<PAGE> 1
NATIONWIDE(R) FAMILY OF FUNDS
Gartmore Growth 20 Fund
PROSPECTUS 2000
SEPTEMBER 29, 2000
As with all mutual funds, the Securities and Exchange Commission has not
approved or disapproved this Fund's shares or determined whether this prospectus
is complete or accurate. To state otherwise is a crime.
[NATIONWIDE LOGO]
<PAGE> 2
TABLE OF CONTENTS
FUND SUMMARY...................................................................2
Objective and Principal Strategies.............................................3
Principal Risks................................................................3
Performance....................................................................4
Fees and Expenses..............................................................4
MORE ABOUT THE FUND............................................................6
Principal Investments and Techniques...........................................6
Principal Risks................................................................6
MANAGEMENT.....................................................................9
Investment Manager.............................................................9
Portfolio Managers.............................................................9
BUYING, SELLING AND EXCHANGING FUND SHARES....................................10
Choosing a Share Class........................................................10
Buying Shares.................................................................11
Selling Shares................................................................14
Distribution Plan.............................................................16
Exchanging Shares.............................................................16
DISTRIBUTIONS AND TAXES.......................................................18
Distributions of Income Dividends.............................................18
Distributions of Capital Gains................................................18
Reinvesting Distributions.....................................................18
State and Local Taxes.........................................................18
Selling Fund Shares...........................................................18
Exchanging Fund Shares........................................................18
ADDITIONAL INFORMATION................................................BACK COVER
1
<PAGE> 3
FUND SUMMARY
This prospectus provides information about the Gartmore Growth 20 Fund (the
"Fund"), a series of the Nationwide(R) Mutual Funds. "You" and "your" refers to
potential investors and current shareholders of the Fund.
A QUICK NOTE ABOUT SHARE CLASSES
The Fund has three different share classes -- Class A, Class B and Institutional
Service Class shares. The fees, sales charges and expenses for each share class
are different, but each share class of the Fund represents an investment in the
same assets of the Fund. Having different share classes simply lets you choose
the cost structure that's right for you.
The fees and expenses for the Fund are set forth below. For more information
about which share class is right for you, see "Buying, Selling and Exchanging
Fund Shares -- Choosing a Share Class" beginning on page ten.
2
<PAGE> 4
This section summarizes key information about the Fund. Use the summary to
compare the Fund with other mutual funds. More detailed information about the
risks and investment techniques of the Fund can be found in "More About the
Fund" beginning on page six.
OBJECTIVE AND PRINCIPAL STRATEGIES
The Fund seeks long term capital appreciation. The Fund's investment objective
may be changed without shareholder approval.
To achieve its objective, the Fund normally invests at least 65% of its assets
in common stock and convertible securities of companies of any market
capitalization in any country which demonstrate high growth potential. The
portfolio manager generally intends to be fully invested in these securities.
The Fund looks for companies whose earnings are expected to grow faster than
other companies in the market. The Fund typically focuses its investments in a
core group of 20 to 30 common stocks. It usually will sell portfolio securities
if:
- the outlook of a company's earnings growth becomes less attractive
- more favorable opportunities are identified.
- there is a significant increase in share price volatility
The Fund may also invest in debt securities, indexed/ structured securities,
high yield/ high-risk bonds, options, futures, swaps and other types of
derivatives for hedging purposes or non-hedging purposes such as seeking to
enhance return.
PRINCIPAL RISKS
Because the value of an investment will fluctuate, there is the risk that a
shareholder will lose money.
STOCK MARKET RISK. Stock market risk is the risk that the Fund could lose value
if the individual stocks in which the Fund has invested or the overall stock
markets in which they trade go down. Individual stocks and the overall stock
markets may experience short-term volatility as well as extended periods of
decline or little growth. Individual stocks are affected by factors such as
corporate earnings, production, management and sales. Individual stocks may also
be affected by the demand for a particular type of stock, such as growth stocks
or the stocks of companies with a particular market capitalization. Stock
markets are affected by numerous factors, including interest rates, the outlook
for corporate profits, the health of the national and world economies, national
and world social and political events, and the fluctuations of other stock
markets around the world.
RISKS RELATED TO INVESTING FOR GROWTH. Different types of stocks tend to shift
into and out of favor with stock market investors depending on market and
economic conditions. Because the Fund focuses on growth-style stocks, the Fund's
performance may at times be better or worse than the performance of stock funds
that focus on other types of stocks, or that have a broader investment style.
SMALL CAP RISK. The Fund's investments in smaller, newer companies may be
riskier than investments in larger, more established companies. The stocks of
smaller companies are usually less stable in price and less liquid than the
stocks of larger companies.
FOREIGN RISK. Investments in foreign securities involve risks in addition to
those of U.S. investments. These risks involve political and economic risks,
currency fluctuations, higher transaction costs, and delayed settlement. To the
extent that the Fund invests in countries with emerging markets, the foreign
securities risks are magnified since these countries may have unstable
governments and less established markets.
DERIVATIVES RISK. An investment in derivative contracts can have an impact on
market, currency and interest rate exposure. Therefore, using derivatives can
disproportionately increase losses and reduce opportunities for gains when
security prices, currency rates or interest rates are changing. Counterparties
to the over-the-counter derivative contracts present the same types of default
risk as issuers of fixed income securities. Derivatives can also make the Fund
less liquid and harder to value, especially in declining markets. Also, the Fund
may suffer disproportionately heavy losses relative to the amount of its
investments in derivative contracts. Lastly, changes in the value of derivative
contracts or other hedging instruments may not match or fully offset changes on
the value of the hedged portfolio securities.
NON-DIVERSIFIED FUND RISK. In addition, the Fund is non-diversified. In other
words, it may hold larger positions in a smaller number of securities than a
diversified fund. Since the Fund normally concentrates in a core portfolio of 20
to 30 stocks, this risk may be increased. As a result, a single security's
increase or decrease in value may have a greater impact on the Fund's net asset
value and total return.
For more detailed information about the Fund's investments and risks, see "More
About the Fund" on page six.
3
<PAGE> 5
Fund Summary
PERFORMANCE
No performance information is provided because the Fund did not begin operations
until on or about June 30, 2000.
FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund.
<TABLE>
<CAPTION>
Institutional
Service
Shareholder Fees(1) Class A Class B Class
(paid directly from your investment) shares shares shares
-----------------------------------------------------------------------
<S> <C> <C> <C>
Maximum Sales Charge (Load) imposed 5.75%(2) None None
on purchases (as a percentage of
offering price)
.......................................................................
