<PAGE>
ITT HARTFORD MUTUAL FUNDS, INC.
Supplement dated September 23, 1996
to the Prospectus dated July 22, 1996
Among other changes, this supplement is intended to update the investment
performance related to the six mutual funds sponsored by ITT Hartford Group,
Inc. (the "Insurance Funds") which served as models for six of the ITT Hartford
Mutual Funds, Inc. The Insurance Funds are offered in connection with variable
insurance products issued by ITT Hartford. The performance shown below is not
the actual performance of the Funds offered by this prospectus and is only
intended to show the Adviser's track record when managing comparable mutual
funds. While the Funds offered by this prospectus are intended to be managed in
substantially the same manner as the Insurance Funds, the performance figures
shown below are not necessarily indicative of future performance and are not
intended as a projection or forecast of such future performance. For additional
information on the past performance of the Insurance Funds please see pages
13-15 in the prospectus.
The Prospectus is amended as follows:
ALL INFORMATION PROVIDED ON PAGE 14 AND THE TWO TABLES PROVIDED ON PAGE 15 ARE
DELETED AND THE FOLLOWING INSERTED:
The table below sets forth each Fund, and its corresponding Insurance Fund, its
inception date and asset size as of June 30, 1996:
<TABLE>
<CAPTION>
CORRESPONDING INSURANCE FUND
FUND (INCEPTION DATE AND ASSET SIZE)
- ------------------------------- ------------------------------------------------------------------------------
<S> <C> <C>
Capital Appreciation Hartford Capital Appreciation Fund, Inc.
(April 2, 1984)
$2,807,935,862
International Opportunities Hartford International Opportunities Fund, Inc.
(July 2, 1990)
$882,781,188
Stock Hartford Stock Fund, Inc.
(August 31, 1977)
$2,426,542,263
Dividend and Growth Hartford Dividend and Growth Fund, Inc.
(March 8, 1994)
$554,097,047
Advisers Hartford Advisers Fund, Inc.
(March 31, 1983)
$5,045,682,666
Money Market HVA Money Market Fund, Inc.
(June 30, 1980)
$440,991,030
</TABLE>
The following four tables show the average annualized total returns for the
Insurance Funds for the one, three, five and ten year (or life of the Insurance
Fund, if shorter) periods ended June 30, 1996. These figures are based on the
actual gross investment performance of the Insurance Funds. From the gross
investment performance figures, the maximum Total Fund Operating Expenses
reflected in the fee table on page 3 are deducted to arrive at the net return.
The first table for each Class shown reflects a deduction for the maximum
applicable sales charge, while the second table for each Class shown reflects no
deduction for sales charges. Performance figures will be lower when sales
charges are taken into effect.
HV-2047
<PAGE>
ASSUMING CLASS A SHARE TOTAL FUND OPERATING EXPENSES AND THE MAXIMUM INITIAL
SALES LOAD APPLICABLE TO CLASS A SHARES.
<TABLE>
<CAPTION>
10 YEARS
OR
INSURANCE FUND SINCE
(INCEPTION DATE) 1 YEAR 3 YEARS 5 YEARS INCEPTION
- ------------------------------------------------------------------------ --------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Hartford Capital Appreciation Fund, Inc.
(April 2, 1984) 14.49% 14.15% 18.71% 13.20%
Hartford International Opportunities Fund, Inc.
(July 2, 1990) 11.07% 10.62% 9.34% 5.72%
Hartford Stock Fund, Inc.
(August 31, 1977) 18.59% 13.91% 12.70% 11.29%
Hartford Dividend and Growth Fund, Inc.
(March 8, 1994) 22.08% N/A N/A 16.84%
Hartford Advisers Fund, Inc.
(March 31, 1983) 10.97% 9.55% 10.14% 10.05%
HVA Money Market Fund, Inc.
(June 30, 1980) 4.93% 4.08% 3.83% 5.42%
</TABLE>
ASSUMING CLASS A SHARE TOTAL FUND OPERATING EXPENSES WITH NO INITIAL SALES LOAD1
<TABLE>
<CAPTION>
10 YEARS
OR
INSURANCE FUND SINCE
(INCEPTION DATE) 1 YEAR 3 YEARS 5 YEARS INCEPTION
- ------------------------------------------------------------------------ --------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Hartford Capital Appreciation Fund, Inc.
(April 2, 1984) 21.16% 16.32% 20.06% 13.85%
Hartford International Opportunities Fund, Inc.
(July 2, 1990) 17.54% 12.73% 10.58% 6.73%
Hartford Stock Fund, Inc.
