 8
5 Mariner Energy, Inc. B............................ 91
8 Noble Energy, Inc. ............................... 369
7 ONEOK, Inc. ...................................... 241
11 Pioneer Natural Resources Co. .................... 471
5 Pogo Producing Co. ............................... 268
11 Williams Cos., Inc. .............................. 246
5 XTO Energy, Inc. ................................. 216
-------
3,193
-------
FINANCE -- 25.8%
2 Alleghany Corp. B................................. 495
4 AMVESCAP plc ADR.................................. 85
38 Annaly Mortgage Management, Inc. ................. 510
18 AON Corp. ........................................ 742
2 Arch Capital Group Ltd. B......................... 146
5 Assurant, Inc. ................................... 257
11 Cincinnati Financial Corp. ....................... 488
9 Comverse Technology, Inc. B....................... 193
9 E*Trade Financial Corp. B......................... 214
10 Endurance Specialty Holdings Ltd. ................ 318
20 Fidelity National Financial, Inc. ................ 835
9 Fidelity National Title Group, Inc. .............. 195
8 Genworth Financial, Inc. ......................... 256
7 Hudson City Bancorp, Inc. ........................ 99
9 Keycorp........................................... 346
10 Leucadia National Corp. .......................... 589
9 Marshall & Ilsley Corp. .......................... 411
14 MBIA, Inc. ....................................... 853
10 Mercury General Corp. ............................ 526
4 Northern Trust Corp. ............................. 230
10 Nuveen Investments, Inc. Class A.................. 486
14 Old Republic International Corp. ................. 305
5 PNC Financial Services Group, Inc. ............... 372
5 Protective Life Corp. ............................ 267
14 Rent-A-Center, Inc. B............................. 387
10 Ryder System, Inc. ............................... 501
7 StanCorp Financial Group, Inc. ................... 345
3 State Street Corp. ............................... 215
3 The Student Loan Corp. ........................... 672
4 Torchmark Corp. .................................. 264
14 Waddell and Reed Financial, Inc. Class A.......... 335
16 Washington Federal, Inc. ......................... 376
1 White Mountains Insurance Group Ltd. ............. 370
-------
12,683
-------
HEALTH CARE -- 4.2%
7 Bard (C.R.), Inc. ................................ 484
5 Boston Scientific Corp. B......................... 123
10 Endo Pharmaceuticals Holdings, Inc. B............. 315
14 King Pharmaceuticals, Inc. B...................... 249
25 QLT, Inc. B....................................... 208
15 Serono S.A. ADR................................... 243
</Table>
The accompanying notes are an integral part of these financial statements.
179
THE HARTFORD SELECT MIDCAP VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
10 STERIS Corp. ..................................... $ 229
8 Watson Pharmaceuticals, Inc. B.................... 233
-------
2,084
-------
SERVICES -- 13.9%
29 Avaya, Inc. B..................................... 352
24 BISYS Group, Inc. B............................... 379
6 Brookfield Asset Management, Inc. ................ 238
16 Clear Channel Communications, Inc. ............... 448
9 Computer Sciences Corp. B......................... 533
10 Convergys Corp. B................................. 199
32 Discovery Holding Co. B........................... 473
1 Fairmont Hotels & Resorts, Inc. .................. 45
7 Gannett Co., Inc. ................................ 360
11 H & R Block, Inc. ................................ 251
4 Harrah's Entertainment, Inc. ..................... 351
11 Hewitt Associates, Inc. B......................... 307
9 Hilton Hotels Corp. .............................. 245
3 International Speedway Corp. Class A.............. 157
34 Interpublic Group of Cos., Inc. B................. 322
8 Manpower, Inc. ................................... 515
8 MoneyGram International, Inc. .................... 266
9 R.H. Donnelley Corp. B............................ 516
4 Speedway Motorsports, Inc. ....................... 143
16 Synopsys, Inc. B.................................. 346
25 Unisys Corp. B.................................... 159
6 Viad Corp. ....................................... 202
-------
6,807
-------
TECHNOLOGY -- 9.5%
14 Activision, Inc. B................................ 197
5 Amdocs Ltd. B..................................... 167
5 Amphenol Corp. Class A............................ 266
12 BEA Systems, Inc. B............................... 152
16 BMC Software, Inc. B.............................. 348
17 CA, Inc. ......................................... 420
7 ChoicePoint, Inc. B............................... 299
13 CSG Systems International, Inc. B................. 337
7 Deluxe Corp. ..................................... 157
4 Dover Corp. ...................................... 179
3 Dun & Bradstreet Corp. B.......................... 246
10 Lexmark International, Inc. ADR B................. 497
27 LSI Logic Corp. B................................. 288
3 Millipore Corp. B................................. 244
9 NCR Corp. B....................................... 367
10 PerkinElmer, Inc. ................................ 208
13 Polycom, Inc. B................................... 281
-------
4,653
-------
TRANSPORTATION -- 2.2%
3 Con-way, Inc. .................................... 167
4 CSX Corp. ........................................ 246
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
TRANSPORTATION -- (CONTINUED)
4 Norfolk Southern Corp. ........................... $ 200
5 Teekay Shipping Corp. ............................ 204
6 Yellow Roadway Corp. B............................ 244
-------
1,061
-------
UTILITIES -- 5.0%
13 Alliant Energy Corp. ............................. 410
20 CMS Energy Corp. B................................ 268
4 FirstEnergy Corp. ................................ 223
13 Northeast Utilities............................... 256
9 PPL Corp. ........................................ 253
4 Public Service Enterprise Group, Inc. ............ 226
9 Questar Corp. .................................... 688
6 Westar Energy, Inc. .............................. 134
-------
2,458
-------
Total common stock
(cost $42,619).................................. $46,339
-------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 3.5%
FINANCE -- 3.5%
$1,737 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 1,737
-------
Total short-term investments
(cost $1,737)................................... $ 1,737
-------
Total investments in securities
(cost $44,356) O................................ $48,076
=======
</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 1.91% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $44,382 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $4,416
Unrealized depreciation.......................... (722)
------
Net unrealized appreciation...................... $3,694
======
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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 SELECT SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- 92.1%
BASIC MATERIALS -- 5.3%
1 Airgas, Inc. ..................................... $ 20
1 Alpha Natural Resources, Inc. B................... 35
1 Cabot Corp. ...................................... 29
1 Century Aluminum Co. B............................ 43
3 Ceradyne, Inc. B.................................. 148
5 Coeur d'Alene Mines Corp. B....................... 37
1 Kaydon Corp. ..................................... 52
-- Ladish Co., Inc. ................................. 7
2 Meridian Gold, Inc. B............................. 49
1 Mobile Mini, Inc. B............................... 16
1 Royal Gold, Inc. ................................. 24
------
460
------
CAPITAL GOODS -- 6.6%
2 Brooks Automation, Inc. B......................... 23
1 Bucyrus International, Inc. ...................... 49
2 Charles & Colvard Ltd. ........................... 29
1 Dril-Quip, Inc. B................................. 65
1 Goodman Global, Inc. B............................ 20
1 Graco, Inc. ...................................... 51
1 Idex Corp. ....................................... 56
2 Imax Corp. B...................................... 22
2 K & F Industries Holdings, Inc. B................. 35
1 Lufkin Industries, Inc. .......................... 45
1 Shuffle Master, Inc. B............................ 22
1 Tessera Technologies, Inc. B...................... 39
3 Turbochef Technologies, Inc. B.................... 38
1 Universal Compression Holdings, Inc. B............ 67
------
561
------
CONSUMER CYCLICAL -- 9.5%
2 Casual Male Retail Group, Inc. B.................. 19
2 Cental Euro Distribution Corp. B.................. 62
1 Cost Plus, Inc. B................................. 21
1 Crocs, Inc. B..................................... 33
1 Desarrolladora Homex B............................ 42
1 Directed Electronics, Inc. B...................... 20
3 GSI Commerce, Inc. B.............................. 49
-- Iconix Brand Group, Inc. ......................... 5
4 Insight Enterprises, Inc. B....................... 73
2 Interline Brands, Inc. B.......................... 48
1 Merge Technologies, Inc. B........................ 18
2 Neoware, Inc. B................................... 33
2 Performance Food Group Co. B...................... 64
2 PSS World Medical, Inc. B......................... 43
2 Quicksilver, Inc. B............................... 22
1 RARE Hospitality International, Inc. B............ 37
1 School Specialty, Inc. B.......................... 25
1 SCP Pool Corp. ................................... 37
1 Sierra Wireless, Inc. B........................... 22
1 Stamps.com, Inc. B................................ 34
1 United Natural Foods, Inc. B...................... 16
1 Volcom, Inc. B.................................... 46
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
CONSUMER CYCLICAL -- (CONTINUED)
1 WCI Communities, Inc. B........................... $ 15
1 WESCO International, Inc. B....................... 38
------
822
------
CONSUMER STAPLES -- 0.3%
1 Parlux Fragrances, Inc. B......................... 30
------
ENERGY -- 7.4%
1 AGL Resources, Inc. .............................. 25
1 ATP Oil & Gas Corp. B............................. 59
2 Bronco Drilling Co., Inc. B....................... 62
4 Carrizo Oil & Gas, Inc. B......................... 103
2 Denbury Resources, Inc. B......................... 65
1 Encore Acquisition Co. B.......................... 34
4 Endeavour International Corp. B................... 14
1 Hercules Offshore, Inc B.......................... 49
1 Holly Corp. ...................................... 46
4 Petrohawk Energy Corp. B.......................... 48
2 Pioneer Drilling Co. B............................ 37
2 Pride International, Inc. B....................... 56
1 Superior Well Services, Inc. B.................... 32
1 Willbros Group, Inc. B............................ 13
------
643
------
FINANCE -- 8.6%
3 Annaly Mortgage Management, Inc. ................. 45
2 Apsen Insurance Holdings Ltd. .................... 37
3 AudioCodes Ltd. B................................. 42
1 Bank of the Ozarks, Inc. ......................... 20
1 Boston Private Financial Holdings, Inc. .......... 27
3 Centene Corp. B................................... 85
3 Eaton Vance Corp. ................................ 77
2 Euronet Worldwide, Inc. B......................... 57
1 First Niagara Financial Group, Inc. .............. 11
1 Gladstone Capital Corp. .......................... 15
1 Gladstone Commercial Corp. ....................... 28
2 HealthExtras, Inc. B.............................. 49
2 JER Investors Trust, Inc. ........................ 24
-- Jones Lang Laselle, Inc. ......................... 25
1 Montpelier Re Holdings Ltd. ...................... 23
2 Republic Companies Group, Inc. ................... 26
-- StanCorp Financial Group, Inc. ................... 20
2 Sunstone Hotel Investors, Inc. ................... 43
4 UCBH Holdings, Inc. .............................. 69
1 Wellcare Health Plans, Inc. B..................... 21
------
744
------
HEALTH CARE -- 14.5%
1 Abaxis, Inc. B.................................... 29
2 Adams Respiratory Therapeutics, Inc. B............ 69
2 Adeza Biomedical Corp. B.......................... 41
1 ArthroCare Corp. B................................ 63
3 Aspreva Pharmaceuticals Corp. B................... 109
1 Bright Horizons Family Solutions, Inc. B.......... 36
1 Covance, Inc. B................................... 35
1 CV Therapeutics, Inc. B........................... 28
2 First Horizon Pharmaceutical Corp. B.............. 40
</Table>
The accompanying notes are an integral part of these financial statements.
181
THE HARTFORD SELECT SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
1 Foxhollow Technologies, Inc. B.................... $ 19
2 Healthspring, Inc. B.............................. 31
1 Healthways, Inc. B................................ 39
2 I-Flow Corp. B.................................... 21
1 Impax Laboratories, Inc. B........................ 9
1 Integra Lifesciences Holdings Corp. B............. 33
1 Kos Pharmaceuticals, Inc. B....................... 63
2 Kyphon, Inc. B.................................... 66
1 LCA-Vision, Inc. ................................. 79
-- LifePoint Hospitals, Inc. B....................... 13
1 Medicis Pharmaceutical Corp. Class A.............. 29
2 Noven Pharmaceuticals, Inc. B..................... 34
1 Nuvasive, Inc. B.................................. 20
2 Odyssey HealthCare, Inc. B........................ 28
1 Option Care, Inc. ................................ 11
1 Quidel Corp. B.................................... 15
3 Salix Pharmaceuticals Ltd. B...................... 34
1 SFBC International, Inc. B........................ 30
1 Sierra Health Services, Inc. B.................... 27
1 Sybron Dental Specialties B....................... 38
2 Symmetry Medical, Inc. B.......................... 38
1 United Therapeutics Corp. B....................... 36
-- Usana Health Sciences, Inc. B..................... 7
2 Ventiv Health, Inc. B............................. 48
1 Vital Signs, Inc. ................................ 30
------
1,248
------
SERVICES -- 15.1%
1 Alliance Data Systems Corp. B..................... 61
-- American Ecology Corp. ........................... 3
3 Answerthink Consulting Group, Inc. B.............. 18
4 aQuantive, Inc. B................................. 88
1 Atheros Communications, Inc. B.................... 23
1 Avid Technology, Inc. B........................... 27
3 Broadwing Corp. B................................. 44
1 Carmike Cinemas, Inc. ............................ 27
-- Cerner Corp. B.................................... 16
1 CRA International, Inc. B......................... 39
1 DeVry, Inc. B..................................... 21
1 Digital River, Inc. B............................. 48
3 Digitas, Inc. B................................... 41
1 Entercom Communications Corp. .................... 13
3 Epicor Software Corp. B........................... 38
2 Essex Corp. B..................................... 45
3 Focus Media Holding Ltd. ADR B.................... 163
1 FTI Consulting, Inc. B............................ 37
1 Gevity HR, Inc. .................................. 33
1 Iron Mountain, Inc. B............................. 27
2 Ixia B............................................ 21
1 Kenexa Corp. B.................................... 43
3 LECG Corp. B...................................... 61
2 Mentor Graphics Corp. B........................... 22
-- Open Solutions, Inc. B............................ 11
1 Providence Service Corp. B........................ 25
3 Quest Software, Inc. B............................ 45
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
SERVICES -- (CONTINUED)
3 Radio One, Inc. Class D B......................... $ 18
3 Regal Entertainment Group......................... 53
1 Resources Connection, Inc. B...................... 21
1 Stericycle, Inc. B................................ 40
1 Veritas DGC, Inc. B............................... 48
1 West Corp. B...................................... 60
1 Wright Express Corp. B............................ 15
5 Zhone Technologies, Inc. B........................ 11
------
1,306
------
TECHNOLOGY -- 22.2%
-- Actuant Corp. Class A............................. 26
1 ADTRAN, Inc. ..................................... 20
2 Advanced Digital Information Corp. B.............. 20
-- American Science & Engineering, Inc. B............ 34
1 Aspect Medical Systems, Inc. B.................... 31
1 Avocent Corp. B................................... 30
1 Benchmark Electronics, Inc. B..................... 31
1 Blackbaud, Inc. .................................. 23
-- Commonwealth Telephone Enterprise, Inc. .......... 13
3 Concur Technologies, Inc. B....................... 42
2 Consolidated Communications Holdings, Inc. ....... 23
1 CTRIP Communications International Ltd. .......... 45
4 Dobson Communications Corp. B..................... 38
3 Entravision Communications Corp. Class A B........ 22
1 Equinix, Inc. B................................... 79
2 FairPoint Communications, Inc. ................... 24
4 Falconstor Software, Inc. B....................... 26
7 Glenayre Technologies, Inc. B..................... 40
-- Global Payments, Inc. ............................ 14
3 Harris Interactive, Inc. B........................ 13
1 Ikanos Communications, Inc. B..................... 24
2 Informatica Corp. B............................... 28
3 Integrated Device Technology, Inc. B.............. 40
3 Integrated Silicon Solution, Inc. B............... 20
1 Intersil Corp. ................................... 38
2 Iowa Telecommunications Services, Inc. ........... 29
1 IRIS International, Inc. B........................ 11
2 Itralase Corp. B.................................. 45
2 iVillage, Inc. B.................................. 20
3 Jupitermedia Corp. B.............................. 49
4 Lionbridge Technologies B......................... 30
-- MRO Software, Inc. B.............................. 8
1 Natus Medical, Inc. B............................. 20
3 Online Resources Corp. B.......................... 40
3 Openwave Systems, Inc. B.......................... 52
1 Orckit Communications Ltd. B...................... 11
1 Palomar Medical Technologies, Inc. B.............. 38
2 PC-Tel, Inc. B.................................... 25
2 PDF Solutions, Inc. B............................. 34
1 Polycom, Inc. B................................... 26
1 Power Integrations, Inc. B........................ 13
1 Rackable Systems, Inc. B.......................... 36
1 Redback Networks, Inc. B.......................... 27
1 Retalix Ltd. B.................................... 17
2 Rightnow Technologies, Inc. B..................... 28
</Table>
The accompanying notes are an integral part of these financial statements.
182
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
-- Rogers Corp. B.................................... $ 25
-- Saifun Semiconductors Ltd. B...................... 10
2 SBA Communications Corp. B........................ 50
3 Silicon Motion Technology Corp. B................. 37
1 Supertex, Inc. B.................................. 23
2 Syneron Medical Ltd. B............................ 49
1 TALX Corp. ....................................... 34
2 Tekelec B......................................... 24
1 Time Warner Telecom, Inc. Class A B............... 10
3 TradeStation Group, Inc. B........................ 40
4 Trident Microsystems, Inc. B...................... 106
3 Valueclick, Inc. B................................ 51
4 Vasco Data Security International B............... 38
1 Vital Images, Inc. B.............................. 20
3 WebSideStory, Inc. B.............................. 43
2 Zoran Corp. B..................................... 55
------
1,918
------
TRANSPORTATION -- 2.0%
3 A.S.V., Inc. B.................................... 73
-- American Commercial Lines, Inc. B................. 22
3 Heartland Express, Inc. .......................... 78
------
173
------
UTILITIES -- 0.6%
1 California Water Service Group.................... 26
1 PNM Resources, Inc. .............................. 25
------
51
------
Total common stock
(cost $7,066)................................... $7,956
------
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
SHORT-TERM INVESTMENTS -- 4.5%
FINANCE -- 4.5%
$389 State Street Bank Money Market Variable Rate,
Current Rate -- 3.52% K......................... $ 389
------
Total short-term investments
(cost $389)..................................... $ 389
------
Total investments in securities
(cost $7,455) O................................. $8,345
======
</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 6.47% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $7,458 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $1,160
Unrealized depreciation.......................... (273)
------
Net unrealized appreciation...................... $ 887
======
</Table>
B Currently non-income producing.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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.
183
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 53.5%
FINANCE -- 53.5%
$ 877 ACE Securities Corp.,
3.28%, 08/15/2030 M............................. $ 853
1,500 Aegis Asset Backed Securities Trust,
5.44%, 03/25/2035 K............................. 1,505
467 American Express Credit Account Master Trust,
5.40%, 02/15/2012 MK............................ 468
600 AmeriCredit Automobile Receivables Trust,
5.04%, 05/06/2011............................... 590
1,400 AmeriCredit Automobile Receivables Trust,
5.07%, 07/06/2010............................... 1,385
1,637 Banc of America Commercial Mortgage, Inc.,
3.46%, 07/10/2042............................... 1,603
32,445 Banc of America Commercial Mortgage, Inc.,
4.08%, 12/10/2042 WK............................ 692
144,833 Banc of America Large Loan,
3.89%, 12/15/2016 MW............................ 328
1,500 Banc of America Securities Auto Trust,
4.49%, 02/18/2013............................... 1,452
347 Bank One Issuance Trust,
4.54%, 09/15/2010............................... 342
852 Bayview Commercial Asset Trust,
5.96%, 01/25/2035 MK............................ 860
108,917 Bear Stearns Commercial Mortgage Securities,
6.25%, 12/11/2040 MW............................ 494
24,872 Bear Stearns Commercial Mortgage Securities, Inc.,
4.12%, 11/11/2041 W............................. 744
61,801 Bear Stearns Commercial Mortgage Securities, Inc.,
4.65%, 02/11/2041 W............................. 790
1,000 BMW Vehicle Owner Trust,
3.52%, 10/25/2010............................... 978
414 Capital Auto Receivables Asset Trust,
3.12%, 03/15/2007............................... 413
799 Capital Auto Receivables Asset Trust,
4.73%, 09/15/2010............................... 779
800 Capital Auto Receivables Asset Trust,
5.55%, 01/18/2011............................... 793
400 Capital One Master Trust,
7.90%, 10/15/2010 M............................. 412
1,000 Capital One Multi-Asset Execution Trust,
4.50%, 06/15/2011............................... 982
8,370 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 06/01/2036 MW............................ 550
11,628 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 07/25/2035 MW............................ 571
4,000 Chase Issuance Trust,
3.22%, 06/15/2010............................... 3,889
625 Chase Manhattan Auto Owner Trust,
2.78%, 06/15/2010............................... 611
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$ 500 Citibank Credit Card Issuance Trust,
5.70%, 02/09/2009 K............................. $ 504
19,119 Citigroup Commercial Mortgage Trust,
4.10%, 10/15/2041 MW............................ 740
790 CNH Equipment Trust,
2.57%, 09/15/2009............................... 774
213 CNH Equipment Trust,
3.13%, 11/15/2010............................... 209
300 CNH Equipment Trust,
3.35%, 02/15/2011............................... 291
750 CNH Equipment Trust,
4.93%, 12/17/2012............................... 729
3,594 Commercial Mortgage Pass-Through Certificates,
3.59%, 03/10/2039 MW............................ 114
22,543 CS First Boston Mortgage Securities Corp.,
4.15%, 11/15/2037 MW............................ 740
14,201 CS First Boston Mortgage Securities Corp.,
4.17%, 07/15/2036 MW............................ 340
800 Daimler Chrysler Auto Trust,
5.14%, 09/08/2012............................... 795
107 DLJ Mortgage Acceptance Corp.,
6.82%, 10/15/2030 M............................. 108
209 Equity One ABS, Inc.,
5.773%, 10/01/2032.............................. 208
300 Equity One ABS, Inc.,
7.46%, 07/25/2034 K............................. 303
1,625 Ford Credit Auto Owner Trust,
4.19%, 07/15/2009............................... 1,598
400 Ford Credit Auto Owner Trust,
4.29%, 11/15/2007............................... 400
750 Ford Credit Auto Owner Trust,
5.26%, 04/15/2011............................... 744
750 Ford Credit Auto Owner Trust,
5.46%, 09/15/2011............................... 744
9,444 GE Capital Commercial Mortgage Corp.,
3.76%, 03/10/2040 MW............................ 212
294 GE Commercial Equipment Financing LLC,
3.65%, 05/22/2014 M............................. 285
652 GMAC Commercial Mortgage Securities, Inc.,
3.12%, 03/10/2038............................... 631
374 GMAC Mortgage Corp. Loan Trust,
4.09%, 04/25/2033............................... 367
700 Goldman Sach Auto Loan Trust,
4.98%, 11/15/2013............................... 696
21,650 Goldman Sachs Mortgage Securities Corp. II,
4.38%, 08/10/2038 MW............................ 264
500 Granite Mortgages plc,
6.53%, 01/20/2043 K............................. 506
275 Green Tree Financial Corp.,
6.27%, 06/01/2030............................... 275
21 Green Tree Financial Corp.,
7.30%, 01/15/2026............................... 21
511 Hasco HIM Trust,
6.25%, 12/25/2035 M............................. 511
</Table>
The accompanying notes are an integral part of these financial statements.
184
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,000 Hertz Vehicle Financing LLC,
4.93%, 02/25/2010 M............................. $ 989
1,045 Home Equity Asset Trust,
4.75%, 06/27/2035 M............................. 1,030
1,540 Honda Auto Receivables Owner Trust,
2.79%, 03/16/2009............................... 1,511
1,000 Hyundai Auto Receivables Trust,
3.91%, 02/16/2009 M............................. 995
750 Hyundai Auto Receivables Trust,
4.10%, 08/15/2011............................... 732
1,500 Hyundai Auto Receivables Trust,
4.45%, 02/15/2012............................... 1,451
214 JP Morgan Chase Commercial Mortgage Securities
Corp.,
2.92%, 01/12/2038............................... 208
5,784 JP Morgan Chase Commercial Mortgage Securities
Corp.,
3.68%, 01/15/2038 MW............................ 205
38,085 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 W............................. 645
15,822 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.65%, 10/15/2037 MW............................ 354
40,405 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.82%, 08/12/2037 W............................. 190
1,500 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.65%, 02/15/2020 MK............................ 1,499
1,513 LB-UBS Commercial Mortgage Trust
3.625%, 10/15/2029.............................. 1,468
45 LB-UBS Commercial Mortgage Trust,
3.17%, 12/15/2026............................... 44
2,358 LB-UBS Commercial Mortgage Trust,
4.25%, 12/15/2036 MW............................ 87
799 Long Beach Asset Holdings Corp. NIM,
5.78%, 04/25/2046 M............................. 799
137 Long Beach Asset Holdings Corp.,
4.12%, 02/25/2035 M............................. 137
500 Marlin Leasing Receivables LLC,
4.52%, 03/15/2008 M............................. 494
500 Marlin Leasing Receivables LLC,
5.25%, 08/15/2012 M............................. 494
1,000 MBNA Credit Card Master Note Trust,
4.95%, 06/15/2009............................... 999
854 MBNA Credit Card Master Note Trust,
6.55%, 12/15/2008............................... 856
600 Memory Lane Advance Receivables Backed Notes,
5.02%, 10/24/2014 M............................. 591
1,006 Merrill Lynch Mortgage Trust,
3.46%, 08/12/2039............................... 978
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
FINANCE -- (CONTINUED)
$ 19,729 Merrill Lynch Mortgage Trust,
3.81%, 08/12/2039 MW............................ $ 673
20,618 Merrill Lynch Mortgage Trust,
3.96%, 09/12/2041 MW............................ 712
29,808 Merrill Lynch Mortgage Trust,
4.67%, 09/12/2042 W............................. 392
209 Morgan Stanley Dean Witter Capital I,
2.80%, 12/15/2041............................... 203
399 Morgan Stanley Dean Witter Capital I,
3.96%, 06/15/2040............................... 389
1,473 Morgan Stanley Dean Witter Capital I,
4.03%, 06/15/2038............................... 1,436
272 Morgan Stanley Dean Witter Capital I,
5.38%, 01/15/2039............................... 272
464 Navistar Financial Corp. Owner Trust,
3.08%, 11/15/2009............................... 454
99 Novastar Nim Trust,
3.97%, 03/25/2035 M............................. 99
540 Providian Gateway Master Trust,
3.35%, 09/15/2011 M............................. 525
750 Providian Gateway Master Trust,
3.95%, 09/15/2011 M............................. 734
1,000 Providian Gateway Master Trust,
4.05%, 11/15/2011 M............................. 978
429 Residential Asset Mortgage Products, Inc.,
3.68%, 08/25/2026............................... 427
2,271 Residential Asset Securities Corp,
3.62%, 07/25/2026............................... 2,259
309 Residential Asset Securities Corp.,
3.37%, 11/25/2028............................... 308
1,040 Salomon Brothers Mortgage Securities VII,
3.222%, 03/18/2036.............................. 1,025
68 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 68
1,500 Structured Asset Investment Loan Trust,
6.71%, 11/25/2033 K............................. 1,519
500 Superior Wholesale Inventory Financing Trust,
5.38%, 06/15/2010 K............................. 499
384 Wachovia Bank Commercial Mortgage Trust,
3.48%, 08/15/2041............................... 373
6,364 Wachovia Bank Commercial Mortgage Trust,
3.65%, 02/15/2041 MW............................ 208
25 Wachovia Bank Commercial Mortgage Trust,
4.54%, 04/15/2034............................... 25
290 WFS Financial Owner Trust,
2.48%, 12/20/2010............................... 287
203 WFS Financial Owner Trust,
2.73%, 05/20/2011............................... 200
79 WFS Financial Owner Trust,
3.05%, 12/20/2010............................... 78
1,000 WFS Financial Owner Trust,
4.70%, 05/19/2013............................... 977
149 Whole Auto Loan Trust,
2.24%, 03/15/2010............................... 147
15 Whole Auto Loan Trust,
3.13%, 03/15/2010............................... 15
</Table>
The accompanying notes are an integral part of these financial statements.
185
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 313 Whole Auto Loan Trust,
3.13%, 03/15/2011............................... $ 307
626 Whole Auto Loan Trust,
3.37%, 03/15/2011............................... 618
400 World Financial Network Credit Card Master Trust,
7.85%, 08/15/2011 K............................. 413
289 World Omni Auto Receivables Trust,
3.62%, 07/12/2011............................... 283
--------
Total asset & commercial mortgage backed
securities
(cost $70,084).................................. $ 68,852
--------
CORPORATE BONDS: INVESTMENT GRADE -- 29.1%
BASIC MATERIALS -- 2.3%
250 Carlisle Companies, Inc.,
6.70%, 05/15/2008............................... $ 254
125 ICI North America,
8.875%, 11/15/2006.............................. 127
160 International Flavors & Fragrances, Inc.,
6.45%, 05/15/2006............................... 160
200 International Paper Co.,
3.80%, 04/01/2008............................... 194
100 Pactiv Corp.,
8.00%, 04/15/2007............................... 101
380 Placer Dome, Inc.,
7.125%, 06/15/2007.............................. 387
370 Potash Corp. of Saskatchewan, Inc.,
7.125%, 06/15/2027.............................. 376
500 Valspar Corp.,
6.00%, 05/01/2007............................... 500
830 Worthington Industries, Inc.,
7.125%, 05/15/2006.............................. 830
--------
2,929
--------
CAPITAL GOODS -- 0.8%
750 McDonnell Douglas Corp.,
6.875%, 11/01/2006.............................. 755
300 Textron, Inc.,
6.625%, 11/15/2007.............................. 305
--------
1,060
--------
CONSUMER CYCLICAL -- 2.2%
500 Centex Corp.,
4.75%, 01/15/2008............................... 493
500 Centex Corp.,
4.93%, 08/01/2007 K............................. 500
700 Darden Restaurants, Inc.,
5.75%, 03/15/2007............................... 699
500 Johnson Controls, Inc.,
5.30%, 01/17/2008 K............................. 501
600 May Department Stores Co.,
7.90%, 10/15/2007............................... 616
--------
2,809
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CONSUMER STAPLES -- 0.7%
$ 675 Cargill, Inc.,
6.25%, 05/01/2006 M............................. $ 675
240 General Mills, Inc.,
6.45%, 10/15/2006............................... 241
--------
916
--------
ENERGY -- 1.6%
500 Anadarko Petroleum Corp.,
3.25%, 05/01/2008............................... 480
265 Anadarko Petroleum Corp.,
7.00%, 10/15/2006............................... 267
300 BOC Group, Inc.,
7.45%, 06/15/2006 M............................. 301
600 Consolidated Natural Gas, Inc.,
5.375%, 11/01/2006.............................. 600
350 Louis Dreyfus Natural Gas Corp.,
6.875%, 12/01/2007.............................. 357
--------
2,005
--------
FINANCE -- 9.8%
750 Ace INA Holdings, Inc.,
8.30%, 08/15/2006............................... 756
500 American General Finance Corp.,
5.91%, 06/12/2006............................... 500
1,000 Amvescap plc,
5.90%, 01/15/2007............................... 1,003
400 Avalon Properties, Inc.,
6.875%, 12/15/2007.............................. 408
600 Banca Commerciale Italiana,
8.25%, 07/15/2007............................... 618
150 Banesto Finance Ltd.,
7.50%, 03/25/2007............................... 152
500 Capital One Financial Corp.,
8.75%, 02/01/2007............................... 512
50 CIGNA Corp.,
8.25%, 01/01/2007............................... 51
1,145 Countrywide Financial Corp.,
5.50%, 08/01/2006............................... 1,146
220 Credit Suisse First Boston NY,
6.50%, 05/01/2008 M............................. 224
1,000 Credit Suisse First Boston USA, Inc.,
5.875%, 08/01/2006.............................. 1,001
610 Duke Realty L.P.,
3.50%, 11/01/2007............................... 594
500 ERAC USA Finance Co., 5.40%, 04/30/2009 MK........ 500
200 Evans Withycombe Residential, Inc.,
7.625%, 04/15/2007.............................. 203
650 Household Finance Corp.,
5.75%, 01/30/2007............................... 652
450 Household Finance Corp.,
7.65%, 05/15/2007............................... 460
400 JP Morgan Chase & Co.,
5.625%, 08/15/2006.............................. 400
450 JP Morgan Chase & Co.,
7.25%, 06/01/2007............................... 458
</Table>
The accompanying notes are an integral part of these financial statements.
186
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 250 Key Bank NA,
5.00%, 07/17/2007............................... $ 249
120 Lincoln National Corp.,
5.25%, 06/15/2007............................... 119
148 MBNA America Bank N.A.,
6.75%, 03/15/2008............................... 152
150 Merrill Lynch & Co., Inc.,
8.00%, 06/01/2007............................... 154
350 Simon Property Group L.P.,
7.125%, 09/20/2007.............................. 357
1,000 Sovereign Bank,
4.00%, 02/01/2008............................... 978
1,000 St. Paul Travelers Cos., Inc.,
5.75%, 03/15/2007............................... 1,003
--------
12,650
--------
HEALTH CARE -- 0.2%
300 Quest Diagnostics, Inc.,
6.75%, 07/12/2006............................... 301
--------
SERVICES -- 4.3%
500 Aramark Services, Inc.,
7.00%, 07/15/2006............................... 501
550 Belo Corp.,
7.125%, 06/01/2007.............................. 555
290 Cox Communications, Inc.,
7.75%, 08/15/2006............................... 292
300 Equifax, Inc.,
4.95%, 11/01/2007............................... 297
450 Harrah's Operating Co., Inc.,
7.125%, 06/01/2007.............................. 457
850 Hyatt Equities LLC,
6.875%, 06/15/2007 M............................ 860
1,000 Marriott International, Inc.,
7.00%, 01/15/2008............................... 1,023
300 News America, Inc.,
6.625%, 01/09/2008.............................. 306
775 Time Warner Companies, Inc.,
8.11%, 08/15/2006............................... 781
435 WMX Technologies, Inc.,
7.00%, 10/15/2006............................... 438
--------
5,510
--------
TECHNOLOGY -- 5.0%
450 Cingular Wireless LLC,
5.625%, 12/15/2006.............................. 451
500 Cingular Wireless Services, Inc.,
7.50%, 05/01/2007............................... 510
1,000 Deutsche Telekom International Finance,
5.11%, 03/23/2009 K............................. 1,000
825 Hewlett-Packard Co.,
5.75%, 12/15/2006............................... 827
300 Koninklijke Philips Electronics N.V.,
8.375%, 09/15/2006.............................. 303
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
TECHNOLOGY -- (CONTINUED)
$ 1,000 Lenfest Communications, Inc.,
7.625%, 02/15/2008.............................. $ 1,033
1,000 Oracle Corp.,
5.28%, 01/13/2006 MK............................ 998
707 Raytheon Co.
6.75%, 08/15/2007............................... 716
600 Verizon Wireless Capital LLC,
5.375%, 12/15/2006.............................. 600
--------
6,438
--------
TRANSPORTATION -- 1.4%
1,030 Norfolk Southern Corp.,
7.40%, 09/15/2006............................... 1,039
350 TTX Co.,
3.875%, 03/01/2008 M............................ 339
440 Union Pacific Corp.,
6.70%, 12/01/2006............................... 443
--------
1,821
--------
UTILITIES -- 0.8%
250 Northeast Utilities,
3.30%, 06/01/2008............................... 238
250 Puget Sound Energy, Inc.,
3.36%, 06/01/2008............................... 240
300 Southwestern Public Service Co.,
5.125%, 11/01/2006.............................. 299
270 Texas Eastern Transmission L.P.,
5.25%, 07/15/2007............................... 269
--------
1,046
--------
Total corporate bonds: investment grade
(cost $37,887).................................. $ 37,485
--------
U.S. GOVERNMENT SECURITIES -- 10.8%
U.S. TREASURY SECURITIES -- 10.8%
2,000 3.875% 2009 J..................................... $ 2,544
6,500 4.25% 2007........................................ 6,440
5,000 4.375% 2008....................................... 4,957
--------
Total U.S. government securities
(cost $13,973).................................. $ 13,941
--------
U.S. GOVERNMENT AGENCIES -- 3.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 0.7%
882 6.00% 2031........................................ $ 889
--------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 2.3%
3,000 5.50% 2036........................................ 2,913
--------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 0.8%
1,022 6.00% 2030/2032................................... 1,031
--------
Total U.S. government agencies
(cost $4,893)................................... $ 4,833
--------
Total long-term securities
(cost $126,837)................................. $125,111
--------
</Table>
The accompanying notes are an integral part of these financial statements.
187
THE HARTFORD SHORT DURATION FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 4.5%
REPURCHASE AGREEMENTS -- 4.5%
$ 1,954 BNP Paribas Repurchase Agreement,
4.67%, 05/01/2006............................... $ 1,954
1,815 RBS Greenwich Repurchase Agreement,
4.65%, 05/01/2006............................... 1,815
2,076 UBS Warburg Securities, Inc. Repurchase Agreement,
4.68%, 05/01/2006............................... 2,076
--------
Total short-term investments
(cost $5,845)................................... $ 5,845
--------
Total investments in securities
(cost $132,682) O............................... $130,956
========
</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 2.90% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $132,689 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 56
Unrealized depreciation......................... (1,789)
-------
Net unrealized depreciation..................... $(1,733)
=======
</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 April 30, 2006, was $23,350, which represents 18.15% of total net
assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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 April 30, 2006.
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.
188
THE HARTFORD SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.6%
BASIC MATERIALS -- 6.8%
71 Agnico Eagle Mines Ltd. .......................... $ 2,605
64 Alliant Techsystems, Inc. BH...................... 5,155
30 Arch Coal, Inc. .................................. 2,882
41 Eagle Materials, Inc. ............................ 2,718
57 First Quantum Minerals Ltd. ...................... 2,740
38 Martin Marietta Materials, Inc. .................. 3,992
99 Shaw Group, Inc. BH............................... 3,021
28 Wacker Chemie AG.................................. 3,680
--------
26,793
--------
CAPITAL GOODS -- 1.8%
65 Bucyrus International, Inc. ...................... 3,365
196 Goodman Global, Inc. B............................ 3,885
--------
7,250
--------
CONSUMER CYCLICAL -- 11.3%
82 Aftermarket Technology Corp. BH................... 2,091
107 Bebe Stores, Inc. ................................ 1,897
87 Citi Trends, Inc BH............................... 4,238
398 Corporacion GEO S.A. de C.V. B.................... 1,491
129 DSW, Inc. BH...................................... 4,041
8 Dufry Group B..................................... 643
97 GameStop Corp. Class A BH......................... 4,566
201 Geox S.p.A. D..................................... 2,861
58 Panera Bread Co. Class A BH....................... 4,266
91 Phillips-Van Heusen Corp. ........................ 3,662
58 Stamps.com, Inc. B................................ 1,643
56 Texas Roadhouse, Inc. BH.......................... 842
110 Too, Inc. BH...................................... 4,220
1,206 Toyo Contruction Co., Ltd. BD..................... 1,880
61 VistaPrint Ltd. BH................................ 1,960
74 Walter Industries................................. 4,912
--------
45,213
--------
ENERGY -- 4.2%
241 Acergy S.A. BDH................................... 3,924
67 Cabot Oil & Gas Corp. ............................ 3,283
48 Cheniere Energy, Inc. BH.......................... 2,075
126 Pride International, Inc. BH...................... 4,410
111 Range Resources Corp. ............................ 2,948
--------
16,640
--------
EXCHANGE TRADED FUNDS -- 1.3%
68 iShares Russell 2000 Growth Index Fund............ 5,412
FINANCE -- 14.7%
243 Admiral Group plc D............................... 2,941
46 Affiliated Managers Group, Inc. BH................ 4,626
95 Arch Capital Group Ltd. BH........................ 5,799
33 CB Richard Ellis Group, Inc. Class A BH........... 2,940
125 Doral Financial Corp. H........................... 989
89 Federated Investors, Inc. ........................ 3,118
617 Hong Kong Exchanges & Clearing Ltd. DH............ 4,434
91 LaSalle Hotel Properties.......................... 4,001
1,334 Melco International Development Ltd. D............ 2,993
82 Nasdaq Stock Market, Inc. BH...................... 3,073
69 National Financial Partners Corp. ................ 3,606
131 Nuveen Investments, Inc. Class A.................. 6,295
18 Oil Service Holders Trust......................... 2,788
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
61 Pirelli & C. Real Estate S.p.A. DH................ $ 4,466
75 ProAssurance Corp. BH............................. 3,767
71 Signature Bank BH................................. 2,515
--------
63,763
--------
HEALTH CARE -- 10.8%
160 Alkermes, Inc. BH................................. 3,438
82 Amylin Pharmaceuticals, Inc. BH................... 3,584
93 Arena Pharmaceuticals, Inc. BH.................... 1,320
108 AtheroGenics, Inc. BH............................. 1,534
69 Covance, Inc. B................................... 4,032
136 eResearch Technology, Inc. BH..................... 1,539
143 Exelixis, Inc. BH................................. 1,542
94 Healthspring, Inc. B.............................. 1,591
136 Human Genome Sciences, Inc. BH.................... 1,556
54 ICOS Corp. BH..................................... 1,181
20 Intuitive Surgical, Inc. B........................ 2,568
85 Kyphon, Inc. BH................................... 3,544
86 Medicines Co. BH.................................. 1,660
130 Pharmaceutical Product Development, Inc. ......... 4,676
25 Schwarz Pharma AG D............................... 2,194
20 Sunrise Assisted Living, Inc. BH.................. 727
160 Symbion, Inc. B................................... 3,685
75 Vertex Pharmaceuticals, Inc. BH................... 2,745
--------
43,116
--------
SERVICES -- 11.8%
48 Bankrate, Inc. BH................................. 2,325
37 Central European Media Enterprises Ltd. BH........ 2,358
27 Corporate Executive Board Co. .................... 2,913
124 Corrections Corp. of America BH................... 5,582
77 DreamWorks Animation SKG, Inc. BH................. 2,077
285 Foundry Networks, Inc. BH......................... 4,049
23 Jacobs Engineering Group, Inc. B.................. 1,925
113 Kenexa Corp. BH................................... 3,741
74 Lamar Advertising Co. BH.......................... 4,087
179 Live Nation, Inc. BH.............................. 3,401
143 MoneyGram International, Inc. .................... 4,849
142 Pinnacle Entertainment BH......................... 3,883
112 Six Flags, Inc. B................................. 1,031
46 URS Corp. B....................................... 1,995
48 Washington Group International, Inc. ............. 2,660
--------
46,876
--------
TECHNOLOGY -- 27.9%
295 Activision, Inc. BH............................... 4,191
123 American Reprographics Co. B...................... 4,345
130 American Tower Corp. Class A BH................... 4,421
73 Ansys, Inc. BH.................................... 4,095
14 Barco N.V. D...................................... 1,389
66 Cognos, Inc. BH................................... 2,457
62 Cree, Inc. BH..................................... 1,836
133 Crown Castle International Corp. BH............... 4,459
335 CSR plc BD........................................ 7,393
181 ECI Telecom Ltd. B................................ 1,933
40 Energy Conversion Devices BH...................... 2,009
63 Equinix, Inc. BH.................................. 4,173
108 Evergreen Solar, Inc. H........................... 1,495
33 Homestore.com, Inc. BH............................ 204
</Table>
The accompanying notes are an integral part of these financial statements.
189
THE HARTFORD SMALL COMPANY FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
151 Integrated Device Technology, Inc. BH............. $ 2,292
163 International Rectifier Corp. B................... 7,348
75 Logitech International S.A. BD.................... 3,117
32 NAVTEQ Corp. B.................................... 1,334
146 Netflix, Inc. BH.................................. 4,315
107 Neustar, Inc. BH.................................. 3,756
183 O2Micro International ADR BH...................... 1,970
403 Opsware, Inc. BH.................................. 3,413
75 Plantronics, Inc. ................................ 2,810
92 Red Hat, Inc. BH.................................. 2,696
148 Redback Networks, Inc. BH......................... 3,324
47 Salesforce.com, Inc. BH........................... 1,649
221 Syniverse Holdings, Inc. BH....................... 3,906
98 Teledyne Technologies, Inc. BH.................... 3,566
105 THQ, Inc. BH...................................... 2,700
113 TomTom N.V. BD.................................... 5,081
294 UbiquiTel, Inc. B................................. 3,050
239 Verifone Holdings, Inc. BH........................ 7,411
93 Verint Systems, Inc. BH........................... 3,014
4 Visicu, Inc. B.................................... 93
--------
111,245
--------
TRANSPORTATION -- 4.7%
53 American Commercial Lines, Inc. BH................ 2,881
71 Florida East Coast Industries, Inc. .............. 3,989
70 Forward Air Corp. ................................ 2,820
116 GOL Linhas Aereas Inteligentes S.A. ADR........... 4,285
168 Knight Transportation, Inc. ...................... 3,276
49 UTI Worldwide, Inc. .............................. 1,534
--------
18,785
--------
UTILITIES -- 1.3%
29 Q-Cells AG B...................................... 2,676
74 Suntech Power Holdings ADR BH..................... 2,527
--------
5,203
--------
Total common stock
(cost $302,768)................................. $384,884
--------
PREFERRED STOCKS -- 0.6%
UTILITIES -- 0.6%
51 NRG Energy, Inc. BH............................... $ 2,405
--------
Total preferred stocks
(cost $2,385)................................... $ 2,405
--------
Total long term investments
(cost $305,153)................................. $387,289
--------
SHORT-TERM INVESTMENTS -- 26.6%
REPURCHASE AGREEMENTS -- 0.9%
649 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 649
430 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 430
659 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 659
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
REPURCHASE AGREEMENTS -- (CONTINUED)
265 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... $ 265
595 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 595
98 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 98
1,061 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,061
--------
3,757
--------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 25.7%
102,410 Navigator Prime Portfolio......................... 102,410
--------
Total short-term investments
(cost $106,167)................................. $106,167
--------
Total investments in securities
(cost $411,320) O............................... $493,456
========
</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 18.96% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value by, or
under the direction of, the Funds' Board of Directors at April 30, 2006,
was $42,673, which represents 10.71% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax purposes
was $411,549 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $87,362
Unrealized depreciation............................ (5,455)
-------
Net unrealized appreciation........................ $81,907
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements regarding
valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Euro Buy $ 991 $ 978 05/02/2006 $13
Euro Buy 32 32 05/03/2006 --
Euro Buy 62 62 05/04/2006 --
Euro Sell 1,903 1,904 05/03/2006 1
Mexican Peso Sell 354 352 05/02/2006 (2)
Mexican Peso Sell 403 404 05/03/2006 1
---
$13
===
</Table>
The accompanying notes are an integral part of these financial statements.
190
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.6%
BASIC MATERIALS -- 6.0%
51 Cabot Microelectronics Corp. BH................... $ 1,678
32 Carpenter Technology Corp. ....................... 3,818
50 Cleveland-Cliffs, Inc. H.......................... 4,305
90 Eagle Materials, Inc. H........................... 5,969
51 Mueller Industries, Inc. ......................... 1,913
28 NS Group, Inc. B.................................. 1,381
109 Select Comfort Corp. BH........................... 4,352
55 Sun Hydraulics Corp. ............................. 1,151
73 Timken Co. ....................................... 2,558
105 UAP Holding Corp. ................................ 2,175
--------
29,300
--------
CAPITAL GOODS -- 4.2%
25 Briggs & Stratton Corp. .......................... 837
21 Cascade Corp. .................................... 867
71 Goodman Global, Inc. B............................ 1,402
114 Graco, Inc. ...................................... 5,339
48 Lennox International, Inc. ....................... 1,556
68 Lone Star Technologies, Inc. B.................... 3,621
37 Nordson Corp. .................................... 1,956
40 Photronics, Inc. B................................ 717
37 Tennant Co. ...................................... 1,904
47 Toro Co. ......................................... 2,344
--------
20,543
--------
CONSUMER CYCLICAL -- 10.0%
45 Albany International Corp. Class A................ 1,771
24 American Woodmark Corp. .......................... 827
177 Arris Group, Inc. B............................... 2,096
56 Be Aerospace, Inc. B.............................. 1,458
3 Beacon Roofing Supply, Inc. B..................... 107
109 Click Commerce, Inc. BH........................... 2,334
93 DSW, Inc. B....................................... 2,908
174 Genesco, Inc. B................................... 7,175
35 Mcgrath Rentcorp.................................. 928
54 Meritage Homes Corp. B............................ 3,509
72 Noble International Ltd. ......................... 1,154
31 Panera Bread Co. Class A B........................ 2,322
53 RARE Hospitality International, Inc. B............ 1,662
148 Skechers U.S.A., Inc. Class A B................... 4,052
170 Standard-Pacific Corp. ........................... 5,375
41 Stanley Furniture Co., Inc. ...................... 1,097
162 Stride Rite Corp. ................................ 2,263
113 Synaptics, Inc. B................................. 2,950
222 Talbots, Inc. .................................... 5,271
--------
49,259
--------
ENERGY -- 7.2%
61 Cabot Oil & Gas Corp. ............................ 3,002
57 Encore Acquisition Co. B.......................... 1,753
93 Energy Partners Ltd. B............................ 2,401
127 Frontier Oil Corp. ............................... 7,657
75 Giant Industries, Inc. B.......................... 5,405
274 Grey Wolf, Inc. B................................. 2,140
19 Houston Exploration Co. B......................... 1,046
261 Meridian Resource Corp. B......................... 1,012
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
ENERGY -- (CONTINUED)
238 PetroQuest Energy, Inc. B......................... $ 2,818
407 Seitel, Inc. B.................................... 1,707
44 St. Mary Land & Exploration Co. .................. 1,847
69 Swift Energy Co. B................................ 2,910
47 W&T Offshore, Inc. ............................... 1,985
--------
35,683
--------
FINANCE -- 11.8%
28 Aaron Rents, Inc. ................................ 763
78 Advanta Corp. Class B............................. 2,976
19 Affiliated Managers Group, Inc. BH................ 1,915
71 American Capital Strategies Ltd. H................ 2,458
126 Apsen Insurance Holdings Ltd. .................... 3,073
69 Arch Capital Group Ltd. B......................... 4,198
45 Assured Guaranty Ltd. ............................ 1,128
72 Bristol West Holdings, Inc. ...................... 1,320
27 City Holding Co. ................................. 980
34 CompuCredit Corp. B............................... 1,362
384 Doral Financial Corp. H........................... 3,033
48 First Community Bancorp........................... 2,761
70 Hersha Hospitality Trust.......................... 637
259 Impac Mortgage Holdings, Inc. H................... 2,461
185 IndyMac Bancorp, Inc. H........................... 8,930
41 Irwin Financial Corp. ............................ 744
384 Scottish Re Group Ltd. H.......................... 8,918
344 Strategic Hotels & Resorts, Inc. ................. 7,802
16 Taylor Capital Group, Inc. ....................... 616
50 Wellcare Health Plans, Inc. B..................... 2,086
--------
58,161
--------
HEALTH CARE -- 15.1%
210 Alkermes, Inc. B.................................. 4,513
86 American Retirement Corp. B....................... 2,172
150 Amylin Pharmaceuticals, Inc. BH................... 6,541
233 Applera Corp. -- Celera Genomics Group B.......... 2,797
44 Apria Healthcare Group, Inc. B.................... 953
147 Ciphergen Biosystems, Inc. B...................... 231
58 CNS, Inc. ........................................ 1,241
249 CV Therapeutics, Inc. BH.......................... 4,939
75 Diagnostic Products Corp. ........................ 4,333
319 Encysive Pharmaceuticals, Inc. BH................. 1,360
397 Exelixis, Inc. B.................................. 4,277
70 Haemonetics Corp. B............................... 3,815
125 Human Genome Sciences, Inc. BH.................... 1,430
134 Incyte Corp. B.................................... 560
35 Kosan Biosciences, Inc. B......................... 173
115 Magellan Health Services, Inc. B.................. 4,675
474 NPS Pharmaceuticals, Inc. BH...................... 4,065
153 Nu Skin Enterprises, Inc. Class A................. 2,528
168 Onyx Pharmaceuticals, Inc. BH..................... 3,916
47 OSI Pharmaceuticals, Inc. B....................... 1,238
93 Panacos Pharmaceuticals, Inc. B................... 648
98 Quidel Corp. B.................................... 1,120
319 Regeneron Pharmaceuticals, Inc. B................. 4,636
240 Rigel Pharmaceuticals, Inc. B..................... 2,578
70 Salix Pharmaceuticals Ltd. B...................... 963
</Table>
The accompanying notes are an integral part of these financial statements.
191
THE HARTFORD SMALLCAP GROWTH FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
HEALTH CARE -- (CONTINUED)
63 Sierra Health Services, Inc. B.................... $ 2,474
253 STERIS Corp. ..................................... 5,819
--------
73,995
--------
SERVICES -- 13.7%
135 Advisory Board Co. B.............................. 7,559
70 Ameristar Casinos, Inc. .......................... 1,718
274 BISYS Group, Inc. B............................... 4,369
99 Central European Media Enterprises Ltd. B......... 6,383
128 Cerner Corp. B.................................... 5,083
235 Cumulus Media, Inc. Class A BH.................... 2,482
131 Digital River, Inc. B............................. 5,682
62 Eclipsys Corp. B.................................. 1,356
158 Foundry Networks, Inc. B.......................... 2,249
135 Gevity HR, Inc. .................................. 3,471
82 Imergent, Inc. BH................................. 980
105 ITT Educational Services, Inc. B.................. 6,692
20 John H. Harland Co. .............................. 808
157 Journal Register Co. ............................. 1,751
146 Lin TV Corp. B.................................... 1,292
81 Live Nation, Inc. B............................... 1,539
37 MAXIMUS, Inc. .................................... 1,303
46 MTS Systems Corp. ................................ 2,045
84 Parametric Technology Corp. B..................... 1,257
118 Perot Systems Corp. Class A B..................... 1,784
74 Playboy Enterprises Class B B..................... 980
436 Premiere Global Services, Inc. B.................. 3,402
68 Resources Connection, Inc. B...................... 1,824
9 WorldSpace, Inc. BH............................... 53
37 Wright Express Corp. B............................ 1,142
--------
67,204
--------
TECHNOLOGY -- 26.2%
194 @Road, Inc. B..................................... 1,093
181 Acxiom Corp. ..................................... 4,681
36 ADTRAN, Inc. ..................................... 892
88 Ansys, Inc. B..................................... 4,956
157 Blackbaud, Inc. .................................. 3,292
46 Candela Corp. B................................... 1,076
331 CSG Systems International, Inc. B................. 8,373
464 Digital Generation Systems, Inc. B................ 279
140 Diodes, Inc. B.................................... 5,691
230 Dobson Communications Corp. B..................... 2,072
134 eFunds Corp. B.................................... 3,457
94 Emulex Corp. B.................................... 1,706
252 FuelCell Energy, Inc. BH.......................... 3,307
289 Gemstar-TV Guide International, Inc. B............ 957
83 Golden Telecom, Inc. ............................. 2,529
112 Hutchinson Technology, Inc. B..................... 2,662
168 Hyperion Solutions Corp. B........................ 5,130
54 Infospace, Inc. B................................. 1,374
35 International Rectifier Corp. B................... 1,596
356 Intervoice, Inc. B................................ 2,557
276 iPass, Inc. B..................................... 2,295
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
TECHNOLOGY -- (CONTINUED)
77 j2 Global Communications, Inc. BH................. $ 3,765
96 Komag, Inc. BH.................................... 4,032
57 LoJack Corp. B.................................... 1,260
100 MEMC Electronic Materials, Inc. B................. 4,076
417 Micrel, Inc. B.................................... 5,358
23 MicroStrategy, Inc. B............................. 2,119
32 Multi-Fineline Electronix, Inc. BH................ 1,847
57 Netflix, Inc. BH.................................. 1,689
34 Netlogic Microsystems, Inc. B..................... 1,349
44 Neustar, Inc. B................................... 1,537
51 Novatel, Inc. B................................... 1,762
84 OmniVision Technologies, Inc. B................... 2,437
35 Palomar Medical Technologies, Inc. B.............. 1,485
120 Plantronics, Inc. ................................ 4,500
164 Portalplayer, Inc. BH............................. 1,809
31 QAD, Inc. ........................................ 236
71 Semtech Corp. B................................... 1,324
80 Sigmatel, Inc. BH................................. 536
146 Silicon Image, Inc. B............................. 1,489
64 Sybase, Inc. B.................................... 1,382
71 Syniverse Holdings, Inc. B........................ 1,257
35 Teledyne Technologies, Inc. B..................... 1,260
298 THQ, Inc. B....................................... 7,630
66 Transaction Systems Architects, Inc. B............ 2,632
406 Trizetto Group, Inc. B............................ 6,389
168 UbiquiTel, Inc. B................................. 1,738
280 United Online, Inc. .............................. 3,612
--------
128,485
--------
TRANSPORTATION -- 4.4%
150 Arkansas Best Corp. .............................. 6,417
37 Continental Airlines, Inc. B...................... 971
65 General Maritime Corp. ........................... 2,149
274 Knight Transportation, Inc. ...................... 5,346
37 Maritrans, Inc. .................................. 880
251 Werner Enterprises, Inc. ......................... 4,807
106 World Air Holdings, Inc. B........................ 964
--------
21,534
--------
Total common stock
(cost $434,760)................................. $484,164
--------
<Caption>
PRINCIPAL
AMOUNT
- ---------
SHORT-TERM INVESTMENTS -- 14.1%
REPURCHASE AGREEMENT -- 1.7%
$ 8,590 Deutsche Bank Repurchase Agreement,
4.71%, 05/01/2006............................... $ 8,590
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 12.2%
60,059 BNY Institutional Cash Reserve Fund............... 60,059
--------
</Table>
The accompanying notes are an integral part of these financial statements.
192
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
) SHORT-TERM INVESTMENTS -- (CONTINUED
US TREASURY BILL -- 0.2%
$ 855 US Treasury Bill,
4.54%, 06/08/2006 Z [ ]......................... $ 847
--------
Total short-term investments
(cost $69,496).................................. $ 69,496
--------
Total investments in securities
(cost $504,256) O............................... $553,660
========
</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 2.51% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $505,132 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 71,715
Unrealized depreciation........................ (23,187)
--------
Net unrealized appreciation $ 48,528
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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 April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FUTURES CONTRACTS OUTSTANDING AT APRIL 30, 2006.
<Table>
<Caption>
UNREALIZED
APPRECIATION
NUMBER OF (DEPRECIATION)
DESCRIPTION CONTRACTS POSITION EXPIRATION AT 04/30/2006
- ----------- --------- -------- ---------- --------------
Russell Mini Futures 28 Long June 2006 $1
==
</Table>
These contracts had a market value of $2,153 as of April 30, 2006.
The accompanying notes are an integral part of these financial statements.
193
THE HARTFORD STOCK FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- 99.4%
BASIC MATERIALS -- 3.8%
452 Dow Chemical Co. ................................. $ 18,368
207 DuPont (E.I.) de Nemours & Co. ................... 9,111
192 Mittal Steel Co. H................................ 7,179
258 Newmont Mining Corp. ............................. 15,057
----------
49,715
----------
CAPITAL GOODS -- 2.7%
165 American Standard Cos., Inc. H.................... 7,200
96 Boeing Co. ....................................... 7,995
81 Deere & Co. ...................................... 7,101
172 Goodrich Corp. ................................... 7,672
120 Ingersoll-Rand Co. Class A........................ 5,246
----------
35,214
----------
CONSUMER CYCLICAL -- 7.6%
83 Altria Group, Inc. ............................... 6,058
183 Best Buy Co., Inc. ............................... 10,380
349 D.R. Horton, Inc. ................................ 10,480
662 Dollar General Corp. ............................. 11,557
275 Federated Department Stores, Inc. ................ 21,378
868 Gap, Inc. ........................................ 15,697
187 Home Depot, Inc. H................................ 7,483
251 Newell Rubbermaid, Inc. .......................... 6,871
136 Toyota Motor Corp. D.............................. 7,957
----------
97,861
----------
CONSUMER STAPLES -- 4.8%
113 Clorox Co. ....................................... 7,227
200 Coca-Cola Co. .................................... 8,396
199 PepsiCo, Inc. .................................... 11,572
365 Procter & Gamble Co. ............................. 21,229
189 Unilever N.V. NY Shares........................... 13,570
----------
61,994
----------
ENERGY -- 7.2%
166 ConocoPhillips.................................... 11,092
182 EnCana Corp. ..................................... 9,104
699 Exxon Mobil Corp. ................................ 44,099
18 Hugoton Royalty Trust............................. 488
715 Williams Cos., Inc. .............................. 15,689
292 XTO Energy, Inc. ................................. 12,345
----------
92,817
----------
FINANCE -- 20.2%
436 American International Group, Inc. ............... 28,479
639 Bank of America Corp. ............................ 31,904
746 Citigroup, Inc. .................................. 37,258
514 Countrywide Financial Corp. ...................... 20,883
275 E*Trade Financial Corp. B......................... 6,847
288 Federal Home Loan Mortgage Corp. ................. 17,597
62 Goldman Sachs Group, Inc. ........................ 9,922
@@ Mitsubishi UFJ Financial Group, Inc. D............ 6,019
168 Muenchener Rueckversicherungs-Gesellschaft AG D... 23,757
214 St. Paul Travelers Cos., Inc. .................... 9,422
204 State Street Corp. ............................... 13,351
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
FINANCE -- (CONTINUED)
102 Takefuji Corp. D.................................. $ 6,629
218 UBS AG............................................ 25,430
860 UniCredito Italiano S.p.A. D...................... 6,479
132 UnitedHealth Group, Inc. ......................... 6,556
150 Wellpoint, Inc. B................................. 10,678
----------
261,211
----------
HEALTH CARE -- 13.7%
434 Abbott Laboratories............................... 18,536
355 Amgen, Inc. B..................................... 24,054
126 AstraZeneca plc ADR............................... 6,919
1,141 Boston Scientific Corp. BH........................ 26,505
282 Bristol-Myers Squibb Co. H........................ 7,150
242 Cardinal Health, Inc. ............................ 16,285
375 Elan Corp. plc ADR BH............................. 5,519
462 Lilly (Eli) & Co. ................................ 24,465
332 Sanofi-Aventis S.A. ADR H......................... 15,603
731 Schering-Plough Corp. ............................ 14,125
378 Shionogi & Co., Ltd. D............................ 6,374
254 Wyeth............................................. 12,367
----------
177,902
----------
SERVICES -- 9.6%
416 Accenture Ltd. Class A............................ 12,096
153 Autodesk, Inc. B.................................. 6,411
222 Clear Channel Communications, Inc. H.............. 6,334
348 Comcast Corp. Class A BH.......................... 10,768
734 News Corp. Class A................................ 12,597
2,406 Sun Microsystems, Inc. BH......................... 12,028
115 United Parcel Service, Inc. Class B H............. 9,347
473 Viacom, Inc. Class B B............................ 18,822
663 Walt Disney Co. H................................. 18,524
845 XM Satellite Radio Holdings, Inc. Class A BH...... 17,086
----------
124,013
----------
TECHNOLOGY -- 27.1%
254 American Tower Corp. Class A BH................... 8,685
1,010 AT&T, Inc. H...................................... 26,476
1,210 Cisco Systems, Inc. B............................. 25,341
1,466 EMC Corp. B....................................... 19,803
1,133 Flextronics International Ltd. B.................. 12,867
1,869 General Electric Co. ............................. 64,631
34 Google, Inc. B.................................... 14,168
397 Lexmark International, Inc. ADR B................. 19,334
138 Lockheed Martin Corp. ............................ 10,436
516 Medtronic, Inc. .................................. 25,847
71 Mercury Interactive Corp. BH...................... 2,538
1,249 Microsoft Corp. .................................. 30,173
725 Nokia Oyj ADR..................................... 16,437
754 Oracle Corp. B.................................... 10,995
19 Samsung Electronics Co., Ltd. D................... 12,927
377 Sharp Corp. D..................................... 6,597
139 Sony Corp. D...................................... 6,792
1,014 Sprint Nextel Corp. H............................. 25,147
</Table>
The accompanying notes are an integral part of these financial statements.