Maximum Deferred Sales Charge (Load) None(3) 5.00%(4) None
imposed on redemptions (as a
percentage of original purchase
price or sale proceeds, as
applicable)
</TABLE>
<TABLE>
<CAPTION>
Institutional
Service
Annual Fund Operating Expenses Class A Class B Class
(deducted from Fund assets) shares shares shares
-----------------------------------------------------------------
<S> <C> <C> <C>
Management Fees(5) 0.90% 0.90% 0.90%
.................................................................
Distribution and/or Service 0.25% 1.00% None
(12b-1) Fees
.................................................................
Other Expenses(6) 0.87% 0.72% 0.79%
-----------------------------------------------------------------
Total Annual Fund 2.02% 2.62% 1.69%
Operating Expenses
.................................................................
Amount of Fee Waiver/Expense 0.42% 0.42% 0.39%
Reimbursement
-----------------------------------------------------------------
NET FUND OPERATING 1.60% 2.20% 1.30%
EXPENSES AFTER WAIVERS(7)
-----------------------------------------------------------------
</TABLE>
(1) If you buy and sell shares through a broker or agent, they may also charge
you a transaction fee.
(2) As the amount of your investment increases, the sales charge imposed on the
purchase of Class A shares decreases. For more information, see "Buying,
Selling and Exchanging Fund Shares -- Buying Shares -- Class A sales
charges" beginning on page 11.
(3) A contingent deferred sales charge (CDSC) of up to 1% may be imposed on
certain redemptions of Class A shares purchased without a sales charge.
(4) A CDSC ranging from 5% to 1% is charged when you sell Class B shares within
the first six years of purchase. Class B shares are converted to Class A
shares after you have held them for seven years. See "Buying, Selling and
Exchanging Fund Shares -- Selling Shares -- CDSC on Class A and Class B
shares" on page 14.
(5) The Fund commenced operations on or about June 30, 2000. As a result, the
management fee represents the fee which is payable to the Villanova Mutual
Fund Capital Trust (VMF), the Fund's adviser under its contract with the
Fund. In addition, the management fee given above is a base fee and may be
higher or lower depending upon the Fund's performance relative to its
benchmark, the S&P 500 Index. For more information concerning this Fund see
the section entitled "Management" on page 9.
(6) As a new fund, these are estimates for the current fiscal year ending in
October 31, 2000. These estimates do not take into account the expense
limitation agreement between the Fund and VMF.
(7) VMF and the Fund have entered into a written contract limiting operating
expenses to those listed in "Net Fund Operating Expenses After Waivers"
through October 31, 2001. The Fund is authorized to reimburse the adviser
for management fees previously waived and/or for the cost of Other Expenses
paid by VMF provided that any such reimbursement will not cause the Fund to
exceed the expense limitations noted above. The Fund's ability to reimburse
VMF in this manner only applies to fees paid or reimbursements made by VMF
at some time within the first five years from the time the Fund commenced
operations.
4
<PAGE> 6
EXAMPLE
This example shows what you could pay in expenses over time. You can also use
this example to compare the cost of this Fund with other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods
indicated and then sell all of your shares at the end of those periods. It
assumes a 5% return each year and no changes in expenses. Although your actual
costs may be higher or lower, based on these assumptions your costs would be:
<TABLE>
<CAPTION>
1 year 3 years
----------------------------------------------------------
<S> <C> <C>
Class A shares $728 $1,172
..........................................................
Class B shares $723 $1,114
..........................................................
Institutional Service Class shares $132 $ 533
</TABLE>
You would pay the following expenses on the same investment if you did not sell
your shares:
<TABLE>
<CAPTION>
1 year 3 years
----------------------------------------------------------
<S> <C> <C>
Class A shares $728 $1,172
..........................................................
Class B shares $223 $ 814
..........................................................
Institutional Service Class shares $132 $ 533
</TABLE>
5
<PAGE> 7
MORE ABOUT THE FUND
This section contains a summary discussion of the general risks of investing in
the Fund. As with any mutual fund, there can be no guarantee that the Fund will
meet its goals or that the Fund's performance will be positive for any period of
time.
PRINCIPAL INVESTMENTS AND TECHNIQUES
The Fund may use the principal investment technique described below to increase
returns, protect assets or diversify investments. This technique involves
certain risks. For additional information about the Fund's investment strategies
and techniques, see the Statement of Additional Information (SAI).
CONVERTIBLE SECURITIES. In addition to investing in common stock, the Fund may
invest in convertible securities -- also known as convertibles -- including
bonds, debentures, notes, preferred stocks and other securities. Convertibles
are hybrid securities that have characteristics of both bonds and stocks. Like
bonds, they pay interest. Because they can be converted into common stock within
a set period of time, at a specified price or formula, convertibles also offer
the chance for capital appreciation, like common stocks.
Convertibles tend to be more stable in price than the underlying common stock,
although price changes in the underlying common stock can affect the
convertible's market value. For example, as the underlying common stock loses
value, convertibles present less opportunity for capital appreciation, and may
also lose value. Convertibles, however may sustain their value better than
common stock because they pay income, which tends to be higher than common stock
dividend yields.
Because of this fixed-income feature, convertibles may compete with bonds as a
good source of dependable income. Therefore, if interest rates increase and
"newer," better-paying bonds become more attractive, the value of convertibles
may decrease. Conversely, if interest rates decline, convertibles could increase
in value.
Convertibles tend to be more secure than common stock (generally companies must
pay holders of convertibles before they pay common stock shareholders), but they
are typically less secure than similar non-convertible securities such as bonds
(bondholders generally must be paid before holders of convertibles and common
stock). Because convertibles are subordinate to bonds in terms of payment
priority, convertibles typically are rated below investment grade by a
nationally recognized rating agency, or they are not rated at all.
PRINCIPAL RISKS
SMALL CAP RISK. Historically, the securities of small companies have been more
volatile in price than larger company securities, especially over the short
term. Among the reasons for the greater price volatility are the less certain
growth prospects of small companies, the lower degree of liquidity in the
markets for such securities, the greater impact caused by changes in investor
perception of value, and the greater sensitivity of small cap companies to
changing economic conditions. In addition, small cap companies may:
- lack depth of management
- lack a proven track record
- be unable to generate funds necessary for growth or development
- be developing or marketing new products or services for which markets are
not yet established and may never become established
- market products or services which may become quickly obsolete.
Certain small cap industries that the Fund invests in may be in the technology
and biotechnology industries. Small cap companies in these industries may be
subject to more abrupt or erratic price movements than small cap stocks in other
industries. Therefore, while small cap companies may offer greater opportunities
for capital growth than larger, more established companies, they also involve
greater risks and should be considered speculative.
