What Is the Hartford Capital Appreciation Fund’s Retail Exposure?


Nov. 23 2015, Updated 11:07 a.m. ET

YTD performance

The Hartford Capital Appreciation Fund-Class A (ITHAX) returned 2.9% for the YTD (year-to-date) period ending November 19, 2015. Meanwhile, its benchmark, the Russell 3000, rose 0.5% in the same period. The S&P Retail Select Index, which can be considered a proxy for the US retail sector, fell 9.8% for the YTD period ending November 19, 2015. As of September 2015, the ITHAX had 22.7% of the fund’s net assets invested in the consumer discretionary and the consumer staples sectors combined.

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Auto industry’s sales growth

For the month of October, TrueCar estimated an increase in motor vehicle revenue by 11.4% as compared to a year ago. However, according to reports by the Department of Commerce, US auto sales rose by only 6.2% in October as compared to a year ago. The TrueCar report also forecast total auto revenue to reach close to $1.2 trillion for the year, but with the October forecast lower than expected, we might see auto revenue miss this $1.2 trillion estimate also. Higher demand in motor vehicles is due to a lower interest rate and falling fuel prices.

ITHAX’s holdings in auto stocks

As of September 2015, ITHAX’s auto stock holdings included Volkswagen (VLKAY), which makes up 0.2% of the fund’s portfolio, Honda Motor Company (HMC) with a portfolio weight of 0.1%, Harley-Davidson (HOG) with a portfolio weight of 0.1%, and Fiat Chrysler Automobiles (FCAU) with a portfolio weight of 0.6%.


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