Nationwide Financial has finalized its adoption of the Thompson, Siegel & Walmsley (TS&W) Fixed Income Portfolio after shareholders gave the thumbs up earlier this month. TS&W will stay on as the funds’ sub-adviser.
Nationwide’s assets under management will see a bump of $71 million from the TS&W transaction.
“This latest adoption exemplifies Nationwide’s ongoing effort to grow its mutual fund business and expand its investment offerings through fund adoptions,” stated Michael Spangler, president of Nationwide Funds.
“The Nationwide Core Plus Bond Fund complements our existing product lineup by utilizing a global fixed-income strategy that gives investors the opportunity to benefit from both the stability of investment-grade bonds and the higher returns associated with high-yield bonds.”
Nationwide has been on a deal-making roll as of late agreeing earlier this month to acquire 17 funds and $3.6 billion in assets from HighMark Capital Management. The firm has also formed a defined contribution investment only unit to make a concerted effort at gaining traction in the retirement space.