NON-DIVERSIFICATION
As a non-diversified fund, the Fund has the ability to invest a larger
portion of its assets in a smaller number of issuers. Because the
appreciation or depreciation of a single stock may have a greater impact on
the net asset value (NAV) of the Fund and its performance, its share price
can be expected to fluctuate more than a comparable diversified fund. This
fluctuation, if significant, may affect the performance of the Fund. With
regard to the Fund, such risks are increased because the Fund normally
concentrates its investments in a core group of twenty to thirty common
stocks.
FOREIGN RISK. Foreign security investment involves special risks not present in
U.S. investments that can increase the chances that the Fund will lose money.
- COUNTRY. General securities market movements in any country in which the
Fund has investments, are likely to
6
<PAGE> 8
affect the value of the Fund's securities that trade in that country. These
movements will affect the Fund's share price and a Fund's performance. The
political, economic and social structures of some countries in which the
Fund invests may be less stable and more volatile than those in the U.S. The
risks of investing in these countries include the possibility of the
imposition of exchange controls, currency devaluations, foreign ownership
limitations, expropriation, restrictions on removal of currency or other
assets, nationalization of assets, punitive taxes and certain custody and
settlement risks.
- COMPANY. Foreign companies are not subject to the same disclosure,
accounting, auditing and financial reporting standards and practices as U.S.
companies and their securities may not be as liquid as securities of similar
U.S. companies. Foreign stock exchanges, trading systems, brokers and
companies generally have less government supervision and regulation than in
the U.S.A. Fund may have greater difficulty voting proxies, exercising
shareholder rights, pursuing legal remedies and obtaining judgments with
respect to foreign investments in foreign courts than with respect to U.S.
companies in U.S. courts.
- FOREIGN MARKETS. The Fund is subject to the risk that because there are
generally fewer investors in foreign markets and a smaller number of
securities traded each day, it may make it difficult for the Fund to buy and
sell certain securities. In addition, prices of foreign securities may go up
and down more than prices of securities traded in the U.S. Also, brokerage
commissions and other costs of buying and selling securities often are
higher in foreign countries than they are in the United States. This reduces
the amount the Fund can earn on its investments.
- GOVERNMENTAL SUPERVISION AND REGULATION/ACCOUNTING STANDARDS. Foreign
companies are not subject to the same disclosure, accounting, auditing and
financial reporting standards and practices as U.S. companies. The Fund may
have greater difficulty voting proxies, exercising shareholder rights,
pursuing legal remedies and obtaining judgments with respect to foreign
investments in foreign courts than with respect to U.S. companies in U.S.
courts. Many foreign governments supervise and regulate stock exchanges,
brokers and the sale of securities less than the U.S. does. Other countries
may not have laws to protect investors the way that the U.S. securities laws
do. Accounting standards in other countries are not necessarily the same as
in the U.S. If the accounting standards in another country do not require as
much detail as U.S. accounting standards, it may be harder for the Fund's
portfolio manager to completely and accurately determine a company's
financial condition.
- CURRENCY. Some of the Fund's investments may be denominated in foreign
currencies. Changes in foreign currency exchange rates will affect the value
of what the Fund owns as well as a Fund's share price. Generally, when the
U.S. dollar rises in value against a foreign currency, an investment in that
country loses value because that currency is worth fewer U.S. dollars.
Devaluation of currency by a country's government or banking authority also
has a significant impact on the value of any securities denominated in that
currency. In addition, if the currency in which the Fund receives dividends,
interest or other payments declines in value against the U.S. dollar before
such income is distributed as dividends to shareholders or converted to U.S.
dollars, the Fund may have to sell portfolio securities to obtain sufficient
cash to pay such dividends.
- EUROPEAN ECONOMIC AND MONETARY UNION (EMU). A number of European countries
have entered into EMU in an effort to reduce trade barriers between
themselves and eliminate fluctuations in their currencies. EMU has
established a single European currency (the euro), which was introduced in
January 1, 1999 and is expected to replace the existing national currencies
of all initial EMU participants by July 1, 2002. Certain securities
(beginning with government and corporate bonds) were redenominated in the
euro. These securities trade and make dividend and other payments only in
euros. Like other investment companies and business organizations, including
the companies in which the Fund invests, the Fund could be adversely
affected:
- If the transition to euro, or EMU as a whole, does not proceed as planned.
- If a participating country withdraws from EMU.
- If the computing, accounting and trading systems used by the Fund's service
providers, or by other entities with which the Fund or its service
providers do business, are not capable of recognizing the euro as a
distinct currency.
7
<PAGE> 9
More About the Fund
TEMPORARY DEFENSIVE POSITIONS. In response to economic, political or unusual
market conditions, the Fund may invest up to 100% of its assets in cash or money
market obligations. Should this occur, the Fund will not meet its investment
objectives, and may miss potential market upswings.
8
<PAGE> 10
MANAGEMENT
INVESTMENT MANAGER
Villanova Mutual Fund Capital Trust (VMF), 1200 River Road, Conshohocken, PA
19428, manages the investment of the Fund's assets and supervises the daily
business affairs of the Fund. VMF was organized in 1999. As of August 31, 2000,
VMF and its affiliates had approximately $24.2 billion in assets under
management.
The Fund pays VMF a base management fee which may be adjusted upward or downward
depending on the Fund's performance relative to its benchmark, the S&P 500
Index. If the Fund outperforms its benchmark by a set amount, the Fund will pay
higher management fees. Conversely, if the Fund underperforms its benchmark by a
set amount, the Fund will pay lower fees. The Fund's SAI contains detailed
information about any possible performance based adjustments to the management
fees. The management fee is based on the Fund's average daily net assets and
includes breakpoints so fees decrease as assets increase:
<TABLE>
<CAPTION>
Min Base Max
Assets Fee Fee Fee
---------------------------------------------------
<S> <C> <C> <C>
up to $500 million 0.68% 0.90% 1.12%
...................................................
$500 million -- $2 billion 0.62% 0.80% 0.98%
...................................................
$2 billion + 0.59% 0.75% 0.91%
</TABLE>
PORTFOLIO MANAGERS
Christopher Baggini and Aaron Harris are the co-portfolio managers of the Fund.
As co-portfolio managers, they are responsible for the day-to-day management of
the Fund and the selection of the Fund's investments.
Mr. Baggini joined VMF in March 2000. Prior to joining VMF, Mr. Baggini was a
Portfolio Manager for Allied Investment Advisors.
Aaron Harris joined VMF in April 2000. Prior to joining VMF, Mr. Harris was a
Portfolio Manager for Nicholas-Applegate Capital Management and co-managed the
Nicholas-Applegate Global Technology Fund.
