A $1.1-trillion AUM French multinational's U.S. arm just entered the mutual fund business on this side of the pond as a subadvisor.

Michael Spangler Nationwide Funds President, Chief Executive Officer

Mike Spangler, president of Nationwide Funds [profile], confirms that on November 2 Nationwide launched the Nationwide Amundi Global High Yield Fund and the Nationwide Amundi Strategic Income Fund. Both funds are subadvised by Durham, North Carolina-based Amundi Smith Breeden, a subsidiary of Paris-based Amundi.

Spangler lauds Amundi's "strong global research capabilities and strong global brand."

"A goal for us has been to build out and expand our suite of fixed income options, with a tilt towards global," Spangler tells MFWireWire. "We're excited to partner with Amundi ... We want to help them build their U.S. presence."

Columbus, Ohio-based Nationwide's mutual fund arm offers 118 funds with about $58.1 billion in AUM, not counting funds of funds. 

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