(August 31, 1977) 25.49% 16.07% 13.98% 11.93%
Hartford Dividend and Growth Fund, Inc.
(March 8, 1994) 29.19% N/A N/A 19.73%
Hartford Advisers Fund, Inc.
(March 31, 1983) 17.43% 11.64% 11.39% 10.67%
HVA Money Market Fund, Inc.
(June 30, 1980) 4.93% 4.08% 3.83% 5.42%
</TABLE>
- ------------------------
1 Certain persons may purchase Class A Shares that are not subject to the Class
A Initial Sales Charge (see "Waiver of Class A Initial Sales Charge" in this
Prospectus) and certain other persons may purchase Class A Shares subject to
less than the maximum Initial Sales Charge (see "Reduced Sales Charges for Class
A Share Purchases" in this Prospectus).
ASSUMING CLASS B SHARE TOTAL FUND OPERATING EXPENSES AND REDEMPTION AT THE END
OF THE APPLICABLE TIME PERIOD.
<TABLE>
<CAPTION>
10 YEARS
OR
INSURANCE FUND SINCE
(INCEPTION DATE) 1 YEAR 3 YEARS 5 YEARS INCEPTION
- ------------------------------------------------------------------------ --------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Hartford Capital Appreciation Fund, Inc.
(April 2, 1984) 15.33% 14.76% 19.03% 13.06%
Hartford International Opportunities Fund, Inc.
(July 2, 1990) 11.73% 11.14% 9.54% 5.86%
Hartford Stock Fund, Inc.
(August 31, 1977) 19.63% 14.52% 12.95% 11.15%
Hartford Dividend and Growth Fund, Inc.
(March 8, 1994) 23.30% N/A N/A 17.86%
Hartford Advisers Fund, Inc.
(March 31, 1983) 11.62% 10.04% 10.36% 9.91%
HVA Money Market Fund, Inc.
(June 30, 1980) N/A N/A N/A N/A
</TABLE>
<PAGE>
ASSUMING CLASS B SHARE TOTAL FUND OPERATING EXPENSES AND NO REDEMPTION AT THE
END OF THE APPLICABLE TIME PERIOD.
<TABLE>
<CAPTION>
10 YEARS
OR
INSURANCE FUND SINCE
(INCEPTION DATE) 1 YEAR 3 YEARS 5 YEARS INCEPTION
- ------------------------------------------------------------------------ --------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
Hartford Capital Appreciation Fund, Inc.
(April 2, 1984) 20.33% 15.52% 19.23% 13.06%
Hartford International Opportunities Fund, Inc.
(July 2, 1990) 16.73% 11.95% 9.82% 5.98%
Hartford Stock Fund, Inc.
(August 31, 1977) 24.63% 15.27% 13.19% 11.15%
Hartford Dividend and Growth Fund, Inc.
(March 8, 1994) 28.30% N/A N/A 18.90%
Hartford Advisers Fund, Inc.
(March 31, 1983) 16.62% 10.86% 10.62% 9.91%
HVA Money Market Fund, Inc.
(June 30, 1980) N/A N/A N/A N/A
</TABLE>
THE THIRD FULL PARAGRAPH ON PAGE 16 IS DELETED AND THE FOLLOWING PARAGRAPH
INSERTED:
Your initial purchase amount for each Fund must be at least $1,000, except
for purchases made by employees of ITT Hartford, Wellington Management and
broker-dealer wholesalers and their affiliates and investors using periodic
investment plans, for which the minimum may be waived, and except for
participants in employer sponsored tax qualified retirement plans for which the
minimum is $50. There is a $100 minimum amount for subsequent purchases except
as referenced above.
THE FIRST SENTENCE IN THE SECOND FULL PARAGRAPH UNDER COMBINED PURCHASES ON PAGE
17 IS DELETED AND THE FOLLOWING INSERTED:
Qualifying investments include those by you and members of your family if
all parties are purchasing Class A shares for their own account(s), which may
include tax qualified plans, such as an IRA, or by a company solely controlled
by such individuals as defined in the 1940 Act.
NUMBER (2) IN THE FIRST PARAGRAPH UNDER WAIVER OF CLASS A INITIAL SALES CHARGE
ON PAGE 18 IS DELETED AND THE FOLLOWING INSERTED:
(2) present or former officers, directors and employees (and their families)
of the Company, ITT Hartford, ITT Corporation, ITT Industries, Wellington
Management, Transfer Agent and their affiliates, and retirement plans
established by them for their employees if purchased directly through the
Transfer Agent,