9
<PAGE> 11
BUYING, SELLING AND EXCHANGING FUND SHARES
CHOOSING A SHARE CLASS
As noted in the Fund Summary, the Fund offers different share classes to give
investors different price and cost options. Class A and Class B shares are
available to all investors; Institutional Service Class shares are available to
a limited group of investors.
With Class A shares, you pay a sales charge (known as a front-end sales charge)
when you purchase the shares; and with Class B shares you pay a sales charge
(known as a contingent deferred sales charge, or CDSC) if you sell your shares
within six years after purchase. Sales charges are paid to Nationwide Advisory
Services, Inc. (NAS), the Fund's principal distributor, who either retains them
or pays a selling representative. There is no such sales charge on Institutional
Service Class shares.
Class A and Class B shares both pay distribution and/or service fees under a
Distribution Plan. These fees are either retained by Nationwide Advisory
Services, Inc. (NAS) or paid by NAS to brokers for distribution and shareholder
services. Class A and Institutional Service Class shares may pay administrative
service fees. These fees are paid to brokers and other entities who provide
administrative support services to the beneficial owners of the shares.
If you want lower annual fund expenses, Class A shares may be right for you,
particularly if you qualify for a reduction or waiver of sales charges. If you
do not want to pay an up-front sales charge, and you anticipate holding your
shares for the long term, Class B shares may be more appropriate. As the Fund's
principal distributor, NAS reserves the right to reject an order in excess of
$100,000 for Class B shares and an order for Class B shares for Individual
Retirement Accounts (IRA accounts) for shareholders 70 1/2 years and older.
When choosing a share class, consider the following:
<TABLE>
<CAPTION>
Class A shares Class B shares
--------------------------------------------------------
<S> <C>
Front-end sales charge No front-end sales charge,
means that a portion of so your full investment
your initial investment immediately goes toward
goes toward the sales buying shares
charge, and is not invested
........................................................
Reductions and waivers of No reductions of the
the sales charge available contingent deferred sales
charge available, but
waivers available
........................................................
</TABLE>
<TABLE>
<CAPTION>
Class A shares Class B shares
--------------------------------------------------------
<S> <C>
Lower expenses than Class B Higher distribution and
shares mean higher service fees than Class A
dividends per share shares mean lower dividends
per share
........................................................
Conversion features are not After seven years, Class B
applicable shares convert into Class A
shares, which reduces your
future Fund expenses
........................................................
No sales charge when shares Contingent deferred sales
are sold back to the Fund. charge (CDSC) if shares
A CDSC of up to 1% may be sold within six years: 5%
charged on certain in the first year, 4% in
redemptions of Class A the second, 3% in the third
shares purchased without a and fourth years, 2% in the
sales charge fifth, and 1% in the sixth
year
</TABLE>
For investors who are eligible to purchase Institutional Service Class shares,
the purchase of Institutional Service Class shares will be preferable to
purchasing Class A or Class B Shares.
WHO CAN BUY INSTITUTIONAL SERVICE CLASS SHARES
The Institutional Service Class shares are available for purchase only by the
following:
- retirement plans introduced by persons not associated with brokers or
dealers that are primarily engaged in the retail securities business and
roll-over individual retirement accounts from such plans
- tax-exempt employee benefit plans for which third party administrators
provide recordkeeping services and are compensated by the Fund for such
services
- a bank, trust company or similar financial institution investing for its own
account or for the account of its trust customers for whom such financial
institution is exercising investment discretion in purchasing Institutional
Service Class shares, where the investment is part of a program that
collects an administrative service fee
- registered investment advisers investing on behalf of institutions and high
net-worth individuals where the adviser is compensated by the Fund for
services it provides
- life insurance separate accounts to fund the benefits of variable annuity
contracts issued to governmental entities as an investment option under
their deferred compensation plans as defined under Section 457 of the
Internal Revenue Code (the Code) or qualified plans adopted pursuant to
Section 401(a) of the Code.
10
<PAGE> 12
BUYING SHARES
PURCHASE PRICE. The purchase or "offering" price of each share of the Fund is
its NAV next determined after the order is received, plus any applicable sales
charge. A separate NAV is calculated for each class of the Fund. Generally, NAV\
is based on the market value of the securities owned by the Fund less its
liabilities. The NAV for a class is determined by dividing the total market
value of the securities owned by the Fund allocable to such class, less the
liabilities allocable to that class, by the total number of that class'
outstanding shares. NAV is determined at the close of regular trading on the New
York Stock Exchange (usually 4 p.m. Eastern Time) on each day the Exchange is
open for trading.
MINIMUM INVESTMENTS --
CLASS A & B SHARES
To open an account $1000
......................................................
Through the Automatic Asset
Accumulation plan
(per transaction) $25
......................................................
Additional investments $100
MINIMUM INVESTMENTS --
INSTITUTIONAL SERVICE CLASS SHARES
To open an account $50,000
......................................................
Additional investments $5,000
--------------------------------------------------------------
These minimum investment requirements do not apply to
certain retirement plans. Call 1-800-848-0920 for more
information. If you purchase shares through an account
at a broker (other than NAS), different minimum
account requirements may apply.
The Fund does not calculate NAV on the following days:
- Christmas Day
- New Year's Day
- Martin Luther King, Jr. Day
- Presidents' Day
- Good Friday
- Memorial Day
- Independence Day
- Labor Day
- Thanksgiving Day
- Other days when the New York Stock Exchange is not open.
The Fund reserves the right not to determine NAV for the Fund when:
- It has not received any orders to purchase, sell or exchange shares
- Changes in the value of the Fund's portfolio do not affect the NAV
If current prices are not available, or if Villanova SA Capital Trust (VSA) as
the Fund's administrator or its agent determines a price does not represent fair
value, the Fund's investments may be valued at fair market value in accordance
with procedures adopted by the Board of Trustees. To the extent that the Fund's
investments are traded in markets that are open when the New York Stock Exchange
is closed, the value of the Fund's investments may change on days when shares
cannot be purchased or redeemed.
IN-KIND PURCHASES. The Fund reserves the right to accept payment for shares in
the form of securities that are permissible investments for the Fund.
CLASS A SALES CHARGES
The chart below shows the Class A sales charges, which decrease as the amount of
your investment increases.
<TABLE>
<CAPTION>
Sales charge
Sales charge as % of
as % of amount
Amount of purchase offering price invested
----------------------------------------------------------------
<S> <C> <C>
less than $50,000 5.75% 6.10%
................................................................
$50,000 to $99,999 4.50 4.71
................................................................
$100,000 to $249,999 3.50 3.63
................................................................
$250,000 to $499,999 2.50 2.56
................................................................
$500,000 to $999,999 2.00 2.04
................................................................
$1 million to $24,999,999 0.50 0.50
................................................................
$25 million or more 0.25 0.25
</TABLE>
11
<PAGE> 13
Buying, Selling and Exchanging Fund Shares
CLASS A FINDERS' FEES
For certain sales of Class A shares at net asset value to employer sponsored
retirement plans (other than those investing in the Fund through a variable
insurance product), NAS will pay a finder's fee to the dealer when the Fund
shares are purchased. For the dealer to be eligible for the finder's fee, the
following requirements apply:
- The purchase of shares must be made by one employer sponsored retirement
plan within a twelve month period from the purchase of any Nationwide Family
of Funds (Nationwide Funds) Class A shares;
- The purchase can be made in any combination of Nationwide Funds; and
- The employer sponsored plan will be subject to a contingent deferred sales
charge for shares redeemed in any employer initiated redemption within the
first three years of purchase (the applicable contingent deferred sales
charge will be charged as described below).
If these conditions are met, a finder's fee will be paid on the purchase at the
following rates:
1.00% for sales of the Nationwide Funds of $1 million and more but less
than $3 million
0.50% for sales of the Nationwide Funds of $3 million and more but less
than $50 million
0.25% for sales of the Nationwide Funds of $50 million or more
REDUCTION AND WAIVER OF CLASS A SALES CHARGES
Shareholders can reduce or eliminate the Class A initial sales charge through
one or more of the discounts described below:
- Increase the amount of your investment. The preceding table shows how the
sales charge decreases as the amount of your investment increases.
- Family Member Discount. Members of your family who live at the same address
can combine investments, possibly reducing the sales charge.
- Lifetime Additional Discount. You can add the value of any of the
Nationwide Mutual Funds Class A shares you already own with the value of the
shares you are purchasing, which may reduce the applicable sales charge.
- Insurance Proceeds or Benefits Discount Privilege. If you use the proceeds
of an insurance policy issued by any member of the Nationwide Insurance
Enterprise to purchase Class A shares, you will pay one-half of the
published sales charge if you make your investment 60 days after receiving
the proceeds.
- No sales charge on a repurchase. If you sell shares from your Nationwide
account, we allow you a one-time privilege to reinvest some or all of the
proceeds in shares of the same class. You will not pay a sales charge on
Class A shares that you buy within 30 days of selling Class A shares of an
equal or lesser amount if you have already paid a sales charge. Remember, if
you realize a gain or a loss on your sale of shares, the transaction is
taxable and reinvestment will not affect the amount of capital gains tax
that is due. If you realize a loss on your sale and you reinvest, some or
all of the loss may not be allowed as a tax deduction depending on the
amount you reinvest.
- Letter of Intent Discount. State in writing that during a 13-month period
you or a group of family members who live at the same address will purchase
or hold at least $50,000 in Class A shares and your sales charge will be
based on the total amount you intend to invest. The letter may be backdated
up to 90 days to include previous purchases for determining your sales
charge. Your Letter of Intent is not a binding obligation to buy shares of
the Fund; it is merely a statement of intent. Call 1-800-848-0920 for more
information.
WAIVER OF CLASS A SALES CHARGES
The Class A sales charges will be waived for the following purchases:
Class A shares sold to:
- Any person purchasing through an account with an unaffiliated brokerage firm
that has an agreement with NAS to waive sales charges for those persons;
- Directors, officers, full-time employees, sales representatives and their
employees or any investment advisory clients of a broker-dealer having a
dealer/selling agreement with NAS;
12
<PAGE> 14
- Any person who pays for the shares with proceeds of a sale of mutual fund
shares. To qualify, you must have paid an initial sales charge or CDSC on
the shares sold. You must purchase the Class A shares within 60 days of the
sale, and you must request the waiver when you purchase the Class A shares
(NAS may require evidence that you qualify for this waiver);
- Employer-sponsored retirement plans, including pension, profit sharing or
deferred compensation plans which are qualified under sections 401(a),
403(b) or 457 of the Internal Revenue Code.
- Trustees and retired Trustees of Nationwide Mutual Funds (including its
predecessor Trusts).
- Directors, officers, full-time employees, sales representatives and their
employees, and retired directors, officers, employees, and sales
representatives, their spouses, children or immediate relatives (including
mother, father, brothers, sisters, grandparents and grandchildren) and
immediate relatives of deceased employees of any member of Nationwide
Insurance and Nationwide Financial companies, or any investment advisory
clients of VMF, VSA, NAS and their affiliates.
- Directors, officers, full-time employees, their spouses, children or
immediate relatives and immediate relatives of deceased employees of any
sponsor group which may be affiliated with Nationwide Insurance and
Nationwide Financial companies from time to time (including, but not limited
to, Farmland Insurance Industries, Inc., Maryland Farm Bureau, Inc., Ohio
Farm Bureau Federation, Inc., Pennsylvania Farmers' Association, Ruralite
Services, Inc., and Southern States Cooperative).
Additional investors eligible for sales charge waivers may be found in the SAI.
CONVERSION OF CLASS B SHARES
After you have held your Class B shares for seven years, we will automatically
convert them into Class A shares (without charge), which carry the lower 12b-1
fee. We will also convert any Class B shares that you purchased with reinvested
dividends and other distributions for those shares at that time. Remember,
because the NAV of Class A shares is usually higher than the NAV of Class B
shares, you may receive fewer Class A shares than the number of Class B shares
converted, but the total dollar value will be the same. We do the conversion on
the first business day of the month following the seventh anniversary of the
date of your purchase.
HOW TO PLACE YOUR PURCHASE ORDER
If you wish to purchase Class A or Class B shares, you may purchase the shares
using one of the methods below. Eligible entities wishing to purchase
Institutional Service Class shares should contact NAS at 1-800-848-0920 for
information regarding such purchases.
BY MAIL -- Complete and mail the application with a check or money order made
payable to: Nationwide Advisory Services, Inc., P.O. Box 1492, Columbus, Ohio
43216-1492. Payment must be made in U.S. dollars only and drawn on a U.S. bank.
NAS will not accept third-party checks.
BY WIRE -- You can request that your bank transmit funds (federal funds) by wire
to the Fund's custodian bank. In order to use this method, you must call NAS by
4 p.m. Eastern Time, and the wire must be received by the custodian bank by the
close of business on the day you placed your order or your order will be
cancelled. You may be liable for any loss to the Fund resulting from the
cancellation. Your bank may charge a fee to wire the funds. If you choose this
method to open your account, you must call our toll-free number before you wire
your investment, and you must then complete and fax the application.
