Nationwide is expanding product line capabilities in the global fixed-income space with the addition of two new mutual funds that will offer investors the opportunity to diversify their bond exposure into the international markets. Amundi Smith Breeden will subadvise the Nationwide Amundi Global High Yield and the Nationwide Amundi Strategic Income Funds.
“We welcome Amundi to our family of best-in-class subadvisers,” said Mike Spangler, president of Nationwide Funds. “These new funds will complement our existing international equity capabilities and add diversity to our competitive menu of fixed-income offerings, allowing financial advisors to take a more global approach to helping their clients fulfill their investment needs.”
Amundi Smith Breeden in Durham, N.C., serves as the North American investment headquarters for Amundi, a $1.1 trillion global asset manager with six investment centers across the U.S., Europe and Asia. Widely recognized for its 32-year commitment to developing proprietary fixed-income research, Amundi Smith Breeden provides investment solutions managing portfolios for corporate and public pensions, foundations, endowments, insurance companies, private banks and sovereign funds with some relationships extending more than 20 years.
The Nationwide Amundi Global HighYield Fund (Class A: NWXIX; Class C: NWXJX; Institutional Class: NWXKX; Institutional Service Class: NWXLX) will go beyond just U.S. high yield to include exposure to the high-yield debt markets in Europe and the emerging markets. With the recent growth of the latter two markets, Nationwide is pleased to offer Amundi Smith Breeden’s credit expertise through this portfolio that will seek to generate a high level of income for its investors.
Alongside this, the Nationwide Amundi Strategic Income Fund (Class A: NWXEX; Class C: NWXFX; Institutional Class: NWXGX; Institutional: NWXGX; Institutional Service: NWXHX) will have significant flexibility in its pursuit of delivering a high level of income to its investors. The Fund will invest in multiple sectors of the global fixed-income markets, such as investment-grade corporates, global high-yield, bank loans, mortgage and asset-backed securities and emerging markets debt. Amundi Smith Breeden has managed multi-sector fixed-income strategies since 1990 and will leverage the deep resources of Amundi’s global investment management platform.
Kenneth J. Monaghan will manage the Nationwide Amundi Global High Yield Fund and Jonathan M. Duensing will manage the Nationwide Amundi Strategic Income Fund.
“The fixed-income markets have become increasingly global, which means there are opportunities for fixed-income investors to generate returns derived from markets beyond U.S. borders,” said Spangler. “These new global fixed-income funds will offer investors enhanced portfolio diversification through exposure to international markets.”
A strategic partner to advisors, Nationwide provides a full family of subadvised mutual funds designed to help meet the unique investment goals and risk tolerances of investors. Nationwide currently manages 118 funds with approximately $58.1 billion in assets, excluding fund of funds.