FORM OF AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Exhibit 99.B.h.(xii)
FORM OF AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT, dated as of March 1, 2013, between The Hartford Mutual Funds, Inc. and The Hartford Mutual Funds II, Inc. (each a “Company” and collectively, the “Companies”) on behalf of each series of the Companies (each a “Fund” and collectively, the “Funds”) and Hartford Funds Management Company, LLC (the “Adviser”).
WHEREAS, the Adviser has been appointed the investment adviser of each of the Funds pursuant to an Investment Management Agreement between each Company, on behalf of the Funds, and the Adviser; and
WHEREAS, each Company and the Adviser desire to enter into the arrangements described herein relating to certain expenses of the Funds;
NOW, THEREFORE, each Company and the Adviser hereby agree as follows:
1. For the period commencing March 1, 2013 through February 28, 2014, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, to the extent necessary to maintain the net annual operating expenses specified for the class of shares of each Fund listed on Schedule A.
2. For the period commencing March 1, 2013 through February 28, 2014, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expense, brokerage commissions and extraordinary expenses, to the extent necessary to maintain the net annual operating expenses specified for the class of shares of each Fund listed on Schedule B.
3. For the period commencing May 31, 2011 through February 28, 2014, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, to the extent necessary to maintain the net annual operating expenses specified for the class of shares of each Fund listed on Schedule C.
4. For the period commencing November 30, 2012 through February 28, 2014, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses, to the extent necessary to maintain the net annual operating expenses specified for the class of shares of each Fund listed on Schedule D.
5. For the period commencing on December 14, 2012 through February 28, 2014, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses, any performance fee adjustment and extraordinary expenses, to the extent necessary to maintain the net annual operating expenses specified for the class of shares of each Fund listed on Schedule E.
6. The reimbursement described in Sections 1, 2, 3, 4,and 5 above are not subject to recoupment by the Adviser.
7. The Adviser understands and intends that the Funds will rely on this Agreement (1) in preparing and filing amendments to the registration statements for the Companies on Form N-1A with the Securities and Exchange Commission, (2) in accruing each Fund’s expenses for purposes of calculating its net asset value per share and (3) for certain other purposes and expressly permits the Funds to do so.
8. This Agreement shall renew automatically for one-year terms unless the Adviser provides written notice of termination prior to the start of such term.
9. This Agreement may be amended or modified by mutual consent of the Adviser and the Board of Directors of the respective Company at any time prior to the expiration date of the Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
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THE HARTFORD MUTUAL FUNDS, INC. |
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THE HARTFORD MUTUAL FUNDS II, INC. |
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HARTFORD FUNDS MANAGEMENT COMPANY, LLC |
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SCHEDULE A
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Fund |
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Total Net Annual |
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The Hartford Balanced Fund |
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Class A: 1.18% Class R3: 1.40% Class R4: 1.10% Class R5: 0.80% |
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The Hartford Balanced Income Fund |
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Class A: 0.99% Class B: 1.74% Class C: 1.74% Class I: 0.74% Class R3: 1.24% Class R4: 0.94% Class R5: 0.69% Class Y: 0.64% |
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The Hartford Capital Appreciation Fund |
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Class A: 1.29% Class I: 1.04% Class R3: 1.40% Class R4: 1.10% Class R5: 0.80% |
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The Hartford Capital Appreciation II Fund |
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Class A: 1.25% Class B: 2.00% Class C: 2.00% Class I: 1.00% Class R3: 1.35% Class R4: 1.05% Class R5: 0.95% Class Y: 0.90% |
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The Hartford Disciplined Equity Fund |
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Class A: 1.35% Class B: 2.10% Class C: 2.10% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class Y: 0.85% |
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The Hartford Diversified International Fund |
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Class A: 1.45% Class B: 2.20% Class C: 2.20% Class I: 1.20% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% Class Y: 1.00% |
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The Hartford Dividend and Growth Fund |
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Class A: 1.25% Class I: 1.00% Class R3: 1.35% Class R4: 1.05% Class R5: 0.75% |
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The Hartford Equity Income Fund |
