EX-99.28(N) 3 d496104dex9928n.htm RULE 18F-3 PLAN Rule 18f-3 Plan

EX-28.n

NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

WHEREAS, Nationwide Variable Insurance Trust (the “Trust”), a Delaware statutory trust, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”);

WHEREAS, the following have been designated as the series and classes of the Trust:

 

Series

   

Classes

NVIT AQR Large Cap Defensive Style Fund

    Class I, Class II, Class IV, Class Y

NVIT Government Bond Fund

    Class I, Class II, Class IV, Class P, Class Y

NVIT Government Money Market Fund

    Class I, Class II, Class IV, Class V, Class Y

NVIT Multi-Manager Small Company Fund

    Class I, Class II, Class IV

NVIT BlackRock Equity Dividend Fund

    Class I, Class II, Class IV, Class Y

NVIT Federated High Income Bond Fund

    Class I

NVIT Amundi Multi Sector Bond Fund

    Class I

NVIT Multi-Manager Small Cap Value Fund

    Class I, Class II, Class IV

NVIT Mid Cap Index Fund

    Class I, Class II, Class Y

NVIT Multi-Manager Small Cap Growth Fund

    Class I, Class II

NVIT Emerging Markets Fund

    Class I, Class II, Class D, Class Y

NVIT International Equity Fund

    Class I, Class II, Class Y

NVIT S&P 500 Index Fund

    Class I, Class II, Class IV, Class Y

NVIT Investor Destinations Aggressive Fund

    Class II, Class P

NVIT Investor Destinations Moderately Aggressive Fund

    Class II, Class P

NVIT Investor Destinations Capital Appreciation Fund

    Class II, Class P, Class Z

NVIT Investor Destinations Moderate Fund

    Class II, Class P

NVIT Investor Destinations Balanced Fund

    Class II, Class P

NVIT Investor Destinations Conservative Fund

    Class II, Class P

NVIT Investor Destinations Moderately Conservative Fund

    Class II, Class P

NVIT American Funds Growth Fund

    Class II

NVIT American Funds Global Growth Fund

    Class II

NVIT American Funds Asset Allocation Fund

    Class II, Class P

NVIT American Funds Bond Fund

    Class II

NVIT American Funds Growth-Income Fund

    Class II, Class P

NVIT Bond Index Fund

    Class I, Class II, Class Y

NVIT Small Cap Index Fund

    Class II, Class Y

NVIT International Index Fund

    Class I, Class II, Class VIII, Class Y

NVIT Jacobs Levy Large Cap Growth Fund

    Class I, Class II

NVIT Allspring Discovery Fund

    Class I, Class II

NVIT NS Partners International Focused Growth Fund

    Class I, Class II

NVIT Core Bond Fund

    Class I, Class II, Class P, Class Y

NVIT BNY Mellon Core Plus Bond Fund

    Class I, Class II, Class P, Class Y

NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

 