194
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
COMMON STOCK -- (CONTINUED)
TECHNOLOGY -- (CONTINUED)
625 Taiwan Semiconductor Manufacturing Co., Ltd.
ADR H........................................... $ 6,550
197 Tyco International Ltd. .......................... 5,180
----------
350,924
----------
TRANSPORTATION -- 0.5%
415 Southwest Airlines Co. ........................... 6,725
----------
UTILITIES -- 2.2%
82 Dominion Resources, Inc. ......................... 6,139
89 E.On AG BD........................................ 10,859
219 Exelon Corp. ..................................... 11,815
----------
28,813
----------
Total common stock
(cost $1,193,997)............................... $1,287,189
----------
SHORT-TERM INVESTMENTS -- 12.5%
REPURCHASE AGREEMENTS -- 0.5%
1,026 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 1,026
679 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 679
1,041 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 1,041
419 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 419
940 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 940
154 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 154
1,677 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,677
----------
5,936
----------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- ----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 12.0%
155,703 BNY Institutional Cash Reserve Fund............... $ 155,703
----------
Total short-term investments
(cost $161,639)................................. $ 161,639
----------
Total investments in securities
(cost $1,355,636) O............................. $1,448,828
==========
</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 14.95% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $94,390, which represents 7.29% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $1,378,697 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 91,371
Unrealized depreciation........................ (21,240)
--------
Net unrealized appreciation.................... $ 70,131
========
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
U See Note 2b of accompanying Notes to Financial Statements
regarding valuation of securities.
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------ -------- ---------- --------------
Japanese Yen Buy $632 $631 05/02/2006 $ 1
Japanese Yen Buy 235 235 05/08/2006 --
---
$ 1
===
</Table>
The accompanying notes are an integral part of these financial statements.
195
THE HARTFORD TARGET RETIREMENT 2010 FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 96.8%
EQUITY FUNDS -- 48.4%
2 Hartford Capital Appreciation Fund, Class Y....... $ 93
14 Hartford Disciplined Equity Fund, Class Y......... 186
2 Hartford Global Leaders Fund, Class Y............. 31
2 Hartford Growth Fund, Class Y B................... 31
1 Hartford Growth Opportunities Fund, Class Y....... 31
2 Hartford International Capital Appreciation Fund,
Class Y......................................... 31
4 Hartford International Opportunities Fund, Class
Y............................................... 62
2 Hartford International Small Company Fund, Class
Y............................................... 31
2 Hartford MidCap Value Fund, Class Y............... 31
3 Hartford Select MidCap Growth Fund, Class Y....... 31
1 Hartford Small Company Fund, Class Y B............ 31
2 Hartford SmallCap Growth Fund, Class Y B.......... 62
3 Hartford Value Fund, Class Y...................... 31
5 Hartford Value Opportunities Fund, Class Y........ 93
------
Total equity funds
(cost $759)..................................... $ 775
------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
FIXED INCOME FUNDS -- 48.4%
11 Hartford Floating Rate Fund, Class Y.............. $ 108
6 Hartford High Yield Fund, Class Y................. 46
20 Hartford Inflation Plus Fund, Class Y............. 203
22 Hartford Short Duration Fund, Class Y............. 217
19 Hartford Total Return Bond Fund, Class Y.......... 202
------
Total fixed income funds
(cost $778)..................................... $ 776
------
Total investments in affiliated investment
companies
(cost $1,537) O................................. $1,551
======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes is $1,537 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
<Table>
Unrealized appreciation............................. $18
Unrealized depreciation............................. (4)
---
Net unrealized appreciation......................... $14
===
</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.
196
THE HARTFORD TARGET RETIREMENT 2020 FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 91.9%
EQUITY FUNDS -- 59.9%
1 Hartford Capital Appreciation Fund, Class Y....... $ 47
7 Hartford Disciplined Equity Fund, Class Y......... 89
1 Hartford Global Leaders Fund, Class Y............. 18
1 Hartford Growth Fund, Class Y B................... 18
-- Hartford Growth Opportunities Fund, Class Y....... 12
1 Hartford International Capital Appreciation Fund,
Class Y......................................... 12
2 Hartford International Opportunities Fund, Class
Y............................................... 35
1 Hartford International Small Company Fund, Class
Y............................................... 12
1 Hartford MidCap Value Fund, Class Y............... 12
1 Hartford Select MidCap Growth Fund, Class Y....... 12
-- Hartford Small Company Fund, Class Y B............ 12
1 Hartford SmallCap Growth Fund, Class Y B.......... 47
1 Hartford Value Fund, Class Y...................... 18
2 Hartford Value Opportunities Fund, Class Y........ 42
----
Total equity funds
(cost $363)..................................... $386
----
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
FIXED INCOME FUNDS -- 32.0%
3 Hartford Floating Rate Fund, Class Y.............. $ 29
2 Hartford High Yield Fund, Class Y................. 12
5 Hartford Inflation Plus Fund, Class Y............. 47
5 Hartford Short Duration Fund, Class Y............. 47
7 Hartford Total Return Bond Fund, Class Y.......... 71
----
Total fixed income funds
(cost $210)..................................... $206
----
Total investments in affiliated investment
companies
(cost $573) O................................... $592
====
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes is $573 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
<Table>
Unrealized appreciation............................. $21
Unrealized depreciation............................. (2)
---
Net unrealized appreciation......................... $19
===
</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.
197
THE HARTFORD TARGET RETIREMENT 2030 FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- -------
AFFILIATED INVESTMENT COMPANIES -- 84.1%
EQUITY FUNDS -- 67.3%
1 Hartford Capital Appreciation Fund, Class Y....... $ 30
3 Hartford Disciplined Equity Fund, Class Y......... 40
1 Hartford Global Leaders Fund, Class Y............. 14
-- Hartford Growth Fund, Class Y B................... 8
-- Hartford Growth Opportunities Fund, Class Y....... 11
1 Hartford International Capital Appreciation Fund,
Class Y......................................... 11
-- Hartford International Opportunities Fund, Class
Y............................................... 8
1 Hartford International Small Company Fund, Class
Y............................................... 11
-- Hartford MidCap Value Fund, Class Y............... 5
-- Hartford Select MidCap Growth Fund, Class Y....... 5
1 Hartford Small Company Fund, Class Y B............ 16
1 Hartford SmallCap Growth Fund, Class Y B.......... 27
1 Hartford Value Fund, Class Y...................... 11
1 Hartford Value Opportunities Fund, Class Y........ 19
----
Total equity funds
(cost $207)..................................... $216
----
FIXED INCOME FUNDS -- 16.8%
2 Hartford Inflation Plus Fund, Class Y............. $ 19
1 Hartford Short Duration Fund, Class Y............. 8
3 Hartford Total Return Bond Fund, Class Y.......... 27
----
Total fixed income funds
(cost $54)...................................... $ 54
----
Total investments in affiliated investment
companies
(cost $261) O................................... $270
====
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes is $261 and the aggregate gross unrealized appreciation and
depreciation based on that cost was:
<Table>
Unrealized appreciation............................. $10
Unrealized depreciation............................. (1)
---
Net unrealized appreciation......................... $ 9
===
</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.
198
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 90.9%
GENERAL OBLIGATIONS -- 15.4%
$ 500 California Infrastructure & Econ Dev,
5.00%, Bay Area Toll Bridges GO FSA
07/01/2022...................................... $ 537
900 California Kindergarten University,
3.73%, 05/01/2034 K............................. 900
650 Chico, CA,
5.00%, Redevelopment Agency Tax Allocation
04/01/2027...................................... 670
250 Puerto Rico Commonwealth,
5.00%, Ref GO 07/01/2030........................ 259
1,000 San Francisco, CA,
5.00%, California Toll Bridge Rev 04/01/2031.... 1,034
-------
3,400
-------
HEALTH CARE/SERVICES -- 6.8%
200 California ABAG FA for Non-Profit Corp.,
5.375%, San Diego Hospital Association
03/01/2021...................................... 206
250 California Health Fac FA,
5.25%, Catholic Healthcare West 07/01/2023...... 257
300 California Public Works Board,
5.00%, Dept of Health Services Richmond Lab
11/01/2030...................................... 307
200 California Public Works Board,
5.375%, Dept of Mental Health Patton
04/01/2028...................................... 208
250 California State Comm DA,
5.25%, Daughters of Charity Health 07/01/2030... 254
250 California State Comm DA,
6.00%, Health Fac Memorial Health Services
Rev 10/01/2023.................................. 272
-------
1,504
-------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 15.1%
455 California Educational Fac Auth Rev,
5.00%, 10/01/2025............................... 456
200 California Educational Fac Auth Rev,
5.00%, 01/01/2025............................... 198
300 California Educational Fac Auth Rev,
5.00%, 12/01/2025............................... 298
630 California Educational Fac Auth Rev,
5.00%, 04/01/2030............................... 633
180 California Educational Fac Auth Rev,
5.00%, La Verne University 06/01/2031........... 179
175 California State Comm DA,
4.875%, 10/01/2035.............................. 170
250 California State Comm DA,
6.75%, John F. Kennedy University Rev
10/01/2033...................................... 260
1,000 California State University Rev,
5.00%, 11/01/2028............................... 1,035
110 University Virgin Islands,
5.00%, 12/01/2021............................... 111
-------
3,340
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HOUSING (HFA'S, ETC.) -- 3.0%
$ 650 California Economy Recovery,
3.83%, 01/01/2012 K............................. $ 650
-------
LAND DEVELOPMENT -- 7.1%
350 Burbank, CA,
5.50%, FA Rev South San Fernando Redev Proj B
12/01/2023...................................... 360
400 Fontana, CA,
5.50%, Redev Agency Tax Allocation Ref Jurupa
Hills Redev Proj 10/01/2027..................... 409
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........................... 178
150 San Diego, CA,
5.60%, Redev Agency Tax Allocation North Bay
Redev Proj 09/01/2017........................... 155
-------
1,559
-------
MISCELLANEOUS -- 23.2%
100 Azusa, CA,
5.75%, Special Tax Comm Fac Dist #1 Mountain
Cove 09/01/2021................................. 101
50 Beaumont, CA,
7.25%, FA Rev 09/01/2020........................ 53
200 California Kings River Conservation Dist,
5.00%, Rev Ref Partner
Peaking Project 05/01/2013...................... 207
400 Contra Costa County, CA,
5.625%, Pub FA Tax Allocation 08/01/2033........ 412
200 Elk Grove, CA,
5.85%, Special Tax East Franklin Comm
08/01/2036...................................... 209
400 Huntington Park, CA,
5.25%, Public FA Rev Ref 09/01/2019............. 433
135 Indio, CA,
5.00%, Public FA Rev Local Agency 09/02/2014.... 135
57 Indio, CA,
6.35%, Public Improvement Act 1915 Special
Assess #2002-3 GO 09/02/2027.................... 59
1,000 Kern County, CA,
6.00%, California Tobacco Securitization Agency
06/01/2029...................................... 1,053
250 Lake Elsinore, CA,
5.15%, Special Tax Comm Fac
Dist 3 -- Area 1 09/01/2025..................... 251
</Table>
The accompanying notes are an integral part of these financial statements.
199
THE HARTFORD TAX-FREE CALIFORNIA FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
MISCELLANEOUS -- (CONTINUED)
$ 200 Lake Elsinore, CA,
5.35%, Special Tax Comm Fac Dist 1-A
09/01/2036...................................... $ 199
100 Lake Elsinore, CA,
5.85%, Special Tax Comm Fac Dist 2-A
09/01/2024...................................... 104
310 Long Beach, CA,
5.00%, Harbor Rev Ref 05/15/2015................ 322
300 Oceanside, CA,
5.70%, Comm Dev 09/01/2025...................... 312
100 Perris, CA,
6.25%, Public FA Local Agency Rev 09/01/2033.... 108
200 Roseville, CA,
5.25%, Special Tax CFD#1 09/01/2025............. 201
250 Sacramento, CA,
5.00%, North Natomas Comm Fac 09/01/2025........ 247
425 Solano, CA,
5.25%, MBIA 11/01/2021.......................... 450
250 Virgin Islands Public FA,
6.125%, Revhovenska Refinery 07/01/2022......... 267
-------
5,123
-------
POLLUTION CONTROL -- 1.1%
250 California PCR,
3.50%, Pacific Gas & Elec 12/01/2023............ 249
-------
PUBLIC FACILITIES -- 8.0%
250 California Public Works Board,
5.00%, Dept of Corrections Ref 12/01/2018....... 262
100 Capistrano, CA,
5.875%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2022............................... 103
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 09/01/2017...... 113
100 Orange County, CA,
5.20%, Comm Fac Dist Special Tax #02-1 Ladera
Ranch 08/15/2019................................ 101
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...................................... 205
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
PUBLIC FACILITIES -- (CONTINUED)
$ 300 William S. Hart Union High School Dist,
5.25%, 09/01/2026............................... $ 300
125 William S. Hart Union High School Dist,
5.85%, Special Tax Comm Fac
#2002-1 09/01/2022.............................. 126
-------
1,766
-------
UTILITIES -- COMBINED -- 1.3%
250 California State Water Dept,
5.875%, Res Power Supply Rev 05/01/2016......... 280
-------
UTILITIES -- GAS -- 1.4%
300 Chula Vista, CA,
5.30%, IDR Daily San Diego Gas 07/01/2021....... 315
-------
UTILITIES -- WATER AND SEWER -- 6.7%
500 Atwater, CA,
5.50%, Public FA Sewer & Water Project
05/01/2028...................................... 506
250 Big Bear Muni Water Dist,
5.00%, 1991 Ref Lake Imports 11/01/2024......... 247
100 Eastern California Municipal Water Dist,
5.70%, Comm Fac Special Tax
Improvement Area A #2001-02 09/01/2018.......... 102
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 Special Tax Comm Fac Dist
#99-1 09/01/2030................................ 208
-------
1,481
-------
WASTE DISPOSAL -- 1.8%
375 Stockton, CA,
5.20%, Wastewater Sys Proj MBIA 09/01/2029...... 391
-------
Total municipal bonds
(cost $19,727).................................. $20,058
-------
SHORT-TERM INVESTMENTS -- 4.7%
FINANCE -- 4.7%
1,045 Dreyfus Basic California Municipal Money Market
Fund, current rate -- 3.14% K................... $ 1,045
-------
Total short-term investments
(cost $1,045)................................... $ 1,045
-------
Total investments in securities
(cost $20,772) O................................ $21,103
=======
</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 April 30, 2006, the cost of securities for federal income tax
purposes was $20,772 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $420
Unrealized depreciation............................ (89)
----
Net unrealized appreciation........................ $331
====
</Table>
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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 MINNESOTA FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 93.5%
AIRPORT REVENUES -- 4.4%
$ 500 Minneapolis & St Paul, MN,
5.00%, Airport Commission 01/01/2035............ $ 512
1,000 Minneapolis & St Paul, MN,
5.625%, Airport Commission FGIC AMT
01/01/2018...................................... 1,047
-------
1,559
-------
GENERAL OBLIGATIONS -- 21.3%
1,000 Anoka-Hennepin County, MN,
5.00%, ISD #11 GO Credit Enhancement
Prog 02/01/2015................................. 1,037
1,300 Becker, MN,
6.00%, ISD #726 GO FSA 02/01/2017............... 1,398
500 Brainerd, MN,
5.375%, ISD #181 GO FGIC 02/01/2016............. 537
250 Minneapolis, MN,
5.00%, Parking Assess GO 12/01/2020............. 262
1,000 Minnesota,
5.25%, GO 08/01/2016............................ 1,044
785 Mounds View, MN,
5.25%, ISD #621 GO 02/01/2014................... 830
1,000 Puerto Rico Commonwealth Public Fin Corp Approp,
5.75%, GO 08/01/2027............................ 1,073
1,950 Rosemount, MN,
5.70%, ISD #196 GO MBIA 04/01/2015 Z............ 1,308
-------
7,489
-------
HEALTH CARE/SERVICES -- 16.2%
1,130 Duluth, MN,
5.50%, Econ DA Health Care Fac Rev Benedictine
Health Sys St Mary
02/15/2023...................................... 1,184
250 Minneapolis, MN,
6.00%, Health Care System AllinaHealth
11/15/2018...................................... 273
1,000 Minnesota Agriculture and Econ Dev Healthcare Fac,
5.25%, Benedictine Health 02/15/2014............ 1,052
335 St Paul, MN,
6.00%, Hsg & Redev Auth Hospital Rev
11/15/2025...................................... 361
750 Stillwater, MN,
5.00%, Health System Obligation Group
06/01/2035...................................... 749
725 Todd, Morrison, Cass & Wadena County, MN,
5.25%, United Hospital Lakewood Health Care Fac
12/01/2026...................................... 749
1,000 Waconia, MN,
6.10%, Health Care Fac Rev Ridgeview Med Ctr
Proj 01/01/2019................................. 1,070
250 Willmar, MN,
5.00%, Rice Memorial Hospital Proj FSA
02/01/2025...................................... 259
-------
5,697
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 15.0%
$ 350 Minnesota Higher Education FA,
5.25%, College of St Benedict 03/01/2024........ $ 360
1,000 Minnesota Higher Education FA,
5.375%, Univ of St Thomas 04/01/2018............ 1,031
1,000 Minnesota Higher Education FA,
5.40%, Univ of St Thomas 04/01/2023............. 1,031
500 Minnesota State Higher Education FA,
5.00%, Augsburg College 05/01/2020.............. 508
500 Minnesota State Higher Education FA,
5.00%, Augsburg College 05/01/2023.............. 506
80 University of Minnesota,
3.90%, 07/01/2008 K............................. 80
115 University of Minnesota,
3.90%, 01/01/2034 K............................. 115
1,000 University of Minnesota,
5.75%, 07/01/2018............................... 1,147
270 University Virgin Islands,
5.125%, 12/01/2022.............................. 274
100 University Virgin Islands,
5.25%, 12/01/2023............................... 102
125 University Virgin Islands,
5.25%, 12/01/2024............................... 127
-------
5,281
-------
HOUSING (HFA'S, ETC.) -- 9.2%
135 Minneapolis, MN,
6.00%, Redev Mtg Rev Riverplace Proj
01/01/2020...................................... 135
750 Minnesota Housing Finance Agency,
2.90%, Residential Housing Finance Ser D
05/18/2006...................................... 750
830 Minnesota Residential Housing Fin Agency,
5.00%, 01/01/2020............................... 837
1,000 Rochester Minnesota Health Care Facilities Revenue
Bond,
5.00%, 11/15/2036 Q............................. 1,020
450 St Paul, MN,
6.25%, Housing Redev Hope Comm Academy Proj
12/01/2019...................................... 467
-------
3,209
-------
MISCELLANEOUS -- 8.4%
1,000 Golden Valley, MN,
5.875%, Breck School Proj Rev 10/01/2019........ 1,058
250 Ramsey County, 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.................. 515
300 St Paul, MN,
6.75%, Redev Auth Rev Ref Achieve Language
Academy 12/01/2022.............................. 304
750 Virgin Islands Public FA,
6.125%, Revhovenska Refinery 07/01/2022......... 802
-------
2,930
-------
</Table>
The accompanying notes are an integral part of these financial statements.
202
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
POLLUTION CONTROL -- 1.4%
$ 500 Cohasset, MN,
4.95%, Pollution Control Rev Ref Coll Allete
Inc. Proj 07/01/2022............................ $ 500
-------
PUBLIC FACILITIES -- 2.4%
835 Minnesota Agricultural Society,
5.125%, State Fair Rev 09/15/2023............... 850
-------
TRANSPORTATION -- 5.2%
750 Duluth, MN,
4.20%, Seaway PA IDA Dock & Wharf Rev Ref
Cargill Inc Proj 05/01/2013..................... 730
1,000 Puerto Rico Commonwealth Highway & Transportation
Auth,
5.50%, FSA 07/01/2013........................... 1,094
-------
1,824
-------
UTILITIES -- COMBINED -- 0.9%
300 Princeton, MN,
5.00%, Public Utility Sys Rev 04/01/2024........ 302
-------
UTILITIES -- ELECTRIC -- 4.4%
500 Chaska, MN,
5.00%, Electric Rev 10/01/2030.................. 509
500 Minnesota Power Agency,
5.25%, Electric Rev 10/01/2019.................. 527
500 Northern MN Municipal Power Agency,
5.30%, Elec Sys Rev FSA 01/01/2021.............. 521
-------
1,557
-------
UTILITIES -- WATER AND SEWER -- 4.7%
500 Minneapolis, MN,
4.75%, Metro Council Water Treatment
12/01/2016...................................... 522
1,000 Puerto Rico Commonwealth Aqueduct & Sewer Auth
Rev,
6.25%, 07/01/2013............................... 1,122
-------
1,644
-------
Total municipal bonds
(cost $31,719).................................. $32,842
-------
SHORT-TERM INVESTMENTS -- 4.7%
FINANCE -- 4.7%
1,668 State Street Bank Tax Free Money Market, current
rate -- 3.07% K................................. $ 1,668
-------
Total short-term investments
(cost $1,668)................................... $ 1,668
-------
Total investments in securities
(cost $33,387) O................................ $34,510
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $33,387 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $1,215
Unrealized depreciation.......................... (92)
------
Net unrealized appreciation...................... $1,123
======
</Table>
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
Q The cost of securities purchased on a when-issued basis at April 30,
2006 was $1,021.
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 TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- 93.8%
ALABAMA -- 1.7%
$1,855 Huntsville, AL,
5.25%, GO 05/01/2022............................ $ 1,987
--------
ALASKA -- 0.9%
1,000 Anchorage, AK,
5.00%, Anchorage Convention Center 09/01/2034... 1,026
--------
ARIZONA -- 4.7%
560 Arizona Sundance Comm Fac Dist,
5.125%, 07/15/2030.............................. 555
453 Arizona Sundance Comm Fac Dist,
7.125%, Special Assess Rev #2 07/01/2027 M...... 480
1,800 Phoenix, AZ,
6.25%, GO 07/01/2017............................ 2,117
1,000 Pima County, AZ,
5.60%, Noah Webster Basic School 12/15/2019..... 985
1,100 Pima County, AZ,
5.75%, Charter Schools Proj 07/01/2016.......... 1,098
200 Vistancia, AZ,
6.75%, Comm Fac Dist GO 07/15/2022.............. 211
--------
5,446
--------
CALIFORNIA -- 14.8%
1,800 California Educational Fac Auth Rev,
5.00%, 01/01/2025............................... 1,785
990 California Educational Fac Auth Rev,
5.00%, 12/01/2025............................... 984
820 California Educational Fac Auth Rev,
5.00%, La Verne University 06/01/2031........... 814
500 California GO,
6.75%, 08/01/2011............................... 564
325 California State Comm DA,
4.875%, 10/01/2035.............................. 315
750 California State Comm DA,
5.25%, Daughter of Charity Health 07/01/2030.... 763
1,000 California State Public Works Board,
5.25%, 06/01/2030............................... 1,036
80 California State Water Dept,
5.50%, Water Res Dev 12/01/2010................. 86
750 California State Water Dept,
5.875%, Res Power Supply Rev 05/01/2016......... 840
350 California Statewide Comm DA,
4.875%, 10/01/2031.............................. 341
250 Capistrano, CA,
5.875%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2021............................... 259
250 Capistrano, CA,
5.90%, USD Comm Fac Dist Special Tax #90-2
Talega 09/01/2020............................... 260
95 Eastern California Municipal Water Dist,
5.70%, Comm Fac Special Tax Improvement Area A
#2001-02 09/01/2018............................. 97
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
CALIFORNIA -- (CONTINUED)
$ 625 Indio, CA,
5.625%, Public FA Rev Local Agency 09/02/2018... $ 629
38 Indio, CA,
6.35%, Public Improvement Act 1915 Special
Assess #2002-3 GO 09/02/2027.................... 39
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...... 789
500 Moreno Valley, CA,
6.00%, USD Comm Fac Dist Special Tax #2002-1
09/01/2022...................................... 523
700 Oceanside, CA,
5.70%, Comm Dev 09/01/2025...................... 728
535 Palm Springs, CA,
5.50%, Comm Redev Agency 09/01/2023............. 553
495 Perris, CA,
6.25%, Public FA Local Agency Rev 09/01/2033.... 533
1,000 Pomona, CA,
5.50%, Public FA Rev Sub-Merged Redev
02/01/2023...................................... 1,033
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...................................... 506
1,000 San Francisco, CA,
3.64%, Bay Area Toll Authority 04/01/2039 K..... 1,000
1,000 San Manuel, CA,
4.50%, Entertainment Auth Public Improvement
12/01/2016 M.................................... 983
800 Val Verde, CA,
6.00%, USD FA Special Tax Rev Jr Lien
10/01/2021...................................... 821
--------
17,005
--------
COLORADO -- 0.9%
1,000 Woodmen Heights, CO,
6.75%, Metered Dist #1 Rev 12/01/2020........... 1,006
--------
FLORIDA -- 3.3%
965 Bellalgo, FL,
5.85%, Education Fac Benefits Dist Capital
Improvement Rev 05/01/2022...................... 980
485 Colonial Country Club Comm Dev Dist, FL,
6.40%, Cap Impr Rev 05/01/2033.................. 512
1,250 Florida Dept of Environmental Protection
Preservation,
5.375%, MBIA 07/01/2015......................... 1,348
</Table>
The accompanying notes are an integral part of these financial statements.
204
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
FLORIDA -- (CONTINUED)
$ 235 Gateway Services,
5.50%, Comm Dev Dist of FL Special Assessment
Sun City Center Fort Meyers Proj 05/01/2010..... $ 236
750 Hollywood, FL,
5.125%, Comm Redev Agency 03/01/2014............ 749
--------
3,825
--------
GEORGIA -- 4.5%
750 Augusta, GA,
5.15%, Airport Rev Passenger Fac Charge
01/01/2035...................................... 751
1,105 Fulton County, GA,
5.375%, School Dist GO 01/01/2018............... 1,217
35 Fulton County, GA,
6.375%, Water & Sewer Rev FGIC 01/01/2014....... 39
1,765 Fulton County, GA,
6.375%, Water & Sewer Rev FGIC Part (Prerefunded
with State and Local Gov't Securities)
01/01/2014...................................... 1,974
15 Georgia Municipal Electric Auth,
6.50%, Power Rev (Prerefunded with U.S. Gov't
Securities) 01/01/2017.......................... 17
945 Georgia Municipal Electric Auth,
6.50%, Power Rev 01/01/2017..................... 1,100
40 Georgia Municipal Electric Auth,
6.50%, Power Rev Ser Y 01/01/2017............... 47
--------
5,145
--------
IDAHO -- 0.9%
1,000 Madison County, ID,
5.25%, Hospital Revenue 09/01/2030.............. 1,006
--------
ILLINOIS -- 6.1%
445 Bolingbrook, IL,
6.25%, Sales Tax Rev 01/01/2024 Z............... 397
960 Chicago, IL,
5.25%, Board of Education GO MBIA 12/01/2019.... 1,013
1,000 Chicago, IL,
6.75%, Tax Increment Allocation Jr Lien Pilsen
Redev B 06/01/2022.............................. 1,028
500 Illinois Education FA,
5.70%, Augustana College Ser A 10/01/2032....... 520
1,000 Illinois FA,
5.00%, Illinois Institute of Technology
04/01/2036...................................... 1,003
500 Plano, IL,
6.10%, Lakewood Springs Proj Special Services
Area 03/01/2035................................. 491
500 Round Lake, IL,
6.70%, Special Tax Rev 03/01/2033............... 510
1,000 Wauconda, IL,
6.625%, Special Service Area #1 Tax Liberty
Lakes Proj 03/01/2033........................... 1,038
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ILLINOIS -- (CONTINUED)
$ 975 Yorkville, IL,
6.875%, United City Special Service Area Tax
#2003-100 Raintree Village Proj 03/01/2033...... $ 1,029
--------
7,029
--------
KANSAS -- 2.4%
1,500 Kansas City, KS,
5.00%, Wyandotte County University Special
Obligation Rev 12/01/2020....................... 1,536
260 La Cygne, KS,
4.65%, Kansas City Power & Light 09/01/2035..... 254
1,000 Salina, KS,
4.625%, Salina Regional Health Hospital Rev
10/01/2031...................................... 949
--------
2,739
--------
KENTUCKY -- 1.0%
150 Boone County, KY,
4.70%, Pollution Control Dayton Power & Light
01/01/2028...................................... 150
1,000 Christian County, KY,
6.00%, Hospital Rev Ref Jennie Stuart Medical
07/01/2013...................................... 1,024
--------
1,174
--------
LOUISIANA -- 0.4%
500 Louisiana Public FA Rev,
5.50%, Ochsner Clinic Foundation Proj
05/15/2027 V.................................... 509
--------
MARYLAND -- 1.0%
1,000 Maryland Economic Dev Corp,
6.50%, Student Housing Rev Univ of Maryland
College Park Proj 06/01/2027.................... 1,150
--------
MASSACHUSETTS -- 1.8%
1,000 Massachusetts State Health & Education Fac,
3.63%, 07/01/2029 K............................. 1,000
940 Massachusetts,
5.25%, GO Consolidated Loan 03/01/2021.......... 1,004
60 Massachusetts,
5.25%, GO Consolidated Loan FSA (Prerefunded
with U.S. Gov't Securities) 03/01/021........... 64
--------
2,068
--------
MICHIGAN -- 4.3%
500 Detroit, MI,
5.50%, GO MBIA 04/01/2020....................... 539
1,750 Detroit, MI,
6.50%, Water Supply Sys Ref Rev FGIC
07/01/2015...................................... 2,049
1,000 Macomb County, MI,
5.75%, Hosp FA Rev Mt Clemens Gen Hospital
11/15/2025...................................... 1,048
</Table>
The accompanying notes are an integral part of these financial statements.
205
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
MICHIGAN -- (CONTINUED)
$ 500 Michigan Hospital FA,
5.625%, Rev Ref Henry Ford Health Sys
03/01/2017...................................... $ 533
750 Michigan Strategic Fund Ltd,
5.50%, Rev Ref Dow Chemical Proj AMT
12/01/2028...................................... 799
--------
4,968
--------
MINNESOTA -- 3.9%
250 Duluth, MN,
4.20%, Seaway PA IDA Dock & Wharf Rev Ref
Cargill Inc Proj 05/01/2013..................... 243
750 Minneapolis, MN,
6.00%, Health Care System Allina Health
11/15/2018...................................... 821
830 Minnesota Residential Housing Fin Agency,
5.00%, 01/01/2020............................... 837
500 Ramsey County, MN,
6.50%, Lease Rev Pact Charter School Proj
12/01/2022...................................... 502
665 St Paul, MN,
6.00%, Housing & Redev Auth Hospital Rev
11/15/2025...................................... 716
500 St Paul, MN,
6.75%, Redev Auth Rev Ref Achieve Language
Academy 12/01/2022.............................. 506
860 St Paul, MN,
6.00%, Housing & Redev Auth Lease Rev
12/01/2018...................................... 852
--------
4,477
--------
MISSISSIPPI -- 0.3%
250 Lowndes County, MS,
6.80%, Solid Waste Disposal & Poll Control Rev
Ref Weyerhaeuser Co Proj 04/01/2022............. 295
--------
MISSOURI -- 0.5%
500 Branson, MO,
5.50%, State Dev Fin Board Infrastructure
12/01/2032...................................... 517
--------
NEVADA -- 2.3%
1,000 Clark County, NV,
6.375%, Impt Dist #142 08/01/2023............... 1,035
1,115 North Las Vegas, NV,
5.10%, Local Impt 12/01/2022 Q.................. 1,115
495 North Las Vegas, NV,
6.40%, Local Special Impt Dist #60 Aliante
12/01/2022...................................... 510
--------
2,660
--------
NEW HAMPSHIRE -- 0.7%
750 New Hampshire Health & Education FA,
5.60%, Elliot Hospital 10/01/2022............... 787
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
NEW JERSEY -- 3.7%
$1,250 Middlesex County, NJ,
5.00%, Improvement Auth Street Student Housing
Proj 08/15/2018................................. $ 1,281
750 New Jersey Education FA,
5.125%, Stevens Institute of Technology
07/01/2022...................................... 767
275 New Jersey Education FA,
6.00%, Fairleigh Dickinson University
07/01/2025...................................... 298
500 New Jersey Education FA,
6.50%, Georgian Court College 07/01/2033........ 551
500 New Jersey Health Care Fac FA,
6.50%, Pascack Valley Hospital 07/01/2023....... 519
800 New Jersey,
5.625%, Economic DA Rev Cigarette Tax
06/15/2019...................................... 834
--------
4,250
--------
NEW MEXICO -- 0.6%
665 Cabezon, NM,
5.20%, Public Improvement District 09/01/2015... 661
--------
NEW YORK -- 6.4%
575 Cattaraugus County, NY,
5.10%, 05/01/2031............................... 575
250 Dutchess County, NY,
5.00%, IDA Civic Fac Rev Ref Marist College
07/01/2022...................................... 256
550 Erie County, NY,
6.75% IDA Charter School Applied Tech Proj-A
06/01/2020...................................... 540
1,000 Liberty, NY,
5.25%, Corp Dev Goldman Sachs Headquarters
10/01/2035...................................... 1,079
800 New York Dorm Auth,
5.25%, Methodist Hospital 07/01/2019............ 837
500 New York State Govt Assistance Corp.,
3.73%, 04/01/2019 K............................. 500
1,000 New York, NY,
5.50%, IDA Terminal One Group Assoc Project
01/01/2024...................................... 1,044
895 New York, NY,
5.75%, GO (Prerefunded with U.S. Gov't
Securities) 03/01/2016.......................... 974
105 New York, NY,
5.75%, GO 03/01/2016............................ 116
300 Saratoga, NY,
5.00%, IDA Saratoga Hospital Proj 12/01/2013.... 308
620 Utica, NY,
6.875%, IDA Civic Fac Rev Utica College
12/01/2014...................................... 673
</Table>
The accompanying notes are an integral part of these financial statements.
206
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
NEW YORK -- (CONTINUED)
$ 400 Westchester County, NY,
6.375%, IDA Continuing Care Retirement
Mtg-Kendal on Hudson Proj 01/01/2024............ $ 422
--------
7,324
--------
NORTH CAROLINA -- 0.9%
500 North Carolina Eastern Municipal Power Agency,
5.375%, Power Sys Rev Ref 01/01/2017............ 523
500 North Carolina Municipal Power Agency,
5.50%, Catawba Elec Rev 01/01/2014.............. 530
--------
1,053
--------
OHIO -- 1.6%
300 Cuyahoga County, OH,
5.50%, Rev Ref Class A 01/01/2029............... 311
1,270 Hamilton, OH,
6.15%, School Dist Improvement 12/01/2016....... 1,470
--------
1,781
--------
OTHER U.S. TERRITORIES -- 1.7%
1,000 Puerto Rico Commonwealth,
5.00%, Ref GO 07/01/2030........................ 1,037
110 University Virgin Islands,
5.00%, 12/01/2021............................... 111
750 Virgin Islands Public FA,
6.125%, Revhovenska Refinery 07/01/2022......... 802
--------
1,950
--------
PENNSYLVANIA -- 5.3%
545 Carbon County, PA,
6.65%, IDA Res Recovery Panther Creek Partners
Proj AMT 05/01/2010............................. 573
1,000 Lehigh County, PA,
5.375%, Saint Lukes Bethlehem Hospital
08/15/2033...................................... 1,027
800 Montgomery County, PA,
6.125%, IDA Whitemarsh Continuing Care Proj
02/01/2028...................................... 840
1,000 Pennsylvania Higher Education FA,
3.75%, 11/01/2025 K............................. 1,000
1,100 Pennsylvania Higher Education FA,
3.75%, 11/01/2029 K............................. 1,100
1,000 Pennsylvania Higher Education FA,
5.25%, Widener University 07/15/2024............ 1,031
500 Susquehanna, PA,
5.375%, Regional Airport Auth Sys Rev
01/01/2018...................................... 508
--------
6,079
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
RHODE ISLAND -- 5.7%
$1,000 Central Falls, RI,
6.75%, Detention FA Fac Rev 01/15/2013.......... $ 1,033
250 Rhode Island Health & Education Bldg Corp,
6.50%, Hospital Fin 08/15/2032.................. 286
5,000 Rhode Island,
6.00%, Tobacco Settlement Funding Corp
06/01/2023...................................... 5,234
--------
6,553
--------
SOUTH CAROLINA -- 1.6%
1,000 Dorchester County, SC,
5.25%, School Dist #2 Installment Pur Rev Growth
Remedy Oppty Hike 12/01/2024.................... 1,041
750 Lancaster County, SC,
5.45%, Sun City Carolina Lakes Improvement
12/01/2037...................................... 758
--------
1,799
--------
TENNESSEE -- 2.2%
2,000 Johnson City, TN, 5.50% Health & Educational Facs
Board Hospital Rev 07/01/2036................... 2,072
500 McMinn County, TN,
7.625%, IDA PCR Calhoun Newsprint Co Proj
03/01/2016...................................... 503
--------
2,575
--------
TEXAS -- 2.2%
1,000 Brazos River Authority,
5.00%, Pollution Control Rev 03/01/2041......... 995
1,000 Matagorda County, TX,
5.60%, Navigation Dist #1 Rev Ref Centerpoint
Energy Proj 03/01/2027.......................... 1,030
500 Sam Rayburn Municipal Power Agency,
5.50%, Rev Ref 10/01/2010....................... 524
--------
2,549
--------
UTAH -- 0.5%
500 Utah GO,
5.375%, 07/01/2011.............................. 538
--------
VIRGINIA -- 2.7%
500 Norfolk, VA,
6.00%, Redev & Housing Auth First Mort
Retirement Comm 01/01/2025...................... 507
1,000 Peninsula, VA,
6.00%, Port Auth Fac CSX Transport Proj Rev Ref
12/15/2012...................................... 1,078
1,455 Virginia Tobacco Settlement Funding Corp,
5.50%, 06/01/2026............................... 1,489
--------
3,074
--------
WASHINGTON -- 0.6%
670 King County, WA,
5.00%, ISD #210 GO 06/01/2019................... 694
--------
</Table>
The accompanying notes are an integral part of these financial statements.
207
THE HARTFORD TAX-FREE NATIONAL FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
MUNICIPAL BONDS -- (CONTINUED)
WISCONSIN -- 1.7%
$1,305 Sparta, WI,
5.90%, School Dist Ref GO FGIC 03/01/2016....... $ 1,407
500 Wisconsin Housing & Economic Dev Auth,
4.85%, GO Home Ownership Rev 09/01/2017......... 510
--------
1,917
--------
Total municipal bonds
(cost $104,134)................................. $107,616
--------
SHORT-TERM INVESTMENTS -- 4.7%
FINANCE -- 4.7%
5,449 State Street Bank Tax Free Money Market, current
rate -- 3.07% K................................. $ 5,449
--------
Total short-term investments
(cost $5,449)................................... $ 5,449
--------
Total investments in securities
(cost $109,583) O............................... $113,065
========
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $109,583 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation.......................... $3,710
Unrealized depreciation.......................... (228)
------
Net unrealized appreciation...................... $3,482
======
</Table>
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 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
-------- ---------- -------- -----
August, 500 Louisiana Public FA Rev, $484
2002...... Foundation Proj.
</Table>
The aggregate value of these securities at April 30, 2006 was $509,
which represents 0.44% 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 April 30, 2006, was $1,463, which represents 1.27% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
Q The cost of securities purchased on a when-issued basis at April 30,
2006 was $1,115.
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.
208
THE HARTFORD TAX-FREE NEW YORK FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- 95.7%
AIRPORT REVENUES -- 2.4%
$ 200 Monroe County, NY,
5.25%, Airport Auth Rev Ref Greater Rochester
International 01/01/2014........................ $ 209
150 New York, NY,
5.50%, IDA Terminal One Group Assoc Project
01/01/2024...................................... 157
-------
366
-------
GENERAL OBLIGATIONS -- 18.7%
1,000 Nassau County, NY,
5.00%, Tobacco Settlement Corp
06/01/2035...................................... 969
250 New York, NY,
3.71%, GO 08/01/2009 K.......................... 250
450 New York, NY,
5.00%, GO 03/01/2030............................ 460
380 New York, NY,
5.75%, GO 03/01/2016............................ 413
45 New York, NY,
5.75%, GO (Prerefunded with U.S. Gov't
Securities) 03/01/2016.......................... 50
250 Puerto Rico Commonwealth,
5.00%, Ref GO 07/01/2030........................ 259
500 TSACS Inc,
5.125%, GO 06/01/2042........................... 486
-------
2,887
-------
HEALTH CARE/SERVICES -- 9.9%
125 Chemung County, NY,
5.00%, IDA Civic Fac Rev Arnot Ogden Medical Ctr
Constr 11/01/2034............................... 125
445 New York Dorm Auth,
5.00%, Mental Health Services Fac (Prerefunded
with U.S. Gov't Securities) 02/15/2018.......... 464
5 New York Dorm Auth,
5.00%, Mental Health Services Fac 02/15/2018.... 5
400 New York Dorm Auth,
5.00%, Rochester General Hospital 12/01/2025.... 414
200 New York Dorm Auth,
5.25%, Methodist Hospital 07/01/2019............ 209
200 Saratoga, NY,
5.00%, IDA Saratoga Hospital Proj 12/01/2014.... 205
100 Westchester County, NY,
6.375%, IDA Continuing Care Retirement
Mtg-Kendal on Hudson Proj 01/01/2024............ 106
-------
1,528
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
HIGHER EDUCATION (UNIV., DORMS, ETC.) -- 27.9%
$ 250 Dutchess County, NY,
5.00%, IDA Civic Fac Rev Ref Marist College
07/01/2022...................................... $ 256
250 Erie County, NY,
6.75% IDA Charter School Applied Tech Proj-A
06/01/2020...................................... 245
110 New York Dorm Auth,
5.00%, Fordham Univ FGIC (Prerefunded with U.S.
Gov't Securities) 07/01/2020.................... 117
80 New York Dorm Auth,
5.00%, Fordham University FGIC
07/01/2020...................................... 83
400 New York Dorm Auth,
5.00%, Mount St Mary College 07/1/2027.......... 411
450 New York Dorm Auth,
5.00%, State University Dorm Fac
07/01/2032...................................... 480
450 New York Dorm Auth,
5.125%, St Barnabas FHA AMBAC
02/01/2022...................................... 470
135 New York Dorm Auth,
5.25%, Rochester University 07/01/2022.......... 143
250 New York Dorm Auth,
5.25%, Upstate Comm College 07/01/2021.......... 265
250 New York Dorm Auth,
5.50%, Brooklyn Law School 07/01/2019........... 267
425 New York Dorm Auth,
5.50%, Court Fac 05/15/2020..................... 465
200 New York Dorm Auth,
5.50%, Winthrop South Nassau University
07/01/2023...................................... 206
200 Otsego County, NY,
6.00%, IDA Civic Fac Rev Hartwick College Proj
07/01/2011...................................... 210
450 St. Lawrence, NY,
5.00%, IDA Civic Fac Rev Clarkson University
Proj 07/01/2023................................. 458
110 University Virgin Islands,
5.00%, 12/01/2021............................... 111
100 Utica, NY,
6.875%, IDA Civic Fac Rev Utica College
12/01/2014...................................... 109
-------
4,296
-------
HOUSING (HFA'S, ETC.) -- 5.5%
175 Cattaraugus County, NY,
5.10%, 05/01/2031............................... 175
200 Grand Central, NY,
5.00%, Dist Management Association, 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...... 466
-------
847
-------
</Table>
The accompanying notes are an integral part of these financial statements.
209
THE HARTFORD TAX-FREE NEW YORK FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
MUNICIPAL BONDS -- (CONTINUED)
INDUSTRIAL -- 5.3%
$ 100 Albany, NY,
5.00%, IDA New Covenant Charter School
05/01/2007...................................... $ 100
200 Liberty, NY,
5.25%, Corp Dev Goldman Sachs Headquarters
10/01/2035...................................... 216
250 New York, NY,
3.85%, Transitional FA NYC Recovery
11/01/2022 K.................................... 250
250 New York, NY,
5.25%, IDA Civic Fac Rev YMCA of Greater NY Proj
08/01/2021...................................... 257
-------
823
-------
LAND DEVELOPMENT -- 4.5%
700 Triborough Bridges and Tunnel Auth,
3.79%, 11/01/2032 K............................. 700
-------
MISCELLANEOUS -- 7.5%
450 New York, NY,
5.00%, Transitional FA Future Tax Secured
08/01/2023...................................... 467
400 Tobacco Settlement FA of NY,
5.50%, 06/01/2022............................... 428
250 Virgin Islands Public FA,
6.125%, Revhovenska Refinery 07/01/2022......... 267
-------
1,162
-------
POLLUTION CONTROL -- 3.0%
450 New York Environmental Fac Corp,
5.00%, 07/15/2026............................... 466
-------
PUBLIC FACILITIES -- 3.4%
500 Niagara Falls, NY,
5.00%, ISD Certificate Participation
06/15/2028...................................... 516
-------
TRANSPORTATION -- 3.0%
450 New York Metropolitan Transportation Auth,
5.125%, 11/15/2031.............................. 466
-------
UTILITIES - ELECTRIC -- 1.7%
250 New York Energy Research & DA,
5.30%, Elec Fac Rev Adj Long Island Lighting Co
Proj 08/01/2025................................. 256
-------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- -------
UTILITIES - WATER AND SEWER -- 2.9%
$ 450 Jefferson County, NY,
5.20%, IDA Waste Disposal 12/01/2020............ $ 446
-------
Total municipal bonds
(cost $14,505).................................. $14,759
-------
SHORT-TERM INVESTMENTS -- 4.0%
FINANCE -- 4.0%
617 Dreyfus Basic New York Municipal Money Market
Fund, current rate -- K 3.17%................... $ 617
-------
Total short-term investments
(cost $617)..................................... $ 617
-------
Total investments in securities
(cost $15,122) O................................ $15,376
=======
</Table>
Note: Percentage of investments as shown is the ratio of the total market value
to total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $15,122 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation............................ $293
Unrealized depreciation............................ (39)
----
Net unrealized appreciation........................ $254
====
</Table>
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
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.
210
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
MUNICIPAL BONDS -- 0.1%
GENERAL OBLIGATIONS -- 0.1%
$ 1,250 Oregon School Boards Association,
4.76%, Taxable Pension 06/30/2028............... $ 1,090
----------
Total municipal bonds
(cost $1,250)................................... $ 1,090
----------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 13.4%
FINANCE -- 12.4%
1,900 ACT Depositor Corp.,
5.49%, 09/22/2041 MK............................ $ 1,826
730 Americredit Automobile Receivables Trust,
4.48%, 11/06/2009............................... 720
1,672 Americredit Automobile Receivables Trust,
5.20%, 03/06/2011............................... 1,661
48,262 Banc of America Commercial Mortgage, Inc.,
4.08%, 12/10/2042 W............................. 1,029
20,280 Banc of America Commercial Mortgage, Inc.,
4.52%, 09/11/2036 MW............................ 859
800 Bank One Issuance Trust,
4.77%, 02/16/2016............................... 751
13,842 Bear Stearns Commercial Mortgage Securities, Inc.,
4.07%, 07/11/2042 W............................. 493
11,016 Bear Stearns Commercial Mortgage Securities, Inc.,
4.12%, 11/11/2041 W............................. 330
25,865 Bear Stearns Commercial Mortgage Securities, Inc.,
5.50%, 02/11/2041 MW............................ 583
250 California Infrastructure & Economic Development,
6.38%, 09/25/2008............................... 251
1,150 Capital One Auto Finance Trust,
4.32%, 05/15/2010............................... 1,124
3,200 Capital One Multi-Asset Execution Trust,
4.40%, 08/15/2011............................... 3,142
14,804 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 07/25/2035 MW............................ 726
10,650 CBA Commercial Small Balance Commercial Mortgage,
7.00%, 06/01/2036 MW............................ 700
1,430 Chase Credit Card Master Trust,
5.50%, 11/17/2008............................... 1,432
2,290 Citibank Credit Card Issuance Trust,
5.00%, 06/10/2015............................... 2,176
3,130 Citigroup Commercial Mortgage Trust,
5.25%, 04/15/2040............................... 3,091
1,300 CNH Equipment Trust,
4.02%, 04/15/2009............................... 1,283
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
FINANCE -- (CONTINUED)
$ 570 Connecticut RRB Special Purpose Trust CL&P,
6.21%, 12/30/2011............................... $ 586
396 Conseco Finance Securitizations Corp.,
5.79%, 05/01/2033............................... 396
299 Countrywide Asset-Backed Certificates,
5.46%, 05/25/2035............................... 291
418 CS First Boston Mortgage Securities Corp.,
2.08%, 05/15/2038............................... 403
42,850 CS First Boston Mortgage Securities Corp.,
4.39%, 07/01/2037 MW............................ 1,237
418 CS First Boston Mortgage Securities Corp.,
4.51%, 07/15/2037............................... 404
2,700 CS First Boston Mortgage Securities Corp.,
4.69%, 04/15/2037............................... 2,586
416 CS First Boston Mortgage Securities Corp.,
4.69%, 07/15/2037............................... 386
2,500 GE Capital Commercial Mortgage Corp.,
4.12%, 03/10/2040............................... 2,393
2,700 GE Capital Commercial Mortgage Corp.,
4.71%, 05/10/2043............................... 2,633
12,619 GMAC Commercial Mortgage Securities, Inc.,
4.10%, 12/10/2041 W............................. 315
30,232 Goldman Sachs Mortgage Securities Corp. II,
4.38%, 08/10/2038 MW............................ 369
1,650 Goldman Sachs Mortgage Securities Corp. II,
4.60%, 08/10/2038............................... 1,612
121 Green Tree Financial Corp.,
6.27%, 06/01/2030............................... 121
344 Green Tree Financial Corp.,
7.24%, 06/15/2028............................... 354
3,250 Greenwich Capital Commercial Mortgage Trust,
5.12%, 04/10/2037 K............................. 3,207
1,179 Home Equity Asset Trust,
4.75%, 06/27/2035 M............................. 1,162
620 Hyundai Auto Receivables Trust,
5.29%, 06/25/2014............................... 619
23,211 JP Morgan Chase Commercial Mortgage Securities
Corp.,
3.68%, 01/15/2038 MW............................ 822
56,651 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.07%, 01/15/2042 W............................. 959
103,214 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.82%, 08/12/2037 W............................. 485
</Table>
The accompanying notes are an integral part of these financial statements.
211
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,900 JP Morgan Chase Commercial Mortgage Securities
Corp.,
4.87%, 03/15/2046............................... $ 1,832
1,285 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.00%, 08/15/2042............................... 1,215
800 JP Morgan Chase Commercial Mortgage Securities
Corp.,
5.437%, 12/12/2044.............................. 799
1,240 LB-UBS Commercial Mortgage Trust,
2.72%, 03/15/2007............................... 1,200
1,631 LB-UBS Commercial Mortgage Trust,
3.34%, 09/15/2027............................... 1,577
1,967 LB-UBS Commercial Mortgage Trust,
4.74%, 02/15/2041............................... 1,841
3,000 LB-UBS Commercial Mortgage Trust,
4.80%, 12/15/2029............................... 2,826
1,264 Lehman Brothers Small Balance Commercial,
5.52%, 09/25/2030............................... 1,244
165 Long Beach Asset Holdings Corp.,
4.12%, 02/25/2035 M............................. 164
1,460 MBNA Credit Card Master Note Trust,
4.10%, 10/15/2012............................... 1,399
1,025 MBNA Credit Card Master Note Trust,
4.30%, 02/15/2011............................... 1,005
2,400 MBNA Credit Card Master Note Trust,
4.50%, 01/15/2013............................... 2,329
417 Merrill Lynch Mortgage Trust,
4.56%, 05/01/2043............................... 403
44,028 Merrill Lynch Mortgage Trust,
4.57%, 05/01/2043 W............................. 1,259
417 Merrill Lynch Mortgage Trust,
4.75%, 05/01/2043............................... 388
681 Morgan Stanley Auto Loan Trust,
5.00%, 03/15/2012 M............................. 674
12,535 Morgan Stanley Dean Witter Capital I,
0.00%, 08/25/2032 VW............................ --
2,795 Morgan Stanley Dean Witter Capital I,
5.23%, 09/15/2042............................... 2,695
395 Morgan Stanley Dean Witter Capital I,
5.61%, 03/12/2016 K............................. 391
1,175 Morgan Stanley Dean Witter Capital I,
7.65%, 04/30/2039 MK............................ 1,186
8,900 Morgan Stanley Dean Witter Capital I,
8.05%, 08/25/2032 VW............................ 161
1,225 Navistar Financial Corp. Owner Trust,
3.53%, 10/15/2012............................... 1,176
356 Park Place Securities, Inc.,
5.34%, 09/25/2034 K............................. 357
1,400 Peco Energy Transition Trust,
6.13%, 03/01/2009............................... 1,419
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
FINANCE -- (CONTINUED)
$ 650 Popular ABS Mortgage Pass-Through Trust,
4.75%, 12/25/2034............................... $ 613
540 Popular ABS Mortgage Pass-Through Trust,
5.42%, 04/25/2035............................... 523
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............................. 1,416
1,430 Providian Master Note Trust,
5.45%, 03/16/2015 K............................. 1,430
1,750 PSE&G Transition Funding LLC,
6.45%, 03/15/2013............................... 1,821
800 Renaissance Home Equity Loan Trust,
5.36%, 05/25/2035............................... 773
1,260 Renaissance Home Equity Loan Trust,
5.707%, 05/25/2036.............................. 1,248
550 Residential Asset Mortgage Products, Inc.,
4.98% , 08/25/2034.............................. 532
1,930 Small Business Administration Participation
Certificates,
5.57%, 03/01/2026............................... 1,914
1,930 Small Business Administration Participation
Certificates,
5.64%, 04/01/2026............................... 1,933
144 Soundview Home Equity Loan Trust, Inc.,
8.64%, 05/25/2030............................... 145
1,450 USAA Auto Owner Trust,
5.04%, 12/15/2011............................... 1,441
10,001 Wachovia Bank Commercial Mortgage Trust,
3.65%, 02/15/2041 MW............................ 327
43,791 Wachovia Bank Commercial Mortgage Trust,
4.48%, 05/15/2044 MW............................ 1,240
417 Wachovia Bank Commercial Mortgage Trust,
4.515%, 05/15/2044.............................. 402
1,375 Wachovia Bank Commercial Mortgage Trust,
4.72%, 01/15/2041............................... 1,331
2,650 Wachovia Bank Commercial Mortgage Trust,
5.42%, 01/15/2045............................... 2,639
3,660 Wachovia Bank Commercial Mortgage Trust,
5.52%, 01/15/2045............................... 3,579
----------
95,458
----------
TRANSPORTATION -- 0.1%
851 Continental Airlines, Inc.,
8.05%, 05/01/2022............................... 900
----------
</Table>
The accompanying notes are an integral part of these financial statements.
212
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
UTILITIES -- 0.9%
$ 805 Pacific Gas & Electric Energy Recovery Funding
LLC,
3.87%, 06/25/2011............................... $ 787
3,230 Pacific Gas & Electric Energy Recovery Funding
LLC,
5.03%, 03/25/2014............................... 3,192
3,050 Oncor Electric Delivery Transition Bond Co.,
4.03%, 02/15/2012............................... 2,964
----------
6,943
----------
Total asset & commercial mortgage backed
securities
(cost $105,853)................................. $ 103,301
----------
CORPORATE BONDS: INVESTMENT GRADE -- 26.6%
BASIC MATERIALS -- 1.3%
2,420 Falconbridge Ltd.,
7.25%, 07/15/2012............................... $ 2,560
491 Fortune Brands, Inc.,
5.125%, 01/15/2011.............................. 479
1,800 ICI Wilmington, Inc.,
4.375%, 12/01/2008.............................. 1,733
1,144 Lubrizol Corp.,
5.50%, 10/01/2014............................... 1,096
1,550 Teck Cominco Ltd.,
5.375%, 10/01/2015 H............................ 1,476
1,295 Vale Overseas Ltd.,
8.25%, 01/17/2034............................... 1,437
1,000 Westvaco Corp.,
7.95%, 02/15/2031 H............................. 1,077
----------
9,858
----------
CONSUMER CYCLICAL -- 1.6%
1,070 D.R. Horton, Inc.,
6.00%, 04/15/2011............................... 1,065
3,878 DaimlerChrysler NA Holdings Corp.,
5.875%, 03/15/2011.............................. 3,861
710 Foster's Finance Corp.,
4.875%, 10/01/2014 M............................ 648
1,875 Home Depot, Inc.,
5.40%, 03/01/2016............................... 1,826
1,825 J.C. Penney Co., Inc.,
7.95%, 04/01/2017 H............................. 2,049
1,335 Masco Corp.,
5.88%, 07/15/2012............................... 1,333
JPY 263,000 Tesco plc,
0.70%, 09/20/2006............................... 2,314
----------
13,096
----------
CONSUMER STAPLES -- 0.4%
2,237 Diageo Finance B.V.,
5.50%, 04/01/2013............................... 2,201
550 Weyerhaeuser Co.,
8.50%, 01/15/2025............................... 616
----------
2,817
----------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
ENERGY -- 2.1%
$ 400 Consumers Energy Co.,
5.15%, 02/15/2017............................... $ 368
1,095 Consumers Energy Co.,
5.375%, 04/15/2013.............................. 1,055
1,215 Enterprise Products Operating L.P.,
4.625%, 10/15/2009.............................. 1,174
1,700 Gazprom International S.A.,
7.20%, 02/01/2020 M............................. 1,774
985 Panhandle Eastern Pipeline,
2.75%, 03/15/2007............................... 962
990 Pemex Project Funding Master Trust,
5.75%, 12/15/2015 M............................. 939
540 Ras Laffan Liquefied Natural Gas Co., Ltd.,
3.44%, 09/15/2009 M............................. 521
2,875 Ras Laffan Liquefied Natural Gas Co., Ltd.,
5.30%, 09/30/2020 M............................. 2,707
EUR 1,420 Repsol International Finance,
4.625%, 10/08/2014.............................. 1,787
1,130 Schlumberger Ltd.,
2.125%, 06/01/2023.............................. 1,999
710 Sempra Energy,
6.00%, 02/01/2013 H............................. 711
770 Valero Energy Corp.,
7.50%, 04/15/2032............................... 863
380 Valero Energy Corp.,
8.75%, 06/15/2030............................... 466
685 XTO Energy, Inc.,
5.00%, 01/31/2015............................... 640
----------
15,966
----------
FINANCE -- 8.3%
1,385 Aegon N.V.,
5.75%, 12/15/2020............................... 1,340
1,400 AES El Salvador,
6.75%, 02/01/2016 M............................. 1,340
3,110 Amvescap plc,
4.50%, 12/15/2009............................... 2,990
915 Army Hawaii Family Housing,
5.52%, 06/15/2050 M............................. 847
1,600 AvalonBay Communities, Inc.,
8.25%, 07/15/2008............................... 1,690
1,735 BAE Systems Holdings, Inc.,
5.20%, 08/15/2015 M............................. 1,617
950 Banco Nacional De Mtn Be,
3.875%, 01/21/2009 M............................ 900
731 Bear Stearns & Co., Inc.,
5.30%, 10/30/2015............................... 698
80 Capital One Bank Corp.,
4.88%, 05/15/2008............................... 79
1,375 CIT Group, Inc.,
4.00%, 05/08/2008 H............................. 1,339
985 CIT Group, Inc.,
4.125%, 11/03/2009 H............................ 941
</Table>
The accompanying notes are an integral part of these financial statements.
