Nationwide gives details on new Nationwide Core Plus Bond Fund

By Toni Weeks

San Diego, Dec. 14 - Nationwide Mutual Funds announced the launch of its new Nationwide Core Plus Bond Fund, according to an N-1A filing with the Securities and Exchange Commission.

The fund seeks maximum long-term total return consistent with reasonable risk to principal by investing primarily in investment-grade debt securities of varying maturities.

Specifically, the fund invests at least 80% of its net assets in fixed-income securities, which includes bonds, notes, debentures, preferred stock, convertible securities and other instruments with debt-like characteristics.

At least 80% of the fund's assets are invested in investment-grade securities, with up to 20% of the assets invested in high-yield bonds. The fund is managed so that its weighted average maturity will range from four to nine years and its duration from three to seven years.

William M. Bellamy is the portfolio manager.

The fund launched with class A, institutional and institutional service class shares. The ticker symbols are NWCPX, NWCIX and NWCSX, respectively.

Shareholder fees consist of a 4.25% maximum sales charge for class A shares. Including management fees of 0.45% and other fees, and including the effects of a fee waiver/expense reimbursement agreement with the adviser, total annual fund operating expenses are expected to be 1.2% for class A shares, 0.7% for institutional class shares and 0.95% for institutional service class shares. The agreement expires Feb. 28, 2015.

King of Prussia, Pa.-based Nationwide Fund Advisors is the investment adviser to the fund.

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