NU Online News Service, July 9, 2004, 3:45 p.m. EDT

Hartford Financial Services Group Inc., Hartford, is joining the rush to set up asset-allocation programs for mutual fund investors.[@@]

The company has introduced The Hartford Allocation Funds, a family of 5 asset-allocation “funds of funds” managed with help from Ibbotson Associates, Chicago.

The managers will rebalance the funds every quarter to keep each fund true to its investment objective.

Hartford made another asset-allocation program, the Portfolio Planner program, available to its variable annuity customers in November 2003.

Hartford now manages $22 billion in mutual fund assets.