213
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
FINANCE -- (CONTINUED)
$ 1,490 Credit Suisse First Boston USA, Inc.,
6.50%, 01/15/2012............................... $ 1,549
1,355 ERAC USA Finance Co.,
5.60%, 05/01/2015 M............................. 1,298
1,740 ERP Operating L.P.,
6.58%, 04/13/2015............................... 1,802
JPY 628,000 General Electric Capital Corp.,
1.40%, 11/02/2006............................... 5,549
MXP 16,310 General Electric Capital Corp.,
9.50%, 08/04/2010............................... 1,498
750 Humana, Inc.,
7.25%, 08/01/2006............................... 752
JPY 807,000 Inter-American Development Bank,
1.90%, 07/08/2009............................... 7,274
1,685 Lehman Brothers Holdings, Inc.,
5.50%, 04/04/2016............................... 1,628
2,100 Manufacturers & Traders Trust Co.,
4.92%, 06/20/2006 K............................. 2,100
1,830 Marsh & McLennan Cos., Inc.,
5.75%, 09/15/2015............................... 1,753
1,345 Merrill Lynch & Co.,
4.125%, 09/10/2009 H............................ 1,295
220 Metlife, Inc.,
5.38%, 12/15/2012............................... 216
1,490 Mizuho Financial Group, Inc.,
5.79%, 04/15/2014 M............................. 1,473
1,885 Morgan Stanley Dean Witter, Inc.,
4.75%, 04/01/2014............................... 1,743
2,032 MUFG Capital Finance I Ltd.,
6.346%, 07/25/2049.............................. 1,991
75 National Rural Utilities,
5.75%, 08/28/2009............................... 76
725 PNC Funding Corp.,
7.50%, 11/01/2009............................... 772
1,813 Residential Capital Corp.,
6.00%, 02/22/2011............................... 1,776
2,270 Residential Capital Corp.,
6.375%, 06/30/2010.............................. 2,260
3,570 Residential Capital Corp.,
6.875%, 06/30/2015.............................. 3,619
620 Resona Bank Ltd.,
5.85%, 12/31/2049 M............................. 592
200 Simon Property Group, Inc.,
6.35%, 08/28/2012............................... 206
1,820 Simon Property Group, Inc.,
7.875%, 03/15/2016 M............................ 2,025
250 Southern Investments UK plc,
6.80%, 12/01/2006............................... 252
1,500 St. Paul Travelers Cos., Inc.,
8.125%, 04/15/2010.............................. 1,624
1,308 Textron Financial Corp.,
5.875%, 06/01/2007.............................. 1,316
496 Travelers Property Casualty Corp.,
5.00%, 03/15/2013............................... 474
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
FINANCE -- (CONTINUED)
$ 1,370 TuranAlem Finance B.V.,
8.00%, 03/24/2014............................... $ 1,360
1,005 UnitedHealth Group, Inc.,
4.125%, 08/15/2009 H............................ 965
1,000 WellPoint, Inc.,
6.80%, 08/01/2012............................... 1,056
668 Woori Bank,
6.12%, 05/03/2016 MZ............................ 667
----------
64,742
----------
FOREIGN GOVERNMENTS -- 5.2%
EUR 4,930 Bundesobligation,
4.50%, 08/18/2006............................... 6,249
640 El Salvador (Republic of),
8.25%, 04/10/2032 MH............................ 688
1,670 Fondo LatinoAmericano De Reservas,
3.00%, 08/01/2006 M............................. 1,661
GBP 14,638 UK Treasury,
4.75%, 09/07/2015............................... 26,907
3,800 United Mexican States,
5.625%, 01/15/2017.............................. 3,637
555 United Mexican States,
5.875%, 01/15/2014.............................. 549
850 United Mexican States,
8.125%, 12/30/2019.............................. 982
----------
40,673
----------
HEALTH CARE -- 0.6%
2,439 Allergan, Inc.,
5.75%, 04/01/2016 M............................. 2,406
1,880 Cardinal Health, Inc.,
5.85%, 12/15/2017............................... 1,826
422 Manor Care, Inc.,
6.25%, 05/01/2013............................... 417
----------
4,649
----------
SERVICES -- 2.2%
1,370 American Greetings Corp.,
6.10%, 08/01/2028............................... 1,385
3,875 Cox Communications, Inc.,
5.50%, 10/01/2015............................... 3,626
400 Cox Communications, Inc.,
7.125%, 10/01/2012.............................. 420
435 Electronic Data Systems,
3.875%, 07/15/2023.............................. 452
775 FedEx Corp.,
3.50%, 04/01/2009............................... 736
1,170 Marriott International, Inc.,
5.81%, 11/10/2015 M............................. 1,136
813 Mashantucket Western Pequot Revenue Bond,
5.91%, 09/01/2021 M............................. 764
2,669 News America Holdings, Inc.,
7.70%, 10/30/2025 H............................. 2,859
2,405 News America, Inc.,
6.40%, 12/15/2035 M............................. 2,273
</Table>
The accompanying notes are an integral part of these financial statements.
214
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
CORPORATE BONDS: INVESTMENT GRADE -- (CONTINUED)
SERVICES -- (CONTINUED)
$ 1,060 Time Warner Cos., Inc.,
6.625%, 05/15/2029.............................. $ 1,027
1,164 Viacom, Inc.,
5.75%, 04/30/2011 M............................. 1,156
581 Viacom, Inc.,
6.875%, 04/30/2036 M............................ 573
665 Viacom, Inc.,
7.88%, 07/30/2030............................... 717
----------
17,124
----------
TECHNOLOGY -- 2.5%
2,050 AT&T, Inc.,
6.15%, 09/15/2034 H............................. 1,931
1,352 AT&T, Inc.,
9.75%, 11/15/2031............................... 1,602
685 Bellsouth Capital Funding,
7.88%, 02/15/2030............................... 774
215 British Sky Broadcasting Group plc,
8.20%, 07/15/2009............................... 231
2,850 Cingular Wireless Services, Inc.,
8.75%, 03/01/2031............................... 3,582
1,241 Cisco Systems, Inc.,
5.50%, 02/22/2016............................... 1,210
3,300 Nextel Communications,
5.95%, 03/15/2014............................... 3,245
805 Raytheon Co.,
4.50%, 11/15/2007............................... 794
1,055 Raytheon Co.,
6.55%, 03/15/2010 H............................. 1,087
655 Raytheon Co.,
8.30%, 03/01/2010............................... 714
685 TCI Communications, Inc.,
8.75%, 08/01/2015............................... 795
2,075 Tele-Communications, Inc.,
7.875%, 08/01/2013.............................. 2,271
685 Thomas & Betts Corp.,
7.25%, 06/01/2013............................... 718
----------
18,954
----------
TRANSPORTATION -- 0.4%
728 American Airlines, Inc.,
6.98%, 04/01/2011............................... 746
1,075 Continental Airlines, Inc.,
6.70%, 06/15/2021............................... 1,064
250 CSX Corp,
6.75%, 03/15/2011............................... 261
745 Royal Caribbean Cruises Ltd.,
7.50%, 10/15/2027............................... 761
----------
2,832
----------
UTILITIES -- 2.0%
500 Buckeye Partners L.P.,
5.30%, 10/15/2014............................... 475
1,314 Carolina Power & Light,
5.25%, 12/15/2015............................... 1,252
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
UTILITIES -- (CONTINUED)
$ 250 Centerior Energy Corp.,
7.13%, 07/01/2007............................... $ 255
1,050 Centerpoint Energy Resources Corp.,
7.875%, 04/01/2013.............................. 1,159
1,625 CenterPoint Energy, Inc.,
6.85%, 06/01/2015............................... 1,686
1,550 Commonwealth Edison,
5.90%, 03/15/2036............................... 1,440
565 Detroit Edison Co.,
6.125%, 10/01/2010.............................. 576
1,501 Dominion Resources, Inc.,
5.26%, 09/28/2007 K............................. 1,502
1,395 Duke Energy Corp.,
3.75%, 03/05/2008............................... 1,356
3,040 Kinder Morgan Energy Partners L.P.,
5.80%, 03/15/2035............................... 2,689
850 NorthWestern Corp.,
7.30%, 12/01/2006 M............................. 857
630 Puget Sound Energy, Inc.,
7.96%, 02/22/2010............................... 679
850 Texas-New Mexico Power Co.,
6.125%, 06/01/2008.............................. 856
250 Westar Energy, Inc.,
5.15%, 01/01/2017............................... 231
75 Westar Energy, Inc.,
6.00%, 07/01/2014............................... 75
----------
15,088
----------
Total corporate bonds: investment grade
(cost $209,344)................................. $ 205,799
----------
CORPORATE BONDS: NON-INVESTMENT -- 6.0%
BASIC MATERIALS -- 0.7%
1,360 Goodyear Tire & Rubber Co.,
11.25%, 03/01/2011.............................. $ 1,523
1,900 Potlatch Corp.,
12.50%, 12/01/2009.............................. 2,207
1,675 Vedanta Resources plc,
6.625%, 02/22/2010 M............................ 1,643
----------
5,373
----------
CAPITAL GOODS -- 0.5%
2,085 Bombardier, Inc.,
6.30%, 05/01/2014 M............................. 1,923
1,975 Level 3 Communications Corp.,
3.00%, 08/01/2035 H............................. 1,965
----------
3,888
----------
CONSUMER CYCLICAL -- 1.6%
1,975 Arvinmeritor, Inc.,
8.75%, 03/01/2012 H............................. 2,027
1,650 Delhaize America, Inc.,
9.00%, 04/15/2031............................... 1,883
2,020 General Motors Corp.,
6.375%, 05/01/2008 H............................ 1,722
1,575 K. Hovnanian Enterprises, Inc.,
6.375%, 12/15/2014 H............................ 1,466
</Table>
The accompanying notes are an integral part of these financial statements.
215
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- ----------- ----------
CORPORATE BONDS: NON-INVESTMENT -- (CONTINUED)
CONSUMER CYCLICAL -- (CONTINUED)
$ 1,520 Technical Olympic USA, Inc.,
8.25%, 04/01/2011 M............................. $ 1,514
1,400 Tenneco Automotive, Inc.,
8.625%, 11/15/2014 H............................ 1,418
1,625 TRW Automotive, Inc.,
9.375%, 02/15/2013.............................. 1,747
----------
11,777
----------
CONSUMER STAPLES -- 0.1%
800 Dole Food Co., Inc.,
8.625%, 05/01/2009.............................. 790
----------
ENERGY -- 0.3%
1,146 Chesapeake Energy Corp.,
2.75%, 11/15/2035 MH............................ 1,218
700 Naftogaz Ukrainy,
8.125%, 09/30/2009.............................. 682
615 Sibneft,
11.50%, 02/13/2007.............................. 639
----------
2,539
----------
FINANCE -- 0.3%
2,800 General Motors Acceptance Corp.,
6.875%, 09/15/2011.............................. 2,623
----------
HEALTH CARE -- 0.2%
1,910 HCA, Inc.,
6.50%, 02/15/2016............................... 1,837
----------
SERVICES -- 0.6%
3,080 Dex Media West LLC, Inc.,
9.875%, 08/15/2013.............................. 3,392
920 Liberty Media Corp.,
8.25%, 02/01/2030 H............................. 882
545 Shaw Communications, Inc.,
8.25%, 04/11/2010............................... 576
----------
4,850
----------
TECHNOLOGY -- 1.1%
1,115 Advanced Micro Devices, Inc.,
7.75%, 11/01/2012 H............................. 1,168
1,870 Citizens Communications Co.,
9.00%, 08/15/2031............................... 2,006
1,300 Intelsat Bermuda Ltd.,
9.61%, 01/15/2012 K............................. 1,320
535 Intelsat Ltd.,
6.50%, 11/01/2013............................... 420
1,750 Qwest Communications International,
7.50%, 02/15/2014 H............................. 1,763
1,555 Qwest Corp.,
7.50%, 06/15/2023............................... 1,543
----------
8,220
----------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
UTILITIES -- 0.6%
$ 1,049 Elwood Energy LLC,
8.16%, 07/02/2026............................... $ 1,115
270 Sierra Pacific Power Co.,
8.00%, 06/01/2008............................... 281
890 Sierra Pacific Resources,
6.75%, 08/15/2017............................... 879
1,935 Sithe/Independence Funding Corp.,
9.00%, 12/30/2013............................... 2,103
----------
4,378
----------
Total corporate bonds: non-investment
(cost $46,423).................................. $ 46,275
----------
U.S. GOVERNMENT SECURITIES -- 16.6%
OTHER DIRECT FEDERAL OBLIGATIONS -- 0.3%
8,800 Tennessee Valley Authority,
4.75%, 11/01/2025 Z............................. $ 2,086
175 Federal Home Loan Bank,
5.00%, 02/29/2008............................... 174
250 Federal Home Loan Bank,
7.51%, 02/20/2007 K............................. 254
----------
2,514
----------
U.S. TREASURY SECURITIES -- 16.3%
14,080 2.50% 2006 H...................................... 13,912
2,155 4.375% 2010 H..................................... 2,107
79,795 4.50% 2009/2016 H................................. 77,984
19,525 4.75% 2011 H...................................... 19,371
1,035 5.375% 2031 H..................................... 1,051
7,016 5.50% 2028 H...................................... 7,192
3,790 6.875% 2025 H..................................... 4,497
----------
126,114
----------
Total U.S. government securities
(cost $130,011)................................. $ 128,628
----------
U.S. GOVERNMENT AGENCIES -- 30.8%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 10.8%
3,800 4.10% 2014........................................ $ 3,649
13,118 4.50% 2018........................................ 12,508
3,259 5.04% 2035........................................ 3,199
48,104 5.50% 2021 -- 2036 Q.............................. 46,927
16,993 6.00% 2032 -- 2035................................ 16,958
----------
83,241
----------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 16.3%
JPY 890,000 1.75% 2008........................................ 7,976
9,442 4.50% 2035........................................ 8,648
818 4.701% 2034....................................... 798
1,983 4.72% 2035........................................ 1,928
1,026 4.73% 2035........................................ 998
670 4.76% 2035........................................ 652
1,770 4.81% 2035........................................ 1,722
1,268 4.88% 2035........................................ 1,237
887 4.92% 2035........................................ 867
2,099 4.941% 2035....................................... 2,052
6,175 5.00% 2009........................................ 6,133
</Table>
The accompanying notes are an integral part of these financial statements.
216
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT D VALUE U
- ----------- ----------
U.S. GOVERNMENT AGENCIES -- (CONTINUED)
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- (CONTINUED)
$ 40,212 5.00% 2018 -- 2036 Q.............................. $ 38,822
1,379 5.091% 2035....................................... 1,349
37,896 5.50% 2017 -- 2033 Q.............................. 37,358
14,175 6.00% 2013 -- 2036 Q.............................. 14,150
1,462 6.50% 2031 -- 2036 Q.............................. 1,487
531 7.50% 2029 -- 2031................................ 554
----------
126,731
----------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 3.7%
6,038 5.50% 2033 -- 2035................................ 5,930
17,859 6.00% 2032 -- 2036 Q.............................. 17,878
4,439 6.50% 2028 -- 2032................................ 4,576
----------
28,384
----------
Total U.S. government agencies
(cost $241,963)................................. $ 238,356
----------
Total long-term investments
(cost $734,844)................................. $ 723,449
----------
SHORT-TERM INVESTMENTS -- 37.8%
REPURCHASE AGREEMENTS -- 20.1%
52,043 BNP Paribas Repurchase Agreement,
4.67%, 05/01/2006............................... $ 52,043
48,325 RBS Greenwich Repurchase Agreement,
4.65%, 05/01/2006............................... 48,325
55,287 UBS Warburg Securities, Inc. Repurchase Agreement,
4.68%, 05/01/2006............................... 55,287
----------
155,655
----------
<Caption>
SHARES
- -----------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 17.4%
134,393 Navigator Prime Portfolio......................... 134,393
----------
<Caption>
PRINCIPAL
AMOUNT
- -----------
U.S. TREASURY BILLS -- 0.3%
$ 2,000 US Treasury Bill,
4.53%, 06/15/2006 Z............................. 1,989
----------
Total short-term investments
(cost $292,037)................................. $ 292,037
----------
Total investments in securities
(cost $1,026,881) O............................. $1,015,486
==========
</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 11.11% of total net assets at April 30, 2006.
U All principal amounts are in U.S. dollars unless otherwise indicated.
<Table>
EUR -- EURO
GBP -- British Pound
JPY -- Japanese Yen
MXP -- Mexican Peso
</Table>
O At April 30, 2006, the cost of securities for federal income tax
purposes was $1,028,123 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation........................ $ 1,912
Unrealized depreciation........................ (14,549)
--------
Net unrealized depreciation.................... $(12,637)
========
</Table>
H Security is partially on loan at April 30, 2006.
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 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
-------- ---------- -------- -----
04/2005- 8,900 Morgan Stanley Dean Witter
10/2005 Capital I, 8.05%,
08/25/2032 -- Reg D $148
04/2005- 12,535 Morgan Stanley Dean Witter
10/2006 Capital I, 0.475%,
08/25/2032 -- 144A --
</Table>
The aggregate value of these securities at April 30, 2006 was $161,
which represents 0.02% 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 April 30, 2006, was $49,545, which represents 6.41% of total net assets.
K Variable rate securities; the rate reported is the coupon rate in
effect at April 30, 2006.
Z The interest rate disclosed for these securities represents the
effective yield on the date of acquisition.
W The interest rates disclosed for interest only strips represent
effective yields based upon estimated future cash flows at April 30, 2006.
Q The cost of securities purchased on a when-issued basis at April 30,
2006 was $108,537.
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.
217
THE HARTFORD TOTAL RETURN BOND FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AT APRIL 30, 2006
<Table>
<Caption>
UNREALIZED
MARKET CONTRACT DELIVERY APPRECIATION
DESCRIPTION TRANSACTION VALUE AMOUNT DATE (DEPRECIATION)
- ----------- ----------- ------- -------- -------- --------------
British Sterling Pound Sell $36,506 $34,755 07/06/2006 $(1,751)
British Sterling Pound Buy 7,914 7,498 07/06/2006 416
Euro Sell 14,722 14,209 05/03/2006 (513)
Euro Buy 14,722 14,318 05/03/2006 404
Japanese Yen Sell 7,066 7,050 05/16/2006 (16)
Mexican Peso Sell 1,502 1,501 05/31/2006 (1)
-------
$(1,461)
=======
</Table>
The accompanying notes are an integral part of these financial statements.
218
THE HARTFORD U.S. GOVERNMENT SECURITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES -- 6.0%
FINANCE -- 6.0%
$ 3,000 CS First Boston Mortgage Securities Corp.,
4.83%, 11/15/2037............................... $ 2,823
3,000 GMAC Commercial Mortgage Securities, Inc.,
4.86%, 12/10/2041............................... 2,830
2,000 LB UBS Commercial Mortgage Trust,
4.74%, 02/15/2041............................... 1,872
3,000 Merrill Lynch Mortgage Trust,
4.75%, 05/01/2043............................... 2,794
1,997 Spirit Master Funding LLC,
5.76%, 03/20/2021 M............................. 1,965
--------
Total asset & commercial mortgage backed
securities
(cost $13,098).................................. $ 12,284
--------
U.S. GOVERNMENT SECURITIES -- 22.1%
OTHER DIRECT FEDERAL OBLIGATIONS -- 7.6%
FEDERAL HOME LOAN BANK
7,860 4.50% 2010........................................ $ 7,615
7,750 5.75% 2012 H...................................... 7,932
--------
15,547
--------
U.S. TREASURY SECURITIES -- 14.5%
U.S. TREASURY BONDS
6,000 5.25% 2028........................................ 5,958
1,000 5.375% 2031....................................... 1,015
--------
6,973
--------
U.S. TREASURY NOTES
3,200 3.875% 2009 J..................................... 4,070
11,800 4.375% 2010 H..................................... 11,536
4,000 4.50% 2016........................................ 3,826
3,000 5.00% 2011........................................ 3,012
--------
22,444
--------
Total U.S. government securities
(cost $46,202).................................. $ 44,964
--------
U.S. GOVERNMENT AGENCIES -- 71.2%
FEDERAL HOME LOAN MORTGAGE CORPORATION -- 22.8%
MORTGAGE BACKED SECURITIES:
3,306 5.50% 2032........................................ $ 3,221
1,369 6.00% 2032........................................ 1,367
76 7.00% 2029 -- 2031................................ 78
110 9.00% 2022........................................ 119
71 11.50% 2015 -- 2019............................... 77
70 11.75% 2010 -- 2011............................... 76
16 12.50% 2019....................................... 17
--------
4,955
--------
NOTES:
3,000 5.125% 2011....................................... 2,979
9,292 6.00% 2017........................................ 9,392
--------
12,371
--------
</Table>
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
REMIC -- PAC'S:
$ 8,000 6.00% 2032........................................ $ 7,933
--------
REMIC -- Z BONDS:
20,751 6.50% 2032 C...................................... 21,166
--------
46,425
--------
FEDERAL NATIONAL MORTGAGE ASSOCIATION -- 45.6%
MORTGAGE BACKED SECURITIES:
12,244 5.494% 2036....................................... 12,100
10,174 5.50% 2015 -- 2032................................ 9,924
2,184 5.85% 2009........................................ 2,192
2,719 5.89% 2008........................................ 2,732
23,144 6.00% 2016 -- 2035................................ 23,079
1,313 6.01% 2009........................................ 1,323
1,042 6.36% 2008........................................ 1,052
978 6.50% 2013 -- 2015................................ 1,001
5,465 6.52% 2008........................................ 5,514
130 7.50% 2030........................................ 135
25 8.00% 2025........................................ 27
50 8.50% 2022........................................ 54
41 9.00% 2020........................................ 45
24 9.75% 2020........................................ 26
164 10.00% 2020....................................... 180
40 10.50% 2012 -- 2018............................... 44
11 10.75% 2013....................................... 11
191 11.00% 2015 -- 2020............................... 208
40 11.25% 2013....................................... 42
9 11.50% 2015....................................... 10
21 12.00% 2014....................................... 23
70 12.50% 2015....................................... 77
--------
59,799
--------
NOTES:
9,000 4.20% 2008........................................ 8,819
10,500 6.25% 2029........................................ 11,422
--------
20,241
--------
REMIC -- PAC'S:
11,331 6.00% 2016........................................ 11,441
1,473 6.50% 2012........................................ 1,496
--------
12,937
--------
92,977
--------
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION -- 2.8%
MORTGAGE BACKED SECURITIES:
512 6.00% 2034........................................ 512
4,418 6.50% 2031 -- 2032................................ 4,552
57 7.00% 2030........................................ 58
120 8.00% 2022........................................ 128
447 9.50% 2016 -- 2019................................ 487
35 11.00% 2015 -- 2018............................... 38
--------
5,775
--------
Total U.S. government agencies
(cost $147,748)................................. $145,177
--------
Total long-term investments
(cost $207,048)................................. $202,425
--------
</Table>
The accompanying notes are an integral part of these financial statements.
219
THE HARTFORD U.S. GOVERNMENT SECURITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 8.6%
REPURCHASE AGREEMENTS -- 0.0%
$ 5 BNP Paribas Repurchase Agreement,
4.67%, 05/01/2006............................... $ 5
5 RBS Greenwich Repurchase Agreement,
4.65%, 05/01/2006............................... 5
5 UBS Warburg Securities, Inc. Repurchase Agreement,
4.68%, 05/01/2006............................... 5
--------
15
--------
<Caption>
SHARES
- ---------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 8.6%
17,585 BNY Institutional Cash Reserve Fund............... 17,585
--------
Total short-term investments
(cost $17,600).................................. $ 17,600
--------
Total investments in securities
(cost $224,648) O............................... $220,025
========
</Table>
O At April 30, 2006, the cost of securities for federal income tax
purposes was $224,648 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $ 563
Unrealized depreciation......................... (5,186)
-------
Net unrealized depreciation..................... $(4,623)
=======
</Table>
H Security is partially on loan at April 30, 2006.
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 April 30, 2006, was $1,965, which represents 1.0% of total net assets.
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.
C 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.
220
THE HARTFORD VALUE FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 96.6%
BASIC MATERIALS -- 6.5%
69 Alcoa, Inc. ...................................... $ 2,314
35 Cameco Corp. ..................................... 1,411
37 Dow Chemical Co. ................................. 1,482
44 DuPont (E.I.) de Nemours & Co. ................... 1,932
19 Kimberly-Clark Corp. ............................. 1,135
16 Precision Castparts Corp. ........................ 995
--------
9,269
--------
CAPITAL GOODS -- 7.3%
32 American Standard Cos., Inc. ..................... 1,402
65 Applied Materials, Inc. .......................... 1,161
50 Caterpillar, Inc. ................................ 3,817
31 Goodrich Corp. ................................... 1,393
37 Pitney Bowes, Inc. ............................... 1,544
16 Rockwell Automation, Inc. ........................ 1,138
--------
10,455
--------
CONSUMER CYCLICAL -- 3.8%
17 Federated Department Stores, Inc. ................ 1,316
36 McDonald's Corp. ................................. 1,258
19 NIKE, Inc. Class B................................ 1,571
51 Safeway, Inc. .................................... 1,272
--------
5,417
--------
CONSUMER STAPLES -- 4.4%
42 Campbell Soup Co. ................................ 1,340
45 Kellogg Co. ...................................... 2,065
49 PepsiCo, Inc. .................................... 2,830
--------
6,235
--------
ENERGY -- 10.1%
49 ConocoPhillips.................................... 3,258
90 Exxon Mobil Corp. ................................ 5,652
30 GlobalSantaFe Corp. .............................. 1,861
36 Occidental Petroleum Corp. ....................... 3,678
--------
14,449
--------
FINANCE -- 30.3%
29 ACE Ltd. ......................................... 1,594
37 Aetna, Inc. ...................................... 1,421
24 Allstate Corp. ................................... 1,356
52 American International Group, Inc. ............... 3,360
113 Bank of America Corp. ............................ 5,631
42 Chubb Corp. ...................................... 2,175
107 Citigroup, Inc. .................................. 5,340
39 Golden West Financial Corp. ...................... 2,774
22 Goldman Sachs Group, Inc. ........................ 3,526
113 Host Hotels & Resorts, Inc. ...................... 2,372
43 JP Morgan Chase & Co. ............................ 1,929
11 Merrill Lynch & Co., Inc. ........................ 801
41 National City Corp. .............................. 1,509
14 PNC Financial Services Group, Inc. ............... 1,015
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
15 SunTrust Banks, Inc. ............................. $ 1,191
52 US Bancorp........................................ 1,629
11 Washington Mutual, Inc. .......................... 502
46 Wellpoint, Inc. B................................. 3,238
27 Wells Fargo & Co. ................................ 1,848
--------
43,211
--------
HEALTH CARE -- 8.3%
32 Abbott Laboratories............................... 1,346
46 Baxter International, Inc. ....................... 1,742
139 CVS Corp. ........................................ 4,143
64 Pfizer, Inc. ..................................... 1,617
60 Wyeth............................................. 2,906
--------
11,754
--------
SERVICES -- 4.0%
48 Comcast Corp. Class A B........................... 1,495
283 Sun Microsystems, Inc. B.......................... 1,414
85 Time Warner, Inc. ................................ 1,479
17 United Parcel Service, Inc. Class B............... 1,386
--------
5,774
--------
TECHNOLOGY -- 12.2%
122 AT&T, Inc. ....................................... 3,186
18 Beckman Coulter, Inc. ............................ 924
123 BellSouth Corp. .................................. 4,155
93 EMC Corp. B....................................... 1,250
75 General Electric Co. ............................. 2,608
24 Lockheed Martin Corp. ............................ 1,784
74 Motorola, Inc. ................................... 1,573
78 Sprint Nextel Corp. .............................. 1,924
--------
17,404
--------
TRANSPORTATION -- 3.9%
15 AMR Corp. B....................................... 370
46 General Dynamics Corp. ........................... 3,019
132 Southwest Airlines Co. ........................... 2,144
--------
5,533
--------
UTILITIES -- 5.8%
23 Dominion Resources, Inc. ......................... 1,718
8 Entergy Corp. .................................... 560
33 Exelon Corp. ..................................... 1,804
27 FPL Group, Inc. .................................. 1,061
43 PPL Corp. ........................................ 1,255
29 SCANA Corp. ...................................... 1,139
15 TXU Corp. ........................................ 739
--------
8,276
--------
Total common stock
(cost $117,813)................................. $137,777
--------
</Table>
The accompanying notes are an integral part of these financial statements.
221
THE HARTFORD VALUE FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
PRINCIPAL MARKET
AMOUNT VALUE U
- --------- --------
SHORT-TERM INVESTMENTS -- 3.3%
REPURCHASE AGREEMENTS -- 3.3%
$ 802 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 802
531 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 531
813 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 813
328 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 328
734 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 734
120 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 120
1,310 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,310
--------
Total short-term investments
(cost $4,638)................................... $ 4,638
--------
Total investments in securities
(cost $122,451) O............................... $142,415
========
</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 0.99% of total net assets at April 30, 2006.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $122,605 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $20,664
Unrealized depreciation......................... (854)
-------
Net unrealized appreciation..................... $19,810
=======
</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.
222
THE HARTFORD VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- 98.0%
BASIC MATERIALS -- 8.8%
227 Alcoa, Inc. ...................................... $ 7,655
24 Alliant Techsystems, Inc. B....................... 1,952
79 Chemtura Corp. ................................... 965
32 Cytec Industries, Inc. ........................... 1,953
39 DuPont (E.I.) de Nemours & Co. ................... 1,698
4 Engelhard Corp. .................................. 154
91 Michelin (C.G.D.E.) Class B D..................... 6,533
80 Smurfit-Stone Container Corp. B................... 1,039
41 Temple-Inland, Inc. .............................. 1,904
--------
23,853
--------
CAPITAL GOODS -- 5.1%
29 Black & Decker Corp. ............................. 2,677
128 Goodrich Corp. ................................... 5,714
27 Kennametal, Inc. ................................. 1,689
12 Lam Research Corp. B.............................. 582
14 Parker-Hannifin Corp. ............................ 1,167
60 Varian Semiconductor Equipment Associates,
Inc. BH......................................... 1,950
--------
13,779
--------
CONSUMER CYCLICAL -- 8.7%
143 American Axle & Manufacturing Holdings, Inc. H.... 2,518
36 CBRL Group, Inc. ................................. 1,457
286 Foot Locker, Inc. ................................ 6,624
87 Lear Corp. H...................................... 2,061
61 Newell Rubbermaid, Inc. .......................... 1,662
185 Ruby Tuesday, Inc. H.............................. 5,513
107 TRW Automotive Holdings Corp. B................... 2,369
24 Walter Industries................................. 1,605
--------
23,809
--------
ENERGY -- 10.2%
90 Exxon Mobil Corp. ................................ 5,696
32 GlobalSantaFe Corp. .............................. 1,946
31 Marathon Oil Corp. ............................... 2,476
37 Noble Corp. ...................................... 2,905
63 Noble Energy, Inc. ............................... 2,852
50 Talisman Energy, Inc. ADR......................... 2,841
47 Total S.A. ADR.................................... 6,459
117 UGI Corp. ........................................ 2,621
--------
27,796
--------
FINANCE -- 26.5%
135 ACE Ltd. ......................................... 7,476
53 Aetna, Inc. ...................................... 2,021
49 Allstate Corp. ................................... 2,740
30 AMBAC Financial Group, Inc. ...................... 2,438
45 American International Group, Inc. ............... 2,956
315 Apollo Investment Corp. .......................... 5,882
281 Bank of America Corp. ............................ 14,019
60 Capital One Financial Corp. ...................... 5,198
34 CIT Group, Inc. .................................. 1,826
194 Citigroup, Inc. .................................. 9,679
34 Everest Re Group Ltd. ............................ 3,103
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
FINANCE -- (CONTINUED)
40 Federal Home Loan Mortgage Corp. ................. $ 2,442
24 Golden West Financial Corp. ...................... 1,746
102 KKR Financial Corp. .............................. 2,192
95 Platinum Underwriters Holdings Ltd. .............. 2,619
119 Royal Bank of Scotland Group plc D................ 3,869
17 UBS AG............................................ 1,951
--------
72,157
--------
HEALTH CARE -- 9.2%
117 Boston Scientific Corp. B......................... 2,728
13 Cooper Companies, Inc. ........................... 729
103 Endo Pharmaceuticals Holdings, Inc. B............. 3,230
84 GlaxoSmithKline plc D............................. 2,425
43 GlaxoSmithKline plc ADR........................... 2,440
132 Impax Laboratories, Inc. B........................ 1,222
14 Lilly (Eli) & Co. ................................ 762
18 Sanofi-Aventis S.A. D............................. 1,736
104 Sanofi-Aventis S.A. ADR........................... 4,883
100 Wyeth............................................. 4,872
--------
25,027
--------
SERVICES -- 7.1%
61 Comcast Corp. Class A B........................... 1,885
169 Comcast Corp. Special Class A B................... 5,223
55 Entercom Communications Corp. .................... 1,448
36 Liberty Global, Inc. B............................ 742
40 R.H. Donnelley Corp. B............................ 2,256
103 Time Warner, Inc. ................................ 1,797
382 Unisys Corp. B.................................... 2,386
81 US Airways Group, Inc. B.......................... 3,483
--------
19,220
--------
TECHNOLOGY -- 19.0%
76 Arrow Electronics, Inc. B......................... 2,744
253 Cinram International, Inc. ....................... 6,595
501 Cisco Systems, Inc. B............................. 10,488
85 Fairchild Semiconductor International, Inc. B..... 1,765
169 Flextronics International Ltd. B.................. 1,915
47 Liberty Global, Inc. Class C B.................... 933
55 MEMC Electronic Materials, Inc. B................. 2,225
124 Microsoft Corp. .................................. 3,004
36 NCR Corp. B....................................... 1,399
94 Powerwave Technologies, Inc. B.................... 1,049
28 QLogic Corp. B.................................... 576
111 Reynolds & Reynolds Co. Class A................... 3,310
54 Seagate Technology................................ 1,440
125 Sprint Nextel Corp. .............................. 3,108
82 Tektronix, Inc. .................................. 2,907
39 Telefonaktiebolaget LM Ericsson ADR............... 1,366
146 Tyco International Ltd. .......................... 3,839
68 Verizon Communications, Inc. ..................... 2,256
51 Vishay Intertechnology, Inc. B.................... 790
--------
51,709
--------
TRANSPORTATION -- 3.1%
45 AirTran Holdings, Inc. B.......................... 626
68 AMR Corp. BH...................................... 1,671
</Table>
The accompanying notes are an integral part of these financial statements.
223
THE HARTFORD VALUE OPPORTUNITIES FUND
SCHEDULE OF INVESTMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
COMMON STOCK -- (CONTINUED)
TRANSPORTATION -- (CONTINUED)
92 Continental Airlines, Inc. BH..................... $ 2,403
5 Pinnacle Airlines Corp. B......................... 33
91 Yellow Roadway Corp. B............................ 3,805
--------
8,538
--------
UTILITIES -- 0.3%
30 PPL Corp. ........................................ 880
--------
Total common stock
(cost $233,230)................................. $266,768
--------
SHORT-TERM INVESTMENTS -- 6.1%
REPURCHASE AGREEMENTS -- 1.7%
817 Bank of America Securities Joint Repurchase
Agreement,
4.78%, 05/01/2006............................... $ 817
540 Credit Suisse First Boston TriParty Joint
Repurchase Agreement,
4.79%, 05/01/2006............................... 540
828 Deutsche Bank TriParty Joint Repurchase Agreement,
4.79%, 05/01/2006............................... 828
333 JP Morgan Chase TriParty Joint Repurchase
Agreement,
4.76%, 05/01/2006............................... 333
748 Morgan Stanley & Co., Inc. TriParty Joint
Repurchase Agreement,
4.78%, 05/01/2006............................... 748
123 UBS Securities LLC Deliverable Repurchase
Agreement,
4.70%, 05/01/2006............................... 123
1,334 UBS Securities LLC TriParty Joint Repurchase
Agreement,
4.77%, 05/01/2006............................... 1,334
--------
4,723
--------
</Table>
<Table>
<Caption>
MARKET
SHARES VALUE U
- --------- --------
SECURITIES PURCHASED WITH PROCEEDS FROM SECURITY
LENDING -- 4.4%
12,016 BNY Institutional Cash Reserve Fund............... $ 12,016
--------
Total short-term investments
(cost $16,739).................................. $ 16,739
--------
Total investments in securities
(cost $249,969) O............................... $283,507
========
</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 15.09% of total net assets at April 30, 2006.
D The aggregate value of securities valued in good faith at fair value
by, or under the direction of, the Funds' Board of Directors at April 30,
2006, was $14,563, which represents 5.35% of total net assets.
O At April 30, 2006, the cost of securities for federal income tax
purposes was $250,056 and the aggregate gross unrealized appreciation and
depreciation based on that cost were:
<Table>
Unrealized appreciation......................... $37,703
Unrealized depreciation......................... (4,252)
-------
Net unrealized appreciation..................... $33,451
=======
</Table>
B Currently non-income producing.
H Security is partially on loan at April 30, 2006.
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.
224
(This page intentionally left blank)
225
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES
APRIL 30, 2006 (UNAUDITED) (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
AGGRESSIVE
ADVISERS GROWTH ALLOCATION
FUND FUND*
------------- -----------------
ASSETS
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 2,117,003 $ 172,422
Cash(+).................................................... -- --
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation in forward foreign currency
contracts................................................ 1 --
Receivables:
Investment securities sold............................... 9,789 --
Fund shares sold......................................... 477 1,110
Dividends and interest................................... 7,947 --
Variation margin......................................... -- --
Other assets............................................... 247 152
------------- -------------
Total assets................................................ 2,135,464 173,684
------------- -------------
LIABILITIES
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars(+).......................... 1,005 --
Bank overdraft -- foreign cash............................. -- --
Payable upon return of securities loaned (Note 2d)......... 275,732 --
Payables:
Investment securities purchased.......................... 10,417 --
Fund shares redeemed..................................... 2,534 170
Investment advisory and management fees (Note 3)......... 188 6
Dividends................................................ -- --
Distribution fees (Note 3)............................... 154 16
Variation margin......................................... -- --
Accrued expenses........................................... 602 37
Written options............................................ -- --
------------- -------------
Total liabilities........................................... 290,632 229
------------- -------------
Net assets.................................................. $ 1,844,832 $ 173,455
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 1,809,410 $ 149,292
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... 4,411 92
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (47,789) 4,550
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 78,800 19,521
------------- -------------
Net assets.................................................. $ 1,844,832 $ 173,455
============= =============
Shares authorized........................................... 760,000 300,000
------------- -------------
Par value................................................... 0.001 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share.......................................... $16.28/$17.23 $13.14/$13.90
------------- -------------
Shares outstanding................................... 72,900 7,448
------------- -------------
Net assets........................................... $ 1,187,183 $ 97,860
------------- -------------
CLASS B: Net asset value per share.......................... $ 16.12 $ 13.07
------------- -------------
Shares outstanding.................................. 24,800 2,309
------------- -------------
Net assets.......................................... $ 399,779 $ 30,180
------------- -------------
CLASS C: Net asset value per share.......................... $ 16.28 $ 13.07
------------- -------------
Shares outstanding................................... 14,793 3,476
------------- -------------
Net assets........................................... $ 240,790 $ 45,415
------------- -------------
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.......................... $ 16.45 $ --
------------- -------------
Shares outstanding................................... 1,038 --
------------- -------------
Net assets........................................... $ 17,080 $ --
------------- -------------
CLASS Z: Net asset value per share.......................... $ -- $ --
------------- -------------
Shares outstanding................................... -- --
------------- -------------
Net assets........................................... $ -- $ --
------------- -------------
@ Cost of securities........................................ $ 2,038,207 $ 152,901
------------- -------------
@ Market value of securities on loan........................ $ 266,240 $ --
------------- -------------
(+) Cash held as collateral on loaned securities............ $ 13 $ --
------------- -------------
# Cost of foreign currency on deposit with custodian........ $ -- $ --
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
226
- --------------------------------------------------------------------------------
<Table>
<Caption>
BALANCED CAPITAL CAPITAL CONSERVATIVE DISCIPLINED DIVIDEND EQUITY FLOATING
ALLOCATION APPRECIATION APPRECIATION II ALLOCATION EQUITY AND GROWTH INCOME RATE
FUND* FUND FUND FUND* FUND FUND FUND FUND
------------- ------------- --------------- ------------- ------------- ------------- ------------- -------------
$ 611,022 $ 13,920,738 $ 220,689 $ 137,726 $ 427,691 $ 3,168,608 $ 539,832 $ 1,174,209
-- 16,315 2,740 -- 778 1,046 141 13,199
-- 3,723 24 -- -- -- -- --
-- -- 5 -- -- -- -- --
-- 71,157 3,072 -- 14,829 17,244 1,412 1,806
4,861 37,828 4,635 587 64 3,415 593 30,964
39 18,665 209 9 472 4,697 958 7,300
-- -- -- -- -- -- -- --
178 1,292 166 82 85 284 90 292
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
616,100 14,069,718 231,540 138,404 443,919 3,195,294 543,026 1,227,770
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- 1 -- -- -- -- -- --
-- -- -- -- -- -- -- --
-- -- -- -- -- -- -- --
-- 838,730 -- -- -- 1,853 -- --
-- 275,014 6,785 -- 18,057 14,709 3,590 114,034
381 5,434 138 236 260 2,154 174 3,846
19 1,397 36 5 56 329 70 111
-- -- -- -- -- -- -- --
55 1,059 18 13 20 206 33 87
-- -- -- -- -- -- -- --
66 2,494 84 16 93 684 95 64
-- 2,529 -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
521 1,126,658 7,061 270 18,486 19,935 3,962 118,142
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 615,579 $ 12,943,060 $ 224,479 $ 138,134 $ 425,433 $ 3,175,359 $ 539,064 $ 1,109,628
============= ============= ============= ============= ============= ============= ============= =============
$ 557,410 $ 10,044,479 $ 200,088 $ 130,553 $ 445,788 $ 2,536,081 $ 462,061 $ 1,107,145
432 21,414 (227) 197 527 3,186 868 (585)
16,559 830,733 5,730 3,237 (68,993) 94,321 14,373 43
41,178 2,046,434 18,888 4,147 48,111 541,771 61,762 3,025
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 615,579 $ 12,943,060 $ 224,479 $ 138,134 $ 425,433 $ 3,175,359 $ 539,064 $ 1,109,628
============= ============= ============= ============= ============= ============= ============= =============
300,000 620,000 800,000 300,000 300,000 500,000 300,000 800,000
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$11.89/$12.58 $38.75/$41.01 $13.01/$13.77 $10.99/$11.63 $12.71/$13.45 $20.25/$21.43 $13.24/$14.01 $10.15/$10.46
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
31,610 211,377 11,519 7,300 15,907 118,259 33,724 68,275
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 375,867 $ 8,191,287 $ 149,896 $ 80,232 $ 202,193 $ 2,394,834 $ 446,339 $ 693,043
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 11.86 $ 35.56 $ 12.92 $ 10.99 $ 12.12 $ 19.96 $ 13.21 $ 10.14
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
8,136 52,170 1,392 1,633 3,217 17,953 2,835 1,890
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 96,529 $ 1,855,176 $ 17,982 $ 17,937 $ 38,980 $ 358,402 $ 37,433 $ 19,170
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 11.86 $ 35.70 $ 12.93 $ 10.98 $ 12.13 $ 19.93 $ 13.22 $ 10.14
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
12,072 71,500 4,347 3,638 2,655 14,910 4,091 34,293
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 143,183 $ 2,552,217 $ 56,204 $ 39,965 $ 32,204 $ 297,142 $ 54,077 $ 347,906
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- $ 41.13 $ 13.07 -- $ 13.06 $ 20.48 $ 13.30 $ 10.14
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- 8,374 30 -- 11,647 6,103 91 4,880
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 344,380 $ 397 $ -- $ 152,056 $ 124,981 $ 1,215 $ 49,509
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ 569,844 $ 11,873,412 $ 201,804 $ 133,579 $ 379,580 $ 2,626,837 $ 478,070 $ 1,171,184
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 810,613 $ -- $ -- $ -- $ 1,787 $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 3 $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
$ -- $ 3,646 $ 24 $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- ------------- -------------
</Table>
227
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED) (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL
FOCUS COMMUNICATIONS
FUND FUND
------------- --------------
ASSETS
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 78,707 $ 38,709
Cash(+).................................................... -- 45
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation in forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... 6,445 --
Fund shares sold......................................... 2 136
Dividends and interest................................... 86 208
Variation margin......................................... -- --
Other assets............................................... 56 66
------------- -------------
Total assets................................................ 85,296 39,164
------------- -------------
LIABILITIES
Unrealized depreciation on forward foreign currency
contracts................................................ -- --
Bank overdraft -- U.S. Dollars(+).......................... 100 --
Bank overdraft -- foreign cash............................. -- 17
Payable upon return of securities loaned (Note 2d)......... -- 1,853
Payables:
Investment securities purchased.......................... 6,468 134
Fund shares redeemed..................................... 31 53
Investment advisory and management fees (Note 3)......... 13 6
Dividends................................................ -- --
Distribution fees (Note 3)............................... 7 3
Variation margin......................................... -- --
Accrued expenses........................................... 30 13
Written options............................................ -- --
------------- -------------
Total liabilities........................................... 6,649 2,079
------------- -------------
Net assets.................................................. $ 78,647 $ 37,085
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 79,053 $ 33,520
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... (10) 79
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (2,390) (1,374)
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 1,994 4,860
------------- -------------
Net assets.................................................. $ 78,647 $ 37,085
============= =============
Shares authorized........................................... 300,000 300,000
------------- -------------
Par value................................................... 0.001 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share.......................................... $10.95/$11.59 $ 8.00/$8.47
------------- -------------
Shares outstanding................................... 4,364 3,378
------------- -------------
Net assets........................................... $ 47,813 $ 27,018
------------- -------------
CLASS B: Net asset value per share.......................... $ 10.63 $ 7.78
------------- -------------
Shares outstanding.................................. 1,417 572
------------- -------------
Net assets.......................................... $ 15,067 $ 4,448
------------- -------------
CLASS C: Net asset value per share.......................... $ 10.64 $ 7.78
------------- -------------
Shares outstanding................................... 1,436 603
------------- -------------
Net assets........................................... $ 15,283 $ 4,690
------------- -------------
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.......................... $ 11.12 $ 8.15
------------- -------------
Shares outstanding................................... 43 114
------------- -------------
Net assets........................................... $ 484 $ 929
------------- -------------
CLASS Z: Net asset value per share.......................... $ -- $ --
------------- -------------
Shares outstanding................................... -- --
------------- -------------
Net assets........................................... $ -- $ --
------------- -------------
@ Cost of securities........................................ $ 76,713 $ 33,852
------------- -------------
@ Market value of securities on loan........................ $ -- $ 1,787
------------- -------------
(+) Cash held as collateral on loaned securities............ $ -- $ --
------------- -------------
# Cost of foreign currency on deposit with custodian........ $ -- $ (17)
------------- -------------
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
228
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL GLOBAL GROWTH GROWTH
FINANCIAL SERVICES GLOBAL HEALTH GLOBAL LEADERS TECHNOLOGY ALLOCATION GROWTH OPPORTUNITIES HIGH YIELD
FUND FUND FUND FUND FUND* FUND FUND FUND
------------------ ------------- -------------- ----------- ------------- ------------- ------------- -----------
$ 30,689 $ 692,343 $ 842,674 $ 63,816 $ 548,888 $ 1,458,319 $ 1,325,933 $ 337,560
17 112 441 39 -- 486 -- 2,280
-- -- 47 34 -- -- -- 74
-- -- 77 -- -- -- 130 --
-- 6,120 10,197 3,009 -- 38,129 74,552 4,125
86 566 232 132 4,147 2,052 2,561 112
100 973 1,762 3 -- 225 398 6,445
-- -- -- -- -- -- -- --
51 219 332 192 299 279 778 71
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
30,943 700,333 855,762 67,225 553,334 1,499,490 1,404,352 350,667
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- 2 -- -- -- -- 7 7
-- -- -- -- -- -- 19,942 --
5 -- -- -- -- -- 2 --
5,765 100,191 95,826 -- -- 120,680 157,934 40,893
-- 8,037 14,414 2,895 -- 11,607 23,601 10,005
19 257 514 52 298 341 237 215
4 97 100 11 18 166 146 37
-- -- -- -- -- -- -- --
2 37 45 6 52 74 63 22
-- -- -- -- -- -- -- 13
12 141 290 42 85 248 188 90
-- -- -- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
5,807 108,762 111,189 3,006 453 133,116 202,120 51,282
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 25,136 $ 591,571 $ 744,573 $ 64,219 $ 552,881 $ 1,366,374 $ 1,202,232 $ 299,385
============= ============= ============= =========== ============= ============= ============= ===========
$ 18,675 $ 503,132 $ 592,769 $ 107,545 $ 488,877 $ 1,153,707 $ 936,799 $ 380,030
66 (1,788) (1,410) (318) (423) (1,930) (1,887) 353
(31) 19,172 47,838 (50,868) 14,971 53,936 108,864 (81,695)
6,426 71,055 105,376 7,860 49,456 160,661 158,456 697
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 25,136 $ 591,571 $ 744,573 $ 64,219 $ 552,881 $ 1,366,374 $ 1,202,232 $ 299,385
============= ============= ============= =========== ============= ============= ============= ===========
300,000 300,000 300,000 300,000 300,000 21,000,000 19,250,000 300,000
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
0.001 0.001 0.001 0.001 0.001 0.0001 0.0001 0.001
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$13.65/$14.44 $16.87/$17.85 $19.70/$20.85 $5.79/$6.13 $12.53/$13.26 $19.08/$20.19 $30.21/$31.97 $7.87/$8.24
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
1,257 14,572 23,163 6,277 24,682 38,799 11,303 24,442
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 17,153 $ 245,848 $ 456,267 $ 36,348 $ 309,262 $ 740,097 $ 341,445 $ 192,478
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 13.43 $ 16.06 $ 18.62 $ 5.54 $ 12.48 $ 16.88 $ 26.11 $ 7.86
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
278 4,774 4,500 2,572 7,649 2,966 1,229 5,219
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 3,737 $ 76,671 $ 83,789 $ 14,243 $ 95,431 $ 50,047 $ 32,077 $ 41,033
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 13.43 $ 16.06 $ 18.71 $ 5.54 $ 12.47 $ 16.91 $ 26.11 $ 7.87
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
250 5,227 4,004 2,245 11,881 5,522 1,567 5,416
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 3,358 $ 83,955 $ 74,900 $ 12,426 $ 148,188 $ 93,356 $ 40,910 $ 42,618
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 17.06 $ 26.43 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- 1,107 1,487 --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 18,886 $ 39,285 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $19.30/$20.26 $30.61/$32.14 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- 15,773 20,245 --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 304,461 $ 619,747 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 17.04 $ 26.38 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- 1,088 893 --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 18,552 $ 23,561 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 17.04 $ 26.39 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- 258 222 --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ 4,396 $ 5,860 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 13.77 $ 17.51 $ 20.45 $ 5.94 -- $ 19.48 $ 30.89 $ 7.86
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
64 10,569 6,339 202 -- 7,010 1,967 2,957
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 888 $ 185,097 $ 129,617 $ 1,202 $ -- $ 136,579 $ 60,754 $ 23,256
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ 32.06 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- 1,203 --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ 38,593 $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 24,264 $ 621,311 $ 737,364 $ 55,956 $ 499,432 $ 1,297,658 $ 1,167,477 $ 336,949
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ 5,484 $ 96,878 $ 91,761 $ -- $ -- $ 117,983 $ 154,128 $ 40,056
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
$ (5) $ -- $ 46 $ 33 $ -- $ -- $ -- $ 72
------------- ------------- ------------- ----------- ------------- ------------- ------------- -----------
</Table>
229
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED) (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME
ALLOCATION INCOME
FUND* FUND
------------ -------------
ASSETS
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 35,490 $ 66,667
Cash(+).................................................... -- 163
Foreign currency on deposit with custodian#................ -- 13
Unrealized appreciation in forward foreign currency
contracts................................................ -- 24
Receivables:
Investment securities sold............................... -- 1,326
Fund shares sold......................................... 228 161
Dividends and interest................................... 8 925
Variation margin......................................... -- --
Other assets............................................... 65 74
------------ -------------
Total assets................................................ 35,791 69,353
------------ -------------
LIABILITIES
Unrealized depreciation on forward foreign currency
contracts................................................ -- 8
Bank overdraft -- U.S. Dollars(+).......................... -- --
Bank overdraft -- foreign cash............................. -- --
Payable upon return of securities loaned (Note 2d)......... -- --
Payables:
Investment securities purchased.......................... -- 1,087
Fund shares redeemed..................................... 14 9
Investment advisory and management fees (Note 3)......... 1 7
Dividends................................................ -- --
Distribution fees (Note 3)............................... 3 3
Variation margin......................................... -- 4
Accrued expenses........................................... 9 15
Written options............................................ -- --
------------ -------------
Total liabilities........................................... 27 1,133
------------ -------------
Net assets.................................................. $ 35,764 $ 68,220
============ =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 36,779 $ 69,842
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... 2 73
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (198) (551)
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... (819) (1,144)
------------ -------------
Net assets.................................................. $ 35,764 $ 68,220
============ =============
Shares authorized........................................... 300,000 300,000
------------ -------------
Par value................................................... 0.001 0.001
------------ -------------
CLASS A: Net asset value per share/Maximum offering price
per share.......................................... $9.78/$10.24 $10.16/$10.64
------------ -------------
Shares outstanding................................... 2,292 3,186
------------ -------------
Net assets........................................... $ 22,418 $ 32,374
------------ -------------
CLASS B: Net asset value per share.......................... $ 9.78 $ 10.16
------------ -------------
Shares outstanding.................................. 481 593
------------ -------------
Net assets.......................................... $ 4,702 $ 6,026
------------ -------------
CLASS C: Net asset value per share.......................... $ 9.78 $ 10.18
------------ -------------
Shares outstanding................................... 884 545
------------ -------------
Net assets........................................... $ 8,644 $ 5,554
------------ -------------
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.......................... $ -- $ 10.15
------------ -------------
Shares outstanding................................... -- 2,390
------------ -------------
Net assets........................................... $ -- $ 24,266
------------ -------------
CLASS Z: Net asset value per share.......................... $ -- $ --
------------ -------------
Shares outstanding................................... -- --
------------ -------------
Net assets........................................... $ -- $ --
------------ -------------
@ Cost of securities........................................ $ 36,309 $ 67,871
------------ -------------
@ Market value of securities on loan........................ $ -- $ --
------------ -------------
(+) Cash held as collateral on loaned securities............ $ -- $ --
------------ -------------
# Cost of foreign currency on deposit with custodian........ $ -- $ 12
------------ -------------
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
230
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL INTERNATIONAL INTERNATIONAL
INFLATION PLUS CAPITAL APPRECIATION OPPORTUNITIES SMALL COMPANY MIDCAP MIDCAP VALUE MONEY MARKET
FUND FUND FUND FUND FUND FUND FUND
-------------- -------------------- ------------- ------------- ------------- ------------- ------------
$ 853,769 $ 402,453 $ 302,224 $ 211,278 $ 3,496,874 $ 510,325 $ 238,748
-- 630 165 428 -- 270 773
223 38 -- 4 -- -- --
359 33 10 481 -- -- --
-- 1,572 2,751 2,828 69,310 1,630 --
142 1,559 354 589 1,719 3 30
5,416 763 1,087 766 940 113 453
57 -- -- -- -- -- --
295 151 170 113 264 116 99
------------- ------------- ------------- ------------- ------------- ------------- -----------
860,261 407,199 306,761 216,487 3,569,107 512,457 240,103
------------- ------------- ------------- ------------- ------------- ------------- -----------
480 1 77 199 -- -- --
279 -- -- -- 2,018 -- --
-- -- 40 -- -- -- --
-- 73,465 59,347 39,357 341,315 27,060 --
-- 3,990 1,238 1,588 50,623 4,641 --
2,006 113 98 24 1,777 330 --
82 54 34 28 382 67 20
-- -- -- -- -- -- 26
80 19 14 7 254 35 14
79 -- -- -- -- -- --
130 73 83 44 844 135 88
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
3,136 77,715 60,931 41,247 397,213 32,268 148
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 857,125 $ 329,484 $ 245,830 $ 175,240 $ 3,171,894 $ 480,189 $ 239,955
============= ============= ============= ============= ============= ============= ===========
$ 891,887 $ 252,434 $ 212,271 $ 136,732 $ 2,239,790 $ 357,368 $ 239,955
(2,878) (690) 540 (2,179) (6,994) (980) --
(8,301) 27,084 (3,419) 19,355 327,343 41,949 --
(23,583) 50,656 36,438 21,332 611,755 81,852 --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 857,125 $ 329,484 $ 245,830 $ 175,240 $ 3,171,894 $ 480,189 $ 239,955
============= ============= ============= ============= ============= ============= ===========
400,000 300,000 300,000 300,000 460,000 300,000 2,700,000
------------- ------------- ------------- ------------- ------------- ------------- -----------
0.001 0.001 0.001 0.001 0.001 0.001 0.001
------------- ------------- ------------- ------------- ------------- ------------- -----------
$10.30/$10.79 $14.98/$15.85 $16.02/$16.95 $15.98/$16.91 $25.97/$27.48 $14.30/$15.13 $1.00/$1.00
------------- ------------- ------------- ------------- ------------- ------------- -----------
31,876 12,621 9,436 3,860 74,237 22,145 180,140
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 328,476 $ 189,067 $ 151,151 $ 61,686 $ 1,927,854 $ 316,589 $ 180,140
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 10.31 $ 14.52 $ 15.07 $ 15.57 $ 24.05 $ 13.72 $ 1.00
------------- ------------- ------------- ------------- ------------- ------------- -----------
10,154 2,124 1,983 661 20,967 4,806 26,439
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 104,740 $ 30,838 $ 29,883 $ 10,287 $ 504,170 $ 65,949 $ 26,439
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 10.31 $ 14.52 $ 14.96 $ 15.41 $ 24.16 $ 13.73 $ 1.00
------------- ------------- ------------- ------------- ------------- ------------- -----------
28,869 2,766 1,386 1,093 22,825 4,910 15,252
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 297,596 $ 40,155 $ 20,729 $ 16,834 $ 551,449 $ 67,394 $ 15,252
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 10.32 $ 15.19 $ 16.50 $ 16.12 $ 27.32 $ 14.69 $ 1.00
------------- ------------- ------------- ------------- ------------- ------------- -----------
12,239 4,571 2,670 5,361 6,896 2,060 18,124
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 126,313 $ 69,424 $ 44,067 $ 86,433 $ 188,421 $ 30,257 $ 18,124
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
-- -- -- -- -- -- --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 877,216 $ 351,817 $ 265,744 $ 190,256 $ 2,885,128 $ 428,473 $ 238,748
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ 69,952 $ 56,514 $ 37,341 $ 331,673 $ 26,418 $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
$ 214 $ 40 $ 39 $ 6 $ -- $ -- $ --
------------- ------------- ------------- ------------- ------------- ------------- -----------
<Caption>
RETIREMENT
INCOME
FUND*
------------
$ 636
--
--
--
--
9
--
--
56
------------
701
------------
--
--
--
--
--
--
--
--
--
--
2
--
------------
2
------------
$ 699
============
$ 703
(6)
--
2
------------
$ 699
============
800,000
------------
0.001
------------
$9.46/$10.01
------------
31
------------
$ 299
------------
$ 9.46
------------
17
------------
$ 159
------------
$ 9.47
------------
14
------------
$ 130
------------
$ --
------------
--
------------
$ --
------------
$ --
------------
--
------------
$ --
------------
$ --
------------
--
------------
$ --
------------
$ --
------------
--
------------
$ --
------------
$ --
------------
--
------------
$ --
------------
$ 9.47
------------
12
------------
$ 111
------------
$ --
------------
--
------------
$ --
------------
$ 634
------------
$ --
------------
$ --
------------
$ --
------------
</Table>
231
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED) (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT MIDCAP SELECT MIDCAP
GROWTH VALUE
FUND FUND
------------- -------------
ASSETS
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 60,373 $ 48,076
Cash(+).................................................... 467 657
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation in forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... 1,079 248
Fund shares sold......................................... 539 571
Dividends and interest................................... 17 25
Variation margin......................................... -- --
Other assets............................................... 114 93
------------- -------------
Total assets................................................ 62,589 49,670
------------- -------------
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.......................... 1,770 527
Fund shares redeemed..................................... 33 1
Investment advisory and management fees (Note 3)......... 9 8
Dividends................................................ -- --
Distribution fees (Note 3)............................... 2 3
Variation margin......................................... -- --
Accrued expenses........................................... 44 10
Written options............................................ -- --
------------- -------------
Total liabilities........................................... 1,858 549
------------- -------------
Net assets.................................................. $ 60,731 $ 49,121
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 55,757 $ 44,156
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... (149) (56)
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. 1,152 1,301
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 3,971 3,720
------------- -------------
Net assets.................................................. $ 60,731 $ 49,121
============= =============
Shares authorized........................................... 800,000 800,000
------------- -------------
Par value................................................... 0.001 0.001
------------- -------------
CLASS A: Net asset value per share/Maximum offering price
per share.......................................... $11.64/$12.32 $11.94/$12.63
------------- -------------
Shares outstanding................................... 1,981 3,301
------------- -------------
Net assets........................................... $ 23,058 $ 39,419
------------- -------------
CLASS B: Net asset value per share.......................... $ 11.54 $ 11.86
------------- -------------
Shares outstanding.................................. 337 289
------------- -------------
Net assets.......................................... $ 3,885 $ 3,429
------------- -------------
CLASS C: Net asset value per share.......................... $ 11.54 $ 11.87
------------- -------------
Shares outstanding................................... 352 477
------------- -------------
Net assets........................................... $ 4,061 $ 5,660
------------- -------------
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.......................... $ 11.69 $ 11.94
------------- -------------
Shares outstanding................................... 2,542 51
------------- -------------
Net assets........................................... $ 29,727 $ 613
------------- -------------
CLASS Z: Net asset value per share.......................... $ -- $ --
------------- -------------
Shares outstanding................................... -- --
------------- -------------
Net assets........................................... $ -- $ --
------------- -------------
@ Cost of securities........................................ $ 56,402 $ 44,356
------------- -------------
@ 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.
The accompanying notes are an integral part of these financial statements.
