Nationwide Asset Management will be the sub-adviser on the new fund. Joe Buck and Gary Hunt are the portfolio managers.
The new fund's A Shares require a minimum investment of $2,000 and carry an annual expense ratio of 80 basis points.
For investors, the new fund acts as a hedge to future inflation without burdening the investor with additional credit risk, according to Michael Spangler, president of Nationwide Funds. "Inflation-protected securities play a crucial role in lowering volatility in an investor's long-term asset allocation strategy," he stated.
Nationwide Funds manages 86 funds and held $42 billion in assets under management, as of June 1. Nationwide Funds is the mutual fund arm of Nationwide Financial Services, a subsidiary of the privately held insurance giant Nationwide Mutual Insurance Co., which is based in Columbus, Ohio.