, the asset management arm of Nationwide Financial
led by Fidelity veteran Paul Hondros
, is adding to its family of funds. The firm is opening two global technology funds and four international funds as part of a partnership with its London-based affiliate Gartmore Investment Management
Villanova also changed the name of the Nationwide Mid Cap Growth Fund to the Gartmore Millennium Growth Fund. The firm said that the name change "reflects a new focus for the fund." Nationwide acquired Gartmore in May.
Each of the six new funds will also take the Gartmore moniker and will be offered in the United States starting October 2, 2000. All four international funds will be subadvised by Gartmore. The two tech funds will be managed by Villanova out of Conshohocken, Pennsylvania.
The new funds are: Gartmore International Growth Fund, Gartmore Emerging Markets Fund, Gartmore Global Technology and Communications Fund, Gartmore NSAT International Growth Fund, Gartmore NSAT Emerging Markets Fund, Gartmore NSAT Global Technology and Communications Fund.
The six funds represent three different investment aims. Each comes in two flavors. The NSAT funds are available as investment options in variable annuity contracts and variable life insurance policies issued by life insurance companies. The vanilla flavor of the funds will be offered to retail investors and retirement plan accounts.
Hondros said that the new funds are "a major step forward in the development of a global product line as well as the inauguration of a strong and mutually beneficial partnership with Gartmore.
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