Nationwide Financial has beefed up its mutual fund portfolio by adding 17 new equity and bond funds from HighMark Capital Management worth some $3.6 billion in assets. Terms of the deal are not being disclosed.

HighMark, a wholly owned subsidiary of Union Bank, N.A., will become the subadviser to the nine funds that it currently manages. In addition to HighMark, eight of the 17 mutual funds are subadvised by three other asset managers, including Bailard, Geneva Capital Management Ltd, and Ziegler Lotsoff Capital Management.

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