Nationwide Financial Completes Acquisition of 17 Equity and Bond Funds from
Nationwide Funds now manages approximately $52 billion in net assets
COLUMBUS, Ohio -- September 16, 2013
Nationwide Financial today announced it has completed its acquisition of 17
equity and fixed-income mutual funds from HighMark Capital Management, Inc.
This transaction provides Nationwide Financial’s mutual fund business,
Nationwide Funds, with approximately $3.6 billion in new assets, and expands
the suite of investment strategies Nationwide Funds offers financial advisors
and their clients. Nationwide Funds now has more than $52 billion in assets
under management.^1 Terms of the transaction are not being disclosed.
“This acquisition is another significant step to expand our mutual fund
business and strengthens our role as a strategic partner to financial
advisors,” said Kirt Walker, president and chief operating officer of
Nationwide Financial. “Adding these funds enables Nationwide to build upon the
variety of investment strategies we provide to help meet the needs of
financial advisors to help their clients prepare for and live in retirement.”
Walker said the acquired mutual funds increase Nationwide’s product breadth
and quality with the addition of five funds that have four or five-star
ratings, and noted that several are included in model portfolios and
recommended lists at their partner firms. All 17 funds will be available for
trading beginning Tuesday, Sept. 17.
HighMark Capital will be the subadviser to nine of these new Nationwide Funds.
The remaining eight funds will continue to be subadvised by one of three other
asset managers: Bailard, Inc., Geneva Capital Management, Ltd., and Ziegler
Lotsoff Capital Management, LLC. Nationwide is continuing these existing
“Since our announcement in April, the organizations have continued to provide
strong value and performance to their clients while working toward a
successful close of the transaction,” said Michael Spangler, president of
Nationwide Funds. “We are proud to add these funds to our investment offerings
and are committed to providing stability and continuity to existing and future
Cambridge International Partners, Inc. was engaged as financial adviser to
Nationwide Financial, and Stradley Ronon Stevens & Young, LLP was retained as
its legal counsel. HighMark Capital Management and Union Bank engaged
Berkshire Capital Securities, LLC as their financial adviser and Bingham
McCutchen, LLP as their legal counsel.
Investors interested in learning more about Nationwide Funds should contact
their financial advisor or visit the Nationwide Funds website. Financial
advisors interested in learning more should call the Nationwide Funds sales
desk at 877-877-5083, option 3, go to
http://www.nationwide.com/financial/advisor-highmark-acquisition.jsp and can
follow @NationwideFunds on Twitter for market commentary, news and insights.
About Nationwide Funds
Based in the Philadelphia area, Nationwide Funds is the mutual fund business
of Nationwide Financial Services Inc., a leading provider of long-term savings
and retirement products and a Nationwide Insurance company. A strategic
partner to advisors, Nationwide Funds provides a full family of sub-advised
mutual funds designed to help meet the unique investment goals and risk
tolerances of their investor clients. As of March 31, 2013, Nationwide Funds
manages 91 funds with approximately $46 billion in assets, excluding fund of
Nationwide Mutual Insurance Company, based in Columbus, Ohio, is one of the
largest and strongest diversified insurance and financial services
organizations in the U.S. and is rated A+ by both A.M. Best and Standard &
Poor’s. The company provides customers a full range of insurance and financial
services, including auto insurance, motorcycle, boat, homeowners, pet, life
insurance, farm, commercial insurance, annuities, mortgages, mutual funds,
pensions, long-term savings plans and specialty health services. For more
information, visit www.nationwide.com.
Nationwide, Nationwide Financial, the Nationwide framemark, Nationwide Funds,
Nationwide Funds Group and On Your Side are service marks of Nationwide Mutual
Investing in mutual funds involves risk, including the possible loss of
principal. Investors’ shares, when redeemed, may be worth more or less than
their original cost.
Investors should carefully consider a fund’s investment objectives, risks,
fees, charges and expenses before investing any money. To obtain this and
other information on Nationwide Funds Group, please call 1-800-848-0920 to
request a summary prospectus and/or a prospectus, or download a summary
prospectus and/or a prospectus at nationwide.com/mutualfunds. Please read it
carefully before investing any money.
Nationwide Funds distributed by Nationwide Fund Distributors LLC (NFD), member
FINRA, King of Prussia, Pa. NFD is not an affiliate of any subadviser
discussed in this material.
^(1) As of Sept. 16, 2013, net of fund of funds
Dace de la Foret, 614-677-8387
Kris Kagel, 973-850-7312
Joanne Curran, 213-236-5017
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