232
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT SMALLCAP TARGET TARGET
GROWTH SHORT DURATION SMALL COMPANY SMALLCAP GROWTH STOCK RETIREMENT 2010 RETIREMENT 2020
FUND FUND FUND FUND FUND FUND* FUND*
--------------- -------------- ------------- --------------- ------------- --------------- ---------------
$ 8,345 $ 130,956 $ 493,456 $ 553,660 $ 1,448,828 $ 1,551 $ 592
105 -- 196 899 -- -- --
-- -- -- -- -- -- --
-- -- 15 -- 1 -- --
102 -- 15,434 2,732 10,503 -- --
103 64 158 1,374 325 -- --
3 1,163 324 73 1,306 -- --
-- -- -- 17 -- -- --
84 79 112 244 567 52 52
------------- ------------ ------------- ------------- ------------- ------------ -------------
8,742 132,262 509,695 558,999 1,461,530 1,603 644
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- 2 -- -- -- --
-- 28 -- -- 708 -- --
-- -- -- -- -- -- --
-- -- 102,410 60,059 155,703 -- --
105 3,411 8,436 7,432 8,652 -- --
-- 157 277 123 1,223 -- --
1 12 56 64 155 -- --
-- -- -- -- -- -- --
1 5 27 26 102 -- --
-- -- -- -- -- -- --
-- 20 111 84 597 -- --
-- -- -- -- -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
107 3,633 111,319 67,788 167,140 -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 8,635 $ 128,629 $ 398,376 $ 491,211 $ 1,294,390 $ 1,603 $ 644
============= ============ ============= ============= ============= ============ =============
$ 7,819 $ 132,389 $ 308,071 $ 453,595 $ 1,575,565 $ 1,592 $ 623
(38) 23 (1,763) (531) 2,478 (4) (5)
(36) (2,057) 9,942 (11,258) (376,850) 1 7
890 (1,726) 82,126 49,405 93,197 14 19
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 8,635 $ 128,629 $ 398,376 $ 491,211 $ 1,294,390 $ 1,603 $ 644
============= ============ ============= ============= ============= ============ =============
800,000 300,000 300,000 21,000,000 300,000 800,000 800,000
------------- ------------ ------------- ------------- ------------- ------------ -------------
0.001 0.001 0.001 0.0001 0.001 0.001 0.001
------------- ------------ ------------- ------------- ------------- ------------ -------------
$11.21/$11.86 $9.83/$10.13 $23.11/$24.46 $32.28/$34.16 $20.34/$21.52 $9.55/$10.11 $10.29/$10.89
------------- ------------ ------------- ------------- ------------- ------------ -------------
656 2,618 8,319 5,121 35,838 125 56
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 7,352 $ 25,737 $ 192,248 $ 165,311 $ 728,805 $ 1,194 $ 574
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 11.17 $ 9.83 $ 21.48 $ 29.08 $ 19.01 $ 9.60 $ 10.33
------------- ------------ ------------- ------------- ------------- ------------ -------------
39 756 2,921 719 13,777 15 3
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 440 $ 7,427 $ 62,739 $ 20,916 $ 261,935 $ 145 $ 33
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 11.17 $ 9.83 $ 21.49 $ 29.05 $ 19.15 $ 9.60 $ 10.33
------------- ------------ ------------- ------------- ------------- ------------ -------------
55 1,691 2,358 839 9,245 14 3
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 618 $ 16,626 $ 50,682 $ 24,376 $ 176,987 $ 132 $ 26
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- -- -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 29.24 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- 541 -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 15,811 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $32.39/$34.01 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- 3,985 -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 129,063 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 29.20 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- 551 -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 16,081 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 29.23 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- 218 -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ 6,380 $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 11.24 $ 9.81 $ 24.28 $ 32.87 $ 21.16 $ 9.53 $ 10.26
------------- ------------ ------------- ------------- ------------- ------------ -------------
20 8,033 3,819 3,446 5,985 14 1
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 225 $ 78,839 $ 92,707 $ 113,273 $ 126,663 $ 132 $ 11
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
-- -- -- -- -- -- --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ 7,455 $ 132,682 $ 411,320 $ 504,256 $ 1,355,636 $ 1,537 $ 573
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ 99,865 $ 58,496 $ 150,419 $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
$ -- $ -- $ -- $ -- $ -- $ -- $ --
------------- ------------ ------------- ------------- ------------- ------------ -------------
<Caption>
TARGET
RETIREMENT 2030
FUND*
---------------
$ 270
--
--
--
--
1
--
--
50
-----------
321
-----------
--
--
--
--
--
--
--
--
--
--
--
--
-----------
--
-----------
$ 321
===========
$ 318
(6)
--
9
-----------
$ 321
===========
800,000
-----------
0.001
-----------
$9.23/$9.77
-----------
18
-----------
$ 163
-----------
$ 9.27
-----------
8
-----------
$ 78
-----------
$ 9.27
-----------
5
-----------
$ 49
-----------
$ --
-----------
--
-----------
$ --
-----------
$ --
-----------
--
-----------
$ --
-----------
$ --
-----------
--
-----------
$ --
-----------
$ --
-----------
--
-----------
$ --
-----------
$ --
-----------
--
-----------
$ --
-----------
$ 9.22
-----------
4
-----------
$ 31
-----------
$ --
-----------
--
-----------
$ --
-----------
$ 261
-----------
$ --
-----------
$ --
-----------
$ --
-----------
</Table>
233
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF ASSETS AND LIABILITIES -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED) (000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE TAX-FREE
CALIFORNIA MINNESOTA
FUND FUND
------------- -------------
ASSETS
Investments in securities, at value; (amortized cost for
Money Market)@........................................... $ 21,103 $ 34,510
Cash(+).................................................... 686 1,193
Foreign currency on deposit with custodian#................ -- --
Unrealized appreciation in forward foreign currency
contracts................................................ -- --
Receivables:
Investment securities sold............................... -- --
Fund shares sold......................................... -- 1
Dividends and interest................................... 262 444
Variation margin......................................... -- --
Other assets............................................... 16 24
------------- -------------
Total assets................................................ 22,067 36,172
------------- -------------
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.......................... -- 1,020
Fund shares redeemed..................................... -- --
Investment advisory and management fees (Note 3)......... 2 4
Dividends................................................ -- --
Distribution fees (Note 3)............................... 1 1
Variation margin......................................... -- --
Accrued expenses........................................... 5 6
Written options............................................ -- --
------------- -------------
Total liabilities........................................... 8 1,031
------------- -------------
Net assets.................................................. $ 22,059 $ 35,141
============= =============
SUMMARY OF NET ASSETS:
Capital stock and paid-in-capital........................... $ 21,735 $ 34,007
Accumulated undistributed (distribution in excess of) net
investment income (loss)................................... -- (2)
Accumulated net realized gain (loss) on investments and
foreign currency transactions.............................. (7) 13
Unrealized appreciation (depreciation) of investments and
the translations of assets and liabilities denominated in
foreign currency........................................... 331 1,123
------------- -------------
Net assets.................................................. $ 22,059 $ 35,141
============= =============
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.......................................... $10.29/$10.77 $10.14/$10.62
------------- -------------
Shares outstanding................................... 1,788 608
------------- -------------
Net assets........................................... $ 18,396 $ 6,167
------------- -------------
CLASS B: Net asset value per share.......................... $ 10.28 $ 10.15
------------- -------------
Shares outstanding.................................. 153 77
------------- -------------
Net assets.......................................... $ 1,577 $ 780
------------- -------------
CLASS C: Net asset value per share.......................... $ 10.30 $ 10.17
------------- -------------
Shares outstanding................................... 203 38
------------- -------------
Net assets........................................... $ 2,086 $ 390
------------- -------------
CLASS E: Net asset value per share/Maximum offering price
per share.......................................... $ -- $10.20/$10.68
------------- -------------
Shares outstanding................................... -- 2,411
------------- -------------
Net assets........................................... $ -- $ 24,596
------------- -------------
CLASS H: Net asset value per share.......................... $ -- $ 10.20
------------- -------------
Shares outstanding................................... -- 12
------------- -------------
Net assets........................................... $ -- $ 117
------------- -------------
CLASS L: Net asset value per share/Maximum offering price
per share.......................................... $ -- $10.17/$10.65
------------- -------------
Shares outstanding................................... -- 272
------------- -------------
Net assets........................................... $ -- $ 2,768
------------- -------------
CLASS M: Net asset value per share.......................... $ -- $ 10.19
------------- -------------
Shares outstanding.................................. -- 12
------------- -------------
Net assets.......................................... $ -- $ 124
------------- -------------
CLASS N: Net asset value per share.......................... $ -- $ 10.19
------------- -------------
Shares outstanding................................... -- 19
------------- -------------
Net assets........................................... $ -- $ 189
------------- -------------
CLASS Y: Net asset value per share.......................... $ -- $ 10.14
------------- -------------
Shares outstanding................................... -- 1
------------- -------------
Net assets........................................... $ -- $ 10
------------- -------------
CLASS Z: Net asset value per share.......................... $ -- $ --
------------- -------------
Shares outstanding................................... -- --
------------- -------------
Net assets........................................... $ -- $ --
------------- -------------
@ Cost of securities........................................ $ 20,772 $ 33,387
------------- -------------
@ 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.
The accompanying notes are an integral part of these financial statements.
234
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE TAX-FREE TOTAL U.S. GOVERNMENT VALUE
NATIONAL NEW YORK RETURN BOND SECURITIES VALUE OPPORTUNITIES
FUND FUND FUND FUND FUND FUND
------------- ------------- ------------- --------------- ------------- -------------
$ 113,065 $ 15,376 $ 1,015,486 $ 220,025 $ 142,415 $ 283,507
1,319 2 1,507 -- 142 300
-- -- 637 -- -- --
-- -- 820 -- -- --
140 -- 37,657 2 1,434 2,676
153 -- 1,552 172 206 706
1,699 211 5,741 1,850 206 239
-- -- -- -- -- --
106 19 104 101 48 146
------------- ------------- ------------- ----------- ------------- -------------
116,482 15,608 1,063,504 222,150 144,451 287,574
------------- ------------- ------------- ----------- ------------- -------------
-- -- 2,281 -- -- --
-- -- -- 298 -- --
-- -- -- -- -- --
-- -- 134,393 17,585 -- 12,016
1,690 175 152,998 -- 1,706 3,056
23 8 538 289 28 65
14 1 78 24 19 39
-- -- -- -- -- --
6 1 39 8 7 13
-- -- -- -- -- --
14 4 150 47 30 39
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
1,747 189 290,477 18,251 1,790 15,228
------------- ------------- ------------- ----------- ------------- -------------
$ 114,735 $ 15,419 $ 773,027 $ 203,899 $ 142,661 $ 272,346
============= ============= ============= =========== ============= =============
$ 111,218 $ 15,122 $ 794,601 $ 223,377 $ 111,442 $ 225,911
(10) (1) 241 (7) 425 433
45 44 (8,995) (14,848) 10,830 12,460
3,482 254 (12,820) (4,623) 19,964 33,542
------------- ------------- ------------- ----------- ------------- -------------
$ 114,735 $ 15,419 $ 773,027 $ 203,899 $ 142,661 $ 272,346
============= ============= ============= =========== ============= =============
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
------------- ------------- ------------- ----------- ------------- -------------
$11.04/$11.56 $10.27/$10.75 $10.40/$10.89 $9.11/$9.54 $12.07/$12.77 $17.60/$18.62
------------- ------------- ------------- ----------- ------------- -------------
5,276 1,074 34,587 4,882 5,965 5,293
------------- ------------- ------------- ----------- ------------- -------------
$ 58,272 $ 11,033 $ 359,712 $ 44,469 $ 71,970 $ 93,158
------------- ------------- ------------- ----------- ------------- -------------
$ 10.97 $ 10.27 $ 10.35 $ 9.07 $ 11.92 $ 16.37
------------- ------------- ------------- ----------- ------------- -------------
611 167 7,443 1,999 932 1,074
------------- ------------- ------------- ----------- ------------- -------------
$ 6,700 $ 1,715 $ 77,012 $ 18,129 $ 11,112 $ 17,581
------------- ------------- ------------- ----------- ------------- -------------
$ 11.00 $ 10.27 $ 10.41 $ 9.07 $ 11.92 $ 16.37
------------- ------------- ------------- ----------- ------------- -------------
958 260 6,901 926 952 1,051
------------- ------------- ------------- ----------- ------------- -------------
$ 10,540 $ 2,671 $ 71,869 $ 8,399 $ 11,344 $ 17,205
------------- ------------- ------------- ----------- ------------- -------------
$11.03/$11.55 $ -- $ -- $9.09/$9.52 $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
2,655 -- -- 10,486 -- --
------------- ------------- ------------- ----------- ------------- -------------
$ 29,291 $ -- $ -- $ 95,338 $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
$ 11.00 $ -- $ -- $ 9.06 $ -- $ 16.41
------------- ------------- ------------- ----------- ------------- -------------
21 -- -- 251 -- 265
------------- ------------- ------------- ----------- ------------- -------------
$ 229 $ -- $ -- $ 2,276 $ -- $ 4,346
------------- ------------- ------------- ----------- ------------- -------------
$11.02/$11.54 $ -- $ -- $9.10/$9.53 $ -- $17.62/$18.50
------------- ------------- ------------- ----------- ------------- -------------
726 -- -- 3,532 -- 1,840
------------- ------------- ------------- ----------- ------------- -------------
$ 8,005 $ -- $ -- $ 32,135 $ -- $ 32,423
------------- ------------- ------------- ----------- ------------- -------------
$ 11.00 $ -- $ -- $ 9.06 $ -- $ 16.39
------------- ------------- ------------- ----------- ------------- -------------
111 -- -- 266 -- 464
------------- ------------- ------------- ----------- ------------- -------------
$ 1,225 $ -- $ -- $ 2,408 $ -- $ 7,608
------------- ------------- ------------- ----------- ------------- -------------
$ 10.98 $ -- $ -- $ 9.05 $ -- $ 16.41
------------- ------------- ------------- ----------- ------------- -------------
42 -- -- 82 -- 139
------------- ------------- ------------- ----------- ------------- -------------
$ 463 $ -- $ -- $ 744 $ -- $ 2,275
------------- ------------- ------------- ----------- ------------- -------------
$ 11.02 $ -- $ 10.51 $ 9.15 $ 12.04 $ 17.78
------------- ------------- ------------- ----------- ------------- -------------
1 -- 25,157 -- 4,008 5,498
------------- ------------- ------------- ----------- ------------- -------------
$ 10 $ -- $ 264,434 $ 1 $ 48,235 $ 97,750
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
-- -- -- -- -- --
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
$ 109,583 $ 15,122 $ 1,026,881 $ 707,951 $ 122,451 $ 249,969
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ 131,672 $ 17,153 $ -- $ 11,722
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ -- $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
$ -- $ -- $ 615 $ -- $ -- $ --
------------- ------------- ------------- ----------- ------------- -------------
</Table>
235
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
AGGRESSIVE GROWTH
ADVISERS FUND ALLOCATION FUND*
------------- -----------------
INVESTMENT INCOME:
Dividends................................................. $ 11,525 $ 1,365
Interest.................................................. 16,112 --
Securities lending........................................ 414 --
Less: Foreign tax withheld................................ (127) --
-------- -------
Total investment income, net............................ 27,924 1,365
-------- -------
EXPENSES:
Investment management and advisory fees................... 5,834 138
Transfer agent fees....................................... 2,092 170
Distribution fees
Class A................................................. 1,501 95
Class B................................................. 2,110 123
Class C................................................. 1,240 189
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 33 1
Accounting services....................................... 158 7
Registration and filing fees.............................. 60 26
Board of Directors' fees.................................. 16 --
Other expenses............................................ 393 42
-------- -------
Total expenses (before waivers and fees paid
indirectly)............................................ 13,437 791
Expense waivers........................................... (472) (97)
Transfer agent waiver..................................... -- --
Fees paid indirectly...................................... (116) --
-------- -------
Total waivers and fees paid indirectly.................. (588) (97)
-------- -------
Total expenses, net..................................... 12,849 694
-------- -------
Net investment income (loss).............................. 15,075 671
-------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 145,420 4,556
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ (31) --
-------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 145,389 4,556
-------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (33,437) 13,811
Net unrealized appreciation (depreciation) of futures and
options contracts....................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... 7 --
-------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... (33,430) 13,811
-------- -------
NET GAIN(LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND OPTIONS
AND FOREIGN CURRENCY TRANSACTIONS:........................ 111,959 18,367
-------- -------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $127,034 $19,038
======== =======
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
236
- --------------------------------------------------------------------------------
<Table>
<Caption>
BALANCED CAPITAL CAPITAL CONSERVATIVE DISCIPLINED
ALLOCATION APPRECIATION APPRECIATION II ALLOCATION EQUITY DIVIDEND AND EQUITY INCOME FLOATING RATE
FUND* FUND FUND FUND* FUND GROWTH FUND FUND FUND
---------- ------------ --------------- ------------ ----------- ------------ ------------- -------------
$ 7,435 $ 90,135 $ 942 $2,394 $ 3,338 $ 36,855 $ 7,735 $ --
-- 12,508 153 -- 140 1,717 110 19,828
-- 624 -- -- -- 77 -- --
-- (2,261) (34) -- (1) (315) -- --
------- ---------- ------- ------ ------- -------- ------- -------
7,435 101,006 1,061 2,394 3,477 38,334 7,845 19,828
------- ---------- ------- ------ ------- -------- ------- -------
515 37,440 703 126 1,562 9,467 1,982 1,926
326 10,931 160 62 405 2,940 457 193
397 8,924 118 94 258 2,789 510 466
420 8,785 56 81 198 1,754 178 55
613 10,892 174 173 167 1,436 263 947
-- -- -- -- -- -- -- --
-- -- -- -- -- -- -- --
-- -- -- -- -- -- -- --
-- -- -- -- -- -- -- --
1 1,116 94 1 6 10 7 3
26 940 11 6 32 249 41 48
44 295 29 25 27 105 62 85
1 58 -- 1 3 19 2 3
93 1,714 13 26 88 475 98 83
------- ---------- ------- ------ ------- -------- ------- -------
2,436 81,095 1,358 595 2,746 19,244 3,600 3,809
(72) -- (54) (36) (32) -- (745) (1,926)
-- -- (2) -- (17) -- -- --
-- (1,496) (14) -- (25) (117) (20) (4)
------- ---------- ------- ------ ------- -------- ------- -------
(72) (1,496) (70) (36) (74) (117) (765) (1,930)
------- ---------- ------- ------ ------- -------- ------- -------
2,364 79,599 1,288 559 2,672 19,127 2,835 1,879
------- ---------- ------- ------ ------- -------- ------- -------
5,071 21,407 (227) 1,835 805 19,207 5,010 17,949
------- ---------- ------- ------ ------- -------- ------- -------
16,559 833,774 5,871 3,363 11,888 99,687 14,442 29
-- (2,062) -- -- 25 -- --
-- (507) (11) -- -- -- -- 14
------- ---------- ------- ------ ------- -------- ------- -------
16,559 831,205 5,860 3,363 11,913 99,687 14,442 43
------- ---------- ------- ------ ------- -------- ------- -------
26,474 849,558 17,476 2,886 17,246 194,261 32,903 3,286
-- (1,195) -- -- -- -- -- --
-- 338 2 -- -- -- -- 23
------- ---------- ------- ------ ------- -------- ------- -------
26,474 848,701 17,478 2,886 17,246 194,261 32,903 3,309
------- ---------- ------- ------ ------- -------- ------- -------
43,033 1,679,906 23,338 6,249 29,159 293,948 47,345 3,352
------- ---------- ------- ------ ------- -------- ------- -------
$48,104 $1,701,313 $23,111 $8,084 $29,964 $313,155 $52,355 $21,301
======= ========== ======= ====== ======= ======== ======= =======
</Table>
237
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL
FOCUS COMMUNICATIONS
FUND FUND
------- --------------
INVESTMENT INCOME:
Dividends................................................. $ 713 $ 334
Interest.................................................. 16 22
Securities lending........................................ 1 14
Less: Foreign tax withheld................................ (22) (19)
------- -------
Total investment income, net............................ 708 351
------- -------
EXPENSES:
Investment management and advisory fees................... 409 149
Transfer agent fees....................................... 103 43
Distribution fees
Class A................................................. 62 27
Class B................................................. 77 18
Class C................................................. 81 19
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 11 12
Accounting services....................................... 7 2
Registration and filing fees.............................. 21 22
Board of Directors' fees.................................. 1 --
Other expenses............................................
------- -------
Total expenses (before waivers and fees paid
indirectly)............................................ 796 301
Expense waivers........................................... (65) (104)
Transfer agent waiver..................................... -- (3)
Fees paid indirectly...................................... (13) (1)
------- -------
Total waivers and fees paid indirectly.................. (78) (108)
------- -------
Total expenses, net..................................... 718 193
------- -------
Net investment income (loss).............................. (10) 158
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 8,936 2,396
Net realized gain (loss) on futures and options
contracts............................................... -- --
Net realized gain (loss) on foreign currency
transactions............................................ 4 1
------- -------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 8,940 2,397
------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND OPTIONS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (3,021) 1,215
Net unrealized appreciation (depreciation) of futures and
options contracts....................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... (2) 1
------- -------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN AND
OPTIONS CURRENCY TRANSACTIONS............................. (3,023) 1,216
------- -------
NET GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. 5,917 3,613
------- -------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $ 5,907 $ 3,771
======= =======
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
238
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL GROWTH GROWTH
GLOBAL FINANCIAL GLOBAL HEALTH GLOBAL LEADERS TECHNOLOGY ALLOCATION OPPORTUNITIES HIGH YIELD
SERVICES FUND FUND FUND FUND FUND* GROWTH FUND FUND FUND
---------------- ------------- -------------- ---------- ---------- ----------- ------------- ----------
$ 271 $ 2,546 $ 3,854 $ 159 $ 5,122 $ 5,609 $ 3,334 $ --
16 212 178 17 -- 631 483 12,000
2 83 82 1 -- 103 516 96
(27) (50) (320) (14) -- (51) (98) --
------ ------- -------- ------ ------- -------- -------- -------
262 2,791 3,794 163 5,122 6,292 4,235 12,096
------ ------- -------- ------ ------- -------- -------- -------
114 2,823 2,871 297 454 4,695 3,974 1,156
32 617 1,103 174 423 1,167 867 340
19 290 546 41 316 880 347 242
18 377 411 68 402 245 128 219
15 398 369 59 613 446 145 232
-- -- -- -- -- 99 196 --
-- -- -- -- -- 379 744 --
-- -- -- -- -- 96 117 --
-- -- -- -- -- 22 28 --
8 29 135 20 1 8 51 34
2 47 58 5 23 77 31 26
21 29 38 25 45 82 70 31
-- 2 5 -- 1 7 6 3
10 132 157 16 88 151 206 89
------ ------- -------- ------ ------- -------- -------- -------
239 4,744 5,693 705 2,366 8,354 6,910 2,372
(85) (94) (175) (136) (204) (9) (383) (256)
(2) (60) (125) (81) -- (22) (257) --
(1) (11) (190) (7) -- (101) (148) (9)
------ ------- -------- ------ ------- -------- -------- -------
(88) (165) (490) (224) (204) (132) (788) (265)
------ ------- -------- ------ ------- -------- -------- -------
151 4,579 5,203 481 2,162 8,222 6,122 2,107
------ ------- -------- ------ ------- -------- -------- -------
111 (1,788) (1,409) (318) 2,960 (1,930) (1,887) 9,989
------ ------- -------- ------ ------- -------- -------- -------
425 20,524 52,464 5,706 14,981 61,480 110,180 (3,362)
-- -- -- -- -- -- -- 8
(1) (14) (227) 1 -- -- 53 (43)
------ ------- -------- ------ ------- -------- -------- -------
424 20,510 52,237 5,707 14,981 61,480 110,233 (3,397)
------ ------- -------- ------ ------- -------- -------- -------
3,345 26,533 68,012 3,087 32,968 60,238 53,836 7,744
-- -- -- -- -- -- -- 88
1 40 69 -- -- -- 3 198
------ ------- -------- ------ ------- -------- -------- -------
3,346 26,573 68,081 3,087 32,968 60,238 53,839 8,030
------ ------- -------- ------ ------- -------- -------- -------
3,770 47,083 120,318 8,794 47,949 121,718 164,072 4,633
------ ------- -------- ------ ------- -------- -------- -------
$3,881 $45,295 $118,909 $8,476 $50,909 $119,788 $162,185 $14,622
====== ======= ======== ====== ======= ======== ======== =======
</Table>
239
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME ALLOCATION
FUND* INCOME FUND
----------------- -----------
INVESTMENT INCOME:
Dividends................................................. $ 792 $ --
Interest.................................................. -- 1,932
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
----- ------
Total investment income, net............................ 792 1,932
----- ------
EXPENSES:
Investment management and advisory fees................... 32 183
Transfer agent fees....................................... 22 41
Distribution fees
Class A................................................. 24 39
Class B................................................. 23 29
Class C................................................. 41 25
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 1 11
Accounting services....................................... 2 5
Registration and filing fees.............................. 19 24
Board of Directors' fees.................................. -- --
Other expenses............................................ 9 19
----- ------
Total expenses (before waivers and fees paid
indirectly)............................................ 173 376
Expense waivers........................................... (33) (70)
Transfer agent waiver..................................... -- --
Fees paid indirectly...................................... -- (1)
----- ------
Total waivers and fees paid indirectly.................. (33) (71)
----- ------
Total expenses, net..................................... 140 305
----- ------
Net investment income (loss).............................. 652 1,627
----- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (147) (225)
Net realized gain (loss) on futures and options
contracts............................................... -- 67
Net realized gain (loss) on foreign currency
transactions............................................ -- (13)
----- ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:.............. (147) (171)
----- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (150) (460)
Net unrealized appreciation (depreciation) of futures and
options contracts....................................... -- (24)
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... -- 8
----- ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS..................................... (150) (476)
----- ------
NET GAIN(LOSS) ON INVESTMENTS, FUTURES AND OPTIONS CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS:........................ (297) (647)
----- ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $ 355 $ 980
===== ======
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
240
- --------------------------------------------------------------------------------
<Table>
<Caption>
INTERNATIONAL
INFLATION PLUS INTERNATIONAL CAPITAL OPPORTUNITIES INTERNATIONAL SMALL MIDCAP MIDCAP VALUE MONEY MARKET
FUND APPRECIATION FUND FUND COMPANY FUND FUND FUND FUND
-------------- --------------------- ------------- ------------------- -------- ------------ ------------
$ -- $ 1,782 $ 2,107 $ 1,550 $ 13,586 $ 2,507 $ --
19,298 178 204 97 1,254 124 5,264
-- 50 42 79 205 17 --
-- (205) (230) (206) (134) (14) --
-------- ------- ------- ------- -------- ------- ------
19,298 1,805 2,123 1,520 14,911 2,634 5,264
-------- ------- ------- ------- -------- ------- ------
2,731 1,437 839 726 11,038 1,983 589
458 325 336 102 3,008 594 278
475 189 156 55 2,283 377 220
573 129 133 39 2,458 317 137
1,731 170 92 68 2,661 325 77
-- -- -- -- -- -- --
-- -- -- -- -- -- --
-- -- -- -- -- -- --
-- -- -- -- -- -- --
8 90 83 71 25 17 3
79 24 16 12 250 39 20
75 40 25 27 54 32 37
6 2 1 1 19 3 2
239 57 40 34 478 104 65
-------- ------- ------- ------- -------- ------- ------
6,375 2,463 1,721 1,135 22,274 3,791 1,428
(299) (106) (69) (50) -- (129) (179)
-- (10) (61) (13) -- (5) --
(3) (70) (34) (27) (369) (43) --
-------- ------- ------- ------- -------- ------- ------
(302) (186) (164) (90) (369) (177) (179)
-------- ------- ------- ------- -------- ------- ------
6,073 2,277 1,557 1,045 21,905 3,614 1,249
-------- ------- ------- ------- -------- ------- ------
13,225 (472) 566 475 (6,994) (980) 4,015
-------- ------- ------- ------- -------- ------- ------
(5,723) 28,065 14,400 17,190 330,237 42,247 --
31 -- -- -- -- -- --
(42) (121) (81) 2,162 (66) 14 --
-------- ------- ------- ------- -------- ------- ------
(5,734) 27,944 14,319 19,352 330,171 42,261 --
-------- ------- ------- ------- -------- ------- ------
(19,380) 37,128 25,245 18,550 161,908 40,072 --
(24) -- -- -- -- -- --
(38) 37 (45) (2,078) 9 (1) --
-------- ------- ------- ------- -------- ------- ------
(19,442) 37,165 25,200 16,472 161,917 40,071 --
-------- ------- ------- ------- -------- ------- ------
(25,176) 65,109 39,519 35,824 492,088 82,332 --
-------- ------- ------- ------- -------- ------- ------
$(11,951) $64,637 $40,085 $36,299 $485,094 $81,352 $4,015
======== ======= ======= ======= ======== ======= ======
<Caption>
RETIREMENT
INCOME
FUND*
----------
$ 4
--
--
--
----
4
----
--
--
--
--
--
--
--
--
--
1
--
23
--
13
----
37
(36)
--
--
----
(36)
----
1
----
3
----
1
--
--
----
1
----
2
--
--
----
2
----
3
----
$ 6
====
</Table>
241
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT MIDCAP GROWTH SELECT MIDCAP VALUE
FUND FUND
-------------------- -------------------
INVESTMENT INCOME:
Dividends................................................. $ 77 $ 234
Interest.................................................. 30 33
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
------ ------
Total investment income, net............................ 107 267
------ ------
EXPENSES:
Investment management and advisory fees................... 167 187
Transfer agent fees....................................... 52 29
Distribution fees
Class A................................................. 24 38
Class B................................................. 15 12
Class C................................................. 13 21
Class H................................................. -- --
Class L................................................. -- --
Class M................................................. -- --
Class N................................................. -- --
Custodian fees............................................ 20 12
Accounting services....................................... 3 3
Registration and filing fees.............................. 17 23
Board of Directors' fees.................................. -- --
Other expenses............................................ 8 14
------ ------
Total expenses (before waivers and fees paid
indirectly)............................................ 319 339
Expense waivers........................................... (55) (24)
Transfer agent waiver..................................... (2) --
Fees paid indirectly...................................... (6) (13)
------ ------
Total waivers and fees paid indirectly.................. (63) (37)
------ ------
Total expenses, net..................................... 256 302
------ ------
Net investment income (loss).............................. (149) (35)
------ ------
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES AND OPTIONS
CONTRACTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... 1,262 1,319
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:.............. 1,262 1,319
------ ------
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES AND OPTIONS CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. 3,635 3,187
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..................................... 3,635 3,187
------ ------
NET GAIN(LOSS) ON INVESTMENTS, FUTURES AND OPTIONS CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS:........................ 4,897 4,506
------ ------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $4,748 $4,471
====== ======
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
242
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT SMALLCAP SHORT DURATION SMALL COMPANY SMALLCAP GROWTH STOCK TARGET RETIREMENT TARGET RETIREMENT
GROWTH FUND FUND FUND FUND FUND 2010 FUND* 2020 FUND*
--------------- -------------- ------------- --------------- -------- ----------------- -----------------
$ 15 $ -- $ 648 $ 1,440 $ 12,052 $ 5 $ 7
6 2,931 163 333 128 -- --
-- -- 94 140 62 -- --
-- -- (35) (2) (211) -- --
------ ------ ------- ------- -------- ---- ----
21 2,931 870 1,911 12,031 5 7
------ ------ ------- ------- -------- ---- ----
36 374 1,481 1,561 4,710 -- --
1 52 448 278 2,074 -- 1
8 34 222 119 907 -- 1
1 40 303 94 1,365 -- --
2 99 241 99 905 -- --
-- -- -- 80 -- -- --
-- -- -- 159 -- -- --
-- -- -- 81 -- -- --
-- -- -- 32 -- -- --
6 4 27 8 34 1 1
1 11 29 18 108 -- --
22 29 33 45 46 21 21
-- 1 2 2 11 -- --
22 41 76 77 268 8 7
------ ------ ------- ------- -------- ---- ----
99 685 2,862 2,653 10,428 30 31
(39) (69) (152) (112) (564) (28) (30)
-- -- (16) (53) (208) -- --
(1) (1) (61) (46) (106) -- --
------ ------ ------- ------- -------- ---- ----
(40) (70) (229) (211) (878) (28) (30)
------ ------ ------- ------- -------- ---- ----
59 615 2,633 2,442 9,550 2 1
------ ------ ------- ------- -------- ---- ----
(38) 2,316 (1,763) (531) 2,481 3 6
------ ------ ------- ------- -------- ---- ----
(18) (557) 47,480 16,469 124,025 1 8
-- -- -- 657 -- -- --
-- -- 17 -- (27) -- --
------ ------ ------- ------- -------- ---- ----
(18) (557) 47,497 17,126 123,998 1 8
------ ------ ------- ------- -------- ---- ----
1,122 262 31,302 28,916 5,963 15 18
-- -- -- 89 -- -- --
-- -- (10) 1 8 -- --
------ ------ ------- ------- -------- ---- ----
1,122 262 31,292 29,006 5,971 15 18
------ ------ ------- ------- -------- ---- ----
1,104 (295) 78,789 46,132 129,969 16 26
------ ------ ------- ------- -------- ---- ----
$1,066 $2,021 $77,026 $45,601 $132,450 $ 19 $ 32
====== ====== ======= ======= ======== ==== ====
<Caption>
TARGET RETIREMENT
2030 FUND*
-----------------
$ 1
--
--
--
----
1
----
--
--
--
--
--
--
--
--
--
2
--
23
--
5
----
30
(30)
--
--
----
(30)
----
--
----
1
----
--
--
--
----
--
----
10
--
--
----
10
----
10
----
$ 11
====
</Table>
243
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
STATEMENT OF OPERATIONS -- (CONTINUED)
FOR THE SIX-MONTH PERIOD ENDED APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE CALIFORNIA TAX-FREE MINNESOTA
FUND FUND
------------------- ------------------
INVESTMENT INCOME:
Dividends................................................. $ -- $ --
Interest.................................................. 463 837
Securities lending........................................ -- --
Less: Foreign tax withheld................................ -- --
---- -----
Total investment income, net............................ 463 837
---- -----
EXPENSES:
Investment management and advisory fees................... 56 126
Transfer agent fees....................................... 4 4
Distribution fees
Class A................................................. 21 7
Class B................................................. 7 4
Class C................................................. 10 2
Class H................................................. -- 1
Class L................................................. -- 4
Class M................................................. -- 1
Class N................................................. -- 1
Custodian fees............................................ 2 2
Accounting services....................................... 1 1
Registration and filing fees.............................. 3 9
Board of Directors' fees.................................. -- --
Other expenses............................................ 9 13
---- -----
Total expenses (before waivers and fees paid
indirectly)............................................ 113 175
Expense waivers........................................... (8) (17)
Transfer agent waiver..................................... -- --
Fees paid indirectly...................................... (2) (2)
---- -----
Total waivers and fees paid indirectly.................. (10) (19)
---- -----
Total expenses, net..................................... 103 156
---- -----
Net investment income (loss).............................. 360 681
---- -----
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) on investments................... (7) 13
Net realized gain (loss) on futures options contracts..... -- --
Net realized gain (loss) on foreign currency
transactions............................................ -- --
---- -----
NET REALIZED GAIN (LOSS) ON INVESTMENTS, FUTURES CONTRACTS
AND FOREIGN CURRENCY TRANSACTIONS:........................ (7) 13
---- -----
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS:
Net unrealized appreciation (depreciation) of
investments............................................. (50) (220)
Net unrealized appreciation (depreciation) of futures
contracts............................................... -- --
Net unrealized appreciation (depreciation) on translation
of other assets and liabilities in foreign currencies... -- --
---- -----
NET CHANGES IN UNREALIZED APPRECIATION OR DEPRECIATION OF
INVESTMENTS, FUTURES CONTRACTS AND FOREIGN CURRENCY
TRANSACTIONS.............................................. (50) (220)
---- -----
NET GAIN(LOSS) ON INVESTMENTS, FUTURES CONTRACTS AND FOREIGN
CURRENCY TRANSACTIONS:.................................... (57) (207)
---- -----
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS................................................ $303 $ 474
==== =====
</Table>
* Relates to investments in affiliated investment companies.
The accompanying notes are an integral part of these financial statements.
244
- --------------------------------------------------------------------------------
<Table>
<Caption>
TAX-FREE NATIONAL TAX-FREE NEW YORK TOTAL RETURN BOND U.S. GOVERNMENT VALUE VALUE OPPORTUNITIES
FUND FUND FUND SECURITIES FUND FUND FUND
----------------- ----------------- ----------------- --------------- ------- -------------------
$ -- $ -- $ 83 $ -- $ 1,720 $ 2,061
2,685 351 17,449 6,119 54 62
-- -- 136 31 -- 18
-- -- -- -- (1) (38)
------ ---- -------- ------- ------- -------
2,685 351 17,668 6,150 1,773 2,103
------ ---- -------- ------- ------- -------
398 43 2,184 787 586 1,100
23 1 632 113 113 165
63 14 413 56 84 98
33 9 391 98 53 78
47 13 361 45 54 73
1 -- -- 13 -- 24
10 -- -- 42 -- 38
6 -- -- 13 -- 39
2 -- -- 4 -- 11
2 1 15 7 5 15
5 1 58 7 12 17
38 3 40 47 27 43
1 -- 4 2 1 1
36 9 154 65 36 56
------ ---- -------- ------- ------- -------
665 94 4,252 1,299 971 1,758
(80) (11) (46) (95) (8) (72)
-- -- -- -- (3) (4)
(2) (2) (13) -- (7) (12)
------ ---- -------- ------- ------- -------
(82) (13) (59) (95) (18) (88)
------ ---- -------- ------- ------- -------
583 81 4,193 1,204 953 1,670
------ ---- -------- ------- ------- -------
2,102 270 13,475 4,946 820 433
------ ---- -------- ------- ------- -------
45 44 (7,961) (2,267) 12,486 12,547
-- -- 280 -- -- --
-- -- (413) -- -- (1)
------ ---- -------- ------- ------- -------
45 44 (8,094) (2,267) 12,486 12,546
------ ---- -------- ------- ------- -------
(149) (82) (3,997) (2,313) 4,286 25,756
-- -- -- -- -- --
-- -- 723 -- -- 4
------ ---- -------- ------- ------- -------
(149) (82) (3,274) (2,313) 4,286 25,760
------ ---- -------- ------- ------- -------
(104) (38) (11,368) (4,580) 16,772 38,306
------ ---- -------- ------- ------- -------
$1,998 $232 $ 2,107 $ 366 $17,592 $38,739
====== ==== ======== ======= ======= =======
</Table>
245
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 AGGRESSIVE GROWTH ALLOCATION FUND*
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ 15,075 $ 32,907 $ 671 $ (503)
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 145,389 122,160 4,556 544
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... (33,430) 3,416 13,811 4,848
---------- ---------- -------- --------
Net increase (decrease) in net assets resulting
from operations................................. 127,034 158,483 19,038 4,889
---------- ---------- -------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... (9,652) (27,412) (498) (35)
Class B......................................... (1,770) (5,973) (30) (1)
Class C......................................... (1,134) (3,839) (51) (2)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... (168) (344) -- --
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... -- -- (33) (1)
Class B......................................... -- -- (12) --
Class C......................................... -- -- (19) --
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... -- -- -- --
Class Z......................................... -- -- -- --
---------- ---------- -------- --------
Total distributions............................. (12,724) (37,568) (643) (39)
---------- ---------- -------- --------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... (108,251) (392,975) 29,826 43,217
Class B......................................... (63,502) (139,987) 6,717 14,732
Class C......................................... (27,862) (118,673) 7,557 25,790
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... 784 1,012 -- --
Class Z......................................... -- -- -- --
---------- ---------- -------- --------
Net increase (decrease) from capital share
transactions.................................... (198,831) (650,623) 44,100 83,739
---------- ---------- -------- --------
Net increase (decrease) in net assets............. (84,521) (529,708) 62,495 88,589
NET ASSETS:
Beginning of period............................... 1,929,353 2,459,061 110,960 22,371
---------- ---------- -------- --------
End of period..................................... $1,844,832 $1,929,353 $173,455 $110,960
========== ========== ======== ========
Accumulated undistributed (distribution in excess
of) net investment income......................... $ 4,411 $ 2,060 $ 92 $ --
========== ========== ======== ========
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
246
- --------------------------------------------------------------------------------
<Table>
<Caption>
BALANCED ALLOCATION FUND* CAPITAL APPRECIATION FUND CAPITAL APPRECIATION II FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE PERIOD
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH APRIL 29, 2005**
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED THROUGH
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ 5,071 $ 2,838 $ 21,407 $ 4,278 $ (227) $ (121)
16,559 890 831,205 1,118,465 5,860 1,147
26,474 11,897 848,701 274,627 17,478 1,410
-------- -------- ----------- ---------- -------- -------
48,104 15,625 1,701,313 1,397,370 23,111 2,436
-------- -------- ----------- ---------- -------- -------
(3,574) (1,883) -- -- -- --
(661) (179) -- -- -- --
(963) (268) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(534) -- (572,135) -- (813) --
(148) -- (164,904) -- (92) --
(208) -- (185,821) -- (283) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (21,922) -- (4) --
-- -- -- -- -- --
-------- -------- ----------- ---------- -------- -------
(6,088) (2,330) (944,782) -- (1,192) --
-------- -------- ----------- ---------- -------- -------
87,598 187,765 1,617,923 1,010,045 78,060 55,083
17,111 51,526 125,190 (53,909) 9,945 6,190
30,109 69,611 584,169 230,865 31,401 19,141
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- 76,432 97,646 4 300
-- -- -- -- -- --
-------- -------- ----------- ---------- -------- -------
134,818 308,902 2,403,714 1,284,647 119,410 80,714
-------- -------- ----------- ---------- -------- -------
176,834 322,197 3,160,245 2,682,017 141,329 83,150
438,745 116,548 9,782,815 7,100,798 83,150 --
-------- -------- ----------- ---------- -------- -------
$615,579 $438,745 $12,943,060 $9,782,815 $224,479 $83,150
======== ======== =========== ========== ======== =======
$ 432 $ 559 $ 21,414 $ 7 $ (227) $ --
======== ======== =========== ========== ======== =======
<Caption>
CONSERVATIVE ALLOCATION FUND*
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005
----------------- ----------------
(UNAUDITED)
$ 1,835 $ 1,781
3,363 1,108
2,886 354
-------- --------
8,084 3,243
-------- --------
(1,309) (1,112)
(223) (127)
(434) (262)
-- --
-- --
-- --
-- --
-- --
-- --
-- --
(771) --
(162) --
(301) --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-------- --------
(3,200) (1,501)
-------- --------
6,786 35,327
2,786 9,320
11,167 16,401
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-------- --------
20,739 61,048
-------- --------
25,623 62,790
112,511 49,721
-------- --------
$138,134 $112,511
======== ========
$ 197 $ 328
======== ========
</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>
DISCIPLINED EQUITY FUND DIVIDEND AND GROWTH FUND
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ 805 $ 2,455 $ 19,207 $ 30,193
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 11,913 30,446 99,687 114,099
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... 17,246 4,992 194,261 102,952
-------- -------- ---------- ----------
Net increase (decrease) in net assets resulting
from operations................................. 29,964 37,893 313,155 247,244
-------- -------- ---------- ----------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... (305) (1,780) (14,599) (26,573)
Class B......................................... -- (24) (836) (1,659)
Class C......................................... -- (42) (872) (1,776)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... (573) (346) (1,049) (1,670)
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... -- -- (83,984) (19,192)
Class B......................................... -- -- (13,875) (3,381)
Class C......................................... -- -- (11,357) (2,925)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... -- -- (4,558) (723)
Class Z......................................... -- -- -- --
-------- -------- ---------- ----------
Total distributions............................. (878) (2,192) (131,130) (57,899)
-------- -------- ---------- ----------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... (23,469) (55,312) 148,673 131,765
Class B......................................... (3,826) (9,136) (6,210) 386
Class C......................................... (3,998) (11,195) (965) (16,919)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... 62,841 58,623 2,825 39,561
Class Z......................................... -- -- -- --
-------- -------- ---------- ----------
Net increase (decrease) from capital share
transactions.................................... 31,548 (17,020) 144,323 154,793
-------- -------- ---------- ----------
Net increase (decrease) in net assets............. 60,634 18,681 326,348 344,138
NET ASSETS:
Beginning of period............................... 364,799 346,118 2,849,011 2,504,873
-------- -------- ---------- ----------
End of period..................................... $425,433 $364,799 $3,175,359 $2,849,011
======== ======== ========== ==========
Accumulated undistributed (distribution in excess
of) net investment income......................... $ 527 $ 600 $ 3,186 $ 1,335
======== ======== ========== ==========
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
248
- --------------------------------------------------------------------------------
<Table>
<Caption>
EQUITY INCOME FUND FLOATING RATE FUND FOCUS FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE PERIOD
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH APRIL 29, 2005** FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED THROUGH PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ 5,010 $ 8,781 $ 17,949 $ 2,828 $ (10) $ 385
14,442 1,270 43 40 8,940 6,980
32,903 20,042 3,309 (284) (3,023) 3,890
-------- -------- ---------- -------- ------- --------
52,355 30,093 21,301 2,584 5,907 11,255
-------- -------- ---------- -------- ------- --------
(4,867) (6,785) (11,951) (1,821) (316) (31)
(274) (367) (305) (61) -- --
(439) (749) (5,301) (785) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(14) (17) (1,066) (158) (5) (3)
-- -- -- -- -- --
(1,088) (457) -- -- -- --
(97) (40) -- -- -- --
(149) (93) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(2) (1) -- -- -- --
-- -- -- -- -- --
-------- -------- ---------- -------- ------- --------
(6,930) (8,509) (18,623) (2,825) (321) (34)
-------- -------- ---------- -------- ------- --------
29,420 150,915 521,938 169,576 (5,603) (24,122)
209 14,075 13,464 5,656 (1,144) (5,339)
(4,139) 6,170 254,354 92,857 (2,603) (9,446)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
337 386 39,278 10,068 (22) (419)
-- -- -- -- -- --
-------- -------- ---------- -------- ------- --------
25,827 171,546 829,034 278,157 (9,372) (39,326)
-------- -------- ---------- -------- ------- --------
71,252 193,130 831,712 277,916 (3,786) (28,105)
467,812 274,682 277,916 -- 82,433 110,538
-------- -------- ---------- -------- ------- --------
$539,064 $467,812 $1,109,628 $277,916 $78,647 $ 82,433
======== ======== ========== ======== ======= ========
$ 868 $ 1,452 $ (585) $ 89 $ (10) $ 321
======== ======== ========== ======== ======= ========
<Caption>
GLOBAL COMMUNICATIONS FUND
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005
----------------- ----------------
(UNAUDITED)
$ 158 $ 262
2,397 1,458
1,216 2,275
------- -------
3,771 3,995
------- -------
(265) (95)
(29) (5)
(27) (4)
-- --
-- --
-- --
-- --
-- --
(11) (2)
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
------- -------
(332) (106)
------- -------
8,543 4,186
1,216 844
1,484 1,012
-- --
-- --
-- --
-- --
-- --
199 386
-- --
------- -------
11,442 6,428
------- -------
14,881 10,317
22,204 11,887
------- -------
$37,085 $22,204
======= =======
$ 79 $ 253
======= =======
</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>
GLOBAL FINANCIAL SERVICES FUND GLOBAL HEALTH FUND
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ 111 $ 143 $ (1,788) $ (2,905)
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 424 960 20,510 34,223
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... 3,346 1,176 26,573 29,513
------- ------- -------- --------
Net increase (decrease) in net assets resulting
from operations................................. 3,881 2,279 45,295 60,831
------- ------- -------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... (136) (158) -- --
Class B......................................... (13) (17) -- --
Class C......................................... (8) (13) -- --
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... (10) (10) -- --
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... -- -- (12,743) (8,795)
Class B......................................... -- -- (4,508) (3,502)
Class C......................................... -- -- (4,593) (3,266)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... -- -- (9,979) (64)
Class Z......................................... -- -- -- --
------- ------- -------- --------
Total distributions............................. (167) (198) (31,823) (15,627)
------- ------- -------- --------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... 684 (369) 30,549 21,305
Class B......................................... 20 (223) 4,082 (808)
Class C......................................... 90 48 10,006 5,459
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... (19) 56 10,179 152,727
Class Z......................................... -- -- -- --
------- ------- -------- --------
Net increase (decrease) from capital share
transactions.................................... 775 (488) 54,816 178,683
------- ------- -------- --------
Net increase (decrease) in net assets............. 4,489 1,593 68,288 223,887
NET ASSETS:
Beginning of period............................... 20,647 19,054 523,283 299,396
------- ------- -------- --------
End of period..................................... $25,136 $20,647 $591,571 $523,283
======= ======= ======== ========
Accumulated undistributed (distribution in excess
of) net investment income......................... $ 66 $ 122 $ (1,788) $ --
======= ======= ======== ========
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
250
- --------------------------------------------------------------------------------
<Table>
<Caption>
GLOBAL LEADERS FUND GLOBAL TECHNOLOGY FUND GROWTH ALLOCATION FUND*
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ (1,409) $ 1,880 $ (318) $ (169) $ 2,960 $ 304
52,237 68,810 5,707 5,112 14,981 320
68,081 (58,342) 3,087 1,258 32,968 14,053
-------- -------- ------- -------- -------- --------
118,909 12,348 8,476 6,201 50,909 14,677
-------- -------- ------- -------- -------- --------
(390) -- -- -- (2,496) (223)
-- -- -- -- (354) (34)
-- -- -- -- (533) (49)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(529) -- -- -- -- --
-- -- -- -- -- --
(4,725) -- -- -- (180) --
(945) -- -- -- (59) --
(851) -- -- -- (89) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(936) -- -- -- -- --
-- -- -- -- -- --
-------- -------- ------- -------- -------- --------
(8,376) -- -- -- (3,711) (306)
-------- -------- ------- -------- -------- --------
(33,042) (55,206) 4,091 (7,218) 78,015 153,777
(8,057) (12,061) (149) (1,925) 21,248 49,107
(8,282) (16,831) 21 (4,483) 35,011 75,477
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
29,268 23,402 101 (369) -- --
-- -- -- -- -- --
-------- -------- ------- -------- -------- --------
(20,113) (60,696) 4,064 (13,995) 134,274 278,361
-------- -------- ------- -------- -------- --------
90,420 (48,348) 12,540 (7,794) 181,472 292,732
654,153 702,501 51,679 59,473 371,409 78,677
-------- -------- ------- -------- -------- --------
$744,573 $654,153 $64,219 $ 51,679 $552,881 $371,409
======== ======== ======= ======== ======== ========
$ (1,410) $ 918 $ (318) $ -- $ (423) $ --
======== ======== ======= ======== ======== ========
<Caption>
GROWTH FUND
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005
----------------- ----------------
(UNAUDITED)
$ (1,930) $ (2,884)
61,480 65,368
60,238 5,174
---------- ----------
119,788 67,658
---------- ----------
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
---------- ----------
-- --
---------- ----------
39,422 216,074
(689) 11,547
2,731 31,324
-- --
(2,847) (5,076)
(21,012) (36,168)
(2,406) (3,691)
(403) (259)
75,916 38,875
-- --
---------- ----------
90,712 252,626
---------- ----------
210,500 320,284
1,155,874 835,590
---------- ----------
$1,366,374 $1,155,874
========== ==========
$ (1,930) $ --
========== ==========
</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>
GROWTH OPPORTUNITIES FUND HIGH YIELD FUND
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ (1,887) $ (2,756) $ 9,989 $ 20,563
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 110,233 144,342 (3,397) 8,198
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... 53,839 (5,473) 8,030 (25,299)
---------- -------- -------- --------
Net increase (decrease) in net assets resulting
from operations................................. 162,185 136,113 14,622 3,462
---------- -------- -------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... -- -- (6,410) (13,732)
Class B......................................... -- -- (1,276) (3,018)
Class C......................................... -- -- (1,368) (3,402)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... -- -- (873) (1,366)
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... (16,437) -- -- --
Class B......................................... (1,683) -- -- --
Class C......................................... (1,629) -- -- --
Class E......................................... -- -- -- --
Class H......................................... (3,075) -- -- --
Class L......................................... (40,032) -- -- --
Class M......................................... (1,828) -- -- --
Class N......................................... (437) -- -- --
Class Y......................................... (2,034) -- -- --
Class Z......................................... (2,353) -- -- --
---------- -------- -------- --------
Total distributions............................. (69,508) -- (9,927) (21,518)
---------- -------- -------- --------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... 94,364 148,576 941 (47,780)
Class B......................................... 10,111 5,987 (6,713) (14,067)
Class C......................................... 19,766 4,571 (9,034) (17,642)
Class E......................................... -- -- -- --
Class H......................................... (1,094) (8,150) -- --
Class L......................................... 11,404 (54,451) -- --
Class M......................................... (455) (3,811) -- --
Class N......................................... 145 (520) -- --
Class Y......................................... 28,549 21,478 (3,093) 10,715
Class Z......................................... 1,153 (4,905) -- --
---------- -------- -------- --------
Net increase (decrease) from capital share
transactions.................................... 163,943 108,775 (17,899) (68,774)
---------- -------- -------- --------
Net increase (decrease) in net assets............. 256,620 244,888 (13,204) (86,830)
NET ASSETS:
Beginning of period............................... 945,612 700,724 312,589 399,419
---------- -------- -------- --------
End of period..................................... $1,202,232 $945,612 $299,385 $312,589
========== ======== ======== ========
Accumulated undistributed (distribution in excess
of) net investment income......................... $ (1,887) $ -- $ 353 $ 291
========== ======== ======== ========
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
252
- --------------------------------------------------------------------------------
<Table>
<Caption>
INCOME ALLOCATION FUND* INCOME FUND INFLATION PLUS FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ 652 $ 880 $ 1,627 $ 2,301 $ 13,225 $ 31,636
(147) (2) (171) (326) (5,734) 4,137
(150) (758) (476) (1,740) (19,442) (23,029)
------- ------- ------- ------- ---------- ----------
355 120 980 235 (11,951) 12,744
------- ------- ------- ------- ---------- ----------
(427) (575) (798) (1,399) (7,481) (14,269)
(84) (107) (129) (234) (1,785) (3,620)
(147) (191) (110) (227) (5,516) (11,262)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (535) (494) (2,173) (2,800)
-- -- -- -- -- --
(30) (1) -- (116) (1,331) (2,567)
(7) -- -- (22) (382) (878)
(12) -- -- (22) (1,204) (2,606)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- (312) (205)
-- -- -- -- -- --
------- ------- ------- ------- ---------- ----------
(707) (874) (1,572) (2,514) (20,184) (38,207)
------- ------- ------- ------- ---------- ----------
3,186 9,355 3,725 674 (73,587) 111,228
(26) 3,192 102 694 (10,644) 14,456
1,022 3,032 453 (167) (64,506) 63,634
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- 8,044 16,873 34,220 74,962
-- -- -- -- -- --
------- ------- ------- ------- ---------- ----------
4,182 15,579 12,324 18,074 (114,517) 264,280
------- ------- ------- ------- ---------- ----------
3,830 14,825 11,732 15,795 (146,652) 238,817
31,934 17,109 56,488 40,693 1,003,777 764,960
------- ------- ------- ------- ---------- ----------
$35,764 $31,934 $68,220 $56,488 $ 857,125 $1,003,777
======= ======= ======= ======= ========== ==========
$ 2 $ 8 $ 73 $ 18 $ (2,878) $ 852
======= ======= ======= ======= ========== ==========
<Caption>
INTERNATIONAL CAPITAL APPRECIATION FUND
----------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005
------------------- ------------------
(UNAUDITED)
$ (472) $ 1,163
27,944 2,468
37,165 2,447
-------- --------
64,637 6,078
-------- --------
(526) --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
(653) --
-- --
(1,438) --
(261) --
(346) --
-- --
-- --
-- --
-- --
-- --
(837) --
-- --
-------- --------
(4,061) --
-------- --------
25,679 78,629
3,106 12,942
3,539 16,059
-- --
-- --
-- --
-- --
-- --
(21,287) 43,463
-- --
-------- --------
11,037 151,093
-------- --------
71,613 157,171
257,871 100,700
-------- --------
$329,484 $257,871
======== ========
$ (690) $ 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 INTERNATIONAL SMALL COMPANY FUND
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ 566 $ 304 $ 475 $ 879
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 14,319 22,733 19,352 12,016
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... 25,200 (1,334) 16,472 4,039
-------- -------- -------- --------
Net increase (decrease) in net assets resulting
from operations................................. 40,085 21,703 36,299 16,934
-------- -------- -------- --------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... (378) -- (704) --
Class B......................................... -- -- (83) --
Class C......................................... -- -- (145) --
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... (130) -- (1,565) (134)
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... -- -- (3,791) (2,648)
Class B......................................... -- -- (679) (419)
Class C......................................... -- -- (1,407) (1,146)
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... -- -- (7,015) (4,641)
Class Z......................................... -- -- -- --
-------- -------- -------- --------
Total distributions............................. (508) -- (15,389) (8,988)
-------- -------- -------- --------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... 23,559 178 20,360 8,749
Class B......................................... 602 (2,994) 3,075 2,062
Class C......................................... 145 (1,269) 2,428 1,851
Class E......................................... -- -- -- --
Class H......................................... -- -- -- --
Class L......................................... -- -- -- --
Class M......................................... -- -- -- --
Class N......................................... -- -- -- --
Class Y......................................... 33,106 537 9,028 18,650
Class Z......................................... -- -- -- --
-------- -------- -------- --------
Net increase (decrease) from capital share
transactions.................................... 57,412 (3,548) 34,891 31,312
-------- -------- -------- --------
Net increase (decrease) in net assets............. 96,989 18,155 55,801 39,258
NET ASSETS:
Beginning of period............................... 148,841 130,686 119,439 80,181
-------- -------- -------- --------
End of period..................................... $245,830 $148,841 $175,240 $119,439
======== ======== ======== ========
Accumulated undistributed (distribution in excess
of) net investment income......................... $ 540 $ 482 $ (2,179) $ (157)
======== ======== ======== ========
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
254
- --------------------------------------------------------------------------------
<Table>
<Caption>
MIDCAP FUND MIDCAP VALUE FUND MONEY MARKET FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL, 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ (6,994) $ (11,958) $ (980) $ (2,245) $ 4,015 $ 4,587
330,171 489,086 42,261 46,554 -- --
161,917 (18,554) 40,071 1,475 -- --
---------- ---------- -------- -------- -------- --------
485,094 458,574 81,352 45,784 4,015 4,587
---------- ---------- -------- -------- -------- --------
-- -- -- -- (3,100) (3,610)
-- -- -- -- (377) (414)
-- -- -- -- (213) (239)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- (325) (324)
-- -- -- -- -- --
(281,386) (32,520) (27,814) (21,012) -- --
(82,610) (9,709) (6,087) (4,659) -- --
(88,590) (10,682) (6,258) (5,152) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(22,904) (2,142) (3,881) (221) -- --
-- -- -- -- -- --
---------- ---------- -------- -------- -------- --------
(475,490) (55,053) (44,040) (31,044) (4,015) (4,587)
---------- ---------- -------- -------- -------- --------
236,320 (113,409) 11,340 (9,469) (2,168) (23,134)
44,172 (40,629) 1,890 (2,748) (4,277) (15,120)
55,621 (57,163) 1,368 (7,585) (3,538) (7,836)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
45,900 15,529 (12,892) 35,896 2,010 6,416
-- -- -- -- -- --
---------- ---------- -------- -------- -------- --------
382,013 (195,672) 1,706 16,094 (7,973) (39,674)
---------- ---------- -------- -------- -------- --------
391,617 207,849 39,018 30,834 (7,973) (39,674)
2,780,277 2,572,428 441,171 410,337 247,928 287,602
---------- ---------- -------- -------- -------- --------
$3,171,894 $2,780,277 $480,189 $441,171 $239,955 $247,928
========== ========== ======== ======== ======== ========
$ (6,994) $ -- $ (980) $ -- $ -- $ --
========== ========== ======== ======== ======== ========
<Caption>
RETIREMENT INCOME FUND*
----------------------------------------
FOR THE PERIOD
FOR THE SIX-MONTH SEPTEMBER 30, 2005**
PERIOD ENDED THROUGH
APRIL 30, 2006 OCTOBER 31, 2005
----------------- --------------------
(UNAUDITED)
$ 3 $--
1 (1)
2 --
---- ---
6 (1)
---- ---
(6) --
(1) --
(1) --
-- --
-- --
-- --
-- --
-- --
(1) --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
---- ---
(9) --
---- ---
254 48
149 10
121 10
-- --
-- --
-- --
-- --
-- --
101 10
-- --
---- ---
625 78
---- ---
622 77
77 --
---- ---
$699 $77
==== ===
$ (6) $--
==== ===
</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>
SELECT MIDCAP GROWTH FUND SELECT MIDCAP VALUE FUND
------------------------------------- ------------------------------------
FOR THE PERIOD FOR THE PERIOD
FOR THE SIX-MONTH JANUARY 1, 2005** FOR THE SIX-MONTH APRIL 29, 2005**
PERIOD ENDED THROUGH PERIOD ENDED THROUGH
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ----------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)..................... $ (149) $ (125) $ (35) $ (18)
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions................................... 1,262 195 1,319 609
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions.................. 3,635 336 3,187 533
------- ------- ------- -------
Net increase (decrease) in net assets resulting
from operations................................ 4,748 406 4,471 1,124
------- ------- ------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A........................................ -- -- (19) --
Class B........................................ -- -- -- --
Class C........................................ -- -- -- --
Class E........................................ -- -- -- --
Class H........................................ -- -- -- --
Class L........................................ -- -- -- --
Class M........................................ -- -- -- --
Class N........................................ -- -- -- --
Class Y........................................ -- -- (3) --
Class Z........................................ -- -- -- --
From net realized gain on investments
Class A........................................ (149) -- (504) --
Class B........................................ (24) -- (40) --
Class C........................................ (17) -- (71) --
Class E........................................ -- -- -- --
Class H........................................ -- -- -- --
Class L........................................ -- -- -- --
Class M........................................ -- -- -- --
Class N........................................ -- -- -- --
Class Y........................................ (2) -- (12) --
Class Z........................................ -- -- -- --
------- ------- ------- -------
Total distributions............................ (192) -- (649) --
------- ------- ------- -------
CAPITAL SHARE TRANSACTIONS:
Class A........................................ 5,584 14,672 13,898 21,379
Class B........................................ 1,140 2,308 1,462 1,688
Class C........................................ 1,995 1,708 2,361 2,872
Class E........................................ -- -- -- --
Class H........................................ -- -- -- --
Class L........................................ -- -- -- --
Class M........................................ -- -- -- --
Class N........................................ -- -- -- --
Class Y........................................ 28,156 206 15 500
Class Z........................................ -- -- -- --
------- ------- ------- -------
Net increase (decrease) from capital share
transactions................................... 36,875 18,894 17,736 26,439
------- ------- ------- -------
Net increase (decrease) in net assets............ 41,431 19,300 21,558 27,563
NET ASSETS:
Beginning of period.............................. 19,300 -- 27,563 --
------- ------- ------- -------
End of period.................................... $60,731 $19,300 $49,121 $27,563
======= ======= ======= =======
Accumulated undistributed (distribution in excess
of) net investment income........................ $ (149) $ -- $ (56) $ 1
======= ======= ======= =======
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
256
- --------------------------------------------------------------------------------
<Table>
<Caption>
SELECT SMALLCAP GROWTH FUND SHORT DURATION FUND SMALL COMPANY FUND
---------------------------------------- ------------------------------------ ------------------------------------
FOR THE PERIOD
FOR THE SIX-MONTH SEPTEMBER 30, 2005** FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED THROUGH PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- -------------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ (38) $ (3) $ 2,316 $ 4,306 $ (1,763) $ (3,254)
(18) (18) (557) (984) 47,497 41,153
1,122 (232) 262 (2,113) 31,292 21,065
------ ------ -------- -------- -------- --------
1,066 (253) 2,021 1,209 77,026 58,964
------ ------ -------- -------- -------- --------
-- -- (462) (1,118) -- --
-- -- (105) (246) -- --
-- -- (258) (710) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (1,474) (2,243) -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
------ ------ -------- -------- -------- --------
-- -- (2,299) (4,317) -- --
------ ------ -------- -------- -------- --------
1,193 5,445 (3,422) (9,129) (6,915) (28,458)
203 207 (1,373) (3,212) (7,317) (13,082)
361 213 (6,311) (11,289) (4,500) (13,738)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- 200 (3,425) 52,383 36,003 20,619
-- -- -- -- -- --
------ ------ -------- -------- -------- --------
1,757 6,065 (14,531) 28,753 17,271 (34,659)
------ ------ -------- -------- -------- --------
2,823 5,812 (14,809) 25,645 94,297 24,305
5,812 -- 143,438 117,793 304,079 279,774
------ ------ -------- -------- -------- --------
$8,635 $5,812 $128,629 $143,438 $398,376 $304,079
====== ====== ======== ======== ======== ========
$ (38) $ -- $ 23 $ 6 $ (1,763) $ --
====== ====== ======== ======== ======== ========
<Caption>
SMALLCAP GROWTH FUND
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005
----------------- ----------------
(UNAUDITED)
$ (531) $ (1,819)
17,126 29,026
29,006 7,825
-------- --------
45,601 35,032
-------- --------
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-- --
-------- --------
-- --
-------- --------
89,018 16,899
2,400 2,544
6,419 4,182
-- --
(1,495) (4,402)
(6,778) (12,237)
(1,464) (2,919)
(400) (983)
47,887 47,224
-- --
-------- --------
135,587 50,308
-------- --------
181,188 85,340
310,023 224,683
-------- --------
$491,211 $310,023
======== ========
$ (531) $ --
======== ========
</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>
STOCK FUND TARGET RETIREMENT 2010 FUND*
------------------------------------ ----------------------------------------
FOR THE PERIOD
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH SEPTEMBER 30, 2005**
PERIOD ENDED ENDED PERIOD ENDED THROUGH
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- --------------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss).................. $ 2,481 $ 9,225 $ 3 $--
Net realized gain (loss) on investments,
futures and options contracts and foreign
currency transactions....................... 123,998 75,380 1 --
Net unrealized appreciation (depreciation) of
investments, futures and options contracts
and foreign currency transactions........... 5,971 63,526 15 (1)
---------- ---------- ------ ---
Net increase (decrease) in net assets
resulting from operations................... 132,450 148,131 19 (1)
---------- ---------- ------ ---
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A..................................... (1,525) (5,607) (4) --
Class B..................................... -- -- (1) --
Class C..................................... -- -- (1) --
Class E..................................... -- -- -- --
Class H..................................... -- -- -- --
Class L..................................... -- -- -- --
Class M..................................... -- -- -- --
Class N..................................... -- -- -- --
Class Y..................................... (772) (1,017) (1) --
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......................... (2,297) (6,624) (7) --
---------- ---------- ------ ---
CAPITAL SHARE TRANSACTIONS:
Class A..................................... (72,034) (307,587) 1,174 12
Class B..................................... (43,857) (94,047) 134 10
Class C..................................... (23,674) (94,768) 121 10
Class E..................................... -- -- -- --
Class H..................................... -- -- -- --
Class L..................................... -- -- -- --
Class M..................................... -- -- -- --
Class N..................................... -- -- -- --
Class Y..................................... 7,700 18,040 121 10
Class Z..................................... -- -- -- --
---------- ---------- ------ ---
Net increase (decrease) from capital share
transactions................................ (131,865) (478,362) 1,550 42
---------- ---------- ------ ---
Net increase (decrease) in net assets......... (1,712) (336,855) 1,562 41
NET ASSETS:
Beginning of period........................... 1,296,102 1,632,957 41 --
---------- ---------- ------ ---
End of period................................. $1,294,390 $1,296,102 $1,603 $41
========== ========== ====== ===
Accumulated undistributed (distribution in
excess of) net investment income.............. $ 2,478 $ 2,294 $ (4) $--
========== ========== ====== ===
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
258
- --------------------------------------------------------------------------------
<Table>
<Caption>
TARGET RETIREMENT 2020 FUND* TARGET RETIREMENT 2030 FUND* TAX-FREE CALIFORNIA FUND
---------------------------------------- ---------------------------------------- ------------------------------------
FOR THE PERIOD FOR THE PERIOD
FOR THE SIX-MONTH SEPTEMBER 30, 2005** FOR THE SIX-MONTH SEPTEMBER 30, 2005** FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED THROUGH PERIOD ENDED THROUGH PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 30, 2005
----------------- -------------------- ----------------- -------------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ 6 $ -- $ 1 $-- $ 360 $ 629
8 (1) -- -- (7) 60
18 1 10 (1) (50) (77)
---- ---- ---- --- ------- -------
32 -- 11 (1) 303 612
---- ---- ---- --- ------- -------
(11) -- (3) -- (313) (548)
-- -- (2) -- (20) (33)
-- -- (1) -- (30) (47)
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- (1) -- -- --
-- -- -- -- -- --
-- -- -- -- (10) --
-- -- -- -- (1) --
-- -- -- -- (1) --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
---- ---- ---- --- ------- -------
(11) -- (7) -- (375) (628)
---- ---- ---- --- ------- -------
412 144 150 10 2,856 763
22 10 68 10 276 293
15 10 39 10 156 492
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- 10 21 10 -- --
-- -- -- -- -- --
---- ---- ---- --- ------- -------
449 174 278 40 3,288 1,548
---- ---- ---- --- ------- -------
470 174 282 39 3,216 1,532
174 -- 39 -- 18,843 17,311
---- ---- ---- --- ------- -------
$644 $174 $321 $39 $22,059 $18,843
==== ==== ==== === ======= =======
$ (5) $ -- $ (6) $-- $ -- $ 3
==== ==== ==== === ======= =======
<Caption>
TAX-FREE MINNESOTA FUND
-------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED APRIL ENDED
APRIL 30, 2006 OCTOBER 31, 2005
------------------ ----------------
(UNAUDITED)
$ 681 $ 1,341
13 57
(220) (802)
------- -------
474 596
------- -------
(115) (188)
(12) (22)
(7) (11)
(488) (1,013)
(2) (4)
(55) (108)
(2) (4)
(3) (6)
-- --
-- --
(9) --
(1) --
(1) --
(41) --
-- --
(5) --
-- --
-- --
-- --
-- --
------- -------
(741) (1,356)
------- -------
669 1,369
(28) 186
(26) 105
(988) (1,020)
2 3
(102) 185
(2) (75)
(6) (13)
-- 9
-- --
------- -------
(481) 749
------- -------
(748) (11)
35,889 35,900
------- -------
$35,141 $35,889
======= =======
$ (2) $ 1
======= =======
</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 NATIONAL FUND TAX-FREE NEW YORK FUND
------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL 30, 2006 OCTOBER 31, 2005 APRIL 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED)
OPERATIONS:
Net investment income (loss)...................... $ 2,102 $ 3,645 $ 270 $ 486
Net realized gain (loss) on investments, futures
and options contracts and foreign currency
transactions.................................... 45 698 44 32
Net unrealized appreciation (depreciation) of
investments, futures and options contracts and
foreign currency transactions................... (149) (1,637) (82) (160)
-------- -------- ------- -------
Net increase (decrease) in net assets resulting
from operations................................. 1,998 2,706 232 358
-------- -------- ------- -------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A......................................... (1,038) (1,544) (208) (378)
Class B......................................... (111) (210) (27) (46)
Class C......................................... (159) (258) (40) (61)
Class E......................................... (631) (1,259) -- --
Class H......................................... (4) (14) -- --
Class L......................................... (161) (301) -- --
Class M......................................... (21) (42) -- --
Class N......................................... (8) (17) -- --
Class Y......................................... -- -- -- --
Class Z......................................... -- -- -- --
From net realized gain on investments
Class A......................................... (316) -- (23) (17)
Class B......................................... (46) -- (4) (2)
Class C......................................... (58) -- (5) (3)
Class E......................................... (210) -- -- --
Class H......................................... (2) -- -- --
Class L......................................... (54) -- -- --
Class M......................................... (9) -- -- --
Class N......................................... (3) -- -- --
Class Y......................................... -- -- -- --
Class Z......................................... -- -- -- --
-------- -------- ------- -------
Total distributions............................. (2,831) (3,645) (307) (507)
-------- -------- ------- -------
CAPITAL SHARE TRANSACTIONS:
Class A......................................... 12,524 11,403 (116) 763
Class B......................................... (138) 713 (70) 244
Class C......................................... 2,123 224 7 733
Class E......................................... (1,488) (848) -- --
Class H......................................... (59) (360) -- --
Class L......................................... 106 339 -- --
Class M......................................... (60) (91) -- --
Class N......................................... (28) (48) -- --
Class Y......................................... -- 9 -- --
Class Z......................................... -- -- -- --
-------- -------- ------- -------
Net increase (decrease) from capital share
transactions.................................... 12,980 11,341 (179) 1,740
-------- -------- ------- -------
Net increase (decrease) in net assets............. 12,147 10,402 (254) 1,591
NET ASSETS:
Beginning of period............................... 102,588 92,186 15,673 14,082
-------- -------- ------- -------
End of period..................................... $114,735 $102,588 $15,419 $15,673
======== ======== ======= =======
Accumulated undistributed (distribution in excess
of) net investment income......................... $ (10) $ 21 $ (1) $ 4
======== ======== ======= =======
</Table>
* Relates to investments in affiliated investment companies.