BY TELEPHONE (NATIONWIDE FUNDS NOW) -- Call 1-800-637-0012, our automated
voice-response system, 24 hours a day, seven days a week, for easy access to
mutual fund information. You can choose from a menu of choices to conduct
transactions and hear Fund price information, mailing and wiring instructions
and other mutual fund information. You must complete the appropriate section of
the application to use Nationwide Funds NOW to make purchases.
THROUGH AN AUTHORIZED BROKER -- NAS has relationships with certain brokers and
other financial intermediaries who are authorized to accept, or designate
intermediaries to accept, purchase and redemption orders for the Fund. If you
purchase through such a broker, your order will be priced at the NAV next
determined after your broker or its designated intermediary accepts it. Contact
your broker to determine whether it has an established relationship with NAS.
BY ON-LINE ACCESS -- Log on to our website www.nationwidefunds.com 24 hours a
day, seven days a week for easy access to your mutual fund accounts. Once
13
<PAGE> 15
Buying, Selling and Exchanging Fund Shares
you have reached the website, you will be instructed on how to select a password
and perform transactions. You can choose to receive information on all of our
funds as well as your own personal accounts. You may also perform transactions,
such as purchases, redemptions and exchanges. The Fund may terminate the ability
to buy Fund shares on this website at any time, in which case you may continue
to buy shares by mail, wire or telephone or through an authorized broker as
described in this Prospectus.
ADDITIONAL SHAREHOLDER SERVICES
Shareholders are entitled to a wide variety of services by contacting:
NATIONWIDE FUNDS NOW 1-800-637-0012
Our customized voice-response system, available 24 hours a day, seven days a
week
CUSTOMER SERVICE 1-800-848-0920
Representatives are available to answer questions between 8 a.m. and 5 p.m.
Eastern Time. (Monday through Friday, except Thursday, in which case
representatives are available between 9:30 a.m. and 5 p.m. Eastern Time.)
For additional information on buying shares and shareholder services, call the
customer service number listed above or contact your Nationwide representative.
SELLING SHARES
You can sell -- also known as redeeming -- your shares of the Fund at any time,
subject to certain restrictions described below. The price you will receive when
you sell your shares will be the NAV (less any applicable sales charges) next
determined after NAS receives your properly completed order to sell in its
offices in Columbus, Ohio. Of course, the value of the shares you sell may be
more or less than you paid for the shares depending upon the market value of the
Fund's investments at the time of sale.
Properly completed orders contain all necessary
paperwork to authorize and complete the transaction.
NAS may require all account holder signatures, updated
account registration and bank account information and,
depending on circumstances, a signature guarantee.
Your order to sell shares can be made in writing or by telephone (if you
authorized telephone transactions on your application) or by on-line access.
Generally, we will pay you for shares that you sell within three days after
receiving your order to sell. Payment for shares you recently purchased by check
may be delayed until the check clears, which may take up to 10 calendar days
from the date of your purchase.
RESTRICTIONS ON SALES
You may not be able to sell your shares of the Fund or the Fund may delay paying
you the proceeds from a sale when the New York Stock Exchange is closed (other
than customary weekend and holiday closings) or if trading is restricted or if
an emergency exists.
SIGNATURE GUARANTEE -- CLASS A AND CLASS B SHARES
A signature guarantee is required under the following circumstances:
- if a redemption is over $100,000,
- if your account registration has changed within the last 30 days,
- if the redemption check is made payable to anyone other than the registered
shareholder,
- if the proceeds are sent back to a bank account not previously designated or
changed within the past 30 days, or
- if the proceeds are mailed to an address other than the address of record.
NAS reserves the right to require a signature guarantee in other circumstances,
without notice.
CDSC ON CLASS A AND CLASS B SHARES
You must pay a CDSC if you sell Class B shares within six years of purchase,
unless you are entitled to a waiver. The sales charge applies if your sale
causes the value of Class B shares in your account to fall below the total
amount of all purchases of Class B shares you made during the preceding six
years. The sales charge is applied to your original purchase price, or the
current market value of the shares being sold, whichever is less. The amount of
the sales charge will decrease as illustrated in the following chart:
<TABLE>
<CAPTION>
7 years
Sale within 1 year 2 years 3 years 4 years 5 years 6 years or more
------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Sales charge 5% 4% 3% 3% 2% 1% 0%
</TABLE>
All purchases during the month are grouped together and will be treated as if
made on the last day of the preceding month.
14
<PAGE> 16
We do not impose a CDSC on Class B shares purchased through reinvested dividends
and distributions. If you sell your Class B shares and reinvest the proceeds in
Class B shares within 30 days, NAS will deposit an amount equal to any CDSC you
paid into your account. Also, we will waive the CDSC if you sell shares
following the death or disability of a shareholder, provided the sale occurs
within one year of the shareholder's death or determination of disability and
for mandatory withdrawals from IRA accounts after age 70 1/2 years. For more
information, see the Statement of Additional Information.
Under certain circumstances, employer-sponsored retirement plans investing in
Class A shares without a sales charge (other than those investing in the Fund
through variable insurance products) may be charged a CDSC if shares are
redeemed within three years after purchase. The CDSC will be 1% for the first
year, 0.50% for the second year and 0.25% for the third year.
HOW TO PLACE YOUR SALE ORDER
You can request the sale of your Class A and Class B shares in any of the ways
described below. A signature guarantee may be required under certain
circumstances. Please refer back to "Signature guarantee -- Class A and Class B
shares." Eligible entities wishing to sell Institutional Service Class shares
should contact NAS at 1-800-848-0920 for information regarding such sales.
BY TELEPHONE (NATIONWIDE FUNDS NOW) -- Calling 1-800-637-0012 connects you to
our automated voice-response system, available 24 hours a day, seven days a
week, for easy access to mutual fund information. You can sell shares and have
the check mailed to your address of record, unless you declined this option on
your application. Only the following types of accounts can use Nationwide Funds
NOW to sell shares: Individual, Joint, Transfer on Death, Trust, and Uniform
Gift/Transfer to Minor accounts. You can call 1-800-637-0012 after 7 p.m.
Eastern Time to learn the day's closing share price.
CAPITAL GAINS TAXES
If you sell Fund shares for more than you paid for
them, you may have capital gains, which are subject to
federal (and in some cases, state) income tax. For
more information, see "Distributions and
Taxes -- Selling Fund Shares."
