# EDGAR Filing Document

**Accession Number:** 0000353905
**File Stem:** 0001193125-23-010161
**Filing Date:** 2023-1
**Character Count:** 24485
**Document Hash:** f816c11249ff8453e9efecea124916df
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-010161.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0001193125-23-010161

**CONFORMED SUBMISSION TYPE**: 40-17F2

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**EFFECTIVENESS DATE**: 20230118

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000353905
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 40-17F2
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03213
- **FILM NUMBER:** 23534176

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT MONEY MARKET TRUST
- **DATE OF NAME CHANGE:** 19860226
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE VARIABLE INSURANCE TRUST
- **CENTRAL INDEX KEY:** 0000353905
- **STANDARD INDUSTRIAL CLASSIFICATION:** UNKNOWN SIC - 0000 [0000]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 40-17F2

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 5-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE VARIABLE INSURANCE TRUST
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE SEPARATE ACCOUNT MONEY MARKET TRUST
- **DATE OF NAME CHANGE:** 19860226

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D. C. 20549** 

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**FORM N-17f-2** 

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**Certificate of Accounting of Securities and Similar** 

**Investments in the Custody of** 

**Management Investment Companies** 

**Pursuