Nationwide Mutual Funds drops management fees by 0.2% for 11 funds

By Toni Weeks

San Diego, Dec. 13 - The board of trustees of Nationwide Mutual Funds approved on Dec. 13 an amended investment advisory agreement between the trust and Nationwide Fund Advisors, the investment adviser to the trust, reducing the unified management fee payable by the fund to the adviser.

According to 497 filings with the Securities and Exchange Commission, the management fee will drop to 0.13% of the fund's average daily net assets for all classes of shares. Previously, the management fee was 0.33%. The change takes effect Jan. 1.

The affected funds are the Nationwide Destination 2010 Fund, the Nationwide Destination 2015 Fund, the Nationwide Destination 2020 Fund, the Nationwide Destination 2025 Fund, the Nationwide Destination 2030 Fund, the Nationwide Destination 2035 Fund, the Nationwide Destination 2040 Fund, the Nationwide Destination 2045 Fund, the Nationwide Destination 2050 Fund, the Nationwide Destination 2055 Fund and the Nationwide Retirement Income Fund.

Nationwide Fund Advisors is based in King of Prussia, Pa.

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