AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
Exhibit h.(iv).a
AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT
THIS AMENDED AND RESTATED EXPENSE LIMITATION AGREEMENT, as amended and restated on February 29, 2016, 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 February 29, 2016 through February 28, 2017, 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 A.
2. For the period commencing February 29, 2016 through February 28, 2017, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses, 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 February 29, 2016 through February 28, 2017, 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 February 29, 2016 through February 28, 2017, 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 D.
5. For the period commencing February 29, 2016 through February 28, 2017, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses on short sales 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. For the period commencing February 29, 2016 through February 28, 2017, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses,
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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 F.
7. For the period commencing February 29, 2016 through February 28, 2017, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses on short sales 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 G.
8. For the period commencing May 29, 2015 through February 28, 2017, 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 H.
9. For the period commencing August 13, 2015 through February 28, 2017, 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 I.
10. For the period commencing November 1, 2015 through February 28, 2017, the Adviser hereby agrees to reimburse Fund expenses, exclusive of taxes, interest expenses, 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 J.
11. For the period commencing November 1, 2015 through February 28, 2017, 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 K.
12. The reimbursement described in Sections 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11 above are not subject to recoupment by the Adviser.
13. 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.
14. This Agreement shall renew automatically for one-year terms unless the Adviser provides written notice of termination prior to the start of such term.
15. 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.
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16. This Agreement may be executed by the parties hereto on any number of counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
| THE HARTFORD MUTUAL FUNDS, INC. | ||
| Name: | /s/ Xxxxx X. Xxxxx | |
| Xxxxx X. Xxxxx | ||
| Title: | Vice President | |
| THE HARTFORD MUTUAL FUNDS II, INC. | ||
| Name: | /s/ Xxxxx X. Xxxxx | |
| Xxxxx X. Xxxxx | ||
| Title: | Vice President | |
| HARTFORD FUNDS MANAGEMENT COMPANY, LLC | ||
| Name: | /s/ Xxxxxxx X. Xxxxx | |
| Xxxxxxx X. Xxxxx | ||
| Title: | Chief Financial Officer | |
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SCHEDULE A
| Fund | Total
Net Annual (as
a percent of average | |
| The Hartford Balanced Fund |
Class A: 1.18% Class I: 0.93% Class R3: 1.40% Class R4: 1.10% Class R5: 0.80% | |
| Hartford Core Equity Fund (formerly known as The Hartford Disciplined Equity Fund) |
Class A: 0.79% Class B: 1.54% Class C: 1.54% Class I: 0.54% Class R3: 1.09% Class R4: 0.79% Class R5: 0.49% Class R6: 0.45% Class Y: 0.49% | |
| The Hartford Emerging Markets Local Debt Fund |
Class A: 1.35%7 Class C: 2.10%7 Class I: 1.10%7 Class R3: 1.65%7 Class R4: 1.35%7 Class R5: 1.05%7 Class Y: 1.00%7 | |
| Hartford Emerging Markets Equity Fund (formerly known as The Harford Emerging Markets Research Fund) |
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% | |
| Hartford Environmental Opportunities Fund |
Class A: 1.30% Class C: 2.05% Class I: 1.05% Class Y: 0.90% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class R6: 0.90% | |
| The Hartford Floating Rate Fund |
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 | |
| The Hartford Floating Rate High Income Fund |
Class A: 1.05% Class C: 1.80% Class I: 0.80% Class R3: 1.35% |