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Class A: 1.25% Class B: 2.00% Class C: 2.00% Class I: 1.00% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class Y: 0.85% |
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The Hartford Floating Rate Fund |
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Class A: 1.00%(1) Class B: 1.75%(1) Class C: 1.75%(1) Class I: 0.75%(1) Class R3: 1.25%(1) Class R4: 1.00%(1) Class R5: 0.70%(2) Class Y: 0.70%(2) |
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The Hartford Floating Rate High Income Fund |
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Class A: 1.05% Class C: 1.80% Class I: 0.80% Class R3: 1.35% Class R4: 1.05% Class R5: 0.75% Class Y: 0.75% |
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The Hartford Global All-Asset Fund |
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Class A: 1.25% Class C: 2.00% Class I: 1.00% Class R3: 1.50% Class R4: 1.20% Class R5: 0.95% Class Y: 0.90% |
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The Hartford Global Growth Fund |
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Class A: 1.48% Class B: 2.23% Class C: 2.23% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% |
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The Hartford Global Real Asset Fund |
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Class A: 1.35% Class C: 2.10% Class I: 1.10% Class R3: 1.60% Class R4: 1.30% Class R5: 1.05% Class Y: 1.00% |
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The Hartford Global Research Fund |
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Class A: 1.45% Class B: 2.20% Class C: 2.20% Class I: 1.20% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% Class Y: 1.00% |
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The Hartford Growth Fund |
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Class A: 1.30%(3) Class B: 2.05%(3) Class C: 2.05%(3) |
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Class I: 1.05%(3) Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class Y: 0.85% |
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The Hartford Growth Opportunities Fund |
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Class A: 1.36%(4) Class B: 2.11%(4) Class C: 2.11%(4) Class I: 1.11%(4) Class R3: 1.45% Class R4: 1.15% Class R5: 0.85% Class Y: 0.85% |
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The Hartford Healthcare Fund |
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Class A: 1.60% Class B: 2.35% Class C: 2.35% Class I: 1.35% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% Class Y: 1.00% |
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The Hartford High Yield Fund |
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Class A: 1.05% Class B: 1.80% Class C: 1.80% Class I: 0.80% Class R3: 1.35% Class R4: 1.05% Class R5: 0.75% Class Y: 0.70% |
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The Hartford Inflation Plus Fund |
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Class A: 0.85%(5) Class B: 1.60%(5) Class C: 1.60%(5) Class I: 0.60%(5) Class R3: 1.20%(5) Class R4: 0.90%(5) Class R5: 0.60%(5) Class Y: 0.55%(5) |
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The Hartford International Growth Fund |
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Class A: 1.55% Class B: 2.30% Class C: 2.30% Class I: 1.30% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% |
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The Hartford International Opportunities Fund |
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Class A: 1.30% Class B: 2.05% Class C: 2.05% Class I: 1.05% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class Y: 0.85% |
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The Hartford International Small Company Fund |
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Class A: 1.60% Class B: 2.35% |
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Class C: 2.35% Class I: 1.35% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% Class Y: 1.00% |
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The Hartford International Value Fund |
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Class A: 1.40% Class C: 2.15% Class I: 1.15% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% |
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The Hartford MidCap Fund |
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Class A: 1.37% Class I: 1.12% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% |
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The Hartford MidCap Value Fund |
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Class A: 1.35% Class B: 2.10% Class C: 2.10% Class I: 1.10% Class R3: 1.55% Class R4: 1.25% Class R5: 0.95% Class Y: 0.90% |
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The Hartford Money Market Fund |
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Class A: 0.85%(6) Class B: 1.60%(6) Class C: 1.60%(6) Class R3: 1.15%(6) Class R4: 0.85%(6) Class R5: 0.60%(6) Class Y: 0.55%(6) |
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The Hartford Municipal Opportunities Fund |
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Class A: 0.90% Class B: 1.65% Class C: 1.65% Class I: 0.65% |
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The Hartford Municipal Real Return Fund |