** Commencement of operations.
The accompanying notes are an integral part of these financial statements.
260
- --------------------------------------------------------------------------------
<Table>
<Caption>
TOTAL RETURN BOND FUND U.S. GOVERNMENT SECURITIES FUND VALUE FUND
------------------------------------ ------------------------------------ ------------------------------------
FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED PERIOD ENDED ENDED PERIOD ENDED ENDED
APRIL, 30, 2006 OCTOBER 31, 2005 APRIL, 30, 2006 OCTOBER 31, 2005 APRIL, 30, 2006 OCTOBER 31, 2005
----------------- ---------------- ----------------- ---------------- ----------------- ----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
$ 13,475 $ 19,599 $ 4,946 $ 10,461 $ 820 $ 1,031
(8,094) 5,437 (2,267) (2,240) 12,486 3,426
(3,274) (20,037) (2,313) (6,406) 4,286 8,587
-------- -------- -------- -------- -------- --------
2,107 4,999 366 1,815 17,592 13,044
-------- -------- -------- -------- -------- --------
(6,548) (11,070) (1,027) (2,127) (474) (209)
(1,250) (2,517) (377) (834) -- --
(1,185) (2,408) (175) (422) -- --
-- -- (2,454) (5,161) -- --
-- -- (49) (119) -- --
-- -- (779) (1,590) -- --
-- -- (50) (111) -- --
-- -- (16) (35) -- --
(4,924) (6,306) (116) (292) (780) (328)
-- -- -- -- -- --
(1,753) (1,135) -- -- -- --
(454) (350) -- -- -- --
(413) (338) -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
-- -- -- -- -- --
(1,059) (399) -- -- -- --
-- -- -- -- -- --
-------- -------- -------- -------- -------- --------
(17,586) (24,523) (5,043) (10,691) (1,254) (537)
-------- -------- -------- -------- -------- --------
55,414 22,124 (1,782) (4,366) 1,024 209
(2,363) (8,201) (2,717) (4,109) (199) 179
(637) (13,022) (1,034) (3,870) (139) (1,706)
-- -- (7,864) (10,531) -- --
-- -- (392) (1,078) -- --
-- -- (2,007) (2,425) -- --
-- -- (292) (830) -- --
-- -- (83) (179) -- --
81,312 91,775 (9,229) 9,491 (18,327) 34,771
-- -- -- -- -- --
-------- -------- -------- -------- -------- --------
133,726 92,676 (25,400) (17,897) (17,641) 33,453
-------- -------- -------- -------- -------- --------
118,247 73,152 (30,077) (26,773) (1,303) 45,960
654,780 581,628 233,976 260,749 143,964 98,004
-------- -------- -------- -------- -------- --------
$773,027 $654,780 $203,899 $233,976 $142,661 $143,964
======== ======== ======== ======== ======== ========
$ 241 $ 673 $ (7) $ 90 $ 425 $ 859
======== ======== ======== ======== ======== ========
<Caption>
VALUE OPPORTUNITIES FUND
------------------------------------
FOR THE SIX-MONTH FOR THE YEAR
PERIOD ENDED ENDED
APRIL, 30, 2006 OCTOBER 31, 2005
----------------- ----------------
(UNAUDITED)
$ 433 $ 419
12,546 11,628
25,760 (2,335)
-------- ----------------
38,739 9,712
-------- ----------------
-- --
-- --
-- --
-- --
-- --
(39) --
-- --
-- --
(358) --
-- --
(2,133) --
(467) --
(454) --
-- --
(158) --
(881) --
(254) --
(68) --
(3,035) --
-- --
-------- ----------------
(7,847) --
-------- ----------------
17,110 39,283
2,188 7,330
2,209 7,207
-- --
(860) (1,751)
1,036 (783)
(760) (1,496)
14 (356)
(10,409) 83,958
-- --
-------- ----------------
10,528 133,392
-------- ----------------
41,420 143,104
230,926 87,822
-------- ----------------
$272,346 $ 230,926
======== ================
$ 433 $ 397
======== ================
</Table>
261
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
1. ORGANIZATION:
The Hartford Mutual Funds, Inc. and The Hartford Mutual Funds II, Inc. (the
Companies) are open-end management investment companies comprised of
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 Floating Rate Fund, 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%.
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 M
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.
262
- --------------------------------------------------------------------------------
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 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 -- Except for the Money Market
Fund, the Funds (through certain Underlying Funds in the case of a Fund
of Funds) generally use market prices in valuing portfolio securities.
If market quotations are not readily available or are deemed unreliable,
a Fund (through certain Underlying Funds in the case of a Fund of 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 (or in the case of a Fund of Funds,
the Boards of Directors of the Underlying Funds). Market prices may be
deemed unreliable, for example, if a security is thinly traded or if an
event has occurred after the close of the exchange on which a portfolio
security is principally traded but before the close of the New York
Stock Exchange (NYSE) that is expected to affect the value of the
portfolio security. The circumstances in which a Fund (through certain
Underlying Funds in the case of Fund of Funds) 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, each Fund (through
certain Underlying Funds in the case of Fund of Funds), and in
particular, Advisers Fund, Capital Appreciation Fund, Global
Communications Fund, Global Financial Services Fund, Global Health Fund,
Global Leaders Fund, Global Technology Fund, Growth Opportunities Fund,
International Capital Appreciation Fund, International Opportunities
Fund, International Small Company Fund, MidCap Fund, MidCap Value Fund,
Small Company Fund, Stock Fund and Value Opportunities Fund, uses a fair
value pricing service approved by that Fund's Board of Directors (or in
the case of Fund of Funds, the Board of Directors of the Underlying
Funds), which employs quantitative models to adjust for "stale" prices
caused by the movement of other markets and other factors occurring
after the close of the foreign markets but before the close of the NYSE.
Securities that are principally traded on foreign markets may trade on
days that are not business days of the Funds. Because the NAV of each
Fund's shares is determined only on business days of the Funds, the
value of the portfolio securities of a Fund that invests in foreign
securities may change on days when a shareholder will not be able to
purchase or redeem shares of the Fund. Fair value pricing is subjective
in nature and the use of fair value pricing by the Funds (through
certain Underlying Funds in the case of a Fund of Funds) may cause the
net asset value of their respective shares to differ significantly from
the net asset value that would have been calculated using prevailing
market values. There can be no assurance that any Fund (through certain
Underlying Funds in the case of a Fund of Funds) could obtain the fair
value assigned to a security if it (through certain Underlying Funds in
the case of Fund of Funds) were to sell the security at approximately
the time at which that Fund determines its NAV per share.
Debt securities (other than short-term obligations and Floating Rate
Loans), held by the Fund (through certain Underlying Funds in the case
of a Fund of Funds) 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. Floating Rate Loans
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 securities or from a widely-used
quotation system in accordance with procedures established by that
Fund's Board of Directors (or in the case of a Fund of Funds, the Board
of Directors of the Underlying Funds). Generally, each Fund, and in
particular, High Yield Fund and Income Fund may use fair valuation in
regards to debt securities when a Fund holds defaulted or distressed
securities or securities in a company in which a reorganization is
pending. Short term investments with a maturity of more than 60 days
when purchased are valued based on market quotations until the remaining
days to maturity become less than 61 days. The Money Market Fund's
investments are valued at amortized cost, which approximates market
value.
Securities of foreign issuers and non-dollar securities are translated
from the local currency into U.S. dollars using prevailing exchange
rates.
Options are valued at the last sales price. If no sale took place on
such day, then options are valued at the mean between the bid and asked
prices.
Securities for which 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 an approved quotation system.
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.
263
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
The Funds do not isolate that portion of portfolio security valuation
resulting from fluctuations in foreign currency exchange rates on
portfolio securities from the fluctuations arising from changes in the
market prices of securities held. Such fluctuations are included with
the net realized and unrealized gain or loss on investments in the
accompanying financial statements.
Net realized foreign exchange gains or losses arise from sales of
foreign currencies and the difference between asset and liability
amounts initially stated in foreign currencies and the U.S. dollar value
of the amounts actually received or paid. Net unrealized foreign
exchange gains or losses arise from changes in the value of other assets
and liabilities at the end of the reporting period, resulting from
changes in the exchange rates.
d) Securities Lending -- The Funds, except for the Money Market Fund, may
lend their securities to certain qualified brokers who pay these Funds
negotiated lender fees. The loans are collateralized at all times with
cash, 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 $2,053,287 dated 4/28/06
with Bank of America, J.P. Morgan Chase and UBS Securities, LLC due
5/1/06. These joint repurchase agreements are collateralized as follows:
<Table>
<Caption>
COLLATERAL
BROKER RATE PRINCIPAL VALUE SECURITY TYPE COUPON RATE MATURITY
------ ----- ---------- ---------- ------------------ --------------- ------------
Bank of America
Securities............. 4.78% $ 355,000 $ 362,100 FNMA 5.00% 2036
Credit Suisse First
Boston................. 4.79% 235,000 239,702 FNMA 4.00% - 10.50% 2020 - 2035
Deutsche Bank
Securities............. 4.79% 360,000 367,200 FHLMC 6.00% 2034
FNMA 4.50% - 6.00% 2018 - 2036
J.P. Morgan Chase........ 4.76% 145,000 147,297 FNMA 4.00% - 9.00% 2008 - 2036
Morgan Stanley & Co.,
Inc. .................. 4.78% 325,000 329,523 FHLMC 5.00% 2035
FNMA 4.50% - 5.00% 2018 - 2035
UBS Securities, LLC...... 4.77% 580,000 591,601 FHLMC 4.00% - 10.50% 2008 - 2035
FNMA 4.00% - 11.50% 2006 - 2036
UBS Securities, LLC...... 4.70% 53,287 54,823 U.S. Treasury Bond 2.375% 2025
---------- ----------
$2,053,287 $2,092,246
========== ==========
</Table>
The maturity amounts are as follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
Advisers Fund............................................... $ 26,585
Capital Appreciation Fund................................... 858,529
Capital Appreciation II Fund................................ 11,579
Disciplined Equity Fund..................................... 5,993
Dividend and Growth Fund.................................... 79,459
Equity Income Fund.......................................... 10,408
Focus Fund.................................................. 169
Global Communications Fund.................................. 725
Global Financial Services................................... 622
Global Health Fund.......................................... 10,278
Global Leaders Fund......................................... 10,677
Global Technology Fund...................................... 275
Growth Fund................................................. 5,554
International Capital Appreciation Fund..................... 13,913
International Opportunities Fund............................ 5,632
International Small Company Fund............................ 6,467
</Table>
264
- --------------------------------------------------------------------------------
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
MidCap Fund................................................. 55,746
MidCap Value Fund........................................... 9,138
Small Company Fund.......................................... 3,758
Stock Fund.................................................. 5,938
Value Fund.................................................. 4,640
Value Opportunities Fund.................................... 4,725
</Table>
Certain Funds, together with other investment management companies
having investment advisory agreements with Hartford Investment, have an
interest in joint repurchase agreements in the amount of $1,046,821
dated 4/28/06 with BNP Paribas Securities Corp., RBS Greenwich Capital
Markets and UBS Warburg Securities, Inc. due 5/1/06. These joint
repurchase agreements are collateralized as follows:
<Table>
<Caption>
COLLATERAL
BROKER RATE PRINCIPAL VALUE SECURITY TYPE COUPON RATE MATURITY
------ ----- ---------- ---------- ------------------- --------------- ------------
BNP Paribas Securities
Corp. ................. 4.67% $ 350,000 $ 360,460 U.S. Treasury Bonds 6.75% - 8.00% 2016 - 2026
U.S. Treasury Bills 4.54% 2006
RBS Greenwich Capital
Markets................ 4.65% 325,000 332,180 U.S. Treasury Bonds 7.25% - 7.625% 2016 - 2025
U.S. Treasury Notes 3.50% - 4.00% 2007 - 2014
UBS Warburg Securities,
Inc. .................. 4.68% 371,821 379,754 U.S. Treasury Note 4.625% 2006
---------- ----------
$1,046,821 $1,062,394
========== ==========
</Table>
The maturity amounts are as follows:
<Table>
<Caption>
MATURITY
FUND AMOUNT
---- --------
Floating Rate Fund.......................................... $ 54,088
Income Fund................................................. 435
Short Duration Fund......................................... 5,847
Total Return Bond Fund...................................... 155,716
U.S. Government Securities Fund............................. 15
</Table>
The SmallCap Growth Fund has an interest in a repurchase agreement in
the amount of $8,590 dated 4/28/06 with Deutsche Bank., 4.71% due
5/1/06. This repurchase agreement is collateralized by $8,787 in a U.S.
Treasury Bond 8.875% due 2017.
In addition, Capital Appreciation Fund had collateral for securities out
on loan in repurchase agreements. The Capital Appreciation Fund lending
agreement is collateralized by an interest in a repurchase agreement in
the amount of $6,383 dated 4/28/06 with Lehman Brothers, Inc., 4.73% due
5/1/06. This repurchase agreement is collateralized by $6,511 in
Financing Corp., Zero Coupon Strip, 5.71% due 2018.
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. Options shall be valued at their most recent sale price on the
Primary Market on which the instrument is traded. If the instrument did
not trade on the Primary Market, it may be valued at the most recent
sale price on another exchange or market where it did trade. 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.
High Yield Fund, Income Fund, Inflation Plus Fund and SmallCap Growth
Fund had outstanding futures contracts as of April 30, 2006.
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.
265
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
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 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
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 six-month period ended April 30, 2006 are summarized below:
<Table>
<Caption>
HARTFORD CAPITAL APPRECIATION FUND OPTIONS CONTRACTS
ACTIVITY DURING THE SIX-MONTH PERIOD ENDED APRIL 30, 2006
-----------------------------------------------------------------
CALL OPTIONS WRITTEN DURING THE PERIOD NUMBER OF CONTRACTS PREMIUM AMOUNTS REALIZED GAINS (LOSSES)
-------------------------------------- ------------------- --------------- -----------------------
Beginning of the period............................... -- $ -- $ --
Written............................................... 12 2,803 --
Expired............................................... -- -- --
Closed................................................ (7) (1,469) (2,062)
Exercised............................................. -- -- --
-- ------- -------
End of the period..................................... 5 $ 1,334 $(2,062)
-- ------- -------
</Table>
h) Forward Foreign Currency Contracts -- For the six-month period ended
April 30, 2006, 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. As of April 30, 2006, Hartford Global
Technology Fund and the Hartford Small Company Fund had investments in
indexed securities. These securities are included on the Fund's schedule
of investments under Exchange Traded Funds.
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, 2006. 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 FOR THE PERIOD ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
------------------------------- -------------------------------
TAX LONG-TERM TAX LONG-TERM
EXEMPT ORDINARY CAPITAL EXEMPT ORDINARY CAPITAL
INCOME INCOME GAINS INCOME INCOME 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 -- -- -- --
</Table>
266
- --------------------------------------------------------------------------------
<Table>
<Caption>
FOR THE PERIOD ENDED FOR THE PERIOD ENDED
OCTOBER 31, 2005 OCTOBER 31, 2004
------------------------------- -------------------------------
TAX LONG-TERM TAX LONG-TERM
EXEMPT ORDINARY CAPITAL EXEMPT ORDINARY CAPITAL
INCOME INCOME GAINS INCOME INCOME GAINS
------ -------- --------- ------ -------- ---------
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
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.................................... -- 4,587 -- -- 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>
TOTAL
UNDISTRIBUTED UNDISTRIBUTED ACCUMULATED UNREALIZED ACCUMULATED
ORDINARY LONG-TERM CAPITAL 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
</Table>
267
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
TOTAL
UNDISTRIBUTED UNDISTRIBUTED ACCUMULATED UNREALIZED ACCUMULATED
ORDINARY LONG-TERM CAPITAL GAINS APPRECIATION EARNINGS
INCOME CAPITAL GAIN (LOSSES)* (DEPRECIATION)** (DEFICIT)
------------- ------------- ------------- ---------------- -----------
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)
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)
</Table>
268
- --------------------------------------------------------------------------------
<Table>
<Caption>
UNDISTRIBUTED ACCUMULATED
NET INVESTMENT NET REALIZED PAID-IN-
INCOME GAIN (LOSS) CAPITAL
-------------- ------------ --------
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)
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 of 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 -- --
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>
269
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
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.
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 Money Market Fund
will be declared daily and paid monthly. Dividends from 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
2, j, (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 that Fund's 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 segregated in their records with value at least equal
to the amount of the commitment. As of April 30, 2006, the Funds entered
into outstanding when-issued or forward commitments as follows:
<Table>
<Caption>
FUND COST
---- --------
Advisers Fund............... $ 832
International Small Company
Fund...................... 113
MidCap Fund................. 118
Tax-Free Minnesota Fund..... 1,021
Tax-Free National Fund...... 1,115
Total Return Bond Fund...... 108,537
</Table>
270
- --------------------------------------------------------------------------------
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 Interests -- Floating Rate Fund invests at least
80% of its assets in below investment-grade or floating rate loans and
floating rate securities. The major factors affecting this Fund's
performance are credit, liquidity and interest rate risk. 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. Accordingly, the
potential for the value of a Floating Rate 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 Select MidCap Value Fund and with Jennison Associates,
LLC (Jennison) and Oberweis Asset Management, Inc. (Oberweis) for 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 or
Wellington, as applicable.
The schedule below reflects the rates of compensation paid to HIFSCO for
investment advisory services rendered during the six-month period ended
April 30, 2006:
MONEY MARKET FUND
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL FEE
- ------------------------ ----------
On first $500 million.............................................. .50%
On next $500 million............................................... .45%
On next $4 billion................................................. .40%
On next $5 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 billion................................................. .68%
Over $10 billion................................................... .67%
</Table>
271
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
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 billion................................................. .50%
On next $5 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>
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 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 waive 0.05% of the
management fees until October 31, 2006.
272
- --------------------------------------------------------------------------------
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 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 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>
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) HIFSCO has agreed to waive the management fee through July 31, 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
six-month period ended April 30, 2006, the following revenues were
received by HIFSCO:
<Table>
<Caption>
FRONT-END LOAD CONTINGENT DEFERRED
SALES CHARGE SALES CHARGE
-------------- -------------------
HIFSCO...................................................... $58,703 $3,917
</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
273
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
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 six-month period ended April 30, 2006, total sales commissions
paid to affiliated brokers/dealers of The Hartford for distributing the
Funds' shares were $2,893. 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 six-month period ended April 30, 2006, 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............... 1.18% 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.......... 1.05% NA NA NA NA NA NA NA
Focus Fund.................. 1.50% 2.25% 2.25% NA NA NA NA 1.10%
Global Communications
Fund...................... 1.15% 1.90% 1.90% NA NA NA NA 0.75%
Global Financial Services
Fund...................... 1.15% 1.90% 1.90% NA NA NA NA 0.75%
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%
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............. 1.20% 1.95% 1.95% NA NA NA NA 0.80%
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.................. 1.28% 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.
274
- --------------------------------------------------------------------------------
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.
d) Fees Paid Indirectly -- The Funds have entered into agreements 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 six-month period ended
April 30, 2006, these amounts are included in the Statement of
Operations.
The ratio of expenses to average net assets excludes expenses paid
indirectly in the financial highlights. Had the expenses paid indirectly
been included, the annualized expense ratio for the periods listed below
would have been as follows:
<Table>
<Caption>
SIX-MONTH YEAR ENDED YEAR ENDED
PERIOD ENDED OCTOBER 31, OCTOBER 31,
FUND APRIL 30, 2006 2005 2004
---- -------------- ----------- -----------
ADVISERS FUND
Class A Shares.............................................. 1.10% 1.18% 1.22%
Class B Shares.............................................. 1.89% 1.96% 1.94%
Class C Shares.............................................. 1.81% 1.88% 1.86%
Class Y Shares.............................................. 0.64% 0.73% 0.74%
CAPITAL APPRECIATION FUND
Class A Shares.............................................. 1.17% 1.22% 1.32%
Class B Shares.............................................. 1.95% 1.99% 2.03%
Class C Shares.............................................. 1.87% 1.91% 1.94%
Class Y Shares.............................................. 0.73% 0.75% 0.76%
CAPITAL APPRECIATION II FUND
Class A Shares.............................................. 1.60% 1.60%**
Class B Shares.............................................. 2.30% 2.35%**
Class C Shares.............................................. 2.35% 2.35%**
Class Y Shares.............................................. 1.14% 1.15%**
DISCIPLINED EQUITY FUND
Class A Shares.............................................. 1.39% 1.38% 1.44%
Class B Shares.............................................. 2.06% 2.13% 2.14%
Class C Shares.............................................. 2.09% 2.10% 2.09%
Class Y Shares.............................................. 0.88% 0.89% 0.87%
DIVIDEND AND GROWTH FUND
Class A Shares.............................................. 1.13% 1.16% 1.22%
Class B Shares.............................................. 1.98% 2.01% 2.03%
Class C Shares.............................................. 1.86% 1.88% 1.89%
Class Y Shares.............................................. 0.69% 0.72% 0.74%
EQUITY INCOME FUND
Class A Shares.............................................. 1.01% 0.50% 0.56%
Class B Shares.............................................. 1.86% 1.38% 1.36%
Class C Shares.............................................. 1.72% 1.22% 1.19%
Class Y Shares.............................................. 0.59% 0.10% 0.10%
FLOATING RATE FUND
Class A Shares.............................................. 0.38%
Class B Shares.............................................. 1.24%
Class C Shares.............................................. 1.16%
Class Y Shares.............................................. 0.08%
FOCUS FUND
Class A Shares.............................................. 1.48% 1.57% 1.59%
Class B Shares.............................................. 2.23% 2.32% 2.32%
Class C Shares.............................................. 2.23% 2.32% 2.25%
Class Y Shares.............................................. 1.05% 1.13% 1.08%
GLOBAL COMMUNICATIONS FUND
Class A Shares.............................................. 1.15% 1.49% 1.63%
Class B Shares.............................................. 1.71% 2.24% 2.33%
Class C Shares.............................................. 1.90% 2.23% 2.33%
Class Y Shares.............................................. 0.75% 1.04% 1.17%
</Table>
275
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX-MONTH YEAR ENDED YEAR ENDED
PERIOD ENDED OCTOBER 31, OCTOBER 31,
FUND APRIL 30, 2006 2005 2004
---- -------------- ----------- -----------
GLOBAL FINANCIAL SERVICES FUND
Class A Shares.............................................. 1.15% 1.48% 1.63%
Class B Shares.............................................. 1.79% 2.25% 2.33%
Class C Shares.............................................. 1.88% 2.25% 2.33%
Class Y Shares.............................................. 0.74% 1.07% 1.18%
GLOBAL HEALTH FUND
Class A Shares.............................................. 1.58% 1.58% 1.63%
Class B Shares.............................................. 2.26% 2.33% 2.34%
Class C Shares.............................................. 2.32% 2.33% 2.34%
Class Y Shares.............................................. 1.08% 1.06% 1.10%
GLOBAL LEADERS FUND
Class A Shares.............................................. 1.43% 1.36% 1.53%
Class B Shares.............................................. 2.13% 2.23% 2.26%
Class C Shares.............................................. 2.18% 2.13% 2.15%
Class Y Shares.............................................. 0.92% 0.85% 0.84%
GLOBAL TECHNOLOGY FUND
Class A Shares.............................................. 1.31% 1.53% 1.60%
Class B Shares.............................................. 1.96% 2.28% 2.30%
Class C Shares.............................................. 2.19% 2.28% 2.30%
Class Y Shares.............................................. 1.19% 1.13% 1.09%
GROWTH FUND
Class A Shares.............................................. 1.31% 1.31% 1.43%
Class B Shares.............................................. 2.05% 2.13% 2.13%
Class C Shares.............................................. 1.98% 2.03% 2.05%
Class H Shares.............................................. 1.76% 1.79% 1.80%
Class L Shares.............................................. 1.02% 1.04% 1.05%
Class M Shares.............................................. 1.76% 1.79% 1.80%
Class N Shares.............................................. 1.77% 1.79% 1.80%
Class Y Shares.............................................. 0.79% 0.83% 0.85%
GROWTH OPPORTUNITIES FUND
Class A Shares.............................................. 1.17% 1.30% 1.40%
Class B Shares.............................................. 2.05% 2.08% 2.10%
Class C Shares.............................................. 2.06% 2.07% 2.06%
Class H Shares.............................................. 1.79% 1.77% 1.78%
Class L Shares.............................................. 1.04% 1.02% 1.03%
Class M Shares.............................................. 1.79% 1.77% 1.78%
Class N Shares.............................................. 1.79% 1.77% 1.78%
Class Y Shares.............................................. 0.82% 0.82% 0.77%
Class Z Shares.............................................. 0.79% 0.77% 0.78%
HIGH YIELD FUND
Class A Shares.............................................. 1.20% 1.33%
Class B Shares.............................................. 1.95% 2.10%
Class C Shares.............................................. 1.89% 2.00%
Class Y Shares.............................................. 0.72% 0.87%
INCOME FUND
Class A Shares.............................................. 0.95% 0.95%
Class B Shares.............................................. 1.70% 1.70%
Class C Shares.............................................. 1.70% 1.70%
Class Y Shares.............................................. 0.70% 0.70%
INFLATION PLUS FUND
Class A Shares.............................................. 0.95% 0.95%
Class B Shares.............................................. 1.70% 1.70%
Class C Shares.............................................. 1.70% 1.70%
Class Y Shares.............................................. 0.68% 0.68%
INTERNATIONAL CAPITAL APPRECIATION FUND
Class A Shares.............................................. 1.58% 1.53% 1.59%
Class B Shares.............................................. 2.26% 2.28% 2.29%
Class C Shares.............................................. 2.33% 2.28% 2.28%
Class Y Shares.............................................. 1.13% 1.13% 1.05%
</Table>
276
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX-MONTH YEAR ENDED YEAR ENDED
PERIOD ENDED OCTOBER 31, OCTOBER 31,
FUND APRIL 30, 2006 2005 2004
---- -------------- ----------- -----------
INTERNATIONAL OPPORTUNITIES FUND
Class A Shares.............................................. 1.51% 1.52% 1.60%
Class B Shares.............................................. 2.09% 2.30% 2.30%
Class C Shares.............................................. 2.32% 2.30% 2.30%
Class Y Shares.............................................. 1.02% 1.01% 1.03%
INTERNATIONAL SMALL COMPANY FUND
Class A Shares.............................................. 1.55% 1.55% 1.60%
Class B Shares.............................................. 2.22% 2.30% 2.30%
Class C Shares.............................................. 2.33% 2.30% 2.29%
Class Y Shares.............................................. 1.18% 1.15% 1.15%
MIDCAP FUND
Class A Shares.............................................. 1.24% 1.28% 1.36%
Class B Shares.............................................. 2.01% 2.06% 2.10%
Class C Shares.............................................. 1.93% 1.97% 2.00%
Class Y Shares.............................................. 0.78% 0.81% 0.84%
MIDCAP VALUE FUND
Class A Shares.............................................. 1.39% 1.38% 1.43%
Class B Shares.............................................. 2.13% 2.13% 2.13%
Class C Shares.............................................. 2.14% 2.13% 2.13%
Class Y Shares.............................................. 0.93% 0.94% 0.88%
MONEY MARKET FUND
Class A Shares.............................................. 0.95% 0.95%
Class B Shares.............................................. 1.70% 1.70%
Class C Shares.............................................. 1.70% 1.70%
Class Y Shares.............................................. 0.55% 0.55%
SELECT MIDCAP GROWTH FUND
Class A Shares.............................................. 1.50% 1.49%*
Class B Shares.............................................. 2.12% 2.24%*
Class C Shares.............................................. 2.23% 2.24%*
Class Y Shares.............................................. 0.89% 1.09%*
SELECT MIDCAP VALUE FUND
Class A Shares.............................................. 1.52% 1.54%**
Class B Shares.............................................. 2.25% 2.29%**
Class C Shares.............................................. 2.27% 2.29%**
Class Y Shares.............................................. 1.12% 1.14%**
SELECT SMALLCAP GROWTH FUND
Class A Shares.............................................. 1.65%
Class B Shares.............................................. 2.40%
Class C Shares.............................................. 2.41%
Class Y Shares.............................................. 1.75%
SHORT DURATION FUND
Class A Shares.............................................. 0.90% 0.90%
Class B Shares.............................................. 1.65% 1.65%
Class C Shares.............................................. 1.65% 1.65%
Class Y Shares.............................................. 0.65% 0.65%
SMALL COMPANY FUND
Class A Shares.............................................. 1.38% 1.35% 1.40%
Class B Shares.............................................. 2.08% 2.10% 2.10%
Class C Shares.............................................. 2.13% 2.10% 2.10%
Class Y Shares.............................................. 0.94% 0.92% 0.94%
SMALLCAP GROWTH FUND
Class A Shares.............................................. 1.30% 1.38% 1.44%
Class B Shares.............................................. 2.01% 2.13% 2.14%
Class C Shares.............................................. 2.14% 2.13% 2.14%
Class H Shares.............................................. 1.88% 1.95% 1.97%
Class L Shares.............................................. 1.13% 1.20% 1.42%
Class M Shares.............................................. 1.88% 1.95% 1.97%
Class N Shares.............................................. 1.88% 1.95% 1.97%
Class Y Shares.............................................. .90% 0.97% 1.02%
</Table>
277
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX-MONTH YEAR ENDED YEAR ENDED
PERIOD ENDED OCTOBER 31, OCTOBER 31,
FUND APRIL 30, 2006 2005 2004
---- -------------- ----------- -----------
STOCK FUND
Class A Shares.............................................. 1.25% 1.31% 1.42%
Class B Shares.............................................. 2.07% 2.21% 2.18%
Class C Shares.............................................. 2.01% 2.07% 2.03%
Class Y Shares.............................................. 0.75% 0.82% 0.80%
TAX-FREE CALIFORNIA FUND
Class A Shares.............................................. 0.89% 0.89%
Class B Shares.............................................. 1.64% 1.64%
Class C Shares.............................................. 1.64% 1.64%
TAX-FREE MINNESOTA FUND
Class A Shares.............................................. 0.85% 0.84%
Class B Shares.............................................. 1.59% 1.59%
Class C Shares.............................................. 1.59% 1.59%
Class E Shares.............................................. 0.86% 0.87%
Class H Shares.............................................. 1.59% 1.59%
Class L Shares.............................................. 0.89% 0.89%
Class M Shares.............................................. 1.59% 1.59%
Class N Shares.............................................. 1.59% 1.59%
Class Y Shares.............................................. 0.87% 0.90%
TAX-FREE NATIONAL FUND
Class A Shares.............................................. 1.00% 1.01%
Class B Shares.............................................. 1.75% 1.75%
Class C Shares.............................................. 1.75% 1.75%
Class E Shares.............................................. 0.88% 0.91%
Class H Shares.............................................. 1.75% 1.75%
Class L Shares.............................................. 1.05% 1.05%
Class M Shares.............................................. 1.75% 1.75%
Class N Shares.............................................. 1.75% 1.75%
Class Y Shares.............................................. 0.89% 0.98%
TAX-FREE NEW YORK FUND
Class A Shares.............................................. 0.84% 0.84%
Class B Shares.............................................. 1.59% 1.59%
Class C Shares.............................................. 1.59% 1.59%
TOTAL RETURN BOND FUND
Class A Shares.............................................. 1.20% 1.20%
Class B Shares.............................................. 1.95% 1.95%
Class C Shares.............................................. 1.86% 1.87%
Class Y Shares.............................................. .70% 0.74%
U.S. GOVERNMENT SECURITIES FUND
Class A Shares.............................................. 1.15% 1.15%
Class B Shares.............................................. 1.90% 1.90%
Class C Shares.............................................. 1.90% 1.90%
Class E Shares.............................................. 0.84% 0.83%
Class H Shares.............................................. 1.84% 1.82%
Class L Shares.............................................. 1.09% 1.08%
Class M Shares.............................................. 1.84% 1.82%
Class N Shares.............................................. 1.84% 1.82%
Class Y Shares.............................................. 0.84% 0.86%
</Table>
278
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX-MONTH YEAR ENDED YEAR ENDED
PERIOD ENDED OCTOBER 31, OCTOBER 31,
FUND APRIL 30, 2006 2005 2004
---- -------------- ----------- -----------
VALUE FUND
Class A Shares.............................................. 1.38% 1.39% 1.44%
Class B Shares.............................................. 2.10% 2.14% 2.14%
Class C Shares.............................................. 2.15% 2.14% 2.14%
Class Y Shares.............................................. 0.91% 0.92% 0.90%
VALUE OPPORTUNITIES FUND
Class A Shares.............................................. 1.40% 1.39% 1.44%
Class B Shares.............................................. 2.10% 2.14% 2.15%
Class C Shares.............................................. 2.15% 2.14% 2.15%
Class H Shares.............................................. 1.96% 2.05% 2.14%
Class L Shares.............................................. 1.22% 1.30% 1.41%
Class M Shares.............................................. 1.96% 2.05% 2.14%
Class N Shares.............................................. 1.96% 2.05% 2.14%
Class Y Shares.............................................. 0.99% 1.06% 1.15%
</Table>
* From (commencement of operations) January 1, 2005, through October
31, 2005.
** From (commencement of operations) April 29, 2005, through October 31,
2005.
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 received 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 was
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.
e) Other Related Party Transactions -- For the six-month period ended April
30, 2006, HIFSCO was reimbursed $184 for legal expenses on behalf of the
Funds under the terms of the investment advisory agreements. 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 $30,906 for providing such services.
These expenses are accrued on a daily basis and paid quarterly.
