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SUPPLEMENT DATED JULY 2, 1998
TO PROSPECTUS DATED MAY 1, 1998
NATIONWIDE MULTI SECTOR BOND FUND
On page 32 of the Prospectus, under the heading "The Subadviser", the second
full paragraph is hereby deleted in its entirety and replaced with the
following:
Roger Lavan is primarily responsible for mortgage-backed securities and U.S.
government securities portions of the Fund. Mr. Lavan joined the Subadviser in
1990 and is a Portfolio Manager and Quantitative Fixed Income Analyst. He is
responsible for working with senior portfolio managers to monitor and analyze
market relationships and identify and implement relative value transactions in
the Subadviser's investment company and institutional portfolios which invest in
mortgage-backed securities and U.S. Government securities. Prior to joining the
Subadviser, Mr. Lavan spent four years analyzing portfolios for Salomon
Brothers' Fixed Income Sales Group and Product Support Divisions. David J. Scott
is primarily responsible for a portion of the Fund relating to currency
transactions and investments in non-dollar denominated debt securities. Prior to
joining SBAM Limited in April, 1994, Mr. Scott worked for four years at JP
Morgan Investment Management where he was responsible for global and non-dollar
portfolios. Before joining JP Morgan Investment Management, Mr. Scott worked for
three years at Mercury Asset Management where he was responsible for captive
insurance portfolios and products.
PLEASE RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE.
