Nationwide Offers Diverse Managers Fund

Nationwide Retirement Solutions has released the Nationwide Diverse Managers Fund.

The fund is designed to give participants of defined contribution retirement plans, in both the public and private sectors, access to investments managed by minority- and women-owned firms.

“While many plans have mandates for minority- and women-owned investment managers, we want to go beyond what people are asking for,” Eric Stevenson, vice president of Nationwide’s public sector retirement business, tells PLANADVISER.

The fund is a balanced portfolio that invests in U.S. and international stocks, small-cap stocks and fixed-income securities. It is managed by four separate minority- and women-owned investment firms, including Ariel Investments, Herndon Capital, Garcia Hamilton & Associates, and Strategic Global Advisors.

“All of the firms involved are really top-tier, each of them outstanding in their own segments,” says the Columbus, Ohio-based Stevenson. “We are happy to contribute our distribution and infrastructure capabilities to this already top-notch mix.”

He adds that the fund breaks down to 40% U.S. intermediate fixed income, 32% U.S. stocks, 15% international funds and 13% U.S. small-cap funds. In addition, the fund is available through institutional share classes and is available to plans outside of those administered by Nationwide.

For more information, plan sponsors and advisers can visit or call 877-496-1630.