4. AFFILIATE HOLDINGS:
As of April 30, 2006, 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................................ 829 30 30 30
Global Communications Fund.................................. 715 -- -- --
Global Financial Services Fund.............................. 575 -- -- --
Income Fund................................................. 373 -- -- 1
Retirement Income Fund...................................... 22 12 12 12
Select MidCap Growth Fund................................... 545 20 20 20
Select MidCap Value Fund.................................... 1,381 51 51 51
Select SmallCap Growth Fund................................. 540 20 20 20
Target Retirement 2010 Fund................................. 24 14 14 14
Target Retirement 2020 Fund................................. 1 1 1 1
Target Retirement 2030 Fund................................. 3 3 3 3
Tax-Free California Fund.................................... 804 -- -- NA
Tax-Free Minnesota Fund..................................... -- -- -- 1
Tax-Free National Fund...................................... -- -- -- 1
Tax-Free New York Fund...................................... 918 112 112 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
279
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
5. INVESTMENT TRANSACTIONS:
For the six-month period ended April 30, 2006, the cost of purchases and
proceeds from sales of securities for Money Market Fund were $1,185,642 and
$1,194,288, 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
EXCLUDING EXCLUDING COST OF PURCHASES SALES PROCEEDS FOR
U.S. GOVERNMENT U.S. GOVERNMENT FOR U.S. GOVERNMENT U.S. GOVERNMENT
FUND OBLIGATIONS OBLIGATIONS OBLIGATIONS OBLIGATIONS
---- ----------------- --------------- ------------------- ------------------
Advisers Fund......................... 840,476 1,036,954 146,321 154,124
Aggressive Growth Allocation Fund..... 66,146 21,881 -- --
Balanced Allocation Fund.............. 226,786 93,034 -- --
Capital Appreciation Fund............. 5,549,630 4,411,794 -- --
Capital Appreciation II Fund.......... 174,973 68,234
Conservative Allocation Fund.......... 47,762 28,209 -- --
Disciplined Equity Fund............... 145,994 118,421 -- --
Dividend and Growth Fund.............. 490,465 449,738 -- --
Equity Income Fund.................... 62,154 42,341 -- --
Floating Rate Fund.................... 950,516 105,854
Focus Fund............................ 59,603 68,820 -- --
Global Communications Fund............ 21,483 10,641 -- --
Global Financial Services Fund........ 3,840 3,024 -- --
Global Health Fund.................... 95,938 74,541 -- --
Global Leaders Fund................... 515,391 551,090 -- --
Global Technology Fund................ 42,387 39,009 -- --
Growth Allocation Fund................ 205,839 73,622 -- --
Growth Fund........................... 642,764 557,721 -- --
Growth Opportunities Fund............. 790,989 700,701 -- --
High Yield Fund....................... 252,916 264,839 -- --
Income Allocation Fund................ 11,801 7,801 -- --
Income Fund........................... 32,067 19,317 13,949 15,620
Inflation Plus Fund................... 20,595 28,756 819,369 861,056
International Capital Appreciation
Fund................................ 227,855 227,375 -- --
International Opportunities Fund...... 171,881 110,612 -- --
International Small Company Fund...... 109,504 94,461 -- --
MidCap Fund........................... 1,245,641 1,345,969 -- --
MidCap Value Fund..................... 98,645 144,937 -- --
Retirement Income Fund................ 633 34 -- --
Select MidCap Growth Fund............. 50,173 15,989 -- --
Select MidCap Value Fund.............. 28,596 12,404 -- --
Select SmallCap Growth Fund........... 3,246 1,986 -- --
Short Duration Fund................... 38,862 48,467 35,930 37,897
Small Company Fund.................... 243,630 231,803 -- --
SmallCap Growth Fund.................. 262,585 121,872 198 200
Stock Fund............................ 802,252 939,313 -- --
Target Retirement 2010................ 1,568 70 -- --
Target Retirement 2020................ 574 139 -- --
Target Retirement 2030................ 301 76 -- --
Tax-Free California Fund.............. 2,723 315 -- --
Tax-Free Minnesota Fund............... 1,026 2,669 -- --
Tax-Free National Fund................ 13,714 3,628 -- --
Tax-Free New York Fund................ 1,769 1,339 -- --
Total Return Bond Fund................ 317,497 253,678 1,528,100 1,465,383
U.S. Government Securities Fund....... 104,984 109,234 28,650 46,217
Value Fund............................ 28,359 47,672 -- --
Value Opportunities Fund.............. 78,329 77,317 -- --
</Table>
280
- --------------------------------------------------------------------------------
6. CAPITAL SHARE TRANSACTIONS:
The following information is for the six-month period ended April 30, 2006
and period ended October 31, 2005:
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
ADVISERS FUND:
Class A Shares..................... 3,155 6,088 588 1,779 (10,542) (33,823)
Amount $ 50,730 $ 91,820 $ 9,402 $26,792 $(168,383) $(511,587)
Class B Shares..................... 435 1,086 106 378 (4,539) (10,823)
Amount $ 6,904 $ 16,184 $ 1,677 $ 5,650 $ (72,083) $(161,821)
Class C Shares..................... 362 564 65 236 (2,169) (8,691)
Amount $ 5,806 $ 8,492 $ 1,047 $ 3,550 $ (34,715) $(130,715)
Class Y Shares..................... 60 126 10 23 (22) (82)
Amount $ 968 $ 1,907 $ 168 $ 344 $ (352) $ (1,239)
AGGRESSIVE GROWTH ALLOCATION FUND:
Class A Shares..................... 2,753 4,667 42 3 (415) (798)
Amount $ 34,504 $ 52,239 $ 510 $ 34 $ (5,188) $ (9,056)
Class B Shares..................... 646 1,490 3 -- (112) (156)
Amount $ 8,082 $ 16,492 $ 36 $ 1 $ (1,401) $ (1,761)
Class C Shares..................... 1,218 3,009 5 -- (625) (655)
Amount $ 15,130 $ 33,325 $ 55 $ 2 $ (7,628) $ (7,537)
BALANCED ALLOCATION FUND:
Class A Shares..................... 9,474 19,911 344 164 (2,223) (2,593)
Amount $ 109,323 $ 214,294 $ 3,912 $ 1,783 $ (25,637) $ (28,312)
Class B Shares..................... 1,898 5,297 66 15 (477) (496)
Amount $ 21,865 $ 56,712 $ 752 $ 166 $ (5,506) $ (5,352)
Class C Shares..................... 3,342 7,706 83 20 (808) (1,230)
Amount $ 38,444 $ 82,665 $ 940 $ 215 $ (9,275) $ (13,269)
CAPITAL APPRECIATION FUND:
Class A Shares..................... 44,523 52,233 14,870 -- (14,330) (22,397)
Amount $1,641,617 $1,777,216 $506,911 $ -- $(530,605) $(767,171)
Class B Shares..................... 4,828 6,556 4,950 -- (5,733) (8,132)
Amount $ 163,969 $ 207,239 $155,432 $ -- $(194,211) $(261,148)
Class C Shares..................... 15,621 14,201 5,348 -- (3,431) (6,955)
Amount $ 532,443 $ 452,151 $168,448 $ -- $(116,722) $(221,286)
Class Y Shares..................... 1,596 3,153 605 -- (201) (388)
Amount $ 62,478 $ 111,884 $ 21,836 $ -- $ (7,882) $ (14,238)
CAPITAL APPRECIATION II FUND:
Class A Shares..................... 6,784 5,323 67 -- (479) (176)
Amount $ 83,160 $ 57,024 $ 756 $ -- $ (5,856) $ (1,941)
Class B Shares..................... 854 589 8 -- (45) (14)
Amount $ 10,411 $ 6,345 $ 89 $ -- $ (555) $ (155)
Class C Shares..................... 2,655 1,792 23 -- (97) (26)
Amount $ 32,334 $ 19,422 $ 261 $ -- $ (1,194) $ (281)
Class Y Shares..................... -- 30 -- -- -- --
Amount $ -- $ 300 $ 4 $ -- $ -- $ --
CONSERVATIVE ALLOCATION FUND:
Class A Shares..................... 2,076 5,061 160 73 (1,608) (1,765)
Amount $ 22,475 $ 53,341 $ 1,713 $ 776 $ (17,402) $ (18,790)
Class B Shares..................... 397 1,057 32 10 (171) (179)
Amount $ 4,304 $ 11,098 $ 343 $ 109 $ (1,861) $ (1,887)
Class C Shares..................... 1,488 3,289 58 21 (507) (1,764)
Amount $ 16,038 $ 34,653 $ 618 $ 217 $ (5,489) $ (18,469)
DISCIPLINED EQUITY FUND:
Class A Shares..................... 516 1,341 24 153 (2,440) (6,267)
Amount $ 6,410 $ 15,365 $ 299 $ 1,755 $ (30,178) $ (72,432)
Class B Shares..................... 87 238 -- 2 (409) (1,069)
Amount $ 1,035 $ 2,623 $ -- $ 23 $ (4,861) $ (11,782)
Class C Shares..................... 39 145 -- 4 (375) (1,167)
Amount $ 456 $ 1,606 $ -- $ 39 $ (4,454) $ (12,840)
Class Y Shares..................... 4,924 4,983 45 29 (51) (65)
Amount $ 62,921 $ 59,052 $ 573 $ 346 $ (653) $ (775)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
ADVISERS FUND:
Class A Shares..................... (6,799) (25,956)
Amount $ (108,251) $ (392,975)
Class B Shares..................... (3,998) (9,359)
Amount $ (63,502) $ (139,987)
Class C Shares..................... (1,742) (7,891)
Amount $ (27,862) $ (118,673)
Class Y Shares..................... 48 67
Amount $ 784 $ 1,012
AGGRESSIVE GROWTH ALLOCATION FUND:
Class A Shares..................... 2,380 3,872
Amount $ 29,826 $ 43,217
Class B Shares..................... 537 1,334
Amount $ 6,717 $ 14,732
Class C Shares..................... 598 2,354
Amount $ 7,557 $ 25,790
BALANCED ALLOCATION FUND:
Class A Shares..................... 7,595 17,482
Amount $ 87,598 $ 187,765
Class B Shares..................... 1,487 4,816
Amount $ 17,111 $ 51,526
Class C Shares..................... 2,617 6,496
Amount $ 30,109 $ 69,611
CAPITAL APPRECIATION FUND:
Class A Shares..................... 45,063 29,836
Amount $1,617,923 $1,010,045
Class B Shares..................... 4,045 (1,576)
Amount $ 125,190 $ (53,909)
Class C Shares..................... 17,538 7,246
Amount $ 584,169 $ 230,865
Class Y Shares..................... 2,000 2,765
Amount $ 76,432 $ 97,646
CAPITAL APPRECIATION II FUND:
Class A Shares..................... 6,372 5,147
Amount $ 78,060 $ 55,083
Class B Shares..................... 817 575
Amount $ 9,945 $ 6,190
Class C Shares..................... 2,581 1,766
Amount $ 31,401 $ 19,141
Class Y Shares..................... -- 30
Amount $ 4 $ 300
CONSERVATIVE ALLOCATION FUND:
Class A Shares..................... 628 3,369
Amount $ 6,786 $ 35,327
Class B Shares..................... 258 888
Amount $ 2,786 $ 9,320
Class C Shares..................... 1,039 1,546
Amount $ 11,167 $ 16,401
DISCIPLINED EQUITY FUND:
Class A Shares..................... (1,900) (4,773)
Amount $ (23,469) $ (55,312)
Class B Shares..................... (322) (829)
Amount $ (3,826) $ (9,136)
Class C Shares..................... (336) (1,018)
Amount $ (3,998) $ (11,195)
Class Y Shares..................... 4,918 4,947
Amount $ 62,841 $ 58,623
</Table>
281
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
DIVIDEND AND GROWTH FUND:
Class A Shares..................... 10,931 20,127 5,183 2,427 (8,325) (15,420)
Amount $ 213,055 $ 377,916 $ 97,130 $45,020 $(161,512) $(291,171)
Class B Shares..................... 1,207 3,042 771 268 (2,267) (3,265)
Amount $ 23,204 $ 56,232 $ 14,193 $ 4,853 $ (43,607) $ (60,699)
Class C Shares..................... 978 2,119 633 245 (1,640) (3,265)
Amount $ 18,762 $ 39,143 $ 11,634 $ 4,444 $ (31,361) $ (60,506)
Class Y Shares..................... 901 2,396 274 120 (1,019) (413)
Amount $ 17,638 $ 45,265 $ 5,195 $ 2,257 $ (20,008) $ (7,961)
EQUITY INCOME FUND:
Class A Shares..................... 4,081 15,486 465 589 (2,213) (3,468)
Amount $ 51,471 $ 185,634 $ 5,815 $ 7,058 $ (27,866) $ (41,777)
Class B Shares..................... 254 1,443 28 32 (264) (296)
Amount $ 3,185 $ 17,256 $ 350 $ 380 $ (3,326) $ (3,561)
Class C Shares..................... 204 1,095 42 61 (579) (641)
Amount $ 2,559 $ 13,124 $ 523 $ 735 $ (7,221) $ (7,689)
Class Y Shares..................... 27 47 1 2 (2) (17)
Amount $ 343 $ 574 $ 16 $ 17 $ (22) $ (205)
FLOATING RATE FUND:
Class A Shares..................... 62,755 19,092 773 132 (12,049) (2,428)
Amount $ 636,380 $ 192,854 $ 7,826 $ 1,335 $(122,268) $ (24,613)
Class B Shares..................... 1,409 595 16 3 (96) (37)
Amount $ 14,276 $ 5,996 $ 162 $ 32 $ (974) $ (372)
Class C Shares..................... 25,968 9,381 350 53 (1,220) (239)
Amount $ 263,181 $ 94,747 $ 3,541 $ 530 $ (12,368) $ (2,420)
Class Y Shares..................... 3,830 1,056 105 16 (53) (74)
Amount $ 38,753 $ 10,662 $ 1,066 $ 158 $ (541) $ (752)
FOCUS FUND:
Class A Shares..................... 194 314 27 3 (739) (2,792)
Amount $ 2,069 $ 3,040 $ 291 $ 29 $ (7,963) $ (27,191)
Class B Shares..................... 38 64 -- -- (146) (627)
Amount $ 387 $ 612 $ -- $ -- $ (1,531) $ (5,951)
Class C Shares..................... 28 104 -- -- (276) (1,100)
Amount $ 287 $ 981 $ -- $ -- $ (2,890) $ (10,427)
Class Y Shares..................... 7 28 -- -- (9) (71)
Amount $ 78 $ 283 $ 5 $ 3 $ (105) $ (705)
GLOBAL COMMUNICATIONS FUND:
Class A Shares..................... 1,337 1,099 33 14 (237) (496)
Amount $ 10,098 $ 7,313 $ 243 $ 89 $ (1,798) $ (3,216)
Class B Shares..................... 203 212 4 1 (42) (84)
Amount $ 1,500 $ 1,361 $ 27 $ 5 $ (311) $ (522)
Class C Shares..................... 277 223 3 1 (77) (69)
Amount $ 2,035 $ 1,450 $ 19 $ 4 $ (570) $ (442)
Class Y Shares..................... 27 62 2 -- (3) (4)
Amount $ 208 $ 410 $ 12 $ 2 $ (21) $ (26)
GLOBAL FINANCIAL SERVICES FUND:
Class A Shares..................... 124 143 11 14 (81) (191)
Amount $ 1,575 $ 1,582 $ 134 $ 156 $ (1,025) $ (2,107)
Class B Shares..................... 34 25 1 1 (33) (47)
Amount $ 421 $ 271 $ 12 $ 16 $ (413) $ (510)
Class C Shares..................... 36 66 1 1 (30) (64)
Amount $ 453 $ 741 $ 8 $ 12 $ (371) $ (705)
Class Y Shares..................... 2 7 1 1 (5) (3)
Amount $ 41 $ 74 $ 10 $ 10 $ (70) $ (28)
GLOBAL HEALTH FUND:
Class A Shares..................... 2,377 3,495 762 567 (1,282) (2,723)
Amount $ 39,844 $ 55,087 $ 12,090 $ 8,478 $ (21,385) $ (42,260)
Class B Shares..................... 335 445 276 225 (342) (718)
Amount $ 5,374 $ 6,670 $ 4,176 $ 3,252 $ (5,468) $ (10,730)
Class C Shares..................... 753 1,038 274 210 (388) (891)
Amount $ 12,061 $ 15,731 $ 4,150 $ 3,033 $ (6,205) $ (13,305)
Class Y Shares..................... 36 9,894 597 4 (15) (31)
Amount $ 636 $ 153,166 $ 9,803 $ 64 $ (260) $ (503)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
DIVIDEND AND GROWTH FUND:
Class A Shares..................... 7,789 7,134
Amount $ 148,673 $ 131,765
Class B Shares..................... (289) 45
Amount $ (6,210) $ 386
Class C Shares..................... (29) (901)
Amount $ (965) $ (16,919)
Class Y Shares..................... 156 2,103
Amount $ 2,825 $ 39,561
EQUITY INCOME FUND:
Class A Shares..................... 2,333 12,607
Amount $ 29,420 $ 150,915
Class B Shares..................... 18 1,179
Amount $ 209 $ 14,075
Class C Shares..................... (333) 515
Amount $ (4,139) $ 6,170
Class Y Shares..................... 26 32
Amount $ 337 $ 386
FLOATING RATE FUND:
Class A Shares..................... 51,479 16,796
Amount $ 521,938 $ 169,576
Class B Shares..................... 1,329 561
Amount $ 13,464 $ 5,656
Class C Shares..................... 25,098 9,195
Amount $ 254,354 $ 92,857
Class Y Shares..................... 3,882 998
Amount $ 39,278 $ 10,068
FOCUS FUND:
Class A Shares..................... (518) (2,475)
Amount $ (5,603) $ (24,122)
Class B Shares..................... (108) (563)
Amount $ (1,144) $ (5,339)
Class C Shares..................... (248) (996)
Amount $ (2,603) $ (9,446)
Class Y Shares..................... (2) (43)
Amount $ (22) $ (419)
GLOBAL COMMUNICATIONS FUND:
Class A Shares..................... 1,133 617
Amount $ 8,543 $ 4,186
Class B Shares..................... 165 129
Amount $ 1,216 $ 844
Class C Shares..................... 203 155
Amount $ 1,484 $ 1,012
Class Y Shares..................... 26 58
Amount $ 199 $ 386
GLOBAL FINANCIAL SERVICES FUND:
Class A Shares..................... 54 (34)
Amount $ 684 $ (369)
Class B Shares..................... 2 (21)
Amount $ 20 $ (223)
Class C Shares..................... 7 3
Amount $ 90 $ 48
Class Y Shares..................... (2) 5
Amount $ (19) $ 56
GLOBAL HEALTH FUND:
Class A Shares..................... 1,857 1,339
Amount $ 30,549 $ 21,305
Class B Shares..................... 269 (48)
Amount $ 4,082 $ (808)
Class C Shares..................... 639 357
Amount $ 10,006 $ 5,459
Class Y Shares..................... 618 9,867
Amount $ 10,179 $ 152,727
</Table>
282
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
GLOBAL LEADERS FUND:
Class A Shares..................... 940 3,691 291 -- (3,049) (6,969)
Amount $ 17,494 $ 62,349 $ 4,961 $ -- $ (55,497) $(117,555)
Class B Shares..................... 159 575 57 -- (674) (1,334)
Amount $ 2,797 $ 9,270 $ 916 $ -- $ (11,770) $ (21,331)
Class C Shares..................... 106 479 50 -- (626) (1,531)
Amount $ 1,877 $ 7,767 $ 807 $ -- $ (10,966) $ (24,598)
Class Y Shares..................... 1,599 1,488 81 -- (145) (131)
Amount $ 30,625 $ 25,736 $ 1,465 $ -- $ (2,822) $ (2,334)
GLOBAL TECHNOLOGY FUND:
Class A Shares..................... 1,536 1,097 -- -- (819) (2,639)
Amount $ 8,679 $ 5,180 $ -- $ -- $ (4,588) $ (12,398)
Class B Shares..................... 192 231 -- -- (224) (662)
Amount $ 1,043 $ 1,044 $ -- $ -- $ (1,192) $ (2,969)
Class C Shares..................... 277 170 -- -- (278) (1,171)
Amount $ 1,493 $ 775 $ -- $ -- $ (1,472) $ (5,258)
Class Y Shares..................... 35 189 -- -- (17) (268)
Amount $ 198 $ 950 $ -- $ -- $ (97) $ (1,319)
GROWTH ALLOCATION FUND:
Class A Shares..................... 7,590 15,579 218 19 (1,348) (1,553)
Amount $ 91,729 $ 170,874 $ 2,574 $ 215 $ (16,288) $ (17,312)
Class B Shares..................... 2,113 4,860 33 3 (373) (359)
Amount $ 25,357 $ 53,037 $ 391 $ 32 $ (4,500) $ (3,962)
Class C Shares..................... 3,670 7,489 45 4 (804) (576)
Amount $ 44,152 $ 81,830 $ 534 $ 44 $ (9,675) $ (6,397)
GROWTH FUND:
Class A Shares..................... 7,653 20,706 -- -- (5,520) (7,771)
Amount $ 142,040 $ 348,182 $ -- $ -- $(102,618) $(132,108)
Class B Shares..................... 252 1,206 -- -- (293) (437)
Amount $ 4,116 $ 18,149 $ -- $ -- $ (4,805) $ (6,602)
Class C Shares..................... 820 2,865 -- -- (653) (791)
Amount $ 13,471 $ 43,293 $ -- $ -- $ (10,740) $ (11,969)
Class H Shares..................... 33 74 -- -- (205) (408)
Amount $ 551 $ 1,121 $ -- $ -- $ (3,398) $ (6,197)
Class L Shares..................... 335 581 -- -- (1,460) (2,689)
Amount $ 6,317 $ 9,889 $ -- $ -- $ (27,329) $ (46,057)
Class M Shares..................... 42 95 -- -- (188) (338)
Amount $ 710 $ 1,425 $ -- $ -- $ (3,116) $ (5,116)
Class N Shares..................... 7 18 -- -- (31) (35)
Amount $ 112 $ 278 $ -- $ -- $ (515) $ (537)
Class Y Shares..................... 5,369 2,286 -- -- (1,362) (10)
Amount $ 101,290 $ 39,040 $ -- $ -- $ (25,374) $ (165)
GROWTH OPPORTUNITIES FUND:
Class A Shares..................... 4,164 6,721 268 -- (1,127) (1,049)
Amount $ 120,103 $ 176,120 $ 7,160 $ -- $ (32,899) $ (27,544)
Class B Shares..................... 415 364 69 -- (74) (100)
Amount $ 10,369 $ 8,252 $ 1,609 $ -- $ (1,867) $ (2,265)
Class C Shares..................... 809 334 66 -- (79) (136)
Amount $ 20,226 $ 7,639 $ 1,526 $ -- $ (1,986) $ (3,068)
Class H Shares..................... 43 108 130 -- (206) (467)
Amount $ 1,084 $ 2,437 $ 3,053 $ -- $ (5,231) $ (10,587)
Class L Shares..................... 318 652 1,435 -- (1,264) (2,748)
Amount $ 9,328 $ 16,784 $ 38,851 $ -- $ (36,775) $ (71,235)
Class M Shares..................... 35 73 78 -- (125) (241)
Amount $ 885 $ 1,651 $ 1,817 $ -- $ (3,157) $ (5,462)
Class N Shares..................... 7 13 19 -- (19) (35)
Amount $ 166 $ 293 $ 436 $ -- $ (457) $ (813)
Class Y Shares..................... 924 853 68 -- (27) (52)
Amount $ 27,501 $ 22,960 $ 1,841 $ -- $ (793) $ (1,482)
Class Z Shares..................... 12 17 79 -- (48) (203)
Amount $ 362 $ 453 $ 2,251 $ -- $ (1,460) $ (5,358)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
GLOBAL LEADERS FUND:
Class A Shares..................... (1,818) (3,278)
Amount $ (33,042) $ (55,206)
Class B Shares..................... (458) (759)
Amount $ (8,057) $ (12,061)
Class C Shares..................... (470) (1,052)
Amount $ (8,282) $ (16,831)
Class Y Shares..................... 1,535 1,357
Amount $ 29,268 $ 23,402
GLOBAL TECHNOLOGY FUND:
Class A Shares..................... 717 (1,542)
Amount $ 4,091 $ (7,218)
Class B Shares..................... (32) (431)
Amount $ (149) $ (1,925)
Class C Shares..................... (1) (1,001)
Amount $ 21 $ (4,483)
Class Y Shares..................... 18 (79)
Amount $ 101 $ (369)
GROWTH ALLOCATION FUND:
Class A Shares..................... 6,460 14,045
Amount $ 78,015 $ 153,777
Class B Shares..................... 1,773 4,504
Amount $ 21,248 $ 49,107
Class C Shares..................... 2,911 6,917
Amount $ 35,011 $ 75,477
GROWTH FUND:
Class A Shares..................... 2,133 12,935
Amount $ 39,422 $ 216,074
Class B Shares..................... (41) 769
Amount $ (689) $ 11,547
Class C Shares..................... 167 2,074
Amount $ 2,731 $ 31,324
Class H Shares..................... (172) (334)
Amount $ (2,847) $ (5,076)
Class L Shares..................... (1,125) (2,108)
Amount $ (21,012) $ (36,168)
Class M Shares..................... (146) (243)
Amount $ (2,406) $ (3,691)
Class N Shares..................... (24) (17)
Amount $ (403) $ (259)
Class Y Shares..................... 4,007 2,276
Amount $ 75,916 $ 38,875
GROWTH OPPORTUNITIES FUND:
Class A Shares..................... 3,305 5,672
Amount $ 94,364 $ 148,576
Class B Shares..................... 410 264
Amount $ 10,111 $ 5,987
Class C Shares..................... 796 198
Amount $ 19,766 $ 4,571
Class H Shares..................... (33) (359)
Amount $ (1,094) $ (8,150)
Class L Shares..................... 489 (2,096)
Amount $ 11,404 $ (54,451)
Class M Shares..................... (12) (168)
Amount $ (455) $ (3,811)
Class N Shares..................... 7 (22)
Amount $ 145 $ (520)
Class Y Shares..................... 965 801
Amount $ 28,549 $ 21,478
Class Z Shares..................... 43 (186)
Amount $ 1,153 $ (4,905)
</Table>
283
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
HIGH YIELD FUND:
Class A Shares..................... 4,652 8,904 694 1,444 (5,210) (16,278)
Amount $ 36,274 $ 71,605 $ 5,422 $11,564 $ (40,755) $(130,949)
Class B Shares..................... 157 758 118 270 (1,134) (2,782)
Amount $ 1,227 $ 6,099 $ 920 $ 2,160 $ (8,860) $ (22,326)
Class C Shares..................... 282 1,539 113 274 (1,551) (4,009)
Amount $ 2,203 $ 12,358 $ 882 $ 2,194 $ (12,119) $ (32,194)
Class Y Shares..................... 516 1,455 112 171 (1,022) (283)
Amount $ 4,037 $ 11,590 $ 873 $ 1,366 $ (8,003) $ (2,241)
INCOME ALLOCATION FUND:
Class A Shares..................... 950 1,515 41 42 (666) (629)
Amount $ 9,357 $ 15,271 $ 408 $ 424 $ (6,579) $ (6,340)
Class B Shares..................... 105 367 7 8 (114) (59)
Amount $ 1,039 $ 3,708 $ 67 $ 78 $ (1,132) $ (594)
Class C Shares..................... 311 885 14 16 (221) (602)
Amount $ 3,074 $ 8,908 $ 136 $ 157 $ (2,188) $ (6,033)
INCOME FUND:
Class A Shares..................... 757 890 67 125 (464) (948)
Amount $ 7,783 $ 9,362 $ 688 $ 1,312 $ (4,746) $ (10,000)
Class B Shares..................... 97 224 9 17 (96) (174)
Amount $ 995 $ 2,353 $ 88 $ 174 $ (981) $ (1,833)
Class C Shares..................... 133 168 7 16 (96) (201)
Amount $ 1,367 $ 1,783 $ 73 $ 167 $ (987) $ (2,117)
Class Y Shares..................... 759 1,595 52 47 (26) (38)
Amount $ 7,773 $ 16,776 $ 535 $ 494 $ (264) $ (397)
INFLATION PLUS FUND:
Class A Shares..................... 4,517 18,801 666 1,267 (12,190) (9,846)
Amount $ 47,655 $ 204,666 $ 7,010 $13,713 $(128,252) $(107,151)
Class B Shares..................... 542 2,691 158 320 (1,720) (1,685)
Amount $ 5,731 $ 29,325 $ 1,665 $ 3,472 $ (18,040) $ (18,341)
Class C Shares..................... 2,704 15,748 485 985 (9,350) (10,907)
Amount $ 28,616 $ 171,480 $ 5,107 $10,664 $ (98,229) $(118,510)
Class Y Shares..................... 3,394 6,915 236 278 (372) (312)
Amount $ 35,680 $ 75,336 $ 2,485 $ 3,005 $ (3,945) $ (3,379)
INTERNATIONAL CAPITAL APPRECIATION
FUND:
Class A Shares..................... 3,376 8,923 149 -- (1,726) (2,419)
Amount $ 46,650 $ 107,673 $ 1,845 $ -- $ (22,816) $ (29,044)
Class B Shares..................... 396 1,416 21 -- (188) (314)
Amount $ 5,316 $ 16,612 $ 246 $ -- $ (2,456) $ (3,670)
Class C Shares..................... 557 1,905 26 -- (322) (540)
Amount $ 7,478 $ 22,367 $ 307 $ -- $ (4,246) $ (6,308)
Class Y Shares..................... 757 3,973 117 -- (2,355) (375)
Amount $ 10,391 $ 48,003 $ 1,490 $ -- $ (33,168) $ (4,540)
INTERNATIONAL OPPORTUNITIES FUND:
Class A Shares..................... 2,356 1,937 27 -- (748) (1,923)
Amount $ 33,919 $ 24,270 $ 371 $ -- $ (10,731) $ (24,092)
Class B Shares..................... 303 310 -- -- (259) (562)
Amount $ 4,152 $ 3,645 $ -- $ -- $ (3,550) $ (6,639)
Class C Shares..................... 163 254 -- -- (154) (367)
Amount $ 2,217 $ 2,963 $ -- $ -- $ (2,072) $ (4,232)
Class Y Shares..................... 2,390 73 9 -- (143) (31)
Amount $ 35,138 $ 932 $ 131 $ -- $ (2,163) $ (395)
INTERNATIONAL SMALL COMPANY FUND:
Class A Shares..................... 1,436 1,228 331 200 (353) (763)
Amount $ 21,102 $ 16,692 $ 4,265 $ 2,473 $ (5,007) $ (10,416)
Class B Shares..................... 209 245 57 32 (44) (120)
Amount $ 2,966 $ 3,258 $ 717 $ 389 $ (608) $ (1,585)
Class C Shares..................... 252 320 119 91 (194) (263)
Amount $ 3,548 $ 4,216 $ 1,465 $ 1,092 $ (2,585) $ (3,457)
Class Y Shares..................... 2,386 1,460 647 381 (2,241) (406)
Amount $ 34,920 $ 19,654 $ 8,435 $ 4,758 $ (34,327) $ (5,762)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
HIGH YIELD FUND:
Class A Shares..................... 136 (5,930)
Amount $ 941 $ (47,780)
Class B Shares..................... (859) (1,754)
Amount $ (6,713) $ (14,067)
Class C Shares..................... (1,156) (2,196)
Amount $ (9,034) $ (17,642)
Class Y Shares..................... (394) 1,343
Amount $ (3,093) $ 10,715
INCOME ALLOCATION FUND:
Class A Shares..................... 325 928
Amount $ 3,186 $ 9,355
Class B Shares..................... (2) 316
Amount $ (26) $ 3,192
Class C Shares..................... 104 299
Amount $ 1,022 $ 3,032
INCOME FUND:
Class A Shares..................... 360 67
Amount $ 3,725 $ 674
Class B Shares..................... 10 67
Amount $ 102 $ 694
Class C Shares..................... 44 (17)
Amount $ 453 $ (167)
Class Y Shares..................... 785 1,604
Amount $ 8,044 $ 16,873
INFLATION PLUS FUND:
Class A Shares..................... (7,007) 10,222
Amount $ (73,587) $ 111,228
Class B Shares..................... (1,020) 1,326
Amount $ (10,644) $ 14,456
Class C Shares..................... (6,161) 5,826
Amount $ (64,506) $ 63,634
Class Y Shares..................... 3,258 6,881
Amount $ 34,220 $ 74,962
INTERNATIONAL CAPITAL APPRECIATION
FUND:
Class A Shares..................... 1,799 6,504
Amount $ 25,679 $ 78,629
Class B Shares..................... 229 1,102
Amount $ 3,106 $ 12,942
Class C Shares..................... 261 1,365
Amount $ 3,539 $ 16,059
Class Y Shares..................... (1,481) 3,598
Amount $ (21,287) $ 43,463
INTERNATIONAL OPPORTUNITIES FUND:
Class A Shares..................... 1,635 14
Amount $ 23,559 $ 178
Class B Shares..................... 44 (252)
Amount $ 602 $ (2,994)
Class C Shares..................... 9 (113)
Amount $ 145 $ (1,269)
Class Y Shares..................... 2,256 42
Amount $ 33,106 $ 537
INTERNATIONAL SMALL COMPANY FUND:
Class A Shares..................... 1,414 665
Amount $ 20,360 $ 8,749
Class B Shares..................... 222 157
Amount $ 3,075 $ 2,062
Class C Shares..................... 177 148
Amount $ 2,428 $ 1,851
Class Y Shares..................... 792 1,435
Amount $ 9,028 $ 18,650
</Table>
284
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
MIDCAP FUND:
Class A Shares..................... 3,650 5,185 11,935 1,383 (5,079) (11,173)
Amount $ 90,787 $ 128,890 $271,649 $31,412 $(126,116) $(273,711)
Class B Shares..................... 144 165 3,680 425 (1,599) (2,284)
Amount $ 3,185 $ 3,808 $ 77,838 $ 9,150 $ (36,851) $ (53,587)
Class C Shares..................... 220 163 3,849 459 (1,340) (3,030)
Amount $ 4,808 $ 3,872 $ 81,756 $ 9,908 $ (30,943) $ (70,943)
Class Y Shares..................... 1,633 904 944 89 (761) (375)
Amount $ 43,600 $ 23,183 $ 22,565 $ 2,097 $ (20,265) $ (9,751)
MIDCAP VALUE FUND:
Class A Shares..................... 190 365 2,207 1,692 (1,378) (2,660)
Amount $ 2,562 $ 4,754 $ 27,216 $20,631 $ (18,438) $ (34,854)
Class B Shares..................... 40 91 486 368 (340) (651)
Amount $ 521 $ 1,159 $ 5,770 $ 4,365 $ (4,401) $ (8,272)
Class C Shares..................... 32 61 490 405 (374) (1,037)
Amount $ 406 $ 766 $ 5,822 $ 4,809 $ (4,860) $ (13,160)
Class Y Shares..................... 474 2,956 307 18 (1,662) (222)
Amount $ 6,627 $ 38,771 $ 3,881 $ 221 $ (23,400) $ (3,096)
MONEY MARKET FUND:
Class A Shares..................... 111,231 221,158 2,932 3,418 (116,331) (247,710)
Amount $ 111,231 $ 221,158 $ 2,932 $ 3,418 $(116,331) $(247,710)
Class B Shares..................... 7,116 18,453 347 380 (11,740) (33,953)
Amount $ 7,116 $ 18,453 $ 347 $ 380 $ (11,740) $ (33,953)
Class C Shares..................... 7,331 26,919 197 218 (11,066) (34,973)
Amount $ 7,331 $ 26,919 $ 197 $ 218 $ (11,066) $ (34,973)
Class Y Shares..................... 4,570 9,406 325 324 (2,885) (3,314)
Amount $ 4,570 $ 9,406 $ 325 $ 324 $ (2,885) $ (3,314)
RETIREMENT INCOME FUND:
Class A Shares..................... 25 5 1 -- -- --
Amount $ 250 $ 48 $ 4 $ -- $ -- $ --
Class B Shares..................... 16 1 -- -- -- --
Amount $ 148 $ 10 $ 1 $ -- $ -- $ --
Class C Shares..................... 13 1 -- -- -- --
Amount $ 120 $ 10 $ 1 $ -- $ -- $ --
Class Y Shares..................... 11 1 -- -- -- --
Amount $ 100 $ 10 $ 1 $ -- $ -- $ --
SELECT MIDCAP GROWTH FUND:
Class A Shares..................... 578 1,559 14 -- (89) (81)
Amount $ 6,437 $ 15,493 $ 147 $ -- $ (1,000) $ (821)
Class B Shares..................... 123 245 2 -- (21) (12)
Amount $ 1,357 $ 2,425 $ 22 $ -- $ (239) $ (117)
Class C Shares..................... 185 183 2 -- (8) (10)
Amount $ 2,064 $ 1,808 $ 17 $ -- $ (86) $ (100)
Class Y Shares..................... 2,650 21 -- -- (129) --
Amount $ 29,587 $ 209 $ 2 $ -- $ (1,433) $ (3)
SELECT MIDCAP VALUE FUND:
Class A Shares..................... 1,278 2,101 48 -- (103) (23)
Amount $ 14,547 $ 21,632 $ 520 $ -- $ (1,169) $ (253)
Class B Shares..................... 134 163 4 -- (8) (4)
Amount $ 1,517 $ 1,726 $ 39 $ -- $ (94) $ (38)
Class C Shares..................... 230 278 6 -- (27) (10)
Amount $ 2,605 $ 2,976 $ 70 $ -- $ (314) $ (104)
Class Y Shares..................... -- 50 1 -- -- --
Amount $ -- $ 500 $ 15 $ -- $ -- $ --
SELECT SMALLCAP GROWTH FUND:
Class A Shares..................... 113 545 -- -- (2) --
Amount $ 1,212 $ 5,445 $ -- $ -- $ (19) $ --
Class B Shares..................... 20 21 -- -- (2) --
Amount $ 217 $ 207 $ -- $ -- $ (14) $ --
Class C Shares..................... 34 21 -- -- -- --
Amount $ 361 $ 213 $ -- $ -- $ -- $ --
Class Y Shares..................... -- 20 -- -- -- --
Amount $ -- $ 200 $ -- $ -- $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
MIDCAP FUND:
Class A Shares..................... 10,506 (4,605)
Amount $ 236,320 $ (113,409)
Class B Shares..................... 2,225 (1,694)
Amount $ 44,172 $ (40,629)
Class C Shares..................... 2,729 (2,408)
Amount $ 55,621 $ (57,163)
Class Y Shares..................... 1,816 618
Amount $ 45,900 $ 15,529
MIDCAP VALUE FUND:
Class A Shares..................... 1,019 (603)
Amount $ 11,340 $ (9,469)
Class B Shares..................... 186 (192)
Amount $ 1,890 $ (2,748)
Class C Shares..................... 148 (571)
Amount $ 1,368 $ (7,585)
Class Y Shares..................... (881) 2,752
Amount $ (12,892) $ 35,896
MONEY MARKET FUND:
Class A Shares..................... (2,168) (23,134)
Amount $ (2,168) $ (23,134)
Class B Shares..................... (4,277) (15,120)
Amount $ (4,277) $ (15,120)
Class C Shares..................... (3,538) (7,836)
Amount $ (3,538) $ (7,836)
Class Y Shares..................... 2,010 6,416
Amount $ 2,010 $ 6,416
RETIREMENT INCOME FUND:
Class A Shares..................... 26 5
Amount $ 254 $ 48
Class B Shares..................... 16 1
Amount $ 149 $ 10
Class C Shares..................... 13 1
Amount $ 121 $ 10
Class Y Shares..................... 11 1
Amount $ 101 $ 10
SELECT MIDCAP GROWTH FUND:
Class A Shares..................... 503 1,478
Amount $ 5,584 $ 14,672
Class B Shares..................... 104 233
Amount $ 1,140 $ 2,308
Class C Shares..................... 179 173
Amount $ 1,995 $ 1,708
Class Y Shares..................... 2,521 21
Amount $ 28,156 $ 206
SELECT MIDCAP VALUE FUND:
Class A Shares..................... 1,223 2,078
Amount $ 13,898 $ 21,379
Class B Shares..................... 130 159
Amount $ 1,462 $ 1,688
Class C Shares..................... 209 268
Amount $ 2,361 $ 2,872
Class Y Shares..................... 1 50
Amount $ 15 $ 500
SELECT SMALLCAP GROWTH FUND:
Class A Shares..................... 111 545
Amount $ 1,193 $ 5,445
Class B Shares..................... 18 21
Amount $ 203 $ 207
Class C Shares..................... 34 21
Amount $ 361 $ 213
Class Y Shares..................... -- 20
Amount $ -- $ 200
</Table>
285
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
SHORT DURATION FUND:
Class A Shares..................... 365 1,286 40 93 (752) (2,297)
Amount $ 3,603 $ 12,820 $ 389 $ 929 $ (7,414) $ (22,878)
Class B Shares..................... 45 177 9 21 (193) (520)
Amount $ 445 $ 1,762 $ 88 $ 207 $ (1,906) $ (5,181)
Class C Shares..................... 134 641 21 55 (796) (1,830)
Amount $ 1,323 $ 6,407 $ 211 $ 543 $ (7,845) $ (18,239)
Class Y Shares..................... 1,785 5,565 150 226 (2,280) (533)
Amount $ 17,537 $ 55,422 $ 1,474 $ 2,244 $ (22,436) $ (5,283)
SMALL COMPANY FUND:
Class A Shares..................... 238 397 -- -- (569) (2,105)
Amount $ 5,039 $ 6,768 $ -- $ -- $ (11,954) $ (35,226)
Class B Shares..................... 21 54 -- -- (394) (883)
Amount $ 428 $ 830 $ -- $ -- $ (7,745) $ (13,912)
Class C Shares..................... 11 32 -- -- (241) (921)
Amount $ 218 $ 505 $ -- $ -- $ (4,718) $ (14,243)
Class Y Shares..................... 1,592 1,300 -- -- (11) (61)
Amount $ 36,245 $ 21,676 $ -- $ -- $ (242) $ (1,057)
SMALLCAP GROWTH FUND:
Class A Shares..................... 3,089 1,208 -- -- (314) (609)
Amount $ 98,832 $ 33,404 $ -- $ -- $ (9,814) $ (16,505)
Class B Shares..................... 140 201 -- -- (56) (99)
Amount $ 3,978 $ 4,983 $ -- $ -- $ (1,578) $ (2,439)
Class C Shares..................... 298 297 -- -- (72) (137)
Amount $ 8,435 $ 7,553 $ -- $ -- $ (2,016) $ (3,371)
Class H Shares..................... 16 42 -- -- (69) (220)
Amount $ 464 $ 1,049 $ -- $ -- $ (1,959) $ (5,451)
Class L Shares..................... 118 295 -- -- (333) (740)
Amount $ 3,692 $ 8,024 $ -- $ -- $ (10,470) $ (20,261)
Class M Shares..................... 20 42 -- -- (72) (159)
Amount $ 577 $ 1,027 $ -- $ -- $ (2,041) $ (3,946)
Class N Shares..................... 8 16 -- -- (22) (56)
Amount $ 218 $ 406 $ -- $ -- $ (618) $ (1,389)
Class Y Shares..................... 1,592 1,738 -- -- (92) (25)
Amount $ 50,821 $ 47,949 $ -- $ -- $ (2,934) $ (725)
STOCK FUND:
Class A Shares..................... 2,008 3,320 77 310 (5,796) (20,910)
Amount $ 39,588 $ 58,908 $ 1,495 $ 5,503 $(113,117) $(371,998)
Class B Shares..................... 250 623 -- -- (2,632) (6,244)
Amount $ 4,614 $ 10,341 $ -- $ -- $ (48,471) $(104,388)
Class C Shares..................... 176 489 -- -- (1,457) (6,146)
Amount $ 3,277 $ 8,221 $ -- $ -- $ (26,951) $(102,989)
Class Y Shares..................... 562 1,226 38 54 (223) (300)
Amount $ 11,495 $ 22,574 $ 772 $ 1,005 $ (4,567) $ (5,539)
TARGET RETIREMENT 2010 FUND:
Class A Shares..................... 124 1 -- -- -- --
Amount $ 1,170 $ 12 $ 4 $ -- $ -- $ --
Class B Shares..................... 14 1 -- -- -- --
Amount $ 133 $ 10 $ 1 $ -- $ -- $ --
Class C Shares..................... 13 1 -- -- -- --
Amount $ 120 $ 10 $ 1 $ -- $ -- $ --
Class Y Shares..................... 13 1 -- -- -- --
Amount $ 120 $ 10 $ 1 $ -- $ -- $ --
TARGET RETIREMENT 2020 FUND:
Class A Shares..................... 52 15 1 -- (12) --
Amount $ 523 $ 144 $ 10 $ -- $ (121) $ --
Class B Shares..................... 2 1 -- -- -- --
Amount $ 22 $ 10 $ -- $ -- $ -- $ --
Class C Shares..................... 2 1 -- -- -- --
Amount $ 15 $ 10 $ -- $ -- $ -- $ --
Class Y Shares..................... -- 1 -- -- -- --
Amount $ -- $ 10 $ -- $ -- $ -- $ --
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
SHORT DURATION FUND:
Class A Shares..................... (347) (918)
Amount $ (3,422) $ (9,129)
Class B Shares..................... (139) (322)
Amount $ (1,373) $ (3,212)
Class C Shares..................... (641) (1,134)
Amount $ (6,311) $ (11,289)
Class Y Shares..................... (345) 5,258
Amount $ (3,425) $ 52,383
SMALL COMPANY FUND:
Class A Shares..................... (331) (1,708)
Amount $ (6,915) $ (28,458)
Class B Shares..................... (373) (829)
Amount $ (7,317) $ (13,082)
Class C Shares..................... (230) (889)
Amount $ (4,500) $ (13,738)
Class Y Shares..................... 1,581 1,239
Amount $ 36,003 $ 20,619
SMALLCAP GROWTH FUND:
Class A Shares..................... 2,775 599
Amount $ 89,018 $ 16,899
Class B Shares..................... 84 102
Amount $ 2,400 $ 2,544
Class C Shares..................... 226 160
Amount $ 6,419 $ 4,182
Class H Shares..................... (53) (178)
Amount $ (1,495) $ (4,402)
Class L Shares..................... (215) (445)
Amount $ (6,778) $ (12,237)
Class M Shares..................... (52) (117)
Amount $ (1,464) $ (2,919)
Class N Shares..................... (14) (40)
Amount $ (400) $ (983)
Class Y Shares..................... 1,500 1,713
Amount $ 47,887 $ 47,224
STOCK FUND:
Class A Shares..................... (3,711) (17,280)
Amount $ (72,034) $ (307,587)
Class B Shares..................... (2,382) (5,621)
Amount $ (43,857) $ (94,047)
Class C Shares..................... (1,281) (5,657)
Amount $ (23,674) $ (94,768)
Class Y Shares..................... 377 980
Amount $ 7,700 $ 18,040
TARGET RETIREMENT 2010 FUND:
Class A Shares..................... 124 1
Amount $ 1,174 $ 12
Class B Shares..................... 14 1
Amount $ 134 $ 10
Class C Shares..................... 13 1
Amount $ 121 $ 10
Class Y Shares..................... 13 1
Amount $ 121 $ 10
TARGET RETIREMENT 2020 FUND:
Class A Shares..................... 41 15
Amount $ 412 $ 144
Class B Shares..................... 2 1
Amount $ 22 $ 10
Class C Shares..................... 2 1
Amount $ 15 $ 10
Class Y Shares..................... -- 1
Amount $ -- $ 10
</Table>
286
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
TARGET RETIREMENT 2030 FUND:
Class A Shares..................... 17 1 -- -- -- --
Amount $ 151 $ 10 $ 2 $ -- $ (3) $ --
Class B Shares..................... 7 1 -- -- -- --
Amount $ 66 $ 10 $ 2 $ -- $ -- $ --
Class C Shares..................... 4 1 -- -- -- --
Amount $ 38 $ 10 $ 1 $ -- $ -- $ --
Class Y Shares..................... 3 1 -- -- -- --
Amount $ 20 $ 10 $ 1 $ -- $ -- $ --
TAX-FREE CALIFORNIA FUND:
Class A Shares..................... 315 230 29 48 (68) (204)
Amount $ 3,262 $ 2,382 $ 295 $ 495 $ (701) $ (2,114)
Class B Shares..................... 30 33 1 2 (5) (7)
Amount $ 314 $ 336 $ 12 $ 25 $ (50) $ (68)
Class C Shares..................... 32 52 3 4 (20) (8)
Amount $ 330 $ 534 $ 29 $ 43 $ (203) $ (85)
TAX-FREE MINNESOTA FUND:
Class A Shares..................... 96 216 10 16 (41) (100)
Amount $ 983 $ 2,246 $ 107 $ 162 $ (421) $ (1,039)
Class B Shares..................... 5 28 1 2 (9) (12)
Amount $ 55 $ 288 $ 13 $ 20 $ (96) $ (122)
Class C Shares..................... 1 18 -- 1 (4) (9)
Amount $ 12 $ 186 $ 7 $ 11 $ (45) $ (92)
Class E Shares..................... 17 15 39 74 (153) (186)
Amount $ 179 $ 158 $ 405 $ 770 $ (1,572) $ (1,948)
Class H Shares..................... -- -- 1 -- -- --
Amount $ -- $ -- $ 2 $ 4 $ -- $ (1)
Class L Shares..................... 1 25 5 9 (16) (16)
Amount $ 10 $ 265 $ 48 $ 91 $ (160) $ (171)
Class M Shares..................... 1 1 -- -- (1) (9)
Amount $ 4 $ 18 $ 2 $ 4 $ (8) $ (97)
Class N Shares..................... 2 2 1 -- (3) (3)
Amount $ 25 $ 10 $ 2 $ 4 $ (33) $ (27)
Class Y Shares..................... -- 1 -- -- -- --
Amount $ -- $ 9 $ -- $ -- $ -- $ --
TAX-FREE NATIONAL FUND:
Class A Shares..................... 1,531 1,548 103 121 (506) (658)
Amount $ 17,009 $ 17,443 $ 1,144 $ 1,350 $ (5,629) $ (7,390)
Class B Shares..................... 50 162 11 15 (73) (113)
Amount $ 552 $ 1,804 $ 126 $ 168 $ (816) $ (1,259)
Class C Shares..................... 290 320 14 13 (112) (314)
Amount $ 3,211 $ 3,583 $ 152 $ 149 $ (1,240) $ (3,508)
Class E Shares..................... 9 61 54 79 (195) (216)
Amount $ 93 $ 686 $ 589 $ 886 $ (2,170) $ (2,420)
Class H Shares..................... -- -- -- 1 (5) (33)
Amount $ -- $ -- $ 5 $ 9 $ (64) $ (369)
Class L Shares..................... 25 57 15 20 (31) (47)
Amount $ 277 $ 641 $ 167 $ 226 $ (338) $ (528)
Class M Shares..................... -- 2 2 3 (8) (13)
Amount $ 1 $ 19 $ 24 $ 30 $ (85) $ (140)
Class N Shares..................... -- 1 1 1 (4) (6)
Amount $ -- $ -- $ 10 $ 16 $ (38) $ (64)
Class Y Shares..................... -- 1 -- -- -- --
Amount $ -- $ 9 $ -- $ -- $ -- $ --
TAX-FREE NEW YORK FUND:
Class A Shares..................... 13 52 22 37 (46) (16)
Amount $ 131 $ 545 $ 225 $ 387 $ (472) $ (169)
Class B Shares..................... -- 20 3 4 (10) --
Amount $ -- $ 200 $ 28 $ 43 $ (98) $ --
Class C Shares..................... -- 73 4 5 (3) (8)
Amount $ 1 $ 769 $ 37 $ 52 $ (31) $ (88)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
TARGET RETIREMENT 2030 FUND:
Class A Shares..................... 17 1
Amount $ 150 $ 10
Class B Shares..................... 7 1
Amount $ 68 $ 10
Class C Shares..................... 4 1
Amount $ 39 $ 10
Class Y Shares..................... 3 1
Amount $ 21 $ 10
TAX-FREE CALIFORNIA FUND:
Class A Shares..................... 276 74
Amount $ 2,856 $ 763
Class B Shares..................... 26 28
Amount $ 276 $ 293
Class C Shares..................... 15 48
Amount $ 156 $ 492
TAX-FREE MINNESOTA FUND:
Class A Shares..................... 65 132
Amount $ 669 $ 1,369
Class B Shares..................... (3) 18
Amount $ (28) $ 186
Class C Shares..................... (3) 10
Amount $ (26) $ 105
Class E Shares..................... (97) (97)
Amount $ (988) $ (1,020)
Class H Shares..................... 1 --
Amount $ 2 $ 3
Class L Shares..................... (10) 18
Amount $ (102) $ 185
Class M Shares..................... -- (8)
Amount $ (2) $ (75)
Class N Shares..................... -- (1)
Amount $ (6) $ (13)
Class Y Shares..................... -- 1
Amount $ -- $ 9
TAX-FREE NATIONAL FUND:
Class A Shares..................... 1,128 1,011
Amount $ 12,524 $ 11,403
Class B Shares..................... (12) 64
Amount $ (138) $ 713
Class C Shares..................... 192 19
Amount $ 2,123 $ 224
Class E Shares..................... (132) (76)
Amount $ (1,488) $ (848)
Class H Shares..................... (5) (32)
Amount $ (59) $ (360)
Class L Shares..................... 9 30
Amount $ 106 $ 339
Class M Shares..................... (6) (8)
Amount $ (60) $ (91)
Class N Shares..................... (3) (4)
Amount $ (28) $ (48)
Class Y Shares..................... -- 1
Amount $ -- $ 9
TAX-FREE NEW YORK FUND:
Class A Shares..................... (11) 73
Amount $ (116) $ 763
Class B Shares..................... (7) 24
Amount $ (70) $ 244
Class C Shares..................... 1 70
Amount $ 7 $ 733
</Table>
287
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
APRIL 30, 2006 (UNAUDITED)
(000'S OMITTED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
SHARES ISSUED FOR
SHARES SOLD REINVESTED DIVIDENDS SHARES REDEEMED
------------------------ --------------------- ----------------------
2006 2005 2006 2005 2006 2005
---------- ---------- --------- -------- --------- ---------
TOTAL RETURN BOND FUND:
Class A Shares..................... 8,490 7,536 755 1,081 (3,987) (6,575)
Amount $ 89,516 $ 81,793 $ 7,949 $11,696 $ (42,051) $ (71,365)
Class B Shares..................... 834 1,007 145 235 (1,203) (2,001)
Amount $ 8,745 $ 10,886 $ 1,523 $ 2,529 $ (12,631) $ (21,616)
Class C Shares..................... 1,069 1,024 126 208 (1,255) (2,429)
Amount $ 11,294 $ 11,119 $ 1,325 $ 2,255 $ (13,256) $ (26,396)
Class Y Shares..................... 7,301 8,276 563 614 (237) (521)
Amount $ 77,856 $ 90,740 $ 5,984 $ 6,705 $ (2,528) $ (5,670)
U.S. GOVERNMENT SECURITIES FUND:
Class A Shares..................... 681 1,580 97 200 (969) (2,238)
Amount $ 6,312 $ 15,082 $ 900 $ 1,905 $ (8,994) $ (21,353)
Class B Shares..................... 73 306 36 77 (403) (816)
Amount $ 671 $ 2,904 $ 329 $ 729 $ (3,717) $ (7,742)
Class C Shares..................... 94 392 16 37 (223) (839)
Amount $ 883 $ 3,723 $ 146 $ 355 $ (2,063) $ (7,948)
Class E Shares..................... 63 93 201 408 (1,110) (1,606)
Amount $ 579 $ 878 $ 1,859 $ 3,875 $ (10,302) $ (15,284)
Class H Shares..................... 2 14 5 11 (50) (138)
Amount $ 33 $ 126 $ 45 $ 107 $ (470) $ (1,311)
Class L Shares..................... 74 158 69 136 (359) (548)
Amount $ 683 $ 1,513 $ 636 $ 1,291 $ (3,326) $ (5,229)
Class M Shares..................... 10 20 5 10 (46) (118)
Amount $ 85 $ 199 $ 45 $ 100 $ (422) $ (1,129)
Class N Shares..................... 2 5 2 3 (13) (27)
Amount $ 17 $ 46 $ 15 $ 33 $ (115) $ (258)
Class Y Shares..................... -- 961 12 31 (1,004) --
Amount $ 2 $ 9,199 $ 116 $ 292 $ (9,347) $ --
VALUE FUND:
Class A Shares..................... 508 996 41 20 (460) (992)
Amount $ 5,843 $ 10,434 $ 458 $ 204 $ (5,277) $ (10,429)
Class B Shares..................... 72 201 -- -- (90) (183)
Amount $ 810 $ 2,069 $ -- $ -- $ (1,009) $ (1,890)
Class C Shares..................... 54 114 -- -- (66) (279)
Amount $ 618 $ 1,179 $ -- $ -- $ (757) $ (2,885)
Class Y Shares..................... 773 3,361 70 32 (2,416) (12)
Amount $ 8,821 $ 34,573 $ 780 $ 328 $ (27,928) $ (130)
VALUE OPPORTUNITIES FUND:
Class A Shares..................... 1,428 3,015 133 -- (532) (501)
Amount $ 23,772 $ 47,123 $ 2,056 $ -- $ (8,718) $ (7,840)
Class B Shares..................... 194 651 31 -- (83) (150)
Amount $ 3,031 $ 9,516 $ 441 $ -- $ (1,284) $ (2,186)
Class C Shares..................... 315 610 28 -- (202) (124)
Amount $ 4,932 $ 9,022 $ 399 $ -- $ (3,122) $ (1,815)
Class H Shares..................... 6 19 11 -- (71) (139)
Amount $ 93 $ 267 $ 156 $ -- $ (1,109) $ (2,018)
Class L Shares..................... 123 203 58 -- (117) (254)
Amount $ 2,080 $ 3,161 $ 898 $ -- $ (1,942) $ (3,944)
Class M Shares..................... 14 37 17 -- (78) (141)
Amount $ 220 $ 541 $ 250 $ -- $ (1,230) $ (2,037)
Class N Shares..................... 3 6 5 -- (6) (31)
Amount $ 37 $ 99 $ 68 $ -- $ (91) $ (455)
Class Y Shares..................... 723 5,441 215 -- (1,538) (56)
Amount $ 12,304 $ 84,846 $ 3,392 $ -- $ (26,105) $ (888)
<Caption>
NET INCREASE
(DECREASE) OF SHARES
------------------------
2006 2005
---------- ----------
TOTAL RETURN BOND FUND:
Class A Shares..................... 5,258 2,042
Amount $ 55,414 $ 22,124
Class B Shares..................... (224) (759)
Amount $ (2,363) $ (8,201)
Class C Shares..................... (60) (1,197)
Amount $ (637) $ (13,022)
Class Y Shares..................... 7,627 8,369
Amount $ 81,312 $ 91,775
U.S. GOVERNMENT SECURITIES FUND:
Class A Shares..................... (191) (458)
Amount $ (1,782) $ (4,366)
Class B Shares..................... (294) (433)
Amount $ (2,717) $ (4,109)
Class C Shares..................... (113) (410)
Amount $ (1,034) $ (3,870)
Class E Shares..................... (846) (1,105)
Amount $ (7,864) $ (10,531)
Class H Shares..................... (43) (113)
Amount $ (392) $ (1,078)
Class L Shares..................... (216) (254)
Amount $ (2,007) $ (2,425)
Class M Shares..................... (31) (88)
Amount $ (292) $ (830)
Class N Shares..................... (9) (19)
Amount $ (83) $ (179)
Class Y Shares..................... (992) 992
Amount $ (9,229) $ 9,491
VALUE FUND:
Class A Shares..................... 89 24
Amount $ 1,024 $ 209
Class B Shares..................... (18) 18
Amount $ (199) $ 179
Class C Shares..................... (12) (165)
Amount $ (139) $ (1,706)
Class Y Shares..................... (1,573) 3,381
Amount $ (18,327) $ 34,771
VALUE OPPORTUNITIES FUND:
Class A Shares..................... 1,029 2,514
Amount $ 17,110 $ 39,283
Class B Shares..................... 142 501
Amount $ 2,188 $ 7,330
Class C Shares..................... 141 486
Amount $ 2,209 $ 7,207
Class H Shares..................... (54) (120)
Amount $ (860) $ (1,751)
Class L Shares..................... 64 (51)
Amount $ 1,036 $ (783)
Class M Shares..................... (47) (104)
Amount $ (760) $ (1,496)
Class N Shares..................... 2 (25)
Amount $ 14 $ (356)
Class Y Shares..................... (600) 5,385
Amount $ (10,409) $ 83,958
</Table>
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 six-month period ended April 30, 2006, the
Funds did not have any borrowings under this facility.
288
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD ADVISERS FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $15.34 $ 0.15 $ 0.92 $(0.13) $ -- $ --
Class B...................... 15.19 0.08 0.92 (0.07) -- --
Class C...................... 15.34 0.09 0.92 (0.07) -- --
Class Y...................... 15.50 0.20 0.92 (0.17) -- --
For the Year Ended October
31, 2005(h)
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(h)
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(h)
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(h)
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 Six-Month Period
Ended April 30, 2006
Class A...................... 11.46 0.10 1.68 (0.09) (0.01) --
Class B...................... 11.37 0.02 1.71 (0.02) (0.01) --
Class C...................... 11.37 0.02 1.71 (0.02) (0.01) --
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD ADVISERS FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $16.28 6.98%(f) $1,187,183 1.16%(e) 1.11%(e) 1.86%(e) 53%
Class B...................... 16.12 6.57(f) 399,779 1.95(e) 1.90(e) 1.07(e)
Class C...................... 16.28 6.61(f) 240,790 1.86(e) 1.81(e) 1.16(e)
Class Y...................... 16.45 7.22(f) 17,080 0.70(e) 0.65(e) 2.33(e)
For the Year Ended October
31, 2005(h)
Class A...................... 15.34 7.30% 1,222,944 1.21 1.19 1.73 66
Class B...................... 15.19 6.48 437,462 1.99 1.98 0.95 --
Class C...................... 15.34 6.63 253,605 1.91 1.89 1.06 --
Class Y...................... 15.50 7.78 15,342 0.75 0.74 2.13 --
For the Year Ended October
31, 2004(h)
Class A...................... 14.57 3.93(i) 1,539,264 1.22 1.22 1.23 42
Class B...................... 14.43 3.21(i) 550,499 1.95 1.95 0.50 --
Class C...................... 14.56 3.27(i) 355,711 1.86 1.86 0.58 --
Class Y...................... 14.72 4.22 13,587 0.74 0.74 1.71 --
For the Year Ended October
31, 2003(h)
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(h)
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 Six-Month Period
Ended April 30, 2006
Class A...................... 13.14 15.56(f) 97,860 0.80(e) 0.71(e) 1.17(e) 14
Class B...................... 13.07 15.17(f) 30,180 1.62(e) 1.36(e) 0.69(e) --
Class C...................... 13.07 15.17(f) 45,415 1.51(e) 1.36(e) 0.75(e) --
For the Year Ended October
31, 2005
Class A...................... 11.46 10.60 58,087 0.85 0.68 (0.43) 9
Class B...................... 11.37 9.88 20,155 1.64 1.33 (1.08) --
Class C...................... 11.37 9.88 32,718 1.53 1.34 (1.08) --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.38 3.80(f) 12,415 0.86(e) 0.67(e) (0.58)(e) 3
Class B...................... 10.35 3.50(f) 4,532 1.69(e) 1.32(e) (1.23)(e) --
Class C...................... 10.35 3.50(f) 5,424 1.59(e) 1.32(e) (1.23)(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
289
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 BALANCED
ALLOCATION FUND(G)
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.95 $ 0.13 $ 0.96 $(0.13) $(0.02) $ --
Class B...................... 10.92 0.09 0.96 (0.09) (0.02) --
Class C...................... 10.92 0.09 0.96 (0.09) (0.02) --
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 Six-Month Period
Ended April 30, 2006
Class A...................... 36.51 0.10 5.56 -- (3.42) --
Class B...................... 33.90 (0.03) 5.11 -- (3.42) --
Class C...................... 34.00 (0.01) 5.13 -- (3.42) --
Class Y...................... 38.47 0.18 5.90 -- (3.42) --
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(h)
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) --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD BALANCED
ALLOCATION FUND(G)
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.89 10.07%(f) $ 375,867 0.62%(e) 0.62%(e) 2.21%(e) 16%
Class B...................... 11.86 9.72(f) 96,529 1.44(e) 1.34(e) 1.56(e) --
Class C...................... 11.86 9.72(f) 143,183 1.38(e) 1.34(e) 1.47(e) --
For the Year Ended October
31, 2005
Class A...................... 10.95 7.47 262,878 0.66 0.60 1.26 2
Class B...................... 10.92 6.66 72,619 1.47 1.31 0.55 --
Class C...................... 10.92 6.66 103,248 1.41 1.31 0.56 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.30 3.15(f) 67,293 0.62(e) 0.59(e) 0.99(e) --
Class B...................... 10.28 2.82(f) 18,841 1.45(e) 1.29(e) 0.33(e) --
Class C...................... 10.28 2.82(f) 30,414 1.38(e) 1.29(e) 0.30(e) --
THE HARTFORD CAPITAL
APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 38.75 16.79(f) 8,191,287 1.18(e) 1.18(e) 0.62(e) 41
Class B...................... 35.56 16.33(f) 1,855,176 1.97(e) 1.97(e) (0.17)(e) --
Class C...................... 35.70 16.41(f) 2,552,217 1.89(e) 1.89(e) (0.08)(e) --
Class Y...................... 41.13 17.05(f) 344,380 0.74(e) 0.74(e) 1.07(e) --
For the Year Ended October
31, 2005
Class A...................... 36.51 18.54 6,071,891 1.26 1.26 0.31 93
Class B...................... 33.90 17.63 1,631,199 2.03 2.03 (0.45) --
Class C...................... 34.00 17.73 1,834,562 1.94 1.94 (0.37) --
Class Y...................... 38.47 19.14 245,163 0.78 0.78 0.76 --
For the Year Ended October
31, 2004
Class A...................... 30.80 16.23 4,203,178 1.35 1.35 (0.05) 78
Class B...................... 28.82 15.42 1,432,121 2.06 2.06 (0.78) --
Class C...................... 28.88 15.52 1,348,972 1.97 1.97 (0.68) --
Class Y...................... 32.29 16.82 116,527 0.79 0.79 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(h)
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 --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 CAPITAL
APPRECIATION II FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.07 $ -- $ 2.09 $ -- $(0.15) $ --
Class B...................... 11.02 (0.03) 2.08 -- (0.15) --
Class C...................... 11.04 (0.03) 2.07 -- (0.15) --
Class Y...................... 11.08 0.02 2.12 -- (0.15) --
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 -- -- --
THE HARTFORD CONSERVATIVE
ALLOCATION FUND(G)
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.57 0.17 0.56 (0.19) (0.12) --
Class B...................... 10.56 0.14 0.56 (0.15) (0.12) --
Class C...................... 10.56 0.14 0.55 (0.15) (0.12) --
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) -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD CAPITAL
APPRECIATION II FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $13.01 19.11%(f) $ 149,896 1.68%(e) 1.60%(e) (0.08)%(e) 50%
Class B...................... 12.92 18.83(f) 17,982 2.56(e) 2.31(e) (0.78)(e) --
Class C...................... 12.93 18.71(f) 56,204 2.40(e) 2.35(e) (0.83)(e) --
Class Y...................... 13.07 19.55(f) 397 1.22(e) 1.15(e) 0.33(e) --
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 11.07 10.70(f) 56,981 1.99(e) 1.60(e) (0.30)(e) 46
Class B...................... 11.02 10.20(f) 6,343 2.97(e) 2.35(e) (1.10)(e) --
Class C...................... 11.04 10.40(f) 19,494 2.82(e) 2.35(e) (1.12)(e) --
Class Y...................... 11.08 10.80(f) 332 1.41(e) 1.15(e) 0.29(e) --
THE HARTFORD CONSERVATIVE
ALLOCATION FUND(G)
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.99 6.96(f) 80,232 0.63(e) 0.62(e) 3.25(e) 21
Class B...................... 10.99 6.70(f) 17,937 1.46(e) 1.29(e) 2.58(e) --
Class C...................... 10.98 6.61(f) 39,965 1.40(e) 1.29(e) 2.38(e) --
For the Year Ended October
31, 2005
Class A...................... 10.57 4.96 70,533 0.63 0.60 2.25 23
Class B...................... 10.56 4.26 14,525 1.48 1.26 1.60 --
Class C...................... 10.56 4.26 27,453 1.42 1.26 1.56 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.27 2.96(f) 33,921 0.63(e) 0.60(e) 1.70(e) --
Class B...................... 10.26 2.70(f) 4,993 1.44(e) 1.25(e) 1.05(e) --
Class C...................... 10.26 2.70(f) 10,807 1.38(e) 1.25(e) 1.17(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
291
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 DISCIPLINED
EQUITY FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.78 $ 0.01 $ 0.94 $(0.02) $ -- $ --
Class B...................... 11.25 (0.01) 0.88 -- -- --
Class C...................... 11.26 (0.01) 0.88 -- -- --
Class Y...................... 12.12 0.09 0.93 (0.08) -- --
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(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD DISCIPLINED
EQUITY FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $12.71 8.05%(f) $202,193 1.40%(e) 1.40%(e) 0.40%(e) 31%
Class B...................... 12.12 7.73(f) 38,980 2.31(e) 2.06(e) (0.27)(e) --
Class C...................... 12.13 7.73(f) 32,204 2.09(e) 2.09(e) (0.30)(e) --
Class Y...................... 13.06 8.44(f) 152,056 0.89(e) 0.89(e) 0.89(e) --
For the Year Ended October
31, 2005
Class A...................... 11.78 11.19 209,721 1.41 1.40 0.81 61
Class B...................... 11.25 10.35 39,806 2.34 2.15 0.06 --
Class C...................... 11.26 10.29 33,690 2.11 2.11 0.12 --
Class Y...................... 12.12 11.62 81,582 0.90 0.90 0.97 --
For the Year Ended October
31, 2004
Class A...................... 10.67 5.92 241,014 1.46 1.45 0.30 62
Class B...................... 10.20 5.16 44,561 2.34 2.15 (0.41) --
Class C...................... 10.22 5.25(i) 40,965 2.10 2.10 (0.36) --
Class Y...................... 10.99 6.55 19,578 0.88 0.88 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
See Notes to 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 Six-Month Period
Ended April 30, 2006
Class A...................... $19.10 $0.14 $ 1.90 $(0.13) $(0.76) $ --
Class B...................... 18.84 0.05 1.88 (0.05) (0.76) --
Class C...................... 18.81 0.06 1.88 (0.06) (0.76) --
Class Y...................... 19.30 0.19 1.92 (0.17) (0.76) --
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)(j) -- --
Class B...................... 13.43 0.03 2.32 (0.03)(j) -- --
Class C...................... 13.40 0.04 2.32 (0.04)(j) -- --
Class Y...................... 13.73 0.19 2.40 (0.21)(j) -- --
For the Year Ended October
31, 2002(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD DIVIDEND AND
GROWTH FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $20.25 11.07%(f) $2,394,834 1.13%(e) 1.13%(e) 1.43%(e) 15%
Class B...................... 19.96 10.60(f) 358,402 1.99(e) 1.98(e) 0.59(e) --
Class C...................... 19.93 10.69(f) 297,142 1.86(e) 1.86(e) 0.72(e) --
Class Y...................... 20.48 11.35(f) 124,981 0.70(e) 0.69(e) 1.87(e) --
For the Year Ended October
31, 2005
Class A...................... 19.10 9.87 2,109,617 1.17 1.17 1.25 26
Class B...................... 18.84 8.92 343,650 2.01 2.01 0.41 --
Class C...................... 18.81 9.08 280,967 1.89 1.89 0.54 --
Class Y...................... 19.30 10.36 114,777 0.73 0.73 1.64 --
For the Year Ended October
31, 2004
Class A...................... 17.79 12.53(i) 1,838,567 1.23 1.23 0.96 25
Class B...................... 17.56 11.62 319,512 2.04 2.04 0.16 --
Class C...................... 17.53 11.76(i) 277,706 1.90 1.90 0.29 --
Class Y...................... 17.97 13.06 69,088 0.75 0.75 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
(j) This includes a tax return of capital of less than $0.01.
