Form 497VPU NATIONWIDE VARIABLE ACCO
Supplement dated January
23, 2025
to the following updating summary prospectus(es):
to the following updating summary prospectus(es):
Nationwide Destination B, Nationwide Destination B (2.0) and Nationwide Destination Navigator (2.0) dated May 1, 2024
| This supplement updates certain information contained in your updating summary prospectus. Please read and
retain this supplement for future reference. |
1. At a meeting of the Board of Trustees (the "Board") of Nationwide
Variable Insurance Trust held on October 23, 2024, the Board approved the termination of Nationwide Asset Management, LLC as subadviser to the NVIT Core Bond Fund (the "Fund") and the appointment of Loomis, Sayles & Company, L.P. as the Fund’s new subadviser. This change is
anticipated to take effect on or about January 27, 2025 (the "Effective Date").
As of the Effective Date the updating summary prospectus is amended as follows:
The names of the investment option(s) and subadviser(s) are updated as indicated
below:
| CURRENT INFORMATION |
UPDATED INFORMATION |
| Nationwide Variable Insurance Trust - NVIT Core Bond Fund:
Class II
Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: Nationwide Asset Management, LLC |
Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class II Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: Loomis, Sayles & Company, L.P. |
All references to the Fund’s former name and subadviser are replaced accordingly.
2. At a meeting of the Board of Trustees (the "Board") of Nationwide Variable Insurance
Trust held on December 11, 2024, the Board approved the termination of Columbia Management Investment Advisor, LLC as the subadviser to the NVIT Columbia Overseas Value Fund (the "Fund") and the appointment of Putnam Investment Management, LLC as the Fund’s
new subadviser. This change is anticipated to take effect on or about January 31, 2025 (the "Effective Date").
As of the Effective Date the updating summary prospectus is amended as follows:
The names of the investment option(s) and subadviser(s) are updated as indicated below:
| CURRENT INFORMATION |
UPDATED INFORMATION |
| Nationwide Variable Insurance Trust – NVIT Columbia
Overseas Value Fund: Class I
Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: Columbia Management Investment
Advisor, LLC |
Nationwide Variable Insurance Trust - NVIT Putnam
International Value Fund: Class I
Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Putnam Investment Management, LLC |
| Nationwide Variable Insurance Trust – NVIT Columbia
Overseas Value Fund: Class Z
Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: Columbia Management Investment
Advisor, LLC |
Nationwide Variable Insurance Trust - NVIT Putnam International Value Fund: Class Z Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: Putnam Investment Management, LLC |
All references to the Fund’s former name and subadviser are replaced accordingly.
3. At a meeting held on October 23, 2024, the Board of Trustees of Nationwide Variable Insurance Trust approved the merger of the NVIT BNY Mellon Core Plus Bond Fund: Class P (the "Target Fund") and the NVIT Core Bond Fund: Class P (the
"Acquiring Fund"). The merger will be effective on or about February 28, 2025 (the "Effective Date").
As of the Effective Date, the following changes apply to the contract:
•
the Target Fund will no longer be available to receive transfers or new purchase
payments;
•
the Target Fund will transfer all or substantially all of its assets to the Acquiring Fund in
exchange for shares of the Acquiring Fund; and
•
the Acquiring Fund will assume all liabilities of the Target Fund.
Accordingly, the
following changes apply to the prospectus:
USP-0111
1
(1) Appendix is amended to add
the following:
| Type |
Underlying Mutual Fund and Adviser/Subadviser |
Current
Expenses |
Average Annual Total
Returns
(as of 12/31/2023) | ||
| 1 year |
5 year |
10 year | |||
| Fixed Income |
NVIT Loomis Core Bond Fund: Class P
This underlying mutual fund is no longer available to receive transfers or
new purchase payments effective February 28, 2025
Investment Advisor: Nationwide Fund Advisors Sub-Advisor: Loomis, Sayles & Company, L.P. |
0.69%* |
1.89% |
0.46% |
1.73% |
*
This underlying mutual fund’s current expenses reflect a temporary fee reduction.
(2) All references in the prospectus to the Target Fund are deleted and
replaced with the Acquiring Fund.
4. At a meeting of the Board of
Trustees (the "Board") of Nationwide Variable Insurance Trust held on December 11, 2024, the Board approved the termination of NS Partners Ltd as the subadviser to the NVIT
Emerging Markets Fund (the "Fund") and the appointment of FIAM LLC as the Fund’s new subadviser. This change is anticipated to take effect on or about March 3, 2025 (the "Effective Date").
As of the Effective Date the updating summary prospectus is amended as follows:
The names of the investment option(s) and subadviser(s) are updated as indicated below:
| CURRENT INFORMATION |
UPDATED INFORMATION |
| Nationwide Variable Insurance Trust - NVIT Emerging
Markets Fund: Class II
Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: NS Partners Ltd |
Nationwide Variable Insurance Trust - NVIT Fidelity Institutional AM(R) Emerging Markets Fund: Class II Investment Advisor: Nationwide Fund Advisors
Investment Sub-Advisor: FIAM LLC |
All references to the Fund’s former name and subadviser are replaced accordingly.
USP-0111
2
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