Nationwide is to liquidate the Nationwide Portfolio Completion fund this month.
The $504.4 million asset allocation fund's official liquidation date will be August 18, according a Securities and Exchange Commission filing.
Over the last three years to the end of June the fund has suffered from poor performance, returning 0.5% in comparison to the average mixed asset flexible fund which returned 6.8% over the same period. As a result, it is ranked 120th out of 140 funds in the Citywire Flexible Portfolios category.
Qaiser is a lead portfolio manager on Goldman Sach’s alternative strategies and exchange-traded funds, including smart beta and liquid alternative strategies.
Chopuvka is head of customized beta strategies, alternative investment strategies and tax advantaged core strategies within the Goldman Sachs quantitative equity team.
A Nationwide spokesman confirmed the contents of the filing but did not comment further in time for publication.
Pioneer liquidates emerging market portfolio
On a separate note, Pioneer Investments will liquidate the Pioneer Emerging Markets VCT portfolio on or about November 1, according to a Securities and Exchange Commission filing.
Ratto is a director and the head of emerging markets at Pioneer. Mencini is the head of European equity research at Pioneer where he leads a team of European fundamental equity analysts based in Dublin.
Launched in 1998, the portfolio's performance has trailed the average in its peer group over the past three years to the end of June, returning -2.06% compared to the average emerging markets fund, which has returned 7.33%, according to Lipper data.
Upon liquidation, any funds remaining in the portfolio as of the liquidation date will be reallocated to the Nationwide variable insurance trust – NVIT Government Money Market fund: class II, according to the same filing.
A Pioneer spokeswoman confirmed the contents of the filing but did not comment in time for the publication.