293
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 Six-Month Period
Ended April 30, 2006
Class A...................... $12.09 $ 0.13 $1.20 $(0.15) $(0.03) $ --
Class B...................... 12.07 0.09 1.18 (0.10) (0.03) --
Class C...................... 12.08 0.09 1.19 (0.11) (0.03) --
Class Y...................... 12.15 0.15 1.21 (0.18) (0.03) --
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
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.09 0.29 0.07 (0.30) -- --
Class B...................... 10.08 0.25 0.06 (0.25) -- --
Class C...................... 10.08 0.25 0.07 (0.26) -- --
Class Y...................... 10.08 0.30 0.07 (0.31) -- --
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) -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD EQUITY INCOME
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $13.24 11.13%(f) $446,339 1.32%(e) 1.02%(e) 2.15%(e) 9%
Class B...................... 13.21 10.60(f) 37,433 2.16(e) 1.86(e) 1.31(e) --
Class C...................... 13.22 10.67(f) 54,077 2.02(e) 1.72(e) 1.46(e) --
Class Y...................... 13.30 11.31(f) 1,215 0.89(e) 0.59(e) 2.55(e) --
For the Year Ended October
31, 2005
Class A...................... 12.09 9.74 379,604 1.34 0.51 2.41 23
Class B...................... 12.07 8.84 33,989 2.18 1.38 1.53 --
Class C...................... 12.08 9.00 53,435 2.03 1.23 1.70 --
Class Y...................... 12.15 10.22 784 0.91 0.11 2.79 --
For the Year Ended October
31, 2004
Class A...................... 11.28 10.82 211,826 1.40 0.56 2.26 22
Class B...................... 11.26 9.93 18,438 2.20 1.37 1.46 --
Class C...................... 11.27 10.12 44,043 2.02 1.19 1.64 --
Class Y...................... 11.33 11.53 375 0.91 0.11 2.73 --
From inception August 28,
2003, through October 31,
2003
Class A...................... 10.37 3.70(f) 26,649 1.53(e) 0.73(e) 1.81(e) 1
Class B...................... 10.36 3.60(f) 2,421 2.27(e) 1.47(e) 1.10(e) --
Class C...................... 10.36 3.60(f) 7,639 2.15(e) 1.35(e) 1.23(e) --
Class Y...................... 10.39 3.90(f) 104 0.93(e) 0.13(e) 2.17(e) --
THE HARTFORD FLOATING RATE
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.15 3.57(f) 693,043 1.01(e) 0.38(e) 6.18(e) 17
Class B...................... 10.14 3.16(f) 19,170 1.87(e) 1.24(e) 5.29(e) --
Class C...................... 10.14 3.18(f) 347,906 1.79(e) 1.16(e) 5.39(e) --
Class Y...................... 10.14 3.73(f) 49,509 0.71(e) 0.08(e) 6.50(e) --
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.09 3.06(f) 169,485 1.03(e) 0.29(e) 5.68(e) 15
Class B...................... 10.08 2.66(f) 5,659 1.89(e) 1.04(e) 4.91(e) --
Class C...................... 10.08 2.67(f) 92,710 1.79(e) 1.02(e) 5.03(e) --
Class Y...................... 10.08 3.10(f) 10,062 0.73(e) 0.01(e) 6.06(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
See Notes to 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 REALIZE DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD FOCUS FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $10.26 $ 0.01 $ 0.75 $(0.07) $ -- $ --
Class B...................... 9.94 (0.02) 0.71 -- -- --
Class C...................... 9.94 (0.03) 0.73 -- -- --
Class Y...................... 10.44 0.04 0.75 (0.11) -- --
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(h)
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD FOCUS FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $10.95 7.38%(f) $47,813 1.66%(e) 1.50%(e) 0.26%(e) 74%
Class B...................... 10.63 6.94(f) 15,067 2.45(e) 2.25(e) (0.48)(e) --
Class C...................... 10.64 7.04(f) 15,283 2.37(e) 2.25(e) (0.50)(e) --
Class Y...................... 11.12 7.60(f) 484 1.16(e) 1.06(e) 0.69(e) --
For the Year Ended October
31, 2005
Class A...................... 10.26 12.31 50,067 1.65 1.60 0.68 112
Class B...................... 9.94 11.44 15,156 2.45 2.35 (0.09) --
Class C...................... 9.94 11.44 16,737 2.36 2.35 (0.05) --
Class Y...................... 10.44 12.86 473 1.16 1.16 1.27 --
For the Year Ended October
31, 2004
Class A...................... 9.14 2.24(i) 67,212 1.62 1.62 (0.25) 104
Class B...................... 8.92 1.48(i) 18,610 2.36 2.35 (0.98) --
Class C...................... 8.92 1.59(i) 23,901 2.28 2.28 (0.91) --
Class Y...................... 9.28 2.65 815 1.11 1.11 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(h)
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)(f) 66,970 1.68(e) 1.63(e) (0.18)(e) 109
Class B...................... 8.79 (12.10)(f) 18,524 2.35(e) 2.35(e) (0.89)(e) --
Class C...................... 8.79 (12.10)(f) 24,142 2.35(e) 2.35(e) (0.89)(e) --
Class Y...................... 8.83 (11.70)(f) 9 1.20(e) 1.20(e) 0.25(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
295
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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
COMMUNICATIONS FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 7.12 $ 0.05 $ 0.93 $(0.10) $ -- $ --
Class B...................... 6.92 0.03 0.90 (0.07) -- --
Class C...................... 6.91 0.02 0.90 (0.05) -- --
Class Y...................... 7.27 0.06 0.95 (0.13) -- --
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(h)
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(h)
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $8.00 13.89%(f) $27,018 1.81%(e) 1.15%(e) 1.22%(e) 37%
Class B...................... 7.78 13.49(f) 4,448 2.81(e) 1.72(e) 0.69(e) --
Class C...................... 7.78 13.45(f) 4,690 2.64(e) 1.91(e) 0.44(e) --
Class Y...................... 8.15 14.02(f) 929 1.31(e) 0.75(e) 1.57(e) --
For the Year Ended October
31, 2005
Class A...................... 7.12 31.01 15,986 2.01 1.51 1.75 45
Class B...................... 6.92 29.92 2,815 3.22 2.26 1.02 --
Class C...................... 6.91 29.97 2,765 2.94 2.25 1.08 --
Class Y...................... 7.27 31.36 638 1.36 1.06 2.10 --
For the Year Ended October
31, 2004(h)
Class A...................... 5.48 17.34 8,929 1.93 1.65 1.08 85
Class B...................... 5.34 16.59 1,482 3.32 2.35 0.37 --
Class C...................... 5.33 16.63 1,306 2.97 2.35 0.43 --
Class Y...................... 5.60 18.14 170 1.30 1.20 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 FINANCIAL
SERVICES FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.60 $ 0.07 $ 2.09 $(0.11) $ -- $ --
Class B...................... 11.39 0.05 2.03 (0.04) -- --
Class C...................... 11.39 0.03 2.04 (0.03) -- --
Class Y...................... 11.73 0.10 2.10 (0.16) -- --
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(h)
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(h)
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GLOBAL FINANCIAL
SERVICES FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $13.65 18.73%(f) $17,153 1.84%(e) 1.15%(e) 1.16%(e) 14%
Class B...................... 13.43 18.33(f) 3,737 2.84(e) 1.79(e) 0.49(e) --
Class C...................... 13.43 18.23(f) 3,358 2.72(e) 1.89(e) 0.44(e) --
Class Y...................... 13.77 18.87(f) 888 1.37(e) 0.75(e) 1.54(e) --
For the Year Ended October
31, 2005
Class A...................... 11.60 12.39 13,958 1.88 1.51 0.91 33
Class B...................... 11.39 11.58 3,147 2.91 2.28 0.15 --
Class C...................... 11.39 11.58 2,769 2.77 2.27 0.16 --
Class Y...................... 11.73 12.91 773 1.36 1.09 1.30 --
For the Year Ended October
31, 2004(h)
Class A...................... 10.44 8.42 12,910 1.78 1.65 1.17 85
Class B...................... 10.26 7.71 3,043 2.80 2.35 0.44 --
Class C...................... 10.26 7.71 2,459 2.68 2.35 0.44 --
Class Y...................... 10.55 9.06 642 1.27 1.20 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
297
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD GLOBAL HEALTH
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $16.50 $(0.05) $ 1.42 $ -- $(1.00) $ --
Class B...................... 15.81 (0.10) 1.35 -- (1.00) --
Class C...................... 15.81 (0.10) 1.35 -- (1.00) --
Class Y...................... 17.05 (0.01) 1.47 -- (1.00) --
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) 1.33 -- (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(h)
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GLOBAL HEALTH
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $16.87 8.71%(f) $245,848 1.65%(e) 1.58%(e) (0.59%)(e) 13%
Class B...................... 16.06 8.30(f) 76,671 2.47(e) 2.26(e) (1.28)(e) --
Class C...................... 16.06 8.30(f) 83,955 2.32(e) 2.32(e) (1.33)(e) --
Class Y...................... 17.51 8.97(f) 185,097 1.08(e) 1.08(e) (0.10)(e) --
For the Year Ended October
31, 2005
Class A...................... 16.50 15.67 209,835 1.71 1.60 (0.55) 50
Class B...................... 15.81 14.86 71,204 2.52 2.35 (1.30) --
Class C...................... 15.81 14.78 72,546 2.36 2.35 (1.30) --
Class Y...................... 17.05 16.19 169,698 1.08 1.08 (0.12) --
For the Year Ended October
31, 2004
Class A...................... 15.00 9.21 170,672 1.81 1.65 (0.68) 41
Class B...................... 14.50 8.49 66,035 2.55 2.35 (1.38) --
Class C...................... 14.51 8.49 61,390 2.37 2.35 (1.38) --
Class Y...................... 15.41 9.88 1,299 1.12 1.12 (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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 LEADERS
FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $16.80 $(0.03) $ 3.14 $(0.02) $(0.19) $ --
Class B...................... 15.93 (0.09) 2.97 -- (0.19) --
Class C...................... 16.01 (0.09) 2.98 -- (0.19) --
Class Y...................... 17.46 0.02 3.26 (0.10) (0.19) --
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(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GLOBAL LEADERS
FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $19.70 18.69%(f) $456,267 1.54%(e) 1.46%(e) (0.33%)(e) 74%
Class B...................... 18.62 18.28(f) 83,789 2.46(e) 2.16(e) (1.03)(e) --
Class C...................... 18.71 18.25(f) 74,900 2.21(e) 2.21(e) (1.09)(e) --
Class Y...................... 20.45 19.05(f) 129,617 0.95(e) 0.95(e) 0.24(e) --
For the Year Ended October
31, 2005
Class A...................... 16.80 1.88 419,648 1.58 1.48 0.41 270
Class B...................... 15.93 1.02 78,986 2.51 2.35 (0.45) --
Class C...................... 16.01 1.07 71,623 2.25 2.25 (0.34) --
Class Y...................... 17.46 2.34 83,896 0.97 0.97 0.87 --
For the Year Ended October
31, 2004
Class A...................... 16.49 18.12 466,013 1.62 1.62 (0.36) 271
Class B...................... 15.77 17.25 90,179 2.52 2.35 (1.09) --
Class C...................... 15.84 17.42 87,518 2.24 2.24 (0.98) --
Class Y...................... 17.06 18.97 58,791 0.93 0.93 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(h)
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.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
299
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 GLOBAL TECHNOLOGY
FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 4.97 $(0.04) $ 0.86 $ -- $ -- $--
Class B...................... 4.77 (0.07) 0.84 -- -- --
Class C...................... 4.77 (0.08) 0.85 -- -- --
Class Y...................... 5.09 (0.03) 0.88 -- -- --
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 Six-Month Period
Ended April 30, 2006
Class A...................... 11.27 0.11 1.28 (0.12) (0.01) --
Class B...................... 11.19 0.05 1.31 (0.06) (0.01) --
Class C...................... 11.19 0.05 1.30 (0.06) (0.01) --
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GLOBAL TECHNOLOGY
FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 5.79 16.50%(f) $ 36,348 2.07%(e) 1.32%(e) (0.75%)(e) 67%
Class B...................... 5.54 16.14(f) 14,243 2.93(e) 1.97(e) (1.40)(e) --
Class C...................... 5.54 16.14(f) 12,426 2.68(e) 2.20(e) (1.63)(e) --
Class Y...................... 5.94 16.70(f) 1,202 1.23(e) 1.20(e) (0.63)(e) --
For the Year Ended October
31, 2005
Class A...................... 4.97 12.44 27,620 2.22 1.60 -- 132
Class B...................... 4.77 11.45 12,409 3.05 2.35 (0.79) --
Class C...................... 4.77 11.45 10,712 2.75 2.35 (0.65) --
Class Y...................... 5.09 12.86 938 1.22 1.20 0.58 --
For the Year Ended October
31, 2004
Class A...................... 4.42 (5.56) 31,418 2.14 1.65 (1.37) 165
Class B...................... 4.28 (6.14) 12,978 2.96 2.35 (2.07) --
Class C...................... 4.28 (6.14) 13,891 2.62 2.35 (2.07) --
Class Y...................... 4.51 (5.05) 1,186 1.15 1.15 (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 Six-Month Period
Ended April 30, 2006
Class A...................... 12.53 12.47(f) 309,262 0.69(e) 0.66(e) 1.58(e) 15
Class B...................... 12.48 12.15(f) 95,431 1.51(e) 1.31(e) 0.92(e) --
Class C...................... 12.47 12.06(f) 148,188 1.44(e) 1.31(e) 0.97(e) --
For the Year Ended October
31, 2005
Class A...................... 11.27 9.12 205,331 0.72 0.64 0.42 1
Class B...................... 11.19 8.37 65,739 1.53 1.29 (0.23) --
Class C...................... 11.19 8.47 100,339 1.47 1.29 (0.23) --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.36 3.60(f) 43,279 0.72(e) 0.63(e) 0.13(e) --
Class B...................... 10.34 3.40(f) 14,177 1.52(e) 1.28(e) (0.53)(e) --
Class C...................... 10.33 3.30(f) 21,221 1.44(e) 1.28(e) (0.52)(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $17.32 $(0.03) $ 1.79 $ -- $ -- $ --
Class B...................... 15.38 (0.09) 1.59 -- -- --
Class C...................... 15.40 (0.08) 1.59 -- -- --
Class H...................... 15.53 (0.07) 1.60 -- -- --
Class L...................... 17.50 -- 1.80 -- -- --
Class M...................... 15.51 (0.07) 1.60 -- -- --
Class N...................... 15.51 (0.07) 1.60 -- -- --
Class Y...................... 17.65 0.01 1.82 -- -- --
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 TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GROWTH FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $19.08 10.16%(f) $740,097 1.32%(e) 1.32%(e) (0.31%)(e) 45%
Class B...................... 16.88 9.75(f) 50,047 2.18(e) 2.06(e) (1.05)(e)
Class C...................... 16.91 9.81(f) 93,356 1.99(e) 1.99(e) (0.98)(e)
Class H...................... 17.06 9.85(f) 18,886 1.77(e) 1.77(e) (0.77)(e)
Class L...................... 19.30 10.29(f) 304,461 1.02(e) 1.02(e) (0.02)(e)
Class M...................... 17.04 9.86(f) 18,552 1.77(e) 1.77(e) (0.77)(e)
Class N...................... 17.04 9.86(f) 4,396 1.77(e) 1.77(e) (0.77)(e)
Class Y...................... 19.48 10.37(f) 136,579 0.80(e) 0.80(e) 0.13(e)
For the Year Ended October
31, 2005
Class A...................... 17.32 6.98 635,057 1.40 1.33 (0.30) 77
Class B...................... 15.38 6.14 46,251 2.27 2.15 (1.09) --
Class C...................... 15.40 6.21 82,481 2.05 2.05 (1.01) --
Class H...................... 15.53 6.44 19,852 1.81 1.81 (0.68) --
Class L...................... 17.50 7.23 295,731 1.06 1.06 0.05 --
Class M...................... 15.51 6.45 19,133 1.81 1.81 (0.69) --
Class N...................... 15.51 6.45 4,377 1.81 1.81 (0.71) --
Class Y...................... 17.65 7.49 52,992 0.85 0.85 0.10 --
For the Year Ended October
31, 2004
Class A...................... 16.19 6.58 384,160 1.55 1.45 (0.84) 66
Class B...................... 14.49 5.77 32,440 2.33 2.15 (1.54) --
Class C...................... 14.50 5.84 47,575 2.07 2.07 (1.45) --
Class H...................... 14.59 6.19 23,527 1.83 1.83 (1.23) --
Class L...................... 16.32 6.95 310,084 1.08 1.08 (0.48) --
Class M...................... 14.57 6.20 21,522 1.83 1.83 (1.23) --
Class N...................... 14.57 6.20 4,356 1.83 1.83 (1.23) --
Class Y...................... 16.42 7.25 11,926 0.87 0.87 (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)(f) 5,970 1.65(e) 1.45(e) (0.44)(e) 107
Class B...................... 10.80 (18.67)(f) 1,698 2.32(e) 2.15(e) (1.10)(e) --
Class C...................... 10.80 (18.68)(f) 1,480 2.18(e) 2.15(e) (1.13)(e) --
Class Y...................... 11.94 (18.05)(f) 1 0.90(e) 0.90(e) (0.01)(e) --
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)(f) 37,750 1.86(e) 1.86(e) (1.09)(e) 13
Class L...................... 14.23 (5.70)(f) 385,620 1.11(e) 1.11(e) (0.34)(e) --
Class M...................... 13.00 (5.87)(f) 28,112 1.86(e) 1.86(e) (1.09)(e) --
Class N...................... 13.00 (5.87)(f) 6,911 1.86(e) 1.86(e) (1.09)(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
301
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $27.84 $(0.04) $ 4.44 $ -- $(2.03) $ --
Class B...................... 24.42 (0.13) 3.85 -- (2.03) --
Class C...................... 24.42 (0.11) 3.83 -- (2.03) --
Class H...................... 24.67 (0.13) 3.92 -- (2.03) --
Class L...................... 28.17 (0.04) 4.51 -- (2.03) --
Class M...................... 24.63 (0.12) 3.91 -- (2.03) --
Class N...................... 24.63 (0.13) 3.91 -- (2.03) --
Class Y...................... 28.37 -- 4.55 -- (2.03) --
Class Z...................... 29.37 -- 4.72 -- (2.03) --
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>
-- SELECTED PER-SHARE DATA(A) -- -- 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD GROWTH
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $30.21 16.75%(f) $341,445 1.63%(e) 1.19%(e) (0.36%)(e) 67%
Class B...................... 26.11 16.28(f) 32,077 2.26(e) 2.06(e) (1.24)(e) --
Class C...................... 26.11 16.28(f) 40,910 2.07(e) 2.07(e) (1.24)(e) --
Class H...................... 26.43 16.40(f) 39,285 1.80(e) 1.80(e) (0.99)(e) --
Class L...................... 30.61 16.81(f) 619,747 1.05(e) 1.05(e) (0.24)(e) --
Class M...................... 26.38 16.39(f) 23,561 1.80(e) 1.80(e) (0.99)(e) --
Class N...................... 26.39 16.43(f) 5,860 1.80(e) 1.80(e) (0.99)(e) --
Class Y...................... 30.89 16.98(f) 60,754 0.84(e) 0.84(e) 0.01(e) --
Class Z...................... 32.06 16.98(f) 38,593 0.80(e) 0.80(e) 0.01(e) --
For the Year Ended October
31, 2005
Class A...................... 27.84 18.52 222,682 1.54 1.36 (0.45) 156
Class B...................... 24.42 17.57 20,002 2.39 2.15 (1.27) --
Class C...................... 24.42 17.57 18,842 2.13 2.13 (1.26) --
Class H...................... 24.67 17.92 37,499 1.84 1.84 (0.97) --
Class L...................... 28.17 18.81 556,462 1.09 1.09 (0.22) --
Class M...................... 24.63 17.90 22,299 1.84 1.84 (0.97) --
Class N...................... 24.63 17.90 5,297 1.84 1.84 (0.97) --
Class Y...................... 28.37 19.10 28,441 0.88 0.88 -- --
Class Z...................... 29.37 19.10 34,088 0.84 0.84 0.02 --
For the Year Ended October
31, 2004
Class A...................... 23.49 10.54 54,652 1.52 1.45 (0.94) 130
Class B...................... 20.77 9.84 11,518 2.45 2.14 (1.64) --
Class C...................... 20.77 9.84 11,899 2.11 2.11 (1.61) --
Class H...................... 20.92 10.16 39,300 1.83 1.83 (1.33) --
Class L...................... 23.71 11.00 518,009 1.08 1.08 (0.58) --
Class M...................... 20.89 10.12 22,404 1.83 1.83 (1.33) --
Class N...................... 20.89 10.12 4,955 1.83 1.83 (1.33) --
Class Y...................... 23.82 11.20 4,792 0.82 0.82 (0.33) --
Class Z...................... 24.66 11.23 33,195 0.83 0.83 (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)(f) 3,338 1.62(e) 1.45(e) (0.92)(e) 182
Class B...................... 13.71 (22.99)(f) 777 2.30(e) 2.15(e) (1.60)(e) --
Class C...................... 13.70 (23.05)(f) 892 2.09(e) 2.09(e) (1.56)(e) --
Class Y...................... 15.35 (22.47)(f) 1 0.89(e) 0.89(e) (0.44)(e) --
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)(f) 54,539 1.83(e) 1.83(e) (1.27)(e) 28
Class L...................... 19.21 (11.15)(f) 593,267 1.08(e) 1.08(e) (0.52)(e) --
Class M...................... 17.33 (11.26)(f) 27,013 1.83(e) 1.83(e) (1.27)(e) --
Class N...................... 17.34 (11.21)(f) 6,131 1.83(e) 1.83(e) (1.27)(e) --
Class Z...................... 19.77 (11.11)(f) 94,961 0.83(e) 0.83(e) (0.27)(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 HIGH YIELD FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $ 7.76 $0.26 $ 0.11 $(0.26) $ -- $ --
Class B...................... 7.74 0.23 0.12 (0.23) -- --
Class C...................... 7.75 0.23 0.12 (0.23) -- --
Class Y...................... 7.75 0.28 0.11 (0.28) -- --
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(h)
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(h)
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(h)
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 Six-Month Period
Ended April 30, 2006
Class A...................... 9.89 0.21 (0.09) (0.21) (0.02) --
Class B...................... 9.88 0.18 (0.08) (0.18) (0.02) --
Class C...................... 9.88 0.18 (0.08) (0.18) (0.02) --
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 TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD HIGH YIELD FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $ 7.87 4.81%(f) $192,478 1.36%(e) 1.20%(e) 6.66%(e) 83%
Class B...................... 7.86 4.56(f) 41,033 2.16(e) 1.95(e) 5.89(e) --
Class C...................... 7.87 4.60(f) 42,618 2.04(e) 1.89(e) 5.95(e) --
Class Y...................... 7.86 5.07(f) 23,256 0.88(e) 0.73(e) 7.11(e) --
For the Year Ended October
31, 2005
Class A...................... 7.76 0.97 188,599 1.33 1.33 5.86 113
Class B...................... 7.74 0.08 47,071 2.12 2.10 5.09 --
Class C...................... 7.75 0.30 50,945 2.00 2.00 5.18 --
Class Y...................... 7.75 1.43 25,974 0.87 0.87 6.40 --
For the Year Ended October
31, 2004(h)
Class A...................... 8.18 9.26(i) 247,364 1.35 1.35 6.03 86
Class B...................... 8.17 8.45(i) 63,972 2.07 2.07 5.32 --
Class C...................... 8.17 8.54(i) 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(h)
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(h)
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 Six-Month Period
Ended April 30, 2006
Class A...................... 9.78 1.22(f) 22,418 0.78(e) 0.59(e) 4.38(e) 24
Class B...................... 9.78 0.97(f) 4,702 1.56(e) 1.29(e) 3.60(e) --
Class C...................... 9.78 0.97(f) 8,644 1.51(e) 1.29(e) 3.57(e) --
For the Year Ended October
31, 2005
Class A...................... 9.89 1.01 19,445 0.76 0.56 3.75 30
Class B...................... 9.88 0.29 4,778 1.56 1.26 3.09 --
Class C...................... 9.88 0.30 7,711 1.51 1.26 3.04 --
From (commencement of
operations) May 28, 2004,
through October 31, 2004
Class A...................... 10.15 2.42(f) 10,539 0.73(e) 0.56(e) 3.21(e) 3
Class B...................... 10.14 2.08(f) 1,690 1.63(e) 1.26(e) 2.56(e) --
Class C...................... 10.14 2.08(f) 4,880 1.48(e) 1.26(e) 2.59(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
303
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 INCOME FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.24 $0.27 $(0.09) $(0.26) $ -- $ --
Class B...................... 10.24 0.23 (0.08) (0.23) -- --
Class C...................... 10.26 0.23 (0.08) (0.23) -- --
Class Y...................... 10.24 0.28 (0.09) (0.28) -- --
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 Six-Month Period
Ended April 30, 2006
Class A...................... 10.67 0.15 (0.29) (0.20) (0.03) --
Class B...................... 10.68 0.12 (0.30) (0.16) (0.03) --
Class C...................... 10.67 0.12 (0.29) (0.16) (0.03) --
Class Y...................... 10.68 0.18 (0.29) (0.22) (0.03) --
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 RATIO OF
EXPENSES EXPENSES NET
TO AVERAGE TO AVERAGE INVESTMENT
NET ASSET NET ASSETS NET ASSETS NET ASSETS INCOME
VALUE AT AT END OF BEFORE AFTER TO AVERAGE PORTFOLIO
END OF TOTAL PERIOD WAIVERS AND WAIVERS AND NET TURNOVER
PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD INCOME FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.16 1.80%(f) $ 32,374 1.22%(e) 0.95%(e) 2.87%(e) 56%
Class B...................... 10.16 1.42(f) 6,026 2.07(e) 1.70(e) 2.40(e) --
Class C...................... 10.18 1.42(f) 5,554 1.99(e) 1.70(e) 2.08(e) --
Class Y...................... 10.15 1.83(f) 24,266 0.81(e) 0.70(e) 6.07(e) --
For the Year Ended October
31, 2005
Class A...................... 10.24 0.70 28,942 1.20 0.95 4.80 188
Class B...................... 10.24 (0.04) 5,973 2.06 1.70 4.05 --
Class C...................... 10.26 (0.03) 5,142 1.96 1.70 4.05 --
Class Y...................... 10.24 0.98 16,431 0.79 0.70 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(f) 10 0.73(e) 0.70(e) 4.89(e) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.53 10.79(f) 15,836 1.54(e) 1.00(e) 5.06(e) 124
Class B...................... 10.53 10.01(f) 4,705 2.31(e) 1.70(e) 4.31(e) --
Class C...................... 10.55 10.22(f) 5,050 2.17(e) 1.70(e) 4.28(e) --
THE HARTFORD INFLATION PLUS
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.30 (1.29)(f) 328,476 1.01(e) 0.95(e) 3.14(e) 86
Class B...................... 10.31 (1.66)(f) 104,740 1.82(e) 1.70(e) 2.34(e) --
Class C...................... 10.31 (1.57)(f) 297,596 1.77(e) 1.70(e) 2.36(e) --
Class Y...................... 10.32 (1.05)(f) 126,313 0.68(e) 0.68(e) 3.41(e) --
For the Year Ended October
31, 2005
Class A...................... 10.67 2.10 414,778 1.00 0.95 3.88 71
Class B...................... 10.68 1.33 119,302 1.81 1.70 3.09 --
Class C...................... 10.67 1.24 373,750 1.76 1.70 3.12 --
Class Y...................... 10.68 2.29 95,947 0.68 0.68 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(f) 23,045 0.65(e) 0.65(e) 1.55(e) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.63 9.02(f) 142,992 1.34(e) 1.00(e) 2.63(e) 23
Class B...................... 10.64 8.41(f) 67,986 2.09(e) 1.70(e) 1.98(e) --
Class C...................... 10.63 8.31(f) 160,253 1.95(e) 1.70(e) 1.97(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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
CAPITAL APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $12.14 $(0.03) $ 3.06 $(0.05) $(0.14) $ --
Class B...................... 11.77 (0.09) 2.98 -- (0.14) --
Class C...................... 11.77 (0.10) 2.99 -- (0.14) --
Class Y...................... 12.33 0.05 3.05 (0.10) (0.14) --
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(h)
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(h)
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) -- -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD INTERNATIONAL
CAPITAL APPRECIATION FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $14.98 25.26%(f) $189,067 1.70%(e) 1.60%(e) (0.25%)(e) 81%
Class B...................... 14.52 24.81(f) 30,838 2.57(e) 2.28(e) (0.95)(e) --
Class C...................... 14.52 24.81(f) 40,155 2.40(e) 2.35(e) (1.03)(e) --
Class Y...................... 15.19 25.55(f) 69,424 1.15(e) 1.15(e) 0.03(e) --
For the Year Ended October
31, 2005
Class A...................... 12.14 4.74 131,430 1.77 1.60 0.66 183
Class B...................... 11.77 3.98 22,304 2.66 2.35 (0.09) --
Class C...................... 11.77 3.98 29,486 2.49 2.35 (0.07) --
Class Y...................... 12.33 5.20 74,651 1.22 1.20 0.98 --
For the Year Ended October
31, 2004(h)
Class A...................... 11.59 21.14 50,051 1.91 1.65 (0.10) 200
Class B...................... 11.32 20.33 8,968 2.83 2.35 (0.80) --
Class C...................... 11.32 20.33 12,906 2.63 2.35 (0.79) --
Class Y...................... 11.72 21.61 28,775 1.31 1.20 (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(h)
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)(f) 2,579 2.64(e) 1.65(e) (0.09)(e) 135
Class B...................... 7.59 (24.10)(f) 327 3.35(e) 2.35(e) (0.79)(e) --
Class C...................... 7.59 (24.10)(f) 316 3.32(e) 2.35(e) (0.79)(e) --
Class Y...................... 7.63 (23.70)(f) 229 2.10(e) 1.20(e) 0.36(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
305
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $13.13 $ 0.05 $ 2.89 $(0.05) $ -- $ --
Class B...................... 12.35 -- 2.72 -- -- --
Class C...................... 12.27 (0.02) 2.71 -- -- --
Class Y...................... 13.55 0.11 2.95 (0.11) -- --
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(h)
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 OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD INTERNATIONAL
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $16.02 22.41%(f) $151,151 1.63%(e) 1.53%(e) 0.63%(e) 58%
Class B...................... 15.07 22.02(f) 29,883 2.59(e) 2.11(e) (0.01)(e) --
Class C...................... 14.96 21.92(f) 20,729 2.34(e) 2.34(e) (0.24)(e) --
Class Y...................... 16.50 22.73(f) 44,067 1.03(e) 1.03(e) 1.44(e) --
For the Year Ended October
31, 2005
Class A...................... 13.13 17.02 102,393 1.72 1.57 0.42 119
Class B...................... 12.35 16.07 23,940 2.68 2.35 (0.36) --
Class C...................... 12.27 16.08 16,896 2.42 2.35 (0.37) --
Class Y...................... 13.55 17.52 5,612 1.05 1.05 0.94 --
For the Year Ended October
31, 2004
Class A...................... 11.22 16.20 87,348 1.83 1.65 0.33 143
Class B...................... 10.64 15.40 23,301 2.77 2.35 (0.39) --
Class C...................... 10.57 15.39 15,749 2.48 2.35 (0.38) --
Class Y...................... 11.53 16.87 4,288 1.09 1.08 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 INTERNATIONAL
SMALL COMPANY FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $14.27 $ 0.04 $ 3.45 $(0.25) $(1.53) $ --
Class B...................... 13.91 (0.01) 3.36 (0.16) (1.53) --
Class C...................... 13.78 (0.02) 3.33 (0.15) (1.53) --
Class Y...................... 14.41 0.07 3.47 (0.30) (1.53) --
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(h)
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(h)
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) -- -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD INTERNATIONAL
SMALL COMPANY FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $15.98 27.68%(f) $ 61,686 1.75%(e) 1.57%(e) 0.57%(e) 67%
Class B...................... 15.57 27.29(f) 10,287 2.68(e) 2.24(e) (0.10)(e) --
Class C...................... 15.41 27.19(f) 16,834 2.43(e) 2.35(e) (0.30)(e) --
Class Y...................... 16.12 27.91(f) 86,433 1.20(e) 1.20(e) 0.93(e) --
For the Year Ended October
31, 2005
Class A...................... 14.27 18.90 34,896 1.82 1.60 0.71 112
Class B...................... 13.91 17.96 6,101 2.78 2.35 (0.02) --
Class C...................... 13.78 17.96 12,614 2.46 2.35 (0.06) --
Class Y...................... 14.41 19.40 65,828 1.28 1.20 1.13 --
For the Year Ended October
31, 2004
Class A...................... 13.44 11.39 23,934 1.99 1.65 0.90 119
Class B...................... 13.23 10.62 3,726 2.89 2.35 0.15 --
Class C...................... 13.12 10.63 10,072 2.60 2.35 0.27 --
Class Y...................... 13.54 11.80 42,449 1.41 1.20 1.26 --
For the Year Ended October
31, 2003(h)
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(h)
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)(f) 2,156 3.46(e) 1.65(e) 0.86(e) 128
Class B...................... 8.81 (11.90)(f) 275 4.12(e) 2.35(e) 0.16(e) --
Class C...................... 8.78 (12.20)(f) 425 4.12(e) 2.35(e) 0.16(e) --
Class Y...................... 8.84 (11.60)(f) 265 2.92(e) 1.20(e) 1.31(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
307
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $26.32 $(0.03) $ 4.10 $ -- $(4.42) $ --
Class B...................... 24.77 (0.12) 3.82 -- (4.42) --
Class C...................... 24.86 (0.11) 3.83 -- (4.42) --
Class Y...................... 27.42 0.03 4.29 -- (4.42) --
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(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD MIDCAP FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $25.97 17.83%(f) $1,927,854 1.26%(e) 1.26%(e) (0.24%)(e) 42%
Class B...................... 24.05 17.39(f) 504,170 2.02(e) 2.02(e) (1.00)(e) --
Class C...................... 24.16 17.41(f) 551,449 1.95(e) 1.95(e) (0.93)(e) --
Class Y...................... 27.32 18.07(f) 188,421 0.80(e) 0.80(e) 0.22(e) --
For the Year Ended October
31, 2005
Class A...................... 26.32 18.85 1,677,327 1.30 1.30 (0.20) 74
Class B...................... 24.77 17.92 464,175 2.08 2.08 (0.98) --
Class C...................... 24.86 18.07 499,502 1.99 1.99 (0.89) --
Class Y...................... 27.42 19.40 139,273 0.83 0.83 0.26 --
For the Year Ended October
31, 2004
Class A...................... 22.61 9.86 1,544,968 1.37 1.37 (0.41) 52
Class B...................... 21.47 9.10 438,658 2.11 2.11 (1.15) --
Class C...................... 21.52 9.18 484,268 2.02 2.02 (1.06) --
Class Y...................... 23.43 10.47 104,534 0.85 0.85 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 MIDCAP VALUE FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $13.29 $(0.02) $ 2.35 $ -- $(1.32) $ --
Class B...................... 12.85 (0.06) 2.25 -- (1.32) --
Class C...................... 12.85 (0.07) 2.27 -- (1.32) --
Class Y...................... 13.59 0.02 2.40 -- (1.32) --
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(h)
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(h)
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) -- -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD MIDCAP VALUE FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $14.30 19.12%(f) $316,589 1.46%(e) 1.40%(e) (0.25%)(e) 21%
Class B...................... 13.72 18.65(f) 65,949 2.29(e) 2.14(e) (0.99)(e) --
Class C...................... 13.73 18.72(f) 67,394 2.16(e) 2.15(e) (1.00)(e) --
Class Y...................... 14.69 19.38(f) 30,257 0.94(e) 0.94(e) 0.20(e) --
For the Year Ended October
31, 2005
Class A...................... 13.29 11.31 280,662 1.49 1.40 (0.31) 49
Class B...................... 12.85 10.40 59,350 2.33 2.15 (1.06) --
Class C...................... 12.85 10.40 61,194 2.19 2.15 (1.06) --
Class Y...................... 13.59 11.76 39,965 0.96 0.96 0.13 --
For the Year Ended October
31, 2004
Class A...................... 12.89 13.87 280,173 1.56 1.45 (0.03) 46
Class B...................... 12.59 13.22 60,558 2.36 2.15 (1.04) --
Class C...................... 12.59 13.12 67,132 2.20 2.15 (1.04) --
Class Y...................... 13.11 14.40 2,474 0.90 0.90 (0.12) --
For the Year Ended October
31, 2003(h)
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(h)
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)(f) 26,812 1.69(e) 1.40(e) (0.20)(e) 28
Class B...................... 8.46 (15.40)(f) 7,158 2.38(e) 2.10(e) (0.90)(e) --
Class C...................... 8.46 (15.40)(f) 8,975 2.37(e) 2.10(e) (0.90)(e) --
Class Y...................... 8.50 (15.00)(f) 255 1.11(e) 0.95(e) 0.25(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
309
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 MONEY MARKET FUND
For the Six-Month Period
Ended April 30, 2006
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, 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(h)
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 TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
OF PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD MONEY MARKET FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $ 1.00 1.76%(f) $180,140 1.14%(e) 0.95%(e) 3.52%(e) N/A
Class B...................... 1.00 1.38(f) 26,439 1.75(e) 1.70(e) 2.75(e) --
Class C...................... 1.00 1.38(f) 15,252 1.75(e) 1.70(e) 2.75(e) --
Class Y...................... 1.00 1.96(f) 18,124 0.61(e) 0.55(e) 3.93(e) --
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(i) 0.01 --
Class C...................... 1.00 0.00 29,955 1.89 1.36(i) 0.01 --
Class Y...................... 1.00 0.78 1,162 0.68 0.55 0.84 --
For the Year Ended October
31, 2002(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 RETIREMENT INCOME
FUND(G)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 9.87 $ 0.11 $(0.12) $(0.63) $ -- $ --
Class B...................... 9.87 0.09 (0.10) (0.59) -- --
Class C...................... 9.87 0.09 (0.10) (0.59) -- --
Class Y...................... 9.86 0.13 (0.12) (0.64) -- --
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
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.14 (0.04) 1.64 -- (0.10) --
Class B...................... 10.08 (0.07) 1.63 -- (0.10) --
Class C...................... 10.08 (0.06) 1.62 -- (0.10) --
Class Y...................... 10.17 (0.01) 1.63 -- (0.10) --
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
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.79 -- 1.40 (0.01) (0.24) --
Class B...................... 10.75 (0.06) 1.41 -- (0.24) --
Class C...................... 10.75 (0.06) 1.42 -- (0.24) --
Class Y...................... 10.81 0.08 1.34 (0.05) (0.24) --
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
For the Six-Month Period
Ended April 30, 2006
Class A...................... 9.58 (0.05) 1.68 -- -- --
Class B...................... 9.57 (0.06) 1.66 -- -- --
Class C...................... 9.57 (0.06) 1.66 -- -- --
Class Y...................... 9.58 (0.03) 1.69 -- -- --
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) -- -- --
<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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD RETIREMENT INCOME
FUND(G)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 9.46 2.32%(f) $ 299 38.01%(e) 0.53%(e) 2.65%(e) --%
Class B...................... 9.47 2.01(f) 159 29.55(e) 1.30(e) 2.45(e) --
Class C...................... 9.47 2.01(f) 130 30.14(e) 1.30(e) 2.48(e) --
Class Y...................... 9.47 2.67(f) 111 28.90(e) 0.22(e) 3.65(e) --
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.87 (1.22)(f) 47 0.63(e) 0.53(e) 4.08(e) 83
Class B...................... 9.87 (1.29)(f) 10 1.36(e) 1.26(e) 1.76(e) --
Class C...................... 9.87 (1.29)(f) 10 1.36(e) 1.26(e) 1.76(e) --
Class Y...................... 9.86 (1.30)(f) 10 0.28(e) 0.28(e) 2.75(e) --
THE HARTFORD SELECT MIDCAP
GROWTH FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 11.64 15.90(f) 23,058 1.89(e) 1.51(e) (0.89)(e) 43
Class B...................... 11.54 15.59(f) 3,885 3.02(e) 2.14(e) (1.51)(e) --
Class C...................... 11.54 15.59(f) 4,061 2.79(e) 2.25(e) (1.62)(e) --
Class Y...................... 11.69 16.05(f) 29,727 1.07(e) 1.07(e) (0.33)(e) --
From (commencement of
operations) January 1,
2005, through October 31,
2005
Class A...................... 10.14 0.80(f) 14,995 2.22(e) 1.50(e) (0.95)(e) 97
Class B...................... 10.08 0.20(f) 2,354 3.35(e) 2.25(e) (1.70)(e) --
Class C...................... 10.08 0.20(f) 1,741 3.26(e) 2.25(e) (1.70)(e) --
Class Y...................... 10.17 1.09(f) 210 1.66(e) 1.10(e) (0.55)(e) --
THE HARTFORD SELECT MIDCAP
VALUE FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 11.94 13.21(f) 39,419 1.65(e) 1.55(e) (0.06)(e) 35
Class B...................... 11.86 12.79(f) 3,429 2.63(e) 2.28(e) (0.79)(e) --
Class C...................... 11.87 12.89(f) 5,660 2.48(e) 2.30(e) (0.81)(e) --
Class Y...................... 11.94 13.42(f) 613 1.28(e) 1.15(e) 0.36(e) --
From (commencement of
operations) April 29, 2005,
through October 31, 2005
Class A...................... 10.79 7.90(f) 22,423 1.67(e) 1.55(e) (0.08)(e) 30
Class B...................... 10.75 7.50(f) 1,714 2.64(e) 2.30(e) (0.92)(e) --
Class C...................... 10.75 7.50(f) 2,885 2.53(e) 2.30(e) (0.96)(e) --
Class Y...................... 10.81 8.10(f) 541 1.36(e) 1.15(e) 0.37(e) --
THE HARTFORD SELECT SMALLCAP
GROWTH FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 11.21 17.01(f) 7,352 2.76(e) 1.65(e) (1.04)(e) 30
Class B...................... 11.17 16.72(f) 440 3.88(e) 2.40(e) (1.80)(e) --
Class C...................... 11.17 16.72(f) 618 3.81(e) 2.40(e) (1.79)(e) --
Class Y...................... 11.24 17.33(f) 225 2.46(e) 1.20(e) (0.59)(e) --
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.58 (4.20)(f) 5,217 1.65(e) 1.65(e) (0.76)(e) 4
Class B...................... 9.57 (4.30)(f) 199 2.40(e) 2.40(e) (1.51)(e) --
Class C...................... 9.57 (4.30)(f) 204 2.39(e) 2.39(e) (1.52)(e) --
Class Y...................... 9.58 (4.20)(f) 192 1.20(e) 1.20(e) (0.31)(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
311
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD SHORT DURATION
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $ 9.85 $ 0.17 $(0.02) $(0.17) $ -- $ --
Class B...................... 9.85 0.13 (0.02) (0.13) -- --
Class C...................... 9.85 0.13 (0.02) (0.13) -- --
Class Y...................... 9.84 0.18 (0.03) (0.18) -- --
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD SHORT DURATION
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $ 9.83 1.50%(f) $ 25,737 1.10%(e) 0.90%(e) 3.42%(e) 60%
Class B...................... 9.83 1.12(f) 7,427 1.93(e) 1.65(e) 2.68(e) --
Class C...................... 9.83 1.12(f) 16,626 1.83(e) 1.65(e) 2.67(e) --
Class Y...................... 9.81 1.52(f) 78,839 0.68(e) 0.65(e) 3.66(e) --
For the Year Ended October
31, 2005
Class A...................... 9.85 0.92 29,212 1.05 0.90 3.23 123
Class B...................... 9.85 0.17 8,814 1.89 1.65 2.47 --
Class C...................... 9.85 0.17 22,973 1.78 1.65 2.47 --
Class Y...................... 9.84 1.18 82,439 0.67 0.65 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(f) 31,429 0.61(e) 0.60(e) 3.03(e) --
From inception October 31,
2002, through October 31,
2003
Class A...................... 10.14 4.48(f) 32,753 1.34(e) 0.95(e) 3.14(e) 113
Class B...................... 10.14 3.77(f) 10,206 2.09(e) 1.65(e) 2.46(e) --
Class C...................... 10.14 3.77(f) 30,660 1.96(e) 1.65(e) 2.44(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 SMALL COMPANY
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $18.45 $(0.09) $ 4.75 $ -- $ -- $ --
Class B...................... 17.20 (0.16) 4.44 -- -- --
Class C...................... 17.22 (0.17) 4.44 -- -- --
Class Y...................... 19.33 (0.03) 4.98 -- -- --
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(h)
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 OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD SMALL COMPANY
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $23.11 25.26%(f) $192,248 1.49%(e) 1.40%(e) (0.88%)(e) 67%
Class B...................... 21.48 24.88(f) 62,739 2.32(e) 2.10(e) (1.58)(e) --
Class C...................... 21.49 24.80(f) 50,682 2.24(e) 2.15(e) (1.63)(e) --
Class Y...................... 24.28 25.61(f) 92,707 1.01(e) 0.96(e) (0.37)(e) --
For the Year Ended October
31, 2005
Class A...................... 18.45 22.27 159,577 1.57 1.40 (0.88) 104
Class B...................... 17.20 21.38 56,664 2.39 2.15 (1.63) --
Class C...................... 17.22 21.35 44,564 2.30 2.15 (1.63) --
Class Y...................... 19.33 22.81 43,274 0.97 0.97 (0.43) --
For the Year Ended October
31, 2004
Class A...................... 15.09 5.67 156,278 1.62 1.45 (1.15) 142
Class B...................... 14.17 4.88 58,438 2.40 2.15 (1.85) --
Class C...................... 14.19 4.96 49,327 2.30 2.15 (1.85) --
Class Y...................... 15.74 6.14 15,731 0.99 0.99 (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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
313
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 SMALLCAP GROWTH
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $28.30 $(0.03) $ 4.01 $ -- $ -- $ --
Class B...................... 25.57 (0.13) 3.64 -- -- --
Class C...................... 25.56 (0.13) 3.62 -- -- --
Class H...................... 25.69 (0.13) 3.68 -- -- --
Class L...................... 28.36 (0.02) 4.05 -- -- --
Class M...................... 25.66 (0.12) 3.66 -- -- --
Class N...................... 25.69 (0.12) 3.66 -- -- --
Class Y...................... 28.74 0.01 4.12 -- -- --
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD SMALLCAP GROWTH
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $32.28 14.06(f) $165,311 1.57%(e) 1.31%(e) (0.31%)(e) 32%
Class B...................... 29.08 13.73(f) 20,916 2.37(e) 2.02(e) (0.99)(e) --
Class C...................... 29.05 13.65(f) 24,376 2.23(e) 2.15(e) (1.12)(e) --
Class H...................... 29.24 13.82(f) 15,811 1.89(e) 1.89(e) (0.85)(e) --
Class L...................... 32.39 14.21(f) 129,063 1.14(e) 1.14(e) (0.10)(e) --
Class M...................... 29.20 13.80(f) 16,081 1.89(e) 1.89(e) (0.85)(e) --
Class N...................... 29.23 13.78(f) 6,380 1.89(e) 1.89(e) (0.85)(e) --
Class Y...................... 32.87 14.37(f) 113,273 0.91(e) 0.91(e) 0.12(e) --
For the Year Ended October
31, 2005
Class A...................... 28.30 15.04 66,403 1.62 1.40 (0.65) 81
Class B...................... 25.57 14.20 16,230 2.51 2.15 (1.40) --
Class C...................... 25.56 14.16 15,668 2.33 2.15 (1.40) --
Class H...................... 25.69 14.38 15,245 1.96 1.96 (1.21) --
Class L...................... 28.36 15.28 119,114 1.21 1.21 (0.46) --
Class M...................... 25.66 14.35 15,461 1.96 1.96 (1.21) --
Class N...................... 25.69 14.38 5,969 1.96 1.96 (1.21) --
Class Y...................... 28.74 15.52 55,933 0.98 0.98 (0.23) --
For the Year Ended October
31, 2004
Class A...................... 24.60 7.38 42,962 1.77 1.45 (0.81) 102
Class B...................... 22.39 6.67 11,930 2.59 2.15 (1.51) --
Class C...................... 22.39 6.67 10,140 2.38 2.15 (1.51) --
Class H...................... 22.46 6.85 17,328 1.98 1.98 (1.34) --
Class L...................... 24.60 7.42 114,266 1.43 1.43 (0.79) --
Class M...................... 22.44 6.86 16,154 1.98 1.98 (1.34) --
Class N...................... 22.46 6.85 6,115 1.98 1.98 (1.34) --
Class Y...................... 24.88 7.89 5,788 1.03 1.03 (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)(f) 3,457 1.82(e) 1.45(e) (0.93)(e) 93
Class B...................... 14.36 (23.31)(f) 1,756 2.52(e) 2.15(e) (1.60)(e) --
Class C...................... 14.35 (23.37)(f) 1,432 2.38(e) 2.15(e) (1.60)(e) --
Class Y...................... 15.61 (22.77)(f) 1 1.06(e) 1.00(e) (0.60)(e) --
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)(f) 23,059 2.05(e) 2.05(e) (1.57)(e) 17
Class L...................... 19.04 (10.36)(f) 121,440 1.50(e) 1.50(e) (1.02)(e) --
Class M...................... 17.70 (10.43)(f) 18,115 2.05(e) 2.05(e) (1.57)(e) --
Class N...................... 17.71 (10.42)(f) 6,495 2.05(e) 2.05(e) (1.57)(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to 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 STOCK FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $18.39 $ 0.06 $ 1.93 $(0.04) $ -- $ --
Class B...................... 17.23 (0.02) 1.80 -- -- --
Class C...................... 17.35 (0.01) 1.81 -- -- --
Class Y...................... 19.18 0.11 2.01 (0.14) -- --
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(h)
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)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... 9.82 0.09 0.98 (0.78) -- --
Class B...................... 9.82 0.05 0.42 (0.69) -- --
Class C...................... 9.82 0.06 0.42 (0.69) -- --
Class Y...................... 9.83 0.10 0.42 (0.82) -- --
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD STOCK FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $20.34 10.83(f) $ 728,805 1.40%(e) 1.25%(e) 0.62%(e) 62%
Class B...................... 19.01 10.33(f) 261,935 2.21(e) 2.08(e) (0.21)(e) --
Class C...................... 19.15 10.37(f) 176,987 2.07(e) 2.02(e) (0.15)(e) --
Class Y...................... 21.16 11.06(f) 126,663 0.81(e) 0.76(e) 1.12(e) --
For the Year Ended October
31, 2005
Class A...................... 18.39 10.36 727,492 1.42 1.33 0.89 62
Class B...................... 17.23 9.33 278,445 2.23 2.23 (0.02) --
Class C...................... 17.35 9.53 182,587 2.09 2.09 0.17 --
Class Y...................... 19.18 10.91 107,578 0.83 0.83 1.24 --
For the Year Ended October
31, 2004
Class A...................... 16.76 3.39 952,606 1.42 1.42 0.18 29
Class B...................... 15.76 2.67 343,148 2.18 2.18 (0.59) --
Class C...................... 15.84 2.79 256,271 2.03 2.03 (0.44) --
Class Y...................... 17.49 4.04 80,932 0.80 0.80 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(h)
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)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... 10.11 5.41(f) 1,194 14.49(e) 0.53(e) 2.37(e) 19
Class B...................... 9.60 4.92(f) 145 24.18(e) 1.28(e) 1.34(e) --
Class C...................... 9.60 4.95(f) 132 21.91(e) 1.28(e) 1.50(e) --
Class Y...................... 9.53 5.53(f) 132 20.67(e) 0.21(e) 2.56(e) --
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.82 (1.80)(f) 11 0.65(e) 0.49(e) 2.53(e) 12
Class B...................... 9.82 (1.80)(f) 10 1.41(e) 1.26(e) 1.61(e) --
Class C...................... 9.82 (1.80)(f) 10 1.41(e) 1.27(e) 1.60(e) --
Class Y...................... 9.83 (1.70)(f) 10 0.32(e) 0.21(e) 2.65(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
315
THE HARTFORD MUTUAL FUNDS, INC. AND THE 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 TARGET RETIREMENT
2020 FUND(G)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 9.79 $ 0.14 $ 0.67 $(0.31) $ -- $ --
Class B...................... 9.78 0.09 0.69 (0.23) -- --
Class C...................... 9.78 0.17 0.61 (0.23) -- --
Class Y...................... 9.79 0.22 0.60 (0.35) -- --
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)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... 9.75 0.02 0.75 (1.29) -- --
Class B...................... 9.74 0.01 0.74 (1.22) -- --
Class C...................... 9.74 0.03 0.72 (1.22) -- --
Class Y...................... 9.75 0.08 0.72 (1.33) -- --
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 Six-Month Period
Ended April 30, 2006
Class A...................... 10.32 0.19 (0.02) (0.19) (0.01) --
Class B...................... 10.31 0.15 (0.02) (0.15) (0.01) --
Class C...................... 10.33 0.15 (0.02) (0.15) (0.01) --
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD TARGET RETIREMENT
2020 FUND(G)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $10.29 8.42(f) $ 574 14.45%(e) 0.51%(e) 2.75%(e) 39%
Class B...................... 10.33 8.06(f) 33 15.38(e) 1.27(e) 1.79(e) --
Class C...................... 10.33 8.05(f) 26 16.10(e) 1.27(e) 3.32(e) --
Class Y...................... 10.26 8.52(f) 11 14.02(e) 0.21(e) 4.48(e) --
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.79 (2.10)(f) 144 0.66(e) 0.51(e) 2.77(e) 28
Class B...................... 9.78 (2.20)(f) 10 1.37(e) 1.25(e) 0.86(e) --
Class C...................... 9.78 (2.20)(f) 10 1.37(e) 1.26(e) 0.85(e) --
Class Y...................... 9.79 (2.10)(f) 10 0.29(e) 0.20(e) 1.91(e) --
THE HARTFORD TARGET RETIREMENT
2030 FUND(G)
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... 9.23 8.48(f) 163 33.10(e) 0.49(e) 0.44(e) 56
Class B...................... 9.27 8.17(f) 78 37.59(e) 1.25(e) 0.34(e) --
Class C...................... 9.27 8.18(f) 49 37.39(e) 1.25(e) 0.58(e) --
Class Y...................... 9.22 8.75(f) 31 37.25(e) 0.19(e) 1.78(e) --
From (commencement of
operations) September 30,
2005, through October 31,
2005
Class A...................... 9.75 (2.50)(f) 10 0.69(e) 0.48(e) 0.76(e) 14
Class B...................... 9.74 (2.60)(f) 10 1.39(e) 1.24(e) --(e) --
Class C...................... 9.74 (2.60)(f) 9 1.39(e) 1.24(e) --(e) --
Class Y...................... 9.75 (2.50)(f) 10 0.34(e) 0.19(e) 1.05(e) --
THE HARTFORD TAX-FREE
CALIFORNIA FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.29 1.59(f) 18,396 0.98(e) 0.90(e) 3.65(e) 2
Class B...................... 10.28 1.21(f) 1,577 1.76(e) 1.65(e) 2.90(e) --
Class C...................... 10.30 1.21(f) 2,086 1.77(e) 1.65(e) 2.90(e) --
For the Year Ended October
31, 2005
Class A...................... 10.32 3.69 15,601 1.02 0.90 3.64 31
Class B...................... 10.31 2.92 1,305 1.80 1.65 2.90 --
Class C...................... 10.33 2.91 1,937 1.80 1.65 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(f) 10,799 1.57(e) 0.95(e) 3.73(e) 64
Class B...................... 9.92 2.23(f) 1,827 2.32(e) 1.65(e) 3.07(e) --
Class C...................... 9.93 2.34(f) 1,230 2.18(e) 1.65(e) 3.02(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
316
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE TAX-FREE MINNESOTA FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.22 $ 0.20 $(0.06) $(0.20) $(0.02) $--
Class B...................... 10.23 0.16 (0.06) (0.16) (0.02) --
Class C...................... 10.25 0.16 (0.06) (0.16) (0.02) --
Class E...................... 10.28 0.20 (0.06) (0.20) (0.02) --
Class H...................... 10.28 0.16 (0.06) (0.16) (0.02) --
Class L...................... 10.25 0.20 (0.06) (0.20) (0.02) --
Class M...................... 10.27 0.16 (0.06) (0.16) (0.02) --
Class N...................... 10.27 0.16 (0.06) (0.16) (0.02) --
Class Y...................... 10.22 0.20 (0.06) (0.20) (0.02) --
For the Year Ended October
31, 2005(h)
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(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE TAX-FREE MINNESOTA FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.14 1.34%(f) $ 6,167 1.24%(e) 0.85%(e) 3.93%(e) 3%
Class B...................... 10.15 0.96(f) 780 1.99(e) 1.60(e) 3.18(e) --
Class C...................... 10.17 0.96(f) 390 1.97(e) 1.60(e) 3.18(e) --
Class E...................... 10.20 1.34(f) 24,596 0.86(e) 0.86(e) 3.92(e) --
Class H...................... 10.20 0.96(f) 117 1.86(e) 1.60(e) 3.18(e) --
Class L...................... 10.17 1.31(f) 2,768 1.11(e) 0.90(e) 3.88(e) --
Class M...................... 10.19 0.96(f) 124 1.86(e) 1.60(e) 3.18(e) --
Class N...................... 10.19 0.96(f) 189 1.86(e) 1.60(e) 3.18(e) --
Class Y...................... 10.14 1.34(f) 10 0.87(e) 0.87(e) 3.91(e) --
For the Year Ended October
31, 2005(h)
Class A...................... 10.22 1.66 5,547 1.26 0.85 3.76 10
Class B...................... 10.23 0.91 814 2.02 1.60 3.01 --
Class C...................... 10.25 1.01 418 2.03 1.60 3.02 --
Class E...................... 10.28 1.68 25,770 0.87 0.87 3.72 --
Class H...................... 10.28 1.00 116 1.87 1.60 3.00 --
Class L...................... 10.25 1.62 2,890 1.12 0.90 3.70 --
Class M...................... 10.27 1.00 127 1.87 1.60 2.99 --
Class N...................... 10.27 0.91 197 1.87 1.60 3.00 --
Class Y...................... 10.22 1.66 10 0.90 0.90 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(h)
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(f) 2,073 1.37(e) 1.15(e) 3.57(e) 36
Class B...................... 10.47 3.93(f) 238 2.09(e) 1.85(e) 2.73(e) --
Class C...................... 10.48 4.03(f) 304 1.92(e) 1.85(e) 2.79(e) --
Class Y...................... 10.49 4.92(f) 1 0.65(e) 0.65(e) 3.83(e) --
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(f) 32,533 0.84(e) 0.84(e) 4.28(e) --
Class H...................... 10.44 1.25(f) 1,094 1.84(e) 1.84(e) 3.28(e) --
Class L...................... 10.42 1.41(f) 3,543 1.09(e) 1.09(e) 4.03(e) --
Class M...................... 10.42 1.35(f) 772 1.84(e) 1.84(e) 3.28(e) --
Class N...................... 10.44 1.25(f) 203 1.84(e) 1.84(e) 3.28(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
317
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD TAX-FREE NATIONAL
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.13 $0.22 $(0.01) $(0.22) $(0.08) $ --
Class B...................... 11.06 0.18 (0.01) (0.18) (0.08) --
Class C...................... 11.09 0.18 (0.01) (0.18) (0.08) --
Class E...................... 11.12 0.23 (0.01) (0.23) (0.08) --
Class H...................... 11.09 0.18 (0.01) (0.18) (0.08) --
Class L...................... 11.10 0.22 -- (0.22) (0.08) --
Class M...................... 11.09 0.18 (0.01) (0.18) (0.08) --
Class N...................... 11.07 0.18 (0.01) (0.18) (0.08) --
Class Y...................... 11.11 0.23 (0.01) (0.23) (0.08) --
For the Year Ended October
31, 2005(h)
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD TAX-FREE NATIONAL
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $11.04 1.90%(f) $58,272 1.23%(e) 1.00%(e) 4.05%(e) 4%
Class B...................... 10.97 1.53(f) 6,700 2.01(e) 1.75(e) 3.29(e) --
Class C...................... 11.00 1.53(f) 10,540 1.97(e) 1.75(e) 3.30(e) --
Class E...................... 11.03 1.96(f) 29,291 0.89(e) 0.89(e) 4.15(e) --
Class H...................... 11.00 1.53(f) 229 1.88(e) 1.75(e) 3.29(e) --
Class L...................... 11.02 1.97(f) 8,005 1.14(e) 1.05(e) 3.99(e) --
Class M...................... 11.00 1.53(f) 1,225 1.89(e) 1.75(e) 3.29(e) --
Class N...................... 10.98 1.53(f) 463 1.89(e) 1.75(e) 3.29(e) --
Class Y...................... 11.02 1.95(f) 10 0.89(e) 0.89(e) 4.16(e) --
For the Year Ended October
31, 2005(h)
Class A...................... 11.13 3.10 46,163 1.26 1.00 3.88 22
Class B...................... 11.06 2.36 6,889 2.03 1.75 3.13 --
Class C...................... 11.09 2.35 8,496 1.99 1.75 3.13 --
Class E...................... 11.12 3.20 30,993 0.91 0.91 3.97 --
Class H...................... 11.09 2.35 290 1.91 1.75 3.14 --
Class L...................... 11.10 3.06 7,958 1.16 1.05 3.83 --
Class M...................... 11.09 2.35 1,294 1.91 1.75 3.13 --
Class N...................... 11.07 2.36 495 1.91 1.75 3.13 --
Class Y...................... 11.11 3.20 10 0.95 0.95 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(f) 12,192 1.63(e) 1.15(e) 3.31(e) 47
Class B...................... 11.21 4.18(f) 3,764 2.33(e) 1.85(e) 2.54(e) --
Class C...................... 11.23 4.37(f) 3,121 2.18(e) 1.85(e) 2.57(e) --
Class Y...................... 11.28 5.52(f) 1 0.63(e) 0.63(e) 4.15(e) --
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(f) 42,441 0.95(e) 0.95(e) 4.21(e) --
Class H...................... 11.15 1.36(f) 4,679 1.95(e) 1.95(e) 3.21(e) --
Class L...................... 11.16 1.33(f) 8,029 1.20(e) 1.20(e) 3.96(e) --
Class M...................... 11.15 1.27(f) 1,723 1.95(e) 1.95(e) 3.21(e) --
Class N...................... 11.13 1.27(f) 538 1.95(e) 1.95(e) 3.21(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
318
- --------------------------------------------------------------------------------
<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 Six-Month Period
Ended April 30, 2006
Class A...................... $10.32 $0.19 $(0.03) $(0.19) $(0.02) $ --
Class B...................... 10.32 0.15 (0.02) (0.16) (0.02) --
Class C...................... 10.32 0.15 (0.02) (0.16) (0.02) --
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 Six-Month Period
Ended April 30, 2006
Class A...................... 10.62 0.20 (0.15) (0.21) (0.06) --
Class B...................... 10.57 0.16 (0.15) (0.17) (0.06) --
Class C...................... 10.64 0.16 (0.16) (0.17) (0.06) --
Class Y...................... 10.73 0.22 (0.15) (0.23) (0.06) --
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(h)
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 OF TOTAL PERIOD WAIVERS AND WAIVERS AND TO AVERAGE TURNOVER
PERIOD RETURN(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD TAX-FREE NEW YORK
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.27 1.61%(f) $ 11,033 0.99%(e) 0.85%(e) 3.70%(e) 9%
Class B...................... 10.27 1.23(f) 1,715 1.76(e) 1.60(e) 2.95(e) --
Class C...................... 10.27 1.23(f) 2,671 1.75(e) 1.60(e) 2.95(e) --
For the Year Ended October
31, 2005
Class A...................... 10.32 2.66 11,202 1.03 0.85 3.45 23
Class B...................... 10.32 1.90 1,794 1.80 1.60 2.70 --
Class C...................... 10.32 1.90 2,677 1.79 1.60 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(f) 8,602 1.63(e) 0.95(e) 3.34(e) 54
Class B...................... 10.15 4.30(f) 1,051 2.38(e) 1.65(e) 2.64(e) --
Class C...................... 10.15 4.30(f) 1,393 2.26(e) 1.65(e) 2.67(e) --
THE HARTFORD TOTAL RETURN BOND
FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... 10.40 0.43(f) 359,712 1.21(e) 1.20(e) 3.82(e) 160
Class B...................... 10.35 0.05(f) 77,012 2.01(e) 1.95(e) 3.07(e) --
Class C...................... 10.41 --(f) 71,869 1.87(e) 1.87(e) 3.15(e) --
Class Y...................... 10.51 0.67(f) 264,434 0.71(e) 0.71(e) 4.33(e) --
For the Year Ended October
31, 2005
Class A...................... 10.62 1.00 311,557 1.24 1.20 3.24 195
Class B...................... 10.57 0.25 81,028 2.00 1.95 2.49 --
Class C...................... 10.64 0.34 74,039 1.87 1.87 2.56 --
Class Y...................... 10.73 1.45 188,156 0.73 0.73 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(h)
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
(i) Payment from affiliate was due to a change in transfer agent fee allocation
methodology. Without the inclusion of the Payment from Affiliate, 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.
319
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 9.32 $ 0.21 $(0.21) $(0.21) $ -- $ --
Class B...................... 9.27 0.17 (0.19) (0.18) -- --
Class C...................... 9.27 0.17 (0.19) (0.18) -- --
Class E...................... 9.30 0.22 (0.20) (0.23) -- --
Class H...................... 9.26 0.17 (0.19) (0.18) -- --
Class L...................... 9.31 0.21 (0.20) (0.22) -- --
Class M...................... 9.27 0.17 (0.20) (0.18) -- --
Class N...................... 9.26 0.17 (0.20) (0.18) -- --
Class Y...................... 9.32 0.22 (0.16) (0.23) -- --
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD U.S. GOVERNMENT
SECURITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $ 9.11 0.01%(f) $ 44,469 1.40%(e) 1.15%(e) 4.50%(e) 62%
Class B...................... 9.07 (0.26)(f) 18,129 2.21(e) 1.90(e) 3.75(e) --
Class C...................... 9.07 (0.26)(f) 8,399 2.09(e) 1.90(e) 3.75(e) --
Class E...................... 9.09 0.17(f) 95,338 0.84(e) 0.84(e) 4.81(e) --
Class H...................... 9.06 (0.22)(f) 2,276 1.84(e) 1.84(e) 3.82(e) --
Class L...................... 9.10 0.05(f) 32,135 1.09(e) 1.09(e) 4.56(e) --
Class M...................... 9.06 (0.33)(f) 2,408 1.84(e) 1.84(e) 3.81(e) --
Class N...................... 9.05 (0.33)(f) 744 1.84(e) 1.84(e) 3.81(e) --
Class Y...................... 9.15 0.59(f) 1 0.84(e) 0.84(e) 4.85(e) --
For the Year Ended October
31, 2005
Class A...................... 9.32 0.79 47,252 1.38 1.15 4.17 108
Class B...................... 9.27 (0.17) 21,268 2.17 1.90 3.41 --
Class C...................... 9.27 (0.07) 9,631 2.05 1.90 3.41 --
Class E...................... 9.30 1.02 105,381 0.83 0.83 4.49 --
Class H...................... 9.26 (0.07) 2,720 1.82 1.82 3.48 --
Class L...................... 9.31 0.77 34,880 1.08 1.08 4.24 --
Class M...................... 9.27 0.04 2,756 1.82 1.82 3.48 --
Class N...................... 9.26 0.04 844 1.82 1.82 3.49 --
Class Y...................... 9.32 1.04 9,244 0.86 0.86 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(f) 75,245 1.59(e) 1.20(e) 3.58(e) 218
Class B...................... 9.84 6.36(f) 39,276 2.28(e) 1.90(e) 2.87(e) --
Class C...................... 9.84 6.36(f) 40,708 2.11(e) 1.90(e) 2.86(e) --
Class Y...................... 9.89 7.32(f) 1 0.74(e) 0.74(e) 4.36(e) --
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(f) 187,712 0.79(e) 0.79(e) 5.25(e) 32
Class H...................... 9.64 4.31(f) 10,770 1.79(e) 1.79(e) 4.25(e) --
Class L...................... 9.67 4.50(f) 52,579 1.04(e) 1.04(e) 5.01(e) --
Class M...................... 9.64 4.32(f) 6,582 1.79(e) 1.79(e) 4.25(e) --
Class N...................... 9.64 4.31(f) 2,275 1.79(e) 1.79(e) 4.25(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
320
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD VALUE FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $10.79 $ 0.04 $ 1.32 $(0.08) $ -- $ --
Class B...................... 10.62 0.01 1.29 -- -- --
Class C...................... 10.62 0.01 1.29 -- -- --
Class Y...................... 10.79 0.11 1.27 (0.13) -- --
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(h)
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(h)
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(h)
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 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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
--------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD VALUE FUND
For the Six-Month Period
Ended April 30, 2006
Class A...................... $12.07 12.67%(f) $71,970 1.39%(e) 1.39%(e) 1.03%(e) 20%
Class B...................... 11.92 12.24(f) 11,112 2.30(e) 2.10(e) 0.32(e) --
Class C...................... 11.92 12.24(f) 11,344 2.17(e) 2.15(e) 0.27(e) --
Class Y...................... 12.04 12.91(f) 48,235 0.91(e) 0.91(e) 1.53(e) --
For the Year Ended October
31, 2005
Class A...................... 10.79 11.50 63,417 1.41 1.40 0.76 29
Class B...................... 10.62 10.62 10,091 2.34 2.15 0.01 --
Class C...................... 10.62 10.62 10,238 2.19 2.15 0.02 --
Class Y...................... 10.79 12.06 60,218 0.93 0.93 1.19 --
For the Year Ended October
31, 2004(h)
Class A...................... 9.71 9.70 56,845 1.46 1.45 0.76 34
Class B...................... 9.60 8.91 8,948 2.36 2.15 0.06 --
Class C...................... 9.60 8.91 10,838 2.17 2.15 0.06 --
Class Y...................... 9.71 9.76 21,373 0.91 0.91 1.32 --
For the Year Ended October
31, 2003(h)
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(h)
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)(f) 13,728 1.66(e) 1.45(e) 0.53(e) 12
Class B...................... 8.99 (10.10)(f) 2,029 2.36(e) 2.15(e) (0.17)(e) --
Class C...................... 8.99 (10.10)(f) 4,769 2.34(e) 2.15(e) (0.17)(e) --
Class Y...................... 9.04 (9.60)(f) 271 1.09(e) 1.00(e) 0.98(e) --
</Table>
- ---------------
(a) Information presented relates to a share of capital share outstanding
throughout the indicated period.
