Nationwide Mutual Funds has selected Federated Investors to sub-advise three of its money market funds with $5.6 billion in combined assets. They are the Nationwide Money Market Fund, the NVIT Money Market Fund and the NVIT Money Market Fund II.

All three are taxable money market funds that invest in investment-grade fixed-income securities including commercial paper, asset-backed commercial paper and other fixed-income securities issued by U.S. and foreign corporations; U.S. government securities and agency securities; obligations of foreign governments; and obligations of both U.S. and foreign banks.

Federated manages money market funds with a conservative bias, emphasizing experienced portfolio management and stringent credit research.

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