The Hartford 2014 Annual Report Download - page 82
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Year ended December 31, 2014 compared to the year ended December 31, 2013
Net income, as compared to the prior year period, increased in 2014 primarily due to higher fee revenue driven by higher Mutual Fund average AUM. AUM
increased reflecting positive market performance of the Mutual Fund assets throughout the year coupled with year over year improvements in net flows offset
by expected runoff of Talcott assets. Redemptions in 2014 included fund liquidations of $0.7 billion and a transfer of HVIT assets within the Hartford of $2.7
billion.
Year ended December 31, 2013 compared to the year ended December 31, 2012
Net income, as compared to the prior year period, increased in 2013 primarily due to higher fee revenue driven by higher Mutual Fund average AUM and
partially offset by increased sales related expenses. AUM increased reflecting positive market performance of the Mutual Fund assets throughout the year
offset by expected runoff of Talcott assets. Redemptions in 2013 included a portfolio rebalance at a key distributor and an institutional redemption, together
totaling $2.5 billion.
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