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|
Class R4: 1.05% Class R5: 0.75% Class Y: 0.75% | ||
| The Hartford Global Alpha Fund |
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% | |
| Hartford Global Capital Appreciation Fund (formerly known as The Hartford Capital Appreciation II Fund) |
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% | |
| The Hartford Healthcare Fund |
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% | |
| The Hartford High Yield Fund |
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% | |
| The Hartford Inflation Plus Fund |
Class A: 0.85%3 Class B: 1.60%3 Class C: 1.60%3 Class I: 0.60%3 Class R3: 1.20%3 Class R4: 0.90%3 Class R5: 0.60%3 Class Y: 0.55%3 | |
| The Hartford International Small Company Fund |
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% | |
| The Hartford International Value Fund |
Class A: 1.40% Class C: 2.15% Class I: 1.15% Class R3: 1.60% |
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|
Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% | ||
| The Hartford MidCap Value Fund |
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% | |
| The Hartford Municipal Opportunities Fund |
Class A: 0.69% Class B: 1.44% Class C: 1.44% Class I: 0.44% | |
| The Hartford Municipal Real Return Fund |
Class A: 0.69%4 Class B: 1.44%4 Class C: 1.44%4 Class I: 0.44%4 Class Y: 0.44%4 | |
| The Hartford Quality Bond Fund |
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% | |
| Hartford Real Total Return Fund |
Class A: 1.70% Class C: 2.45% Class I: 1.45% Class R3: 2.00% Class R4: 1.70% Class R5: 1.40% Class Y: 1.30% | |
| The Hartford Short Duration Fund |
Class A: 0.85%5 Class B: 1.60%5 Class C: 1.60%5 Class I: 0.60%5 Class R3: 1.15% Class R4: 0.85% Class R5: 0.55% Class Y: 0.55%5 | |
| Hartford Small Cap Core Fund (formerly known as The Hartford Small/Mid Cap Equity Fund) |
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% | |
| The Hartford Unconstrained Bond Fund |
Class A: 0.99%6 Class B: 1.74%6 Class C: 1.74%6 |
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|
Class I: 0.74% Class R3: 1.29% Class R4: 0.99% Class R5: 0.69% Class Y: 0.69%6 | ||
| The Hartford Value Opportunities Fund |
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, 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.
4 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.
5 For Class A, Class B, Class C, Class I 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.
6 For Class A, Class B, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Unconstrained 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 and Class Y Shares of The Hartford Unconstrained Bond Fund are also subject to a permanent expense cap of 1.00%, 1.75%, 1.75% and 0.75%, respectively.
7 For Class A, Class C, Class I, Class R3, Class R4, Class R5 and Class Y shares of The Hartford Emerging Markets Local Debt Fund, the Adviser, through February 28, 2017, has contractually agreed to reimburse expenses (exclusive of taxes, interest expense, brokerage commissions, acquired fund fees and expenses and extraordinary
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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).
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SCHEDULE B
| Fund | Total
Net Annual (as
a percent of average | |
| The Hartford Checks and Balances Fund |
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% | |
| Hartford Duration-Hedged Strategic Income Fund |
Class A: 1.15% Class C: 1.90% Class I: 0.90% Class R3: 1.45% Class R4: 1.15% Class R5: 0.85% Class Y: 0.75% | |
| The Hartford Growth Allocation Fund |
Class A: 1.50%1 Class B: 2.25%1 Class C: 2.25%1 Class I: 1.25%1 Class R3: 1.70%1 Class R4: 1.40%1 Class R5: 1.10%1 | |
| Hartford Moderate Allocation Fund (formerly known as The Hartford Balanced Allocation Fund) |
Class A: 1.40%1 Class B: 2.15%1 Class C: 2.15%1 Class I: 1.15%1 Class R3: 1.65%1 Class R4: 1.35%1 Class R5: 1.05%1 |
1 This expense reimbursement is extended through February 28, 2017 per approval by the Board of Directors of The Hartford Mutual Funds, Inc. at the August 4-5, 2015 meeting.
