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Summary
- Geopolitics, trade policy, and monetary signals dominated markets during the third quarter.
- Equities led performance for the quarter, with US large caps ahead of developed international markets, while emerging markets outpaced both.
- Hartford Conservative Allocation Fund (I Share) underperformed its benchmark during the period.
- Global policy easing supports risk assets, yet the margin for error is tight given high valuatio…
Summary
- Geopolitics, trade policy, and monetary signals dominated markets during the third quarter.
- Equities led performance for the quarter, with US large caps ahead of developed international markets, while emerging markets outpaced both.
- Hartford Conservative Allocation Fund (I Share) underperformed its benchmark during the period.
- Global policy easing supports risk assets, yet the margin for error is tight given high valuations and persistent macro risks.
- We remain constructive on equities, with US stocks regaining leadership as AI-driven earnings growth continues.
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Market Overview
Geopolitics, trade policy, and monetary signals dominated markets during the third quarter. NATO’s warning to Russia over airspace violations kept geopolitical risk elevated, while US government shutdown threats added domestic uncertainty. Trade policy developments were mixed: new tariffs on
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Quick Insights
Underperformance was primarily due to Hartford Core Equity Fund, Hartford Large Cap Growth ETF, and Hartford International Opportunities Fund lagging their respective benchmarks.
The fund increased allocations to Hartford Core Equity Fund and Hartford World Bond Fund, reduced Core Bond ETF and Inflation Plus Fund exposure, and removed its underweight in emerging markets.
The portfolio prefers high-quality investment-grade credit and short-term Treasuries, seeking resilience and attractive carry as long-term US bonds face upward rate pressure.