Nationwide Financial Services' mutual fund subsidiary has introduced a series of five mutual funds that are subadvised by highly regarded institutional money managers.
The Prestige Advisor Series funds became available last month through 401(k) and other retirement programs, opening the door for banks to sell them as part of their retirement offerings.
But when the funds become available on a retail basis in March they will not be available to bank retail customers, being sold instead mainly through insurance agents.
The funds, which are offered by Nationwide Advisory Services, are managed by Invesco, Goldman Sachs Asset Management, Brinson Partners, Lazard Asset Management, and J.P. Morgan Investment Management.
Nationwide Advisory Services has nearly $11 billion of assets.