The Hartford 2015 Annual Report Download - page 84
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84
Year ended December 31, 2015 compared to the year ended December 31, 2014
Net income decreased in 2015, compared to the prior year period which included a one time state tax benefit, primarily due to a
combination of lower average AUM and higher spending on marketing initiatives. Total AUM declined reflecting market depreciation
and the continued runoff of Talcott AUM. Mutual fund AUM increased by 2% reflecting higher sales and stable redemption.
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.