(b) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
321
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
FINANCIAL HIGHLIGHTS -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
-- SELECTED PER-SHARE DATA(A) --
----------------------------------------------------------------------------------
NET REALIZED
AND DISTRIBUTIONS
NET ASSET NET UNREALIZED DIVIDENDS FROM
VALUE AT INVESTMENT GAIN FROM NET REALIZED DISTRIBUTIONS
BEGINNING INCOME (LOSS) ON INVESTMENT CAPITAL FROM
OF PERIOD (LOSS) INVESTMENTS INCOME GAINS CAPITAL
--------- ---------- ------------ ---------- ------------- -------------
THE HARTFORD VALUE
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $15.56 $ 0.02 $ 2.52 $ -- $(0.50) $ --
Class B...................... 14.56 (0.03) 2.34 -- (0.50) --
Class C...................... 14.56 (0.04) 2.35 -- (0.50) --
Class H...................... 14.58 (0.02) 2.35 -- (0.50) --
Class L...................... 15.58 0.04 2.52 (0.02) (0.50) --
Class M...................... 14.57 (0.02) 2.34 -- (0.50) --
Class N...................... 14.58 (0.02) 2.35 -- (0.50) --
Class Y...................... 15.74 0.06 2.54 (0.06) (0.50) --
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
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(B) (000'S) REIMBURSEMENTS(D) REIMBURSEMENTS(D) NET ASSETS RATE(C)
---------- --------- ---------- ----------------- ----------------- ---------- ---------
THE HARTFORD VALUE
OPPORTUNITIES FUND
For the Six-Month Period
Ended April 30, 2006(h)
Class A...................... $17.60 16.74%(f) $93,158 1.53%(e) 1.40%(e) 0.28%(e) 31%
Class B...................... 16.37 16.30(f) 17,581 2.39(e) 2.10(e) (0.41)(e) --
Class C...................... 16.37 16.30(f) 17,205 2.21(e) 2.15(e) (0.47)(e) --
Class H...................... 16.41 16.41(f) 4,346 1.96(e) 1.96(e) (0.27)(e) --
Class L...................... 17.62 16.87(f) 32,423 1.22(e) 1.22(e) 0.48(e) --
Class M...................... 16.39 16.35(f) 7,608 1.97(e) 1.97(e) (0.27)(e) --
Class N...................... 16.41 16.41(f) 2,275 1.97(e) 1.97(e) (0.28)(e) --
Class Y...................... 17.78 16.94(f) 97,750 0.99(e) 0.99(e) 0.69(e) --
For the Year Ended October
31, 2005
Class A...................... 15.56 10.67 66,368 1.62 1.40 0.27 38
Class B...................... 14.56 9.97 13,560 2.51 2.15 (0.47) --
Class C...................... 14.56 9.89 13,258 2.33 2.15 (0.47) --
Class H...................... 14.58 10.04 4,645 2.06 2.06 (0.27) --
Class L...................... 15.58 10.81 27,674 1.30 1.30 0.45 --
Class M...................... 14.57 10.05 7,443 2.06 2.06 (0.28) --
Class N...................... 14.58 9.96 2,004 2.06 2.06 (0.29) --
Class Y...................... 15.74 11.08 95,974 1.07 1.07 0.55 --
For the Year Ended October
31, 2004
Class A...................... 14.06 15.72 24,601 1.82 1.45 0.08 52
Class B...................... 13.24 14.83 5,709 2.70 2.15 (0.64) --
Class C...................... 13.25 14.92 5,627 2.47 2.15 (0.64) --
Class H...................... 13.25 14.82 5,815 2.17 2.15 (0.71) --
Class L...................... 14.06 15.72 25,687 1.42 1.42 0.04 --
Class M...................... 13.24 14.83 8,139 2.17 2.15 (0.70) --
Class N...................... 13.26 14.90 2,143 2.17 2.15 (0.70) --
Class Y...................... 14.17 15.96 10,101 1.16 1.16 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)(f) 2,600 1.92(e) 1.45(e) 0.04(e) 70
Class B...................... 8.84 (21.45)(f) 481 2.61(e) 2.15(e) (0.71)(e) --
Class C...................... 8.85 (21.41)(f) 430 2.48(e) 2.15(e) (0.75)(e) --
Class Y...................... 9.30 (20.75)(f) 1 1.13(e) 1.00(e) 0.49(e) --
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)(f) 7,914 2.18(e) 2.18(e) (0.89)(e) 12
Class L...................... 11.99 (9.85)(f) 27,982 1.43(e) 1.43(e) (0.14)(e) --
Class M...................... 11.57 (9.96)(f) 8,700 2.18(e) 2.18(e) (0.89)(e) --
Class N...................... 11.57 (10.03)(f) 2,636 2.18(e) 2.18(e) (0.89)(e) --
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) Assumes initial investment at net asset value at the beginning of each
period, reinvestment of all distributions, the complete redemption of the
investment at net asset value at the end of each period and no sales charge.
Total return would be reduced if sales charges were taken into account.
(c) Portfolio turnover rate is calculated on the basis of the Fund as a whole
without distinguishing between the classes of shares issued.
(d) Ratios do not include fees paid indirectly.
(e) Annualized.
(f) Not annualized.
(g) Expense ratios do not include expenses of the underlying funds.
(h) Per share amounts have been calculated using average shares outstanding
method.
See Notes to Financial Statements.
322
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
DIRECTORS AND OFFICERS (UNAUDITED)
- --------------------------------------------------------------------------------
The Boards of Directors elect officers who are responsible for the day-to-day
operations of the Funds 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 to 2002, Mr. Birdsong was a managing director of Zurich Scudder
Investments, an investment management firm. During his employment with
Scudder, Mr. Birdsong was an interested Director of The Japan Fund.
ROBERT M. GAVIN, JR. (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 65) Director(1) 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 to 2003).
(1) 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. 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
Since 1998, Dr. Senbet has been Chair of the Finance Department at the
University of Maryland, Robert H. Smith School of Business, where he has
been the William E. Mayer Chair Professor of Finance since 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.
323
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, 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 HIFSCO and HL Investment Advisors, LLC ("HL Advisors").
LOWNDES A. SMITH (age 66) Director since 1996 (MF) and 2002 (MF2), 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 Ltd. since November 2003.
DAVID M. ZNAMIEROWSKI (age 45) Director since 1999 (MF) and 2005 (MF2),
President since 1999(2)
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.
(2) Mr. Znamierowski has served as President of The Hartford Mutual Funds,
Inc. from 1999 to date, as President of The Hartford Mutual Funds II,
Inc. from 2001 to date, and as Chief Executive Officer of the Companies
from 2005 to date, with the exception of February 1, 2005 to March 27,
2005, when Mr. Walters served in those capacities.
OTHER OFFICERS
ROBERT M. ARENA (age 37) Vice President since 2006(3)
Mr. Arena is Vice President of Hartford Life and heads its Retail Product
Management Group in the Investment Products Division. Prior to joining The
Hartford in 2004, he was Senior Vice President in charge of Product
Management for American Skandia/Prudential in the individual annuities
division. Mr. Arena had joined American Skandia in 1996.
(3) Appointed February 1, 2006
TAMARA L. FAGELY (age 48) Vice President, Controller and Treasurer since 2002
(MF) and 1993 (MF2)
Ms. Fagely has been Vice President of HASCO since 1998 and Chief Financial
Officer of HASCO since 2006. Ms. Fagely has been Controller of HIFSCO since
April 2002. 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.
THOMAS D. JONES III (age 41) Vice President and Chief Compliance Officer since
2006(4)
Mr. Jones joined the Hartford Life as Vice President and Director of
Securities Compliance in 2006 from SEI Investments ("SEI"), where he served
as Chief Compliance Officer for its mutual funds and investment advisers.
Prior to joining SEI Mr. Jones was First Vice President and Compliance
Director for Merrill Lynch Investment Managers (Americas) where he worked
from 1992-2004.
(4) Appointed February 13, 2006
GEORGE R. JAY (age 54) 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.
(**) Resigned as Chief Compliance Officer February 13, 2006
EDWARD P. MACDONALD (age 39) 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.
VERNON J. MEYER (age 41) Vice President since 2006(5)
Mr. Meyer serves as Vice President of Hartford Life and Director of its
Investment Advisory Group in the Investment Products Division. Prior to
joining The Hartford in 2004, Mr. Meyer served as Vice President and
managing director of MassMutual, which he joined in 1987.
(5) Appointed February 13, 2006
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 44) Vice President since 2000 (MF) and 2001 (MF2)
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.
324
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
DIRECTORS AND OFFICERS -- (UNAUDITED) (CONTINUED)
- --------------------------------------------------------------------------------
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.
325
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE
- --------------------------------------------------------------------------------
YOUR FUND'S EXPENSES
As a shareholder of the Fund, you incur two types of costs: (1) transaction
costs, including sales charges (loads) on purchase payments and contingent
deferred sales charges (CDSC) (2) ongoing costs including management fees;
distribution fees; and other fund expenses. This example is intended to help you
understand your ongoing costs (in dollars) of investing in the Fund and to
compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the
period and held for the period of October 31, 2005 through April 30, 2006.
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 181/365 (to reflect the one-half
year period).
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD ADVISERS
FUND
Class A............ $1,000.00 $1,069.80 $ 5.70
Class B............ $1,000.00 $1,065.70 $ 9.73
Class C............ $1,000.00 $1,066.10 $ 9.27
Class Y............ $1,000.00 $1,072.20 $ 3.34
THE HARTFORD
AGGRESSIVE GROWTH
ALLOCATION FUND
Class A............ $1,000.00 $1,155.60 $ 3.79
Class B............ $1,000.00 $1,151.70 $ 7.26
Class C............ $1,000.00 $1,151.70 $ 7.26
THE HARTFORD BALANCED
ALLOCATION FUND
Class A............ $1,000.00 $1,100.70 $ 3.23
Class B............ $1,000.00 $1,097.20 $ 6.97
Class C............ $1,000.00 $1,097.20 $ 6.97
THE HARTFORD CAPITAL
APPRECIATION FUND
Class A............ $1,000.00 $1,167.90 $ 6.34
Class B............ $1,000.00 $1,163.30 $10.57
Class C............ $1,000.00 $1,164.10 $10.14
Class Y............ $1,000.00 $1,170.50 $ 3.98
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD ADVISERS
FUND
Class A............ $1,000.00 $1,019.29 $ 5.56 1.11% 181 365
Class B............ $1,000.00 $1,015.37 $ 9.49 1.90% 181 365
Class C............ $1,000.00 $1,015.82 $ 9.05 1.81% 181 365
Class Y............ $1,000.00 $1,021.57 $ 3.26 0.65% 181 365
THE HARTFORD
AGGRESSIVE GROWTH
ALLOCATION FUND
Class A............ $1,000.00 $1,021.27 $ 3.56 0.71% 181 365
Class B............ $1,000.00 $1,018.05 $ 6.80 1.36% 181 365
Class C............ $1,000.00 $1,018.05 $ 6.80 1.36% 181 365
THE HARTFORD BALANCED
ALLOCATION FUND
Class A............ $1,000.00 $1,021.72 $ 3.11 0.62% 181 365
Class B............ $1,000.00 $1,018.15 $ 6.71 1.34% 181 365
Class C............ $1,000.00 $1,018.15 $ 6.71 1.34% 181 365
THE HARTFORD CAPITAL
APPRECIATION FUND
Class A............ $1,000.00 $1,018.94 $ 5.91 1.18% 181 365
Class B............ $1,000.00 $1,015.03 $ 9.84 1.97% 181 365
Class C............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class Y............ $1,000.00 $1,021.12 $ 3.71 0.74% 181 365
</Table>
326
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD CAPITAL
APPRECIATION II
FUND
Class A............ $1,000.00 $1,191.10 $ 8.75
Class B............ $1,000.00 $1,188.30 $12.53
Class C............ $1,000.00 $1,187.10 $12.80
Class Y............ $1,000.00 $1,195.50 $ 6.26
THE HARTFORD
CONSERVATIVE
ALLOCATION FUND
Class A............ $1,000.00 $1,069.60 $ 3.18
Class B............ $1,000.00 $1,067.00 $ 6.61
Class C............ $1,000.00 $1,066.10 $ 6.61
THE HARTFORD
DISCIPLINED EQUITY
FUND
Class A............ $1,000.00 $1,080.50 $ 7.22
Class B............ $1,000.00 $1,077.30 $10.61
Class C............ $1,000.00 $1,077.30 $10.76
Class Y............ $1,000.00 $1,084.40 $ 4.60
THE HARTFORD DIVIDEND
AND GROWTH FUND
Class A............ $1,000.00 $1,110.70 $ 0.00
Class B............ $1,000.00 $1,106.00 $ 0.00
Class C............ $1,000.00 $1,106.90 $ 0.00
Class Y............ $1,000.00 $1,113.50 $ 0.00
THE HARTFORD EQUITY
INCOME FUND
Class A............ $1,000.00 $1,111.30 $ 5.34
Class B............ $1,000.00 $1,106.00 $ 9.71
Class C............ $1,000.00 $1,106.70 $ 8.98
Class Y............ $1,000.00 $1,113.10 $ 3.09
THE HARTFORD FLOATING
RATE FUND
Class A............ $1,000.00 $1,035.70 $ 1.92
Class B............ $1,000.00 $1,031.60 $ 6.25
Class C............ $1,000.00 $1,031.80 $ 5.84
Class Y............ $1,000.00 $1,037.30 $ 0.40
THE HARTFORD FOCUS
FUND
Class A............ $1,000.00 $1,073.80 $ 7.71
Class B............ $1,000.00 $1,069.40 $11.54
Class C............ $1,000.00 $1,070.40 $11.55
Class Y............ $1,000.00 $1,076.00 $ 5.46
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
Class A............ $1,000.00 $1,138.90 $ 6.10
Class B............ $1,000.00 $1,134.90 $ 9.10
Class C............ $1,000.00 $1,134.50 $10.11
Class Y............ $1,000.00 $1,140.20 $ 3.98
THE HARTFORD GLOBAL
FINANCIAL SERVICES
FUND
Class A............ $1,000.00 $1,187.30 $ 6.24
Class B............ $1,000.00 $1,183.30 $ 9.69
Class C............ $1,000.00 $1,182.30 $10.23
Class Y............ $1,000.00 $1,188.70 $ 4.07
THE HARTFORD GLOBAL
HEALTH FUND
Class A............ $1,000.00 $1,087.10 $ 8.18
Class B............ $1,000.00 $1,083.00 $11.67
Class C............ $1,000.00 $1,083.00 $11.98
Class Y............ $1,000.00 $1,089.70 $ 5.60
THE HARTFORD GLOBAL
LEADERS FUND
Class A............ $1,000.00 $1,186.90 $ 7.92
Class B............ $1,000.00 $1,182.80 $11.69
Class C............ $1,000.00 $1,182.50 $11.96
Class Y............ $1,000.00 $1,190.50 $ 5.16
THE HARTFORD GLOBAL
TECHNOLOGY FUND
Class A............ $1,000.00 $1,165.00 $ 7.09
Class B............ $1,000.00 $1,161.40 $10.56
Class C............ $1,000.00 $1,161.40 $11.79
Class Y............ $1,000.00 $1,167.00 $ 6.45
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD CAPITAL
APPRECIATION II
FUND
Class A............ $1,000.00 $1,016.81 $ 8.05 1.61% 181 365
Class B............ $1,000.00 $1,013.34 $11.53 2.31% 181 365
Class C............ $1,000.00 $1,013.09 $11.78 2.36% 181 365
Class Y............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
THE HARTFORD
CONSERVATIVE
ALLOCATION FUND
Class A............ $1,000.00 $1,021.72 $ 3.11 0.62% 181 365
Class B............ $1,000.00 $1,018.40 $ 6.46 1.29% 181 365
Class C............ $1,000.00 $1,018.40 $ 6.46 1.29% 181 365
THE HARTFORD
DISCIPLINED EQUITY
FUND
Class A............ $1,000.00 $1,017.85 $ 7.00 1.40% 181 365
Class B............ $1,000.00 $1,014.58 $10.29 2.06% 181 365
Class C............ $1,000.00 $1,014.43 $10.44 2.09% 181 365
Class Y............ $1,000.00 $1,020.38 $ 4.46 0.89% 181 365
THE HARTFORD DIVIDEND
AND GROWTH FUND
Class A............ $1,000.00 $1,024.79 $ 0.00 0.00% 181 365
Class B............ $1,000.00 $1,024.79 $ 0.00 0.00% 181 365
Class C............ $1,000.00 $1,024.79 $ 0.00 0.00% 181 365
Class Y............ $1,000.00 $1,024.79 $ 0.00 0.00% 181 365
THE HARTFORD EQUITY
INCOME FUND
Class A............ $1,000.00 $1,019.74 $ 5.11 1.02% 181 365
Class B............ $1,000.00 $1,015.57 $ 9.30 1.86% 181 365
Class C............ $1,000.00 $1,016.27 $ 8.60 1.72% 181 365
Class Y............ $1,000.00 $1,021.87 $ 2.96 0.59% 181 365
THE HARTFORD FLOATING
RATE FUND
Class A............ $1,000.00 $1,022.91 $ 1.91 0.38% 181 365
Class B............ $1,000.00 $1,018.65 $ 6.21 1.24% 181 365
Class C............ $1,000.00 $1,019.04 $ 5.81 1.16% 181 365
Class Y............ $1,000.00 $1,024.40 $ 0.40 0.08% 181 365
THE HARTFORD FOCUS
FUND
Class A............ $1,000.00 $1,017.36 $ 7.50 1.50% 181 365
Class B............ $1,000.00 $1,013.64 $11.23 2.25% 181 365
Class C............ $1,000.00 $1,013.64 $11.23 2.25% 181 365
Class Y............ $1,000.00 $1,019.54 $ 5.31 1.06% 181 365
THE HARTFORD GLOBAL
COMMUNICATIONS FUND
Class A............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
Class B............ $1,000.00 $1,016.27 $ 8.60 1.72% 181 365
Class C............ $1,000.00 $1,015.32 $ 9.54 1.91% 181 365
Class Y............ $1,000.00 $1,021.08 $ 3.76 0.75% 181 365
THE HARTFORD GLOBAL
FINANCIAL SERVICES
FUND
Class A............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
Class B............ $1,000.00 $1,015.92 $ 8.95 1.79% 181 365
Class C............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class Y............ $1,000.00 $1,021.08 $ 3.76 0.75% 181 365
THE HARTFORD GLOBAL
HEALTH FUND
Class A............ $1,000.00 $1,016.96 $ 7.90 1.58% 181 365
Class B............ $1,000.00 $1,013.59 $11.28 2.26% 181 365
Class C............ $1,000.00 $1,013.29 $11.58 2.32% 181 365
Class Y............ $1,000.00 $1,019.44 $ 5.41 1.08% 181 365
THE HARTFORD GLOBAL
LEADERS FUND
Class A............ $1,000.00 $1,017.55 $ 7.30 1.46% 181 365
Class B............ $1,000.00 $1,014.08 $10.79 2.16% 181 365
Class C............ $1,000.00 $1,013.84 $11.03 2.21% 181 365
Class Y............ $1,000.00 $1,020.08 $ 4.76 0.95% 181 365
THE HARTFORD GLOBAL
TECHNOLOGY FUND
Class A............ $1,000.00 $1,018.25 $ 6.61 1.32% 181 365
Class B............ $1,000.00 $1,015.03 $ 9.84 1.97% 181 365
Class C............ $1,000.00 $1,013.88 $10.99 2.20% 181 365
Class Y............ $1,000.00 $1,018.84 $ 6.01 1.20% 181 365
</Table>
327
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD GROWTH
ALLOCATION FUND
Class A............ $1,000.00 $1,124.70 $ 3.48
Class B............ $1,000.00 $1,121.50 $ 6.89
Class C............ $1,000.00 $1,120.60 $ 6.89
THE HARTFORD GROWTH
FUND
Class A............ $1,000.00 $1,101.60 $ 6.88
Class B............ $1,000.00 $1,097.50 $10.71
Class C............ $1,000.00 $1,098.10 $10.35
Class H............ $1,000.00 $1,098.50 $ 9.21
Class L............ $1,000.00 $1,102.90 $ 5.32
Class M............ $1,000.00 $1,098.60 $ 9.21
Class N............ $1,000.00 $1,098.60 $ 9.21
Class Y............ $1,000.00 $1,103.70 $ 4.17
THE HARTFORD GROWTH
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,167.50 $ 6.40
Class B............ $1,000.00 $1,162.80 $11.05
Class C............ $1,000.00 $1,162.80 $11.10
Class H............ $1,000.00 $1,164.00 $ 9.66
Class L............ $1,000.00 $1,168.10 $ 5.64
Class M............ $1,000.00 $1,163.90 $ 9.66
Class N............ $1,000.00 $1,164.30 $ 9.66
Class Y............ $1,000.00 $1,169.80 $ 4.52
Class Z............ $1,000.00 $1,169.80 $ 4.30
THE HARTFORD HIGH
YIELD FUND
Class A............ $1,000.00 $1,048.10 $ 6.09
Class B............ $1,000.00 $1,045.60 $ 9.89
Class C............ $1,000.00 $1,046.00 $ 9.59
Class Y............ $1,000.00 $1,050.70 $ 3.71
THE HARTFORD INCOME
ALLOCATION FUND
Class A............ $1,000.00 $1,012.20 $ 2.94
Class B............ $1,000.00 $1,009.70 $ 6.43
Class C............ $1,000.00 $1,009.70 $ 6.43
THE HARTFORD INCOME
FUND
Class A............ $1,000.00 $1,018.00 $ 2.55
Class B............ $1,000.00 $1,014.20 $ 4.39
Class C............ $1,000.00 $1,014.20 $ 3.80
Class Y............ $1,000.00 $1,018.30 $ 3.80
THE HARTFORD
INFLATION PLUS FUND
Class A............ $1,000.00 $ 987.10 $ 4.68
Class B............ $1,000.00 $ 983.40 $ 8.36
Class C............ $1,000.00 $ 984.30 $ 8.36
Class Y............ $1,000.00 $ 989.50 $ 3.35
THE HARTFORD
INTERNATIONAL
CAPITAL
APPRECIATION FUND
Class A............ $1,000.00 $1,252.60 $ 8.94
Class B............ $1,000.00 $1,248.10 $12.71
Class C............ $1,000.00 $1,248.10 $13.10
Class Y............ $1,000.00 $1,255.50 $ 6.43
THE HARTFORD
INTERNATIONAL
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,224.10 $ 8.44
Class B............ $1,000.00 $1,220.20 $11.62
Class C............ $1,000.00 $1,219.20 $12.88
Class Y............ $1,000.00 $1,227.30 $ 5.69
THE HARTFORD
INTERNATIONAL SMALL
COMPANY FUND
Class A............ $1,000.00 $1,276.80 $ 8.86
Class B............ $1,000.00 $1,272.90 $12.62
Class C............ $1,000.00 $1,271.90 $13.24
Class Y............ $1,000.00 $1,279.10 $ 6.78
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD GROWTH
ALLOCATION FUND
Class A............ $1,000.00 $1,021.52 $ 3.31 0.66% 181 365
Class B............ $1,000.00 $1,018.30 $ 6.56 1.31% 181 365
Class C............ $1,000.00 $1,018.30 $ 6.56 1.31% 181 365
THE HARTFORD GROWTH
FUND
Class A............ $1,000.00 $1,018.25 $ 6.61 1.32% 181 365
Class B............ $1,000.00 $1,014.58 $10.29 2.06% 181 365
Class C............ $1,000.00 $1,014.93 $ 9.94 1.99% 181 365
Class H............ $1,000.00 $1,016.02 $ 8.85 1.77% 181 365
Class L............ $1,000.00 $1,019.74 $ 5.11 1.02% 181 365
Class M............ $1,000.00 $1,016.02 $ 8.85 1.77% 181 365
Class N............ $1,000.00 $1,016.02 $ 8.85 1.77% 181 365
Class Y............ $1,000.00 $1,020.83 $ 4.01 0.80% 181 365
THE HARTFORD GROWTH
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,018.89 $ 5.96 1.19% 181 365
Class B............ $1,000.00 $1,014.58 $10.29 2.06% 181 365
Class C............ $1,000.00 $1,014.53 $10.34 2.07% 181 365
Class H............ $1,000.00 $1,015.87 $ 9.00 1.80% 181 365
Class L............ $1,000.00 $1,019.59 $ 5.26 1.05% 181 365
Class M............ $1,000.00 $1,015.87 $ 9.00 1.80% 181 365
Class N............ $1,000.00 $1,015.87 $ 9.00 1.80% 181 365
Class Y............ $1,000.00 $1,020.63 $ 4.21 0.84% 181 365
Class Z............ $1,000.00 $1,020.83 $ 4.01 0.80% 181 365
THE HARTFORD HIGH
YIELD FUND
Class A............ $1,000.00 $1,018.84 $ 6.01 1.20% 181 365
Class B............ $1,000.00 $1,015.12 $ 9.74 1.95% 181 365
Class C............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class Y............ $1,000.00 $1,021.17 $ 3.66 0.73% 181 365
THE HARTFORD INCOME
ALLOCATION FUND
Class A............ $1,000.00 $1,021.87 $ 2.96 0.59% 181 365
Class B............ $1,000.00 $1,018.40 $ 6.46 1.29% 181 365
Class C............ $1,000.00 $1,018.40 $ 6.46 1.29% 181 365
THE HARTFORD INCOME
FUND
Class A............ $1,000.00 $1,022.27 $ 2.56 0.51% 181 365
Class B............ $1,000.00 $1,020.43 $ 4.41 0.88% 181 365
Class C............ $1,000.00 $1,021.03 $ 3.81 0.76% 181 365
Class Y............ $1,000.00 $1,021.03 $ 3.81 0.76% 181 365
THE HARTFORD
INFLATION PLUS FUND
Class A............ $1,000.00 $1,020.08 $ 4.76 0.95% 181 365
Class B............ $1,000.00 $1,016.36 $ 8.50 1.70% 181 365
Class C............ $1,000.00 $1,016.36 $ 8.50 1.70% 181 365
Class Y............ $1,000.00 $1,021.42 $ 3.41 0.68% 181 365
THE HARTFORD
INTERNATIONAL
CAPITAL
APPRECIATION FUND
Class A............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class B............ $1,000.00 $1,013.49 $11.38 2.28% 181 365
Class C............ $1,000.00 $1,013.14 $11.73 2.35% 181 365
Class Y............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
THE HARTFORD
INTERNATIONAL
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,017.21 $ 7.65 1.53% 181 365
Class B............ $1,000.00 $1,014.33 $10.54 2.11% 181 365
Class C............ $1,000.00 $1,013.19 $11.68 2.34% 181 365
Class Y............ $1,000.00 $1,019.69 $ 5.16 1.03% 181 365
THE HARTFORD
INTERNATIONAL SMALL
COMPANY FUND
Class A............ $1,000.00 $1,017.01 $ 7.85 1.57% 181 365
Class B............ $1,000.00 $1,013.69 $11.18 2.24% 181 365
Class C............ $1,000.00 $1,013.14 $11.73 2.35% 181 365
Class Y............ $1,000.00 $1,018.84 $ 6.01 1.20% 181 365
</Table>
328
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD MIDCAP
FUND
Class A............ $1,000.00 $1,178.30 $ 6.81
Class B............ $1,000.00 $1,173.90 $10.89
Class C............ $1,000.00 $1,174.10 $10.51
Class Y............ $1,000.00 $1,180.70 $ 4.33
THE HARTFORD MIDCAP
VALUE FUND
Class A............ $1,000.00 $1,191.20 $ 7.61
Class B............ $1,000.00 $1,186.50 $11.60
Class C............ $1,000.00 $1,187.20 $11.66
Class Y............ $1,000.00 $1,193.80 $ 5.11
THE HARTFORD MONEY
MARKET FUND
Class A............ $1,000.00 $1,017.60 $ 4.75
Class B............ $1,000.00 $1,013.80 $ 8.49
Class C............ $1,000.00 $1,013.80 $ 8.49
Class Y............ $1,000.00 $1,019.60 $ 2.75
THE HARTFORD
RETIREMENT INCOME
FUND
Class A............ $1,000.00 $1,023.20 $ 2.66
Class B............ $1,000.00 $1,020.10 $ 6.51
Class C............ $1,000.00 $1,020.10 $ 6.51
Class Y............ $1,000.00 $1,026.70 $ 1.11
THE HARTFORD SELECT
MIDCAP GROWTH FUND
Class A............ $1,000.00 $1,159.00 $ 8.08
Class B............ $1,000.00 $1,155.90 $11.44
Class C............ $1,000.00 $1,155.90 $12.03
Class Y............ $1,000.00 $1,160.50 $ 4.87
THE HARTFORD SELECT
MIDCAP VALUE FUND
Class A............ $1,000.00 $1,132.10 $ 8.19
Class B............ $1,000.00 $1,127.90 $12.03
Class C............ $1,000.00 $1,128.90 $12.14
Class Y............ $1,000.00 $1,134.20 $ 6.09
THE HARTFORD SELECT
SMALLCAP GROWTH
FUND
Class A............ $1,000.00 $1,170.10 $ 8.88
Class B............ $1,000.00 $1,167.20 $12.95
Class C............ $1,000.00 $1,167.20 $12.95
Class Y............ $1,000.00 $1,173.30 $ 9.48
THE HARTFORD SHORT
DURATION FUND
Class A............ $1,000.00 $1,015.00 $ 4.50
Class B............ $1,000.00 $1,011.20 $ 8.23
Class C............ $1,000.00 $1,011.20 $ 8.23
Class Y............ $1,000.00 $1,015.20 $ 3.25
THE HARTFORD SMALL
COMPANY FUND
Class A............ $1,000.00 $1,252.60 $ 7.82
Class B............ $1,000.00 $1,248.80 $11.71
Class C............ $1,000.00 $1,248.00 $11.98
Class Y............ $1,000.00 $1,256.10 $ 5.37
THE HARTFORD SMALLCAP
GROWTH FUND
Class A............ $1,000.00 $1,140.60 $ 6.95
Class B............ $1,000.00 $1,137.30 $10.70
Class C............ $1,000.00 $1,136.50 $11.39
Class H............ $1,000.00 $1,138.20 $10.02
Class L............ $1,000.00 $1,142.10 $ 6.05
Class M............ $1,000.00 $1,138.00 $10.02
Class N............ $1,000.00 $1,137.80 $10.02
Class Y............ $1,000.00 $1,143.70 $ 4.84
THE HARTFORD STOCK
FUND
Class A............ $1,000.00 $1,108.30 $ 6.53
Class B............ $1,000.00 $1,103.30 $10.85
Class C............ $1,000.00 $1,103.70 $10.54
Class Y............ $1,000.00 $1,110.60 $ 3.98
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD MIDCAP
FUND
Class A............ $1,000.00 $1,018.55 $ 6.31 1.26% 181 365
Class B............ $1,000.00 $1,014.78 $10.09 2.02% 181 365
Class C............ $1,000.00 $1,015.12 $ 9.74 1.95% 181 365
Class Y............ $1,000.00 $1,020.83 $ 4.01 0.80% 181 365
THE HARTFORD MIDCAP
VALUE FUND
Class A............ $1,000.00 $1,017.85 $ 7.00 1.40% 181 365
Class B............ $1,000.00 $1,014.18 $10.69 2.14% 181 365
Class C............ $1,000.00 $1,014.13 $10.74 2.15% 181 365
Class Y............ $1,000.00 $1,020.13 $ 4.71 0.94% 181 365
THE HARTFORD MONEY
MARKET FUND
Class A............ $1,000.00 $1,020.08 $ 4.76 0.95% 181 365
Class B............ $1,000.00 $1,016.36 $ 8.50 1.70% 181 365
Class C............ $1,000.00 $1,016.36 $ 8.50 1.70% 181 365
Class Y............ $1,000.00 $1,022.07 $ 2.76 0.55% 181 365
THE HARTFORD
RETIREMENT INCOME
FUND
Class A............ $1,000.00 $1,022.17 $ 2.66 0.53% 181 365
Class B............ $1,000.00 $1,018.35 $ 6.51 1.30% 181 365
Class C............ $1,000.00 $1,018.35 $ 6.51 1.30% 181 365
Class Y............ $1,000.00 $1,023.70 $ 1.10 0.22% 181 365
THE HARTFORD SELECT
MIDCAP GROWTH FUND
Class A............ $1,000.00 $1,017.31 $ 7.55 1.51% 181 365
Class B............ $1,000.00 $1,014.18 $10.69 2.14% 181 365
Class C............ $1,000.00 $1,013.64 $11.23 2.25% 181 365
Class Y............ $1,000.00 $1,020.28 $ 4.56 0.91% 181 365
THE HARTFORD SELECT
MIDCAP VALUE FUND
Class A............ $1,000.00 $1,017.11 $ 7.75 1.55% 181 365
Class B............ $1,000.00 $1,013.49 $11.38 2.28% 181 365
Class C............ $1,000.00 $1,013.39 $11.48 2.30% 181 365
Class Y............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
THE HARTFORD SELECT
SMALLCAP GROWTH
FUND
Class A............ $1,000.00 $1,016.61 $ 8.25 1.65% 181 365
Class B............ $1,000.00 $1,012.84 $12.03 2.41% 181 365
Class C............ $1,000.00 $1,012.84 $12.03 2.41% 181 365
Class Y............ $1,000.00 $1,016.07 $ 8.80 1.76% 181 365
THE HARTFORD SHORT
DURATION FUND
Class A............ $1,000.00 $1,020.33 $ 4.51 0.90% 181 365
Class B............ $1,000.00 $1,016.61 $ 8.25 1.65% 181 365
Class C............ $1,000.00 $1,016.61 $ 8.25 1.65% 181 365
Class Y............ $1,000.00 $1,021.57 $ 3.26 0.65% 181 365
THE HARTFORD SMALL
COMPANY FUND
Class A............ $1,000.00 $1,017.85 $ 7.00 1.40% 181 365
Class B............ $1,000.00 $1,014.38 $10.49 2.10% 181 365
Class C............ $1,000.00 $1,014.13 $10.74 2.15% 181 365
Class Y............ $1,000.00 $1,020.03 $ 4.81 0.96% 181 365
THE HARTFORD SMALLCAP
GROWTH FUND
Class A............ $1,000.00 $1,018.30 $ 6.56 1.31% 181 365
Class B............ $1,000.00 $1,014.78 $10.09 2.02% 181 365
Class C............ $1,000.00 $1,014.13 $10.74 2.15% 181 365
Class H............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class L............ $1,000.00 $1,019.14 $ 5.71 1.14% 181 365
Class M............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class N............ $1,000.00 $1,015.42 $ 9.44 1.89% 181 365
Class Y............ $1,000.00 $1,020.28 $ 4.56 0.91% 181 365
THE HARTFORD STOCK
FUND
Class A............ $1,000.00 $1,018.60 $ 6.26 1.25% 181 365
Class B............ $1,000.00 $1,014.48 $10.39 2.08% 181 365
Class C............ $1,000.00 $1,014.78 $10.09 2.02% 181 365
Class Y............ $1,000.00 $1,021.03 $ 3.81 0.76% 181 365
</Table>
329
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
EXPENSE EXAMPLE -- (CONTINUED)
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD TAX-FREE
CALIFORNIA FUND
Class A............ $1,000.00 $1,015.90 $ 4.50
Class B............ $1,000.00 $1,012.10 $ 8.23
Class C............ $1,000.00 $1,012.10 $ 8.23
THE HARTFORD TARGET
RETIREMENT 2010
FUND
Class A............ $1,000.00 $1,054.10 $ 2.70
Class B............ $1,000.00 $1,049.20 $ 6.50
Class C............ $1,000.00 $1,049.50 $ 6.50
Class Y............ $1,000.00 $1,055.30 $ 1.07
THE HARTFORD TARGET
RETIREMENT 2020
FUND
Class A............ $1,000.00 $1,084.20 $ 2.64
Class B............ $1,000.00 $1,080.60 $ 6.55
Class C............ $1,000.00 $1,080.50 $ 6.55
Class Y............ $1,000.00 $1,085.20 $ 1.09
THE HARTFORD TARGET
RETIREMENT 2030
FUND
Class A............ $1,000.00 $1,084.80 $ 2.53
Class B............ $1,000.00 $1,081.70 $ 6.45
Class C............ $1,000.00 $1,081.80 $ 6.87
Class Y............ $1,000.00 $1,087.50 $ 0.98
THE HARTFORD TAX-FREE
MINNESOTA FUND
Class A............ $1,000.00 $1,013.40 $ 4.24
Class B............ $1,000.00 $1,009.60 $ 7.97
Class C............ $1,000.00 $1,009.60 $ 7.97
Class E............ $1,000.00 $1,013.40 $ 4.29
Class H............ $1,000.00 $1,009.60 $ 7.97
Class L............ $1,000.00 $1,013.10 $ 4.49
Class M............ $1,000.00 $1,009.60 $ 7.97
Class N............ $1,000.00 $1,009.60 $ 7.97
Class Y............ $1,000.00 $1,013.40 $ 4.34
THE HARTFORD TAX-FREE
NATIONAL FUND
Class A............ $1,000.00 $1,019.00 $ 5.01
Class B............ $1,000.00 $1,015.30 $ 8.74
Class C............ $1,000.00 $1,015.30 $ 8.74
Class E............ $1,000.00 $1,019.60 $ 4.46
Class H............ $1,000.00 $1,015.30 $ 8.74
Class L............ $1,000.00 $1,019.70 $ 5.26
Class M............ $1,000.00 $1,015.30 $ 8.74
Class N............ $1,000.00 $1,015.30 $ 8.74
Class Y............ $1,000.00 $1,019.50 $ 4.46
THE HARTFORD TAX-FREE
NEW YORK FUND
Class A............ $1,000.00 $1,016.10 $ 4.25
Class B............ $1,000.00 $1,012.30 $ 7.98
Class C............ $1,000.00 $1,012.30 $ 7.98
THE HARTFORD TOTAL
RETURN BOND FUND
Class A............ $1,000.00 $1,004.30 $ 5.96
Class B............ $1,000.00 $1,000.50 $ 9.67
Class C............ $1,000.00 $1,000.00 $ 9.27
Class Y............ $1,000.00 $1,006.70 $ 3.53
THE HARTFORD U.S.
GOVERNMENT
SECURITIES FUND
Class A............ $1,000.00 $1,000.10 $ 5.70
Class B............ $1,000.00 $ 997.40 $ 9.41
Class C............ $1,000.00 $ 997.40 $ 9.41
Class E............ $1,000.00 $1,001.70 $ 4.17
Class H............ $1,000.00 $ 997.80 $ 9.11
Class L............ $1,000.00 $1,000.50 $ 5.41
Class M............ $1,000.00 $ 996.70 $ 9.11
Class N............ $1,000.00 $ 996.70 $ 9.11
Class Y............ $1,000.00 $1,005.90 $ 4.18
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD TAX-FREE
CALIFORNIA FUND
Class A............ $1,000.00 $1,020.33 $ 4.51 0.90% 181 365
Class B............ $1,000.00 $1,016.61 $ 8.25 1.65% 181 365
Class C............ $1,000.00 $1,016.61 $ 8.25 1.65% 181 365
THE HARTFORD TARGET
RETIREMENT 2010
FUND
Class A............ $1,000.00 $1,022.17 $ 2.66 0.53% 181 365
Class B............ $1,000.00 $1,018.45 $ 6.41 1.28% 181 365
Class C............ $1,000.00 $1,018.45 $ 6.41 1.28% 181 365
Class Y............ $1,000.00 $1,023.75 $ 1.05 0.21% 181 365
THE HARTFORD TARGET
RETIREMENT 2020
FUND
Class A............ $1,000.00 $1,022.27 $ 2.56 0.51% 181 365
Class B............ $1,000.00 $1,018.50 $ 6.36 1.27% 181 365
Class C............ $1,000.00 $1,018.50 $ 6.36 1.27% 181 365
Class Y............ $1,000.00 $1,023.75 $ 1.05 0.21% 181 365
THE HARTFORD TARGET
RETIREMENT 2030
FUND
Class A............ $1,000.00 $1,022.36 $ 2.46 0.49% 181 365
Class B............ $1,000.00 $1,018.60 $ 6.26 1.25% 181 365
Class C............ $1,000.00 $1,018.20 $ 6.66 1.33% 181 365
Class Y............ $1,000.00 $1,023.85 $ 0.95 0.19% 181 365
THE HARTFORD TAX-FREE
MINNESOTA FUND
Class A............ $1,000.00 $1,020.58 $ 4.26 0.85% 181 365
Class B............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class C............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class E............ $1,000.00 $1,020.53 $ 4.31 0.86% 181 365
Class H............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class L............ $1,000.00 $1,020.33 $ 4.51 0.90% 181 365
Class M............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class N............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class Y............ $1,000.00 $1,020.48 $ 4.36 0.87% 181 365
THE HARTFORD TAX-FREE
NATIONAL FUND
Class A............ $1,000.00 $1,019.84 $ 5.01 1.00% 181 365
Class B............ $1,000.00 $1,016.12 $ 8.75 1.75% 181 365
Class C............ $1,000.00 $1,016.12 $ 8.75 1.75% 181 365
Class E............ $1,000.00 $1,020.38 $ 4.46 0.89% 181 365
Class H............ $1,000.00 $1,016.12 $ 8.75 1.75% 181 365
Class L............ $1,000.00 $1,019.59 $ 5.26 1.05% 181 365
Class M............ $1,000.00 $1,016.12 $ 8.75 1.75% 181 365
Class N............ $1,000.00 $1,016.12 $ 8.75 1.75% 181 365
Class Y............ $1,000.00 $1,020.38 $ 4.46 0.89% 181 365
THE HARTFORD TAX-FREE
NEW YORK FUND
Class A............ $1,000.00 $1,020.58 $ 4.26 0.85% 181 365
Class B............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
Class C............ $1,000.00 $1,016.86 $ 8.00 1.60% 181 365
THE HARTFORD TOTAL
RETURN BOND FUND
Class A............ $1,000.00 $1,018.84 $ 6.01 1.20% 181 365
Class B............ $1,000.00 $1,015.12 $ 9.74 1.95% 181 365
Class C............ $1,000.00 $1,015.52 $ 9.35 1.87% 181 365
Class Y............ $1,000.00 $1,021.27 $ 3.56 0.71% 181 365
THE HARTFORD U.S.
GOVERNMENT
SECURITIES FUND
Class A............ $1,000.00 $1,019.09 $ 5.76 1.15% 181 365
Class B............ $1,000.00 $1,015.37 $ 9.49 1.90% 181 365
Class C............ $1,000.00 $1,015.37 $ 9.49 1.90% 181 365
Class E............ $1,000.00 $1,020.63 $ 4.21 0.84% 181 365
Class H............ $1,000.00 $1,015.67 $ 9.20 1.84% 181 365
Class L............ $1,000.00 $1,019.39 $ 5.46 1.09% 181 365
Class M............ $1,000.00 $1,015.67 $ 9.20 1.84% 181 365
Class N............ $1,000.00 $1,015.67 $ 9.20 1.84% 181 365
Class Y............ $1,000.00 $1,020.63 $ 4.21 0.84% 181 365
</Table>
330
- --------------------------------------------------------------------------------
<Table>
<Caption>
ACTUAL RETURN
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD
ACCOUNT ACCOUNT OCTOBER 31, 2005
VALUE VALUE THROUGH
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006
---------------- -------------- -----------------
THE HARTFORD VALUE
FUND
Class A............ $1,000.00 $1,126.70 $ 7.33
Class B............ $1,000.00 $1,122.40 $11.05
Class C............ $1,000.00 $1,122.40 $11.31
Class Y............ $1,000.00 $1,129.10 $ 4.80
THE HARTFORD VALUE
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,167.40 $ 7.52
Class B............ $1,000.00 $1,163.00 $11.26
Class C............ $1,000.00 $1,163.00 $11.53
Class H............ $1,000.00 $1,164.10 $10.52
Class L............ $1,000.00 $1,168.70 $ 6.56
Class M............ $1,000.00 $1,163.50 $10.57
Class N............ $1,000.00 $1,164.10 $10.57
Class Y............ $1,000.00 $1,169.40 $ 5.33
<Caption>
HYPOTHETICAL (5% RETURN BEFORE EXPENSES)
-----------------------------------------------------
EXPENSES PAID
BEGINNING ENDING DURING THE PERIOD DAYS
ACCOUNT ACCOUNT OCTOBER 31, 2005 ANNUALIZED IN THE DAYS
VALUE VALUE THROUGH EXPENSE CURRENT IN THE
OCTOBER 31, 2005 APRIL 30, 2006 APRIL 30, 2006 RATIO 1/2 YEAR FULL YEAR
---------------- -------------- ----------------- ---------- -------- ---------
THE HARTFORD VALUE
FUND
Class A............ $1,000.00 $1,017.90 $ 6.95 1.39% 181 365
Class B............ $1,000.00 $1,014.38 $10.49 2.10% 181 365
Class C............ $1,000.00 $1,014.13 $10.74 2.15% 181 365
Class Y............ $1,000.00 $1,020.28 $ 4.56 0.91% 181 365
THE HARTFORD VALUE
OPPORTUNITIES FUND
Class A............ $1,000.00 $1,017.85 $ 7.00 1.40% 181 365
Class B............ $1,000.00 $1,014.38 $10.49 2.10% 181 365
Class C............ $1,000.00 $1,014.13 $10.74 2.15% 181 365
Class H............ $1,000.00 $1,015.08 $ 9.79 1.96% 181 365
Class L............ $1,000.00 $1,018.74 $ 6.11 1.22% 181 365
Class M............ $1,000.00 $1,015.03 $ 9.84 1.97% 181 365
Class N............ $1,000.00 $1,015.03 $ 9.84 1.97% 181 365
Class Y............ $1,000.00 $1,019.89 $ 4.96 0.99% 181 365
</Table>
331
THE HARTFORD MUTUAL FUNDS, INC. AND THE HARTFORD MUTUAL FUNDS II, INC.
SHAREHOLDER MEETING RESULTS (UNAUDITED)
- --------------------------------------------------------------------------------
The following proposal was addressed and approved at a special meeting of
shareholders held on May 23, 2006.
1. Proposal to approve a sub-advisory agreement with Hartford Investment
Management Company
<Table>
<Caption>
FOR AGAINST ABSTAIN
------------- ----------- -----------
Hartford Small Company Fund................................. 7,777,517.478 504,920.737 397,318.452
</Table>
332
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED)
THE HARTFORD SMALL COMPANY FUND
(FOR PURPOSES OF THIS SECTION, THE TERM "FUND" SHALL REFER ONLY TO SMALL COMPANY
FUND)
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"), review and approve each new
investment advisory and sub-advisory agreement.
At a special meeting held on February 8, 2006, the Board of Directors of the
Fund, including each of the Independent Directors, voted to approve an
investment sub-advisory agreement for the Fund between Hartford Investment
Financial Services, LLC ("HIFSCO"), and Hartford Investment Management Company
("Hartford Investment")(the "Agreement").
In advance of the February meeting, the Board requested, received, and reviewed
written responses from HIFSCO and Hartford Investment 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 the Fund and the Agreement by Fund officers and
representatives of HIFSCO and Hartford Investment at the Board's meeting on
February 1, 2006. The Board's Investment Committee also received in-person
presentations regarding the capabilities of Hartford Investment's small cap
growth equity management team and the associated benefits to the Fund and its
shareholders at its meetings on November 1, 2005, December 20, 2005 and January
31, 2006. In addition, the Board had previously received information with
respect to the Fund and Hartford Investment when Hartford Investment Management
was re-approved as a sub-adviser to certain other funds of The Hartford Mutual
Funds, Inc. and The Hartford Mutual Funds II, Inc. (the "Companies") on August
3, 2005.
In connection with the Board's deliberations, HIFSCO agreed to reduce its fee
schedule for the Fund. In determining to approve the Agreement, the Board
determined that the Agreement, including the appointment of Hartford Investment
as sub-adviser, was fair and reasonable and in the best interests of the Fund
and its shareholders.
In determining to approve the Agreement, the Board considered the following
categories of material factors, among others, relating to the Agreement.
NATURE, EXTENT AND QUALITY OF SERVICES
The Board requested and considered information and data concerning the nature,
extent, and quality of the services to be provided to the Fund by Hartford
Investment. The Board considered, among other things, the terms of the
Agreement, the range of services to be provided, and Hartford Investment'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 Hartford Investment, and the adequacy of the time and
attention that they would devote to the Fund. The Board considered Hartford
Investment's reputation and overall financial strength, noting that Hartford
Investment's current reputation and the Board's past experience with Hartford
Investment was predominantly based on Hartford Investment's performance as a
fixed income manager. The Board also considered the experience and reputation of
equity personnel hired by Hartford Investment to service the Fund, and the level
of support provided by the organization as a whole. The Board met with Mark
Waterhouse, the proposed portfolio manager for the Fund, and members of his
management team. The Board considered HIFSCO's and Hartford Investment's
willingness to hire additional personnel designed to improve services to the
Fund, and their investments in infrastructure in light of increased regulatory
requirements, other developments, and the needs of Hartford Investment's
proposed active equity management function.
The Board also requested and evaluated information concerning Hartford
Investment's regulatory and compliance environment. Taking note that such
material was recently reviewed in August 2005 in connection with the renewal of
Hartford Investment's agreements with respect to certain of the Companies' other
funds, the Board focused on regulatory and compliance matters particular to the
management of equity securities as opposed to fixed income securities. In this
regard, the Board requested and reviewed information on Hartford Investment's
compliance policies and procedures, compliance history, and reports from the
Fund's Chief Compliance Officer on Hartford Investment's compliance with
applicable laws and regulations, including its responses to regulatory
developments and compliance issues raised by regulators. The Board also noted
HIFSCO's and Hartford Investment's support of the Companies' compliance control
structure, particularly the resources devoted by HIFSCO and Hartford Investment
in support of the Companies' obligations pursuant to Rule 38a-1 under the 1940
Act.
333
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
With respect to the day-to-day portfolio management services to be provided by
Hartford Investment, the Board considered the quality of Hartford Investment's
investment personnel (including its ability to attract and retain qualified
investment professionals); its investment philosophy and process (and adherence
to that philosophy and process); and its investment research capabilities and
resources, performance record, and trade execution capabilities and experience.
The Board noted the quality of the presentations to and communications with the
Board, and responsiveness to Board inquiries, of Hartford Investment, including
in particular Mr. Waterhouse and his team and senior management of Hartford
Investment in their in-person discussions with the Board and with the Investment
Committee. The Board recognized that HIFSCO is responsible for the overall
management of the Fund, provides investment advisory services in connection with
selecting, monitoring and supervising the Fund's sub-advisers, and had
recommended to the Board that Hartford Investment be appointed as a sub-adviser
to the Fund.
In considering this information, the Board evaluated not only the information
presented to the Board in connection with its consideration of the Agreement,
but also the Board's experience through past interactions with HIFSCO and
Hartford Investment. Based on these considerations, 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 Hartford Investment.
PERFORMANCE
The Board considered the investment performance of the Fund as managed by
Wellington Management Company, LLP ("Wellington"). In this regard, the Board
considered information and materials provided to the Board from HIFSCO comparing
the Fund's investment performance over various periods of time with appropriate
benchmark indices, and with a performance universe of funds selected by Lipper,
Inc., an independent provider of investment company data ("Lipper"), which
demonstrated that the Fund had a strong performance record under Wellington's
management.
As Hartford Investment does not have a performance track record for active
equity management, HIFSCO presented information regarding the performance record
of Mr. Waterhouse. This information included the performance record for the Fund
during the period from June 30, 1997 through December 31, 1999, when Mr.
Waterhouse, as an employee of Wellington, was a portfolio manager for the Fund,
and the performance record for another mutual fund for which Mr. Waterhouse had
served as portfolio manager, prior to his experience at Wellington. The Board
noted that the period during which Mr. Waterhouse had previously served as
portfolio manager for the Fund was a period of significant asset growth and
strong performance for the Fund. HIFSCO and Hartford Investment provided
additional information about the broad range of Mr. Waterhouse's and his team's
recent investment experience and about their investment philosophy and process.
Based on these considerations, the Board concluded that, while there could be no
guarantee of future results, the Board was satisfied that Hartford Investment
has the capability of providing satisfactory investment performance for the
Fund.
COSTS OF THE SERVICES AND PROFITABILITY OF HIFSCO AND HARTFORD INVESTMENT
The Board reviewed information regarding HIFSCO's and Hartford Investment's
costs to provide investment management and related services to the Fund and the
profitability to them from managing the Fund. The Board considered information
related to both HIFSCO and Hartford Investment, because it was proposed that
Hartford Investment be reimbursed for its costs rather than receive a set fee,
with the result that any profitability from managing the Fund would be realized
only with respect to HIFSCO. The Board also had information about the
profitability to HIFSCO and its affiliates from all services provided to the
Fund and all aspects of its relationships with the Fund. In evaluating HIFSCO's
profitability, the Board considered that initially HIFSCO did not anticipate
making a profit on the portion of the Fund's assets allocated to Hartford
Investment, and that future profitability to HIFSCO would depend on the growth
of Hartford Investment's equity assets under management.
The Board reviewed with HIFSCO the assumptions and allocation methods used 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. The Board
also recognized that HIFSCO is in the process of enhancing its assumptions and
methodology for determining profitability on an organization-wide basis. 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
334
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
the adviser's capital structure and costs of capital. The Board considered the
profitability of HIFSCO's relationship with the Fund on a pre-tax basis without
regard to distribution expenses.
Based on these considerations, the Board concluded that the profits anticipated
to be realized by HIFSCO, Hartford Investment and their affiliates from their
relationships with the Fund would not be excessive.
COMPARISON OF FEES AND SERVICES PROVIDED BY HIFSCO AND HARTFORD INVESTMENT
MANAGEMENT
The Board considered comparative information with respect to the investment
management fees to be paid by the Fund to HIFSCO and its affiliates. In this
regard, the Board received information from HIFSCO and Hartford Investment
relating to the management fees, sub-advisory fees, and total operating expenses
for the Fund. HIFSCO also referenced information comparing the Fund's management
fees and total operating expenses relative to those of a peer universe of funds
identified by Lipper as being in the small capitalization growth category. While
the Board recognized that comparisons between the Fund 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 assisted the Board in evaluating the reasonableness of
the Fund's management advisory and sub-advisory fees. In considering the
reasonableness of the Fund's fees and total expense ratios, the Board
particularly considered that the overall management fee for the Fund would be
lower as a result of HIFSCO's agreement to downward adjustments in the Fund's
management fees and expenses. These downward adjustments would reduce
contractual fees through additional breakpoints as assets in the Fund grow, and
confer an immediate benefit on existing shareholders, based on current asset
levels. The revised management fee schedule for the Fund is as follows:
<Table>
<Caption>
AVERAGE DAILY NET ASSETS ANNUAL RATE
- ------------------------ -----------
First $250 million.......................................... 0.85%
Next $250 million........................................... 0.80%
Next $500 million........................................... 0.75%
Next $500 million........................................... 0.70%
Amount Over $1.5 billion.................................... 0.65%
</Table>
Based on these considerations, and after taking into account the fee breakpoints
described above, the Board concluded that the comparative information reviewed
indicates that the Fund's management fee and sub-advisory fee 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
the Fund grows and whether the fee levels reflect these economies of scale for
the benefit of the Fund's investors.
The Board reviewed the breakpoints in the management fee schedule, including the
additional breakpoints agreed to as described above, which reduce fees as Fund
assets grow over time. These breakpoints provide economies of scale to the Fund
and its shareholders in that, as the Fund grows, its effective management fee
rate declines. The Board recognized that the Fund would continue to benefit from
economies of scale with assets beyond the last breakpoint, because additional
assets are charged the lowest breakpoint fee, resulting in a lower overall
effective management fee rate. The Board considered that the Fund 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 a schedule that reaches a lower breakpoint quickly provides
shareholders with the benefit of anticipated or potential economies of scale.
The Board noted that re-opening the Fund for investment in Class A, Class B, and
Class C shares increased the likelihood that asset growth in the Fund would
enable shareholders to benefit from the breakpoints in the management fee
schedule.
The Board received information regarding HIFSCO's and Hartford Investment's
realization of economies of scale with respect to the Fund. The Board considered
representations from HIFSCO that the initial start-up costs Hartford Investment
335
APPROVAL OF INVESTMENT MANAGEMENT AND INVESTMENT SUB-ADVISORY AGREEMENTS
(UNAUDITED) - (CONTINUED)
would incur in building its equity management capability would be high relative
to the small amount of assets under management. However, the Board acknowledged
that HIFSCO and Hartford Investment were likely to realize economies of scale
over time as Hartford Investment's equity assets under management increased.
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 the Fund's investors, based on currently available
information and the effective advisory fees and expense ratios for the Fund at
its 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 Hartford Investment's representations that it did not
currently propose to use "soft dollars" in connection with allocation of the
Fund's brokerage commissions to obtain research that would benefit all of
Hartford Investment's clients and reduce amounts Hartford Investment might
otherwise have to pay for such research.*
The Board also considered that the following companies, which are affiliates of
Hartford Investment, provide services to the Fund and receive compensation from
the Fund,
- HIFSCO serves as the Fund's principal underwriter and receives 12b-1 fees
from the Fund.
- Hartford Life Insurance Company provides fund accounting services to the
Fund and receives fund accounting fees from the Fund.
- Hartford Administrative Services Company, the Fund's transfer agent,
receives transfer agency compensation from the Fund.
HIFSCO intends to initially allocate to Hartford Investment new inflows of
assets into the Fund. Assets allocated to Hartford Investment, however, may be
increased in the future at any time. The Board considered that, because HIFSCO
intends to allocate to Hartford Investment new inflows of assets into the Fund,
HIFSCO and Hartford Investment would benefit from the Fund's existing strong
performance record.
* * * * *
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 to
approve the Agreement with Hartford Investment. 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 met with independent legal
counsel to review the relevant materials and consider their responsibilities
under relevant laws and regulations.
* At a meeting of the Board in June 20-21, 2006, Hartford Investment informed
the Board that Hartford Investment intends to allocate the Fund's brokerage
commissions to obtain certain research and brokerage services (i.e., research
and brokerage services provided by the broker executing a transaction), such
as access to company management personnel, written research, earnings models,
attendance at industry conferences, and specialized execution services.
336
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.
337
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 and 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 and
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; Pacific
Insurance Company, Limited; Planco, LLC; Planco Financial Services, LLC;
Property and Casualty Insurance Company of Hartford; Sentinel Insurance Company,
Ltd.; Servus Life Insurance Company; Specialty Risk Services, LLC.; 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.
338
ITEM 2. CODE OF ETHICS.
Not applicable to this semi-annual filing.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable to this semi-annual filing.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable to this semi-annual filing.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to this semi-annual filing.
ITEM 6. SCHEDULE OF INVESTMENTS
The Schedule of Investments is included as part of the annual report filed
under Item 1 of this form.
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT
COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
There have been no material changes to the procedures by which shareholders may
recommend nominees to the registrant's board of directors since registrant last
provided disclosure in response to this requirement.
ITEM 11. CONTROLS AND PROCEDURES.
(a) Based on an evaluation of the Registrant's Disclosure Controls and
Procedures as of a date within 90 days of the filing date of this
report, the Disclosure Controls and Procedures are effectively
designed to ensure that information required to be disclosed by the
Registrant is recorded, processed, summarized and reported by the date
of this report, including ensuring that information required to be
disclosed in the report is accumulated and communicated to the
Registrant's management, including the Registrant's officers, as
appropriate, to allow timely decisions regarding required disclosure.
(b) There was no change in the Registrant's internal control over
financial reporting that occurred during the Registrant's last fiscal
half year that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial
reporting.
ITEM 12. EXHIBITS.
11(a)(2) Section 302 certifications of the principal executive officer and
principal financial officer of Registrant.
(b) Section 906 certification.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
THE HARTFORD MUTUAL FUNDS, INC.
Date: June 15, 2006 By: /s/ David M. Znamierowski
------------------------------------
David M. Znamierowski
Its: President
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
Date: June 15, 2006 By: /s/ David M. Znamierowski
------------------------------------
David M. Znamierowski
Its: President
Date: June 15, 2006 By: /s/ Tamara L. Fagely
------------------------------------
Tamara L. Fagely
Its: Vice President, Controller and
Treasurer
EXHIBIT LIST
99.CERT 11(a)(2) Certifications
(i) Section 302 certification of principal executive
officer
(ii) Section 302 certification of principal financial
officer
99.906CERT 11(b) Section 906 certification of principal executive officer
and principal financial officer