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Class A: 0.85%(7) Class B: 1.60%(7) Class C: 1.60%(7) Class I: 0.60%(7) Class Y: 0.60%(7) |
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The Hartford Short Duration Fund |
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Class A: 0.85%(8) Class B: 1.60%(8) Class C: 1.60%(8) Class I: 0.60%(8) Class R3: 1.15%(8) Class R4: 0.85%(8) Class R5: 0.55%(8) Class Y: 0.55%(8) |
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The Hartford Small Company Fund |
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Class A: 1.40% Class B: 2.15% Class C: 2.15% Class I: 1.15% Class R3: 1.55% Class R4: 1.25% Class R5: 0.95% Class Y: 0.90% |
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The Hartford SmallCap Growth Fund |
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Class A: 1.40% Class B: 2.15% Class C: 2.15% Class I: 1.15% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% |
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The Hartford Small/Mid Cap Equity Fund |
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Class A: 1.30% Class B: 2.05% Class C: 2.05% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class Y: 0.85% |
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The Hartford Strategic Income Fund |
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Class A: 0.95% Class B: 1.70% Class C: 1.70% Class I: 0.70% Class R3: 1.25% Class R4: 0.95% Class R5: 0.65% Class Y: 0.60% |
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The Hartford Total Return Bond Fund |
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Class A: 0.95%(9) Class B: 1.70%(9) Class C: 1.70%(9) Class I: 0.70%(9) Class R3: 1.25%(9) Class R4: 0.95%(9) Class R5: 0.65%(9) Class Y: 0.60%(9) |
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The Hartford Unconstrained Bond Fund (formerly The Hartford Corporate Opportunities Fund) |
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Class A: 0.99% Class B: 1.74% Class C: 1.74% Class I: 0.74% Class R3: 1.29% Class R4: 0.99% Class R5: 0.69% Class Y: 0.69% |
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The Hartford Value Fund |
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Class A: 1.25%(10) Class B: 2.00%(10) Class C: 2.00%(10) Class I: 1.00%(10) Class R3: 1.45%(10) Class R4: 1.15%(10) Class R5: 0.85%(10) Class Y: 0.80%(10) |
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The Hartford Value Opportunities Fund |
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Class A: 1.35% Class B: 2.10% Class C: 2.10% Class I: 1.10% Class R3: 1.55% Class R4: 1.25% Class R5: 0.95% Class Y: 0.90% |
(1) The expense cap figure noted in the table above is permanent.
(2) For Class R5 and Class Y shares of The Hartford Floating Rate Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class R5 and Class Y Shares of The Hartford Floating Rate Fund are also subject to a permanent expense cap of 0.85% and 0.75%, respectively.
(3) For Class A, Class B, Class C and Class I shares of The Hartford Growth Fund, the Adviser, through February 28, 2014, has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 1.25% (Class A), 2.00% (Class B), 2.00% (Class C)and 1.00 (Class I).
(4) For Class A, Class B, Class C and Class I shares of The Hartford Growth Opportunities Fund, the Adviser, through February 28, 2014, has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 1.21% (Class A), 1.96% (Class B), 1.96% (Class C)and 0.96 (Class I).
(5) For Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Inflation Plus Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y Shares of The Hartford Inflation Plus Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75%, 0.75%, 1.25%, 1.00%, 0.85% and 0.75%, respectively.
(6) For Class A, Class B, Class C, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Money Market Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class A, Class B, Class C, Class R3, Class R4,
Class R5 and Class Y Shares of The Hartford Money Market Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75%, 1.25%, 1.00%, 0.85% and 0.75%, respectively.
(7) For Class A, Class B, Class C, Class I, and Class Y shares of The Hartford Municipal Real Return Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class A, Class B, Class C, Class I and Class Y Shares of The Hartford Municipal Real Return Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75%, 0.75%, and 0.75%, respectively.
(8) For Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Short Duration Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class A, Class B, Class C, Class I and Class Y Shares of The Hartford Short Duration Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75%, 0.75% and 0.75%, respectively.
(9) For Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Total Return Bond Fund, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual fund operating expenses at the levels noted in the table above. Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y Shares of The Hartford Total Return Bond Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75%, 0.75%, 1.25%, 1.00%, 0.85% and 0.75%, respectively. The expense cap figure noted in the table above is permanent.
(10) For The Hartford Value Fund, the Adviser, through February 28, 2014, has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 1.15% (Class A), 1.90% (Class B), 1.90% (Class C), 0.90% (Class I), 1.35% (Class R3), 1.05% (Class R4), 0.80% (Class R5) and 0.75% (Class Y).
