New York — Nationwide Funds Group, the mutual funds complex of Nationwide Financial Services Inc., is suffering along with other fund companies as the stock market sinks, reports American Banker in its Daily Briefing.

But Mike Spangler, the president of Nationwide Funds, said he sees light at the end of the tunnel thanks to new products and distribution initiatives. Spangler, who took the post in June, said he is focused on plans to "grow our manager-of-managers platform and make it a core competence, and to align our business with our other Nationwide Financial businesses."

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