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SCHEDULE C
| Fund | Total Net Annual Operating Expense Limit (as a percent of average daily net assets) | |
| Hartford Multi-Asset Income Fund |
Class A: 1.12% Class C: 1.87% Class I: 0.87% Class R3: 1.42% Class R4: 1.12% Class R5: 0.93% Class Y: 0.83% |
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SCHEDULE D
| Fund | Total Net Annual Operating Expense Limit (as a percent of average daily net assets) | |
| Hartford Global Equity Income Fund (formerly known as The Hartford Global Research Fund) |
Class A: 1.25% Class B: 2.00% Class C: 2.00% Class I: 1.00% Class R3: 1.45% Class R4: 1.15% Class R5: 0.85% Class Y: 0.80% |
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SCHEDULE E
| Fund | Total Net Annual Operating Expense Limit (as a percent of average daily net assets) | |
| Hartford Long/Short Global Equity Fund |
Class A: 1.90% Class C: 2.65% Class I: 1.65% Class Y: 1.50% |
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SCHEDULE F
| Fund | Total
Net Annual (as
a percent of average | |
|
The Hartford Balanced Income Fund
|
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 R6: 0.64% Class Y: 0.64% | |
| The Hartford Capital Appreciation Fund |
Class A: 1.29% Class I: 1.04% Class R3: 1.40% Class R4: 1.10% Class R5: 0.80% Class R6: 0.75% | |
| The Hartford Dividend and Growth Fund |
Class A: 1.25% Class I: 1.00% Class R3: 1.35% Class R4: 1.05% Class R5: 0.75% Class R6: 0.70% | |
| The Hartford Equity Income Fund |
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 R6: 0.85% Class Y: 0.85% | |
| The Hartford Growth Opportunities Fund |
Class A: 1.36%1 Class B: 2.11%1 Class C: 2.11%1 Class I: 1.11%1 Class R3: 1.45%1 Class R4: 1.15%1 Class R5: 0.85%1 Class R6: 0.85%1 Class Y: 0.85%1 |
| The Hartford International Opportunities Fund |
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 R6: 0.85% Class Y: 0.85% |
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| The Hartford MidCap Fund |
Class A: 1.37% Class I: 1.12% Class R3: 1.50% Class R4: 1.20% Class R5: 0.90% Class R6: 0.85% | |
| The Hartford Small Company Fund |
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 R6: 0.90% Class Y: 0.90% | |
| The Hartford SmallCap Growth Fund (effective March 1, 2016, name change to The Hartford Small Cap Growth Fund) |
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 R6: 0.95% Class Y: 0.95% | |
| The Hartford Strategic Income Fund |
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 R6: 0.60% Class Y: 0.60% | |
| The Hartford Total Return Bond Fund |
Class A: 0.87%1 Class B: 1.62%1 Class C: 1.62%1 Class I: 0.62%1 Class R3: 1.17%1 Class R4: 0.87%1 Class R5: 0.57%1 Class R6: 0.52% Class Y: 0.52%1 | |
| The Hartford World Bond Fund |
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 R6: 0.70% Class Y: 0.70% |
1 The Adviser has permanently 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 as follows 1.00% (Class A), 1.75% (Class B), 1.75% (Class C), 0.75% (Class I), 1.25% (Class R3), 1.00% (Class R4), 0.85% (Class R5) and 0.75% (Class Y).
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SCHEDULE G
| Fund | Total
Net Annual (as
a percent of average | |
| The Hartford Global All-Asset Fund |
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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SCHEDULE H
| Fund | Total
Net Annual (as
a percent of average | |
| Hartford Municipal Income Fund |
Class A: 0.69% Class C: 1.44% Class I: 0.44% | |
| Hartford Municipal Short Duration Fund |
Class A: 0.69% Class C: 1.44% Class I: 0.44% |
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SCHEDULE I
| Hartford International Capital Appreciation1 (formerly known as The Hartford Diversified International Fund) |
Class A: 1.19% Class B: 1.94% Class C: 1.94% Class I: 0.89% Class R3: 1.49% Class R4: 1.19% Class R5: 0.89% Class Y: 0.79% | |
| The Hartford International Growth Fund |
Class A: 1.30% Class B: 2.05% Class C: 2.05% Class I: 1.00% Class R3: 1.60% Class R4: 1.30% Class R5: 1.00% Class Y: 0.95% |
1 Fund to be renamed Hartford International Equity Fund effective September 30, 2015
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SCHEDULE J
| Fund | Total
Net Annual (as
a percent of average | |
| The Hartford Conservative Allocation Fund |
Class A: 1.19% Class B: 1.94% Class C: 1.94% Class I: 0.94% Class R3: 1.44% Class R4: 1.14% Class R5: 0.84% |
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SCHEDULE K
| Fund | Total
Net Annual (as
a percent of average | |
| The Hartford Global Real Asset Fund |
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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