SCHEDULE B
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Fund |
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Total Net Annual |
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The Hartford Balanced Allocation Fund |
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Class A: 1.40% Class B: 2.15% Class C: 2.15% Class I: 1.15% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% |
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The Hartford Checks and Balances Fund |
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Class A: 1.25% Class B: 2.00% Class C: 2.00% Class I: 1.00% Class R3: 1.40% Class R4: 1.10% Class R5: 0.80% |
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The Hartford Conservative Allocation Fund |
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Class A: 1.35% Class B: 2.10% Class C: 2.10% Class I: 1.10% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% |
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The Hartford Growth Allocation Fund |
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Class A: 1.50% Class B: 2.25% Class C: 2.25% Class I: 1.25% Class R3: 1.70% Class R4: 1.40% Class R5: 1.10% |
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The Hartford Target Retirement 2010 Fund |
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Class A: 1.00% Class R3: 1.30% Class R4: 1.00% Class R5: 0.80% Class Y: 0.80% |
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The Hartford Target Retirement 2015 Fund |
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Class R3: 1.30% Class R4: 1.00% Class R5: 0.80% Class Y: 0.80% |
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The Hartford Target Retirement 2020 Fund |
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Class A: 1.05% Class R3: 1.35% Class R4: 1.05% Class R5: 0.85% Class Y: 0.85% |
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The Hartford Target Retirement 2025 Fund |
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Class R3: 1.35% Class R4: 1.05% Class R5: 0.85% Class Y: 0.85% |
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The Hartford Target Retirement 2030 Fund |
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Class A: 1.05% Class R3: 1.35% Class R4: 1.05% Class R5: 0.85% |
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Class Y: 0.85% |
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The Hartford Target Retirement 2035 Fund |
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Class R3: 1.35% Class R4: 1.05% Class R5: 0.85% Class Y: 0.85% |
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The Hartford Target Retirement 2040 Fund |
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Class R3: 1.35% Class R4: 1.05% Class R5: 0.85% Class Y: 0.85% |
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The Hartford Target Retirement 2045 Fund |
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Class R3: 1.40% Class R4: 1.10% Class R5: 0.90% Class Y: 0.90% |
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The Hartford Target Retirement 2050 Fund |
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Class R3: 1.40% Class R4: 1.10% Class R5: 0.90% Class Y: 0.90% |
SCHEDULE C
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Fund |
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Total Net Annual |
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The Hartford Emerging Markets Local Debt Fund(1) |
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Class A: 1.35% Class C: 2.10% Class I: 1.10% Class R3: 1.65% Class R4: 1.35% Class R5: 1.05% Class Y: 1.00% |
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The Hartford Emerging Markets Research Fund(2) |
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Class A: 1.75% Class C: 2.50% Class I: 1.50% Class R3: 1.95% Class R4: 1.65% Class R5: 1.35% Class Y: 1.30% |
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The Hartford World Bond Fund(3) |
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Class A: 1.05% Class C: 1.80% Class I: 0.80% Class R3: 1.35% Class R4: 1.05% Class R5: 0.75% Class Y: 0.70% |
(1) For The Hartford Emerging Markets Local Debt Fund, the Adviser has entered into an agreement with the Fund pursuant to which 0.10% of the management fee will be waived until February 28, 2014. While such waiver is in effect, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 1.25% (Class A), 2.00% (Class C), 1.00% (Class I), 1.55% (Class R3), 1.25% (Class R4), 0.95% (Class R5) and 0.90% (Class Y).
(2) For The Hartford Emerging Markets Research Fund, the Adviser has entered into an agreement with the Fund pursuant to which 0.10% of the management fee will be waived until February 28, 2014. While such waiver is in effect, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 1.65% (Class A), 2.40% (Class C), 1.40% (Class I), 1.85% (Class R3), 1.55% (Class R4), 1.25% (Class R5) and 1.20% (Class Y).
(3) For The Hartford World Bond Fund, the Adviser has entered into an agreement with the Fund pursuant to which 0.10% of the management fee will be waived until February 28, 2014. While such waiver is in effect, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 0.95% (Class A), 1.70% (Class C), 0.70% (Class I), 1.25% (Class R3), 0.95% (Class R4), 0.65% (Class R5) and 0.60% (Class Y).
SCHEDULE D
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Fund |
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Total Net Annual |
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The Hartford Quality Bond Fund (1) |
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Class A: 0.95% Class C: 1.70% Class I: 0.70% Class R3: 1.25% Class R4: 0.95% Class R5: 0.65% Class Y: 0.60% |
(1) For The Hartford Quality Bond Fund, the Adviser has entered into an agreement with the Fund pursuant to which 0.05% of the management fee will be waived until February 28, 2014. While such waiver is in effect, the Adviser has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary expenses) to the extent necessary to maintain total annual operating expenses as follows: 0.90% (Class A), 1.65% (Class C), 0.65% (Class I), 1.20% (Class R3), 0.90% (Class R4), 0.60% (Class R5) and 0.55% (Class Y).
SCHEDULE E
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Fund |
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Total Net Annual |
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The Hartford Global Alpha Fund |
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Class A: 1.55% Class C: 2.30% Class I: 1.30% Class R3: 1.85% Class R4: 1.55% Class R5: 1.25% Class Y: 1.20% |