NVIT Calvert Equity Fund

    Class I, Class II, Class Y

NVIT Jacobs Levy Large Cap Core Fund

    Class I, Class II

NVIT Real Estate Fund

    Class I, Class II

NVIT Blueprint Conservative Fund

    Class I, Class II, Class Y

NVIT Blueprint Moderately Conservative Fund

    Class I, Class II, Class Y

NVIT Blueprint Balanced Fund

    Class I, Class II, Class Y

NVIT Blueprint Moderate Fund

    Class I, Class II, Class Y

NVIT Blueprint Capital Appreciation Fund

    Class I, Class II, Class Y

NVIT Blueprint Moderately Aggressive Fund

    Class I, Class II, Class Y

NVIT Blueprint Aggressive Fund

    Class I, Class II, Class Y

NVIT Multi-Manager Mid Cap Value Fund

    Class I, Class II

NVIT Loomis Short-Term Bond Fund

    Class I, Class II, Class P, Class Y

NVIT Columbia Overseas Value Fund

    Class I, Class II, Class X, Class Y, Class Z

NVIT BNY Mellon Dynamic U.S. Core Fund

    Class I, Class II, Class P, Class Y

NVIT BNY Mellon Dynamic U.S. Equity Income Fund

    Class I, Class II, Class X, Class Y, Class Z

NVIT Blueprint Managed Growth Fund

    Class I, Class II

NVIT Blueprint Managed Growth & Income Fund

    Class I, Class II

NVIT Investor Destinations Managed Growth Fund

    Class I, Class II

NVIT Investor Destinations Managed Growth & Income Fund

    Class I, Class II

NVIT Managed American Funds Asset Allocation Fund

    Class II, Class Z

NVIT Managed American Funds Growth-Income Fund

    Class II

NVIT BlackRock Managed Global Allocation Fund

    Class II

NVIT DoubleLine Total Return Tactical Fund

    Class I, Class II, Class Y

NVIT iShares® Fixed Income ETF Fund

    Class II, Class Y

NVIT iShares® Global Equity ETF Fund

    Class II, Class Y

NVIT J.P. Morgan MozaicSM Multi-Asset Fund

    Class II, Class Y

NVIT J.P. Morgan U.S. Equity Fund

    Class II, Class Y

NVIT GS Large Cap Equity Fund

    Class Y

NVIT GS Small Cap Equity Insights Fund

    Class Y

NVIT GS International Equity Insights Fund

    Class Y

NVIT GS Emerging Markets Equity Insights Fund

    Class Y

NVIT U.S. 130/30 Equity Fund

    Class Y

NVIT J.P. Morgan Digital Evolution Strategy Fund

    Class Y

NVIT J.P. Morgan Innovators Fund

    Class Y

NVIT J.P. Morgan Large Cap Growth Fund

    Class Y

NVIT J.P. Morgan US Technology Leaders Fund

    Class Y

 

*

As approved by the Board of Trustees at its meeting held on June 13-14, 2023.

 

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NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

 

WHEREAS, Nationwide Fund Advisors (“NFA”) serves as investment adviser for each of the series except for the NVIT American Funds Growth Fund, the NVIT American Funds Global Growth Fund, the NVIT American Funds Asset Allocation Fund, the NVIT American Funds Bond Fund and the NVIT American Funds Growth-Income Fund (collectively, the “American Funds NVIT Funds”);

WHEREAS, Nationwide Fund Distributors LLC (“NFD”) serves as underwriter and Nationwide Fund Management LLC serves as fund administrator for the series of the Trust;

WHEREAS, the Trust has adopted a Distribution Plan (“12b-1 Plan”) under Rule 12b-1 of the 1940 Act providing for:

 

  (1)

in the case of Class II, Class D, Class P and Class Z shares of the Funds, fees of not more than 0.25% per annum of average net assets; and

 

  (2)

in the case of Class VIII shares of the NVIT International Index Fund, fees of not more than 0.40% per annum of average net assets.

WHEREAS, the Trust has adopted an Administrative Services Plan providing for fees of not more than 0.25% per annum of the average daily net assets of the Class I, Class II, Class D or Class VIII shares of the Funds; 0.20% of the average daily net assets of the Class IV shares of the Funds; 0.10% of the average daily net assets of the Class V shares of the Funds; 0.13% of the average daily net assets of the Class X and Class Z shares of the NVIT BNY Mellon Dynamic U.S. Equity Income Fund; 0.02% of the average daily net assets of the Class X and Class Z shares of the NVIT Columbia Overseas Value Fund; 0.19% of the average daily net assets of the Class Z shares of the NVIT Investor Destinations Capital Appreciation Fund; and 0.12% of the average daily net assets of the Class Z shares of the NVIT Managed American Funds Asset Allocation Fund. The Administrative Services Plan shall not apply to Class Y or Class P shares of the Funds;

WHEREAS, the Class IV shares of the NVIT AQR Large Cap Defensive Style Fund, NVIT BlackRock Equity Dividend Fund, NVIT Multi-Manager Small Company Fund, NVIT Multi-Manager Small Cap Value Fund, NVIT Government Bond Fund, NVIT Government Money Market Fund and the NVIT S&P 500 Index Fund will be offered only through the variable insurance products issued by Nationwide Life Insurance Company of America (formerly Provident Mutual Life Insurance Company), Nationwide Life Insurance & Annuity Company of America (formerly Provident Mutual Life & Annuity Company of America) and National Life Insurance Company of Vermont which were available on or before April 28, 2003.

WHEREAS, Class V shares of the NVIT Government Money Market Fund will be offered through Corporate Owned Life Insurance products issued by Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company.

WHEREAS, Class D shares of the NVIT Emerging Markets Fund will be offered through variable insurance products issued by third party insurance companies that are not affiliated with Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company.

 

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NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

 

WHEREAS, Rule 18f-3 under the 1940 Act permits an open-end management investment company to issue multiple classes of voting stock representing interests in the same portfolio notwithstanding Sections 18(f)(1) and 18(i) under the 1940 Act if, among other things, such investment company adopts a written plan setting forth the separate arrangements and expense allocation of each class and any related conversion features or exchange privileges;

NOW, THEREFORE, the Trust, wishing to be governed by Rule 18f-3 under the 1940 Act, hereby adopts this Rule 18f-3 Plan as follows:

 

  1.

Each class of shares of a series will represent interests in the same portfolio of investments of such series of the Trust, and be identical in all respects to each other class of that series, except as set forth below. The only differences among the various classes of shares of the series of the Trust will relate solely to: (a) different distribution or service fee payments associated with any Rule 12b-1 Plan for a particular class of shares and any other costs relating to implementing or amending such Plan (including obtaining shareholder approval of such Plan or any amendment thereto), which will be borne solely by shareholders of such class; and (b) different administrative service fees associated with any Administrative Services Plan; (c) different Class Expenses, which will be limited to the following expenses as determined by the Trustees to be attributable to a specific class of shares: (i) transfer agency fees identified as being attributable to a specific class; (ii) printing and postage expenses related to preparing and distributing materials such as shareholder reports, prospectuses, and proxy statements to current shareholders of a specific class; (iii) Blue Sky notification and/or filing fees incurred by a class of shares; (iv) SEC registration fees incurred by a class; (v) expenses of administrative personnel and services as required to support the shareholders of a specific class; (vi) litigation or other legal expenses and audit or other accounting expenses relating solely to one class; (vii) Trustee fees or expenses incurred as a result of issues relating to one class; and (viii) shareholder meeting costs that relate to a specific class; (d) the voting rights related to any 12b-1 Plan affecting a specific class of shares or related to any other matter submitted to shareholders in which the interests of a Class differ from the interests of any other Class; (e) conversion features; (f) exchange privileges; and (g) class names or designations. Any additional incremental expenses not specifically identified above that are subsequently identified and determined to be properly applied to one class of shares of a series of the Trust shall be so applied upon approval by a majority of the Trustees of the Trust, including a majority of the Trustees who are not interested persons of the Trust.

 

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NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

 

  2.

Under the Multiple Class Distribution System, certain expenses may be attributable to the Trust, but not to a particular series or class thereof. All such expenses will be allocated among series based upon the relative aggregate net assets of such series. Expenses that are attributable to a particular series, but not to a particular class thereof, and income, realized gains and losses, and unrealized appreciation and depreciation will be allocated to each class based on its net asset value relative to the net asset value of the fund if such series does not pay daily dividends and if the series does pay daily dividends on the basis of the settled shares method (as described in Rule 18f-3(c)(iii). Notwithstanding the foregoing, the principal underwriter, the investment adviser or other provider of services to the Trust may waive or reimburse the expenses of a specific class or classes to the extent permitted under Rule 18f-3 under the 1940 Act and pursuant to any applicable ruling, procedure or regulation of the Internal Revenue Service.

A class of shares may be permitted to bear expenses that are directly attributable to such class including: (a) any distribution/service fees associated with any Rule 12b-1 Plan for a particular class and any other costs relating to implementing or amending such Plan (including obtaining shareholder approval of such plan or any amendment thereto); (b) any administrative services fees associated with any administrative services plan for a particular class and any other costs relating to implementing or amending such plan (including obtaining shareholder approval of such plan or any amendment thereto) attributable to such class; and (c) any Class Expenses determined by the Trustees to be attributable to such class.

 

  3.

To the extent exchanges are permitted, shares of any class of the Trust will be exchangeable with shares of the same class of another series of the Trust, or with money market fund shares of the Trust as described in the applicable prospectus. Exchanges will comply with all applicable provisions of Rule 11a-3 under the 1940 Act.

 

  4.

Dividends and distributions paid by a series of the Trust as to each class of its shares, to the extent any dividends or distributions are paid, will be calculated in the same manner, at the same time, on the same day, and will be in the same amount for each such class, except that any distribution/service fees, administrative services fees, and Class Expenses allocated to a class will be borne exclusively by that class and will be taken into account in determining the amount of dividends and distributions paid with respect to that class.

 

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NATIONWIDE VARIABLE INSURANCE TRUST

RULE 18f-3 PLAN

Effective May 1, 2007

Amended June 14, 2023*

 

  5.

Any distribution arrangement of the Trust, including distribution fees and front-end and deferred sales loads, will comply with Section 2830 of the NASD Conduct Rules of the Financial Industry Regulatory Authority, Inc.

 

  6.

The initial adoption of, and all material amendments, to this 18f-3 Plan must be approved by a majority of the members of the Trust’s Trustees, including a majority of the Board members who are not “interested persons” (as defined in the 1940 Act) of the Trust.

 

  7.

Prior to the initial adoption of, and any material amendments to, this 18f-3 Plan, the Trust’s Trustees shall request and evaluate, and any agreement relating to a class arrangement shall require the parties thereto to furnish, such information as may be reasonably necessary to evaluate the 18f-3 Plan.

 

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