CUSTOMER SERVICE LINE -- Unless you declined the telephone redemption privilege
on your application you can call and request that a check payable to the
shareholder of record be mailed to the address of record. You can sell shares of
your IRA by telephone if we receive the proper forms. The distribution from an
IRA will be subject to a mandatory 10% federal withholding tax, unless you
inform us in writing not to withhold taxes. For additional information or to
request the forms, please call the customer service line at 1-800-848-0920. The
Fund will use procedures to confirm that telephone instructions are genuine. If
the Fund acts on instructions it reasonably believed were genuine, it will not
be liable for any loss, injury, damage or expense that occurs as a result, and
the Fund will be held harmless for any loss, claims, or liability arising from
its compliance with the instructions. NAS may record telephone instructions to
sell shares. The Fund reserves the right to revoke this privilege at any time,
without notice to shareholders, and to request the sale in writing, signed by
all shareholders on the account.
BY BANK WIRE -- NAS can wire the funds directly to your account at a commercial
bank (a voided check must be attached to your applications), unless you declined
telephone privileges on your application. (This authorization will remain in
effect until you give NAS written notice of its termination.) Your funds will be
wired to your bank on the next business day after your order to sell shares has
been processed. We will deduct a $20 fee from the proceeds of your sale for this
service. Your financial institution may also charge you a fee for receiving the
wire. Funds sent outside the U.S. may be subject to a higher fee.
BY AUTOMATED CLEARING HOUSE (ACH) -- Your funds can be sent to your bank via ACH
on the second business day after your order to sell has been received by NAS.
Funds sent through ACH should reach your bank in two business days. There is no
fee for this service. (This authorization will remain in effect until you give
NAS written notice of its termination.)
BY MAIL OR FAX (No minimum) -- Write a letter to Nationwide Advisory Services,
Inc., P.O. Box 1492, Columbus, Ohio 43216-1492 or fax it to 614-249-8705. Please
be sure your letter is signed by all account owners. Be sure to include your
account number and the Fund from which you wish to make a redemption. For a
distribution from an IRA, you must include your date of birth and indicate
whether or not you want NAS to withhold federal income tax from your proceeds.
15
<PAGE> 17
Buying, Selling and Exchanging Fund Shares
Your sale of shares will be processed on the date NAS receives your signed
letter or fax. If your fax is received after 4 p.m. Eastern Time, it will be
processed the next business day. NAS reserves the right to require the original
document if you fax your letter.
THROUGH AN AUTHORIZED BROKER -- NAS has relationships with certain brokers and
other financial intermediaries who are authorized to accept, or designate
intermediaries to accept, purchase and redemption orders for the Fund. If you
have an account with such a broker, your redemption order will be priced at the
NAV next determined after your order has been accepted by your broker or its
designated intermediary. Your broker or financial intermediary may charge a fee
for this service.
BY ON-LINE ACCESS -- Log on to our website www.nationwidefunds.com 24 hours a
day, seven days a week, for easy access to your mutual fund accounts. Once you
have reached the website, you will be instructed on how to select a password and
perform transactions. You can choose to receive information on all of our funds
as well as your own personal accounts. You may also perform transactions, such
as purchases, redemptions and exchanges. The Fund may terminate the ability to
sell Fund shares on this website at any time, in which case you may continue to
sell shares by mail, wire or telephone as described in this Prospectus.
ACCOUNTS WITH LOW BALANCES -- CLASS A AND CLASS B SHARES
We may sell the rest of your shares and close your account if you make a sale
that reduces the value of your account to less than $250. Before the account is
closed, we will give you notice and allow you 90 days to purchase additional
shares to avoid this action. We do this because of the high cost of maintaining
small accounts. This does not apply to Automatic Asset Accumulation accounts.
For additional information concerning your ability to sell your shares, call our
customer service line at 1-800-848-0920 or see your Nationwide representative.
DISTRIBUTION PLAN
In addition to the sales charges which you may pay for Class A and Class B
shares, the Trust has adopted a Distribution Plan under Rule 12b-1 of the
Investment Company Act, which permits Class A and Class B shares of the Fund to
compensate NAS -- as distributor -- for expenses associated with distributing
the Fund's shares and providing shareholder services.
DISTRIBUTION AND SERVICE FEES
Under the Distribution Plan, Class A and Class B shares of the Fund pay NAS
compensation accrued daily and paid monthly. The Fund shall pay amounts not
exceeding an annual amount of:
<TABLE>
<CAPTION>
CLASS AS A % OF DAILY NET ASSETS
----------------------------------------------------------------
<S> <C>
Class A shares 0.25% (distribution or service fee)
................................................................
Class B shares 1.00% (0.25% service fee)
</TABLE>
Because these fees are paid out of the Fund's assets on an ongoing basis, over
time these fees will increase the cost of your investment and may cost you more
than paying other types of sales charges.
EXCHANGING SHARES
You can exchange the shares you own for shares of another fund within Nationwide
Mutual Funds (except the Morley Capital Accumulation Fund) as long as they are
the same class of shares, both accounts have the same owner, and your first
purchase in the new fund meets the fund's minimum investment requirement. For
example, you can exchange Class A shares of one fund for Class A shares of
another, but you cannot exchange Class A shares for Class B shares.
CAPITAL GAINS TAXES
Exchanging shares is considered a sale and purchase of
shares for federal and state income tax purposes.
Therefore, if the shares you exchange are worth more
than you paid for them, you may have to pay federal
and/or state income taxes. For more information, see
"Distributions and Taxes -- Exchanging Fund Shares."
There is no sales charge for exchanges of Class B or Institutional Service Class
shares. However, if your exchange involves certain Class A shares, you may have
to pay the difference between the sales charges if a higher sales charge
applies. If you exchange Prime Shares of the Nationwide Money Market Fund into
another fund, you must pay the applicable sales charge, unless it has already
been paid. If you exchange Class B shares for Prime Shares of the Nationwide
Money Market Fund, the time you hold the shares in the Nationwide Money Market
Fund will not be counted for purposes of calculating any CDSC. If you then sell
your Prime Shares of the Nationwide Money Market Fund, you will
16
<PAGE> 18
pay the sales charge that would have been charged if the shares had not been
sold at the time they were exchanged into the Nationwide Money Market Fund. If
you exchange your Prime Shares of the Nationwide Money Market Fund back into
Class B shares, the time you hold Class B shares prior to the exchange will be
counted for purposes of calculating the CDSC.
