Form 497K NATIONAL MUTUAL FUND

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NATIONAL MUTUAL FUND
Mellon Nationally Disciplined Value Fund
Supplement of June 17, 2021
to the Summary Prospectus dated March 1, 2021
Capitalized terms and certain other terms used in this supplement, unless otherwise defined in this supplement, have the meanings ascribed to them in the Summary Prospectus.
At a meeting of the Board of Directors (the âBoardâ) of Nationwide Mutual Funds (the âTrustâ) held on June 16, 2021, the Board approved a new Sub-Advisory Agreement with Newton Investment Management North America, LLC (âNewton USâ) for the Nationwide Mellon Disciplined Value Fund, a series of the Trust (the âFundâ). The Board approved this agreement because BNY Mellon Investment Management, the parent investment management organization of Mellon Investments Corporation (âMellonâ), the Fund’s sub-advisor, intends to restructure the investment advisory business. of Mellon by transferring the portfolio management staff from Mellon to Newton US (the “Transaction”). Upon closing of the Transaction, which is expected to occur on or about August 31, 2021 (the “Effective Date” ), the Trust’s sub-advisory agreement with Mellon, with respect to the Fund, will terminate and the new sub-advisory agreement with Newton US will become effective. It is currently expected that the portfolio managers of the Fund who are responsible for the day-to-day management of the Fund will remain the same as of the Effective Date.It is also expected that there will be no material change to the Fund’s investment objective or strategies, no reduction in the nature of the Fund’s investment objectives. or d u level of services provided to the Fund, and no increase in management fees payable by the Fund as a result of Newton US’s engagement as a sub-advisor.
From the Effective Date, the Summary Prospectus is amended as follows:
1. |
The Fund is renamed âNationwide BNY Mellon Disciplined Value Fundâ. All references to the old name of the Fund in the Summary Prospectus are replaced accordingly. |
2. |
The information under the heading âPortfolio management – Sub-advisorâ on page 6 of the Summary Prospectus is deleted in its entirety and replaced by the following: |
Newton Investment Management North America, LLC
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE