Nationwide Mutual Funds hired Janus Henderson Investors as subadviser of the $213 million Nationwide AllianzGI International Growth Fund.
As a result, the name of the equity fund will change to the Nationwide Janus Henderson Overseas Fund, effective July 18, spokesman Jeff T. Whetzel said in an email.
Janus Henderson replaces Allianz Global Investors as the subadviser due to the recent announcement of Voya Financial's acquisition of most of AllianzGI's U.S. investment management team and business, Mr. Whetzel said.
The news of Voya's acquisition came immediately after the Securities and Exchange Commission announced it had charged AllianzGI with a "massive fraudulent scheme" that barred the manager from providing investment advisory services in the U.S. for 10 years.