HOW TO PLACE YOUR EXCHANGE ORDER
You can request an exchange of shares in writing, by fax, by phone or by on-line
access (see "Buying Shares -- How to place your purchase order" or the back
cover for contact information). If you make your request in writing, please be
sure all account owners sign the letter. Your exchange will be processed on the
date NAS receives your signed letter or fax. If your fax is received after 4
p.m. Eastern Time, it will be processed the next day. If you fax your request,
we reserve the right to ask for the original. You can automatically request an
exchange 24 hours a day, seven days a week, by calling Nationwide Funds NOW, our
automated voice-response system or by logging on to our website. You will have
automatic exchange privileges unless you request not to on your application. The
Trust reserves the right to amend or discontinue these exchange privileges upon
60 days, written notice to shareholders.
EXCESSIVE TRADING
The Trust reserves the right to reject any exchange request it believes will
increase transaction costs, or otherwise adversely affect other shareholders.
Specifically, exchange activity may be limited to 12 exchanges within a one year
period or 1% of the Fund's NAV. The Fund may delay forwarding redemption
proceeds for up to seven days if the investor redeeming shares is engaged in
excessive trading, or if the amount of the redemption request otherwise would be
disruptive to efficient portfolio management, or would adversely affect the
Fund.
17
<PAGE> 19
DISTRIBUTIONS AND TAXES
The following information is provided to help you understand the income and
capital gains you can earn from owning Fund shares, as well as the federal taxes
you may have to pay on this income. For tax advice regarding your personal
situation, please speak with your tax adviser.
DISTRIBUTIONS OF INCOME DIVIDENDS
Every quarter, the Fund distributes any available income dividends to
shareholders. Income dividends are taxable to you as ordinary income for federal
income tax purposes, unless you hold your shares in a qualified tax-deferred
plan or account, or are otherwise not subject to federal income tax. The amount
of income dividends distributed to you will be reported in a Form 1099, which we
will send to you during the tax season each year (unless you hold your shares in
a qualified tax-deferred plan or account or are otherwise not subject to federal
income tax). For corporate shareholders, a portion of each year's distributions
may be eligible for the corporate dividend-received deduction.
DISTRIBUTIONS OF CAPITAL GAINS
If the Fund has net realized capital gains at the end of the calendar year
(meaning the gains from sales of securities exceed any losses from sales), it
will distribute this capital gain to shareholders annually. You must pay federal
income taxes on any capital gains distributed to you, unless you hold your
shares in a qualified tax-deferred plan or account, or are otherwise not subject
to federal income tax. On Form 1099, we will report the amount of net short-term
capital gains and net long-term capital gains distributed to you during the
year. Currently, for individuals, long-term capital gains are taxed at a maximum
rate of 20%; short-term capital gains are taxed as ordinary income, such as
interest or dividends. For the current capital gains tax rates, speak with your
tax adviser.
REINVESTING DISTRIBUTIONS
All income and capital gains distributions will be reinvested in shares of the
Fund. You may request a payment in cash in writing if distributions are in
excess of $5. You are subject to tax on reinvested distributions. If
distribution checks (1) are returned and marked as "undeliverable" or (2) remain
uncashed for six months, your account will be changed automatically so that all
future distributions are reinvested in your account. Checks that remain uncashed
for six months will be canceled and the money reinvested in the Fund as of the
cancellation date. No interest is paid during the time a check is outstanding.
CHANGING YOUR DISTRIBUTION OPTION
If you want to change your option, you must notify us by the record date for a
dividend or distribution in order for it to be effective for that dividend or
distribution.
You may be subject to federal backup withholding at a rate of 31% of each
distribution unless you certify that the taxpayer identification number you gave
us is correct, and that you are not subject to withholding. (We will, however,
withhold taxes if the Internal Revenue Service notifies us that such
certifications are not accurate, or as may otherwise be required under the
Internal Revenue Code.)
STATE AND LOCAL TAXES
Distributions may be subject to state and local taxes, even if not subject to
federal income taxes. State and local tax laws vary; please consult your tax
adviser.
SELLING FUND SHARES
Selling Fund shares for more than you paid for them gives you a capital gain,
which is subject to federal income tax. The amount of the tax depends on how
long you held your shares. For individuals, long-term capital gains are
currently taxed at a maximum rate of 20%, and short-term capital gains are taxed
as ordinary income, such as interest or dividends. Capital gains from your sale
of Fund shares are not reported on Form 1099; you or your tax adviser should
keep track of your purchases, sales, and any resulting gain or loss. If you do
sell Fund shares for a loss, you may be able to use this capital loss to offset
any capital gains you have.
EXCHANGING FUND SHARES
Exchanging your shares of the Fund is considered a sale for income tax purposes.
Therefore, if the shares you exchange are worth more than you paid for them, you
have capital gains, which are subject to the federal income taxes described
above. If you exchange Fund shares for a loss, you may be able to use this
capital loss to offset any capital gains you have.
18
<PAGE> 20
[THIS PAGE INTENTIONALLY LEFT BLANK]
<PAGE> 21
INFORMATION FROM NATIONWIDE
Please read this Prospectus before you invest, and keep it with your records.
The following documents contain additional information about the Fund. To obtain
a document free of charge, contact us at the address or number listed below.
- SAI (incorporated by reference in this Prospectus)
- Annual Report (which contains a discussion of the market conditions and
investment strategies that significantly affect the Fund's performance) (as
available)
- Semi-Annual Report (as available)
FOR ADDITIONAL INFORMATION CONTACT:
Nationwide Advisory Services, Inc.
P.O. Box 1492
Columbus, Ohio 43216-1492
(614) 249-8705 (fax)
FOR INFORMATION, ASSISTANCE AND WIRE ORDERS:
1-800-848-0920 (toll free, 8 a.m. - 5 p.m. Eastern Time (Monday through Friday,
except Thursday, in which case representations are available between 9:30 a.m.
and 5 p.m. Eastern Time)).
FOR 24-HOUR ACCOUNT ACCESS:
1-800-637-0012 (toll free)
Also, visit the Nationwide Fund's website at www.nationwidefunds.com.
INFORMATION FROM THE SECURITIES AND EXCHANGE COMMISSION (SEC)
You can obtain copies of the Fund's documents from the SEC as follows:
IN PERSON:
Public Reference Room in Washington, D.C. (for their hours of operation, call
1-202-942-8090)
BY MAIL:
Securities and Exchange Commission
Public Reference Section
Washington, D.C. 20549-6009
(The SEC charges a fee to copy any documents.)
ON THE EDGAR DATABASE VIA THE INTERNET:
www.sec.gov
BY ELECTRONIC REQUEST:
[email protected]
INVESTMENT COMPANY ACT FILE NO. 811-08495
Nationwide Logo
NATIONWIDE FAMILY OF FUNDS
P.O. BOX 1492
COLUMBUS, OHIO 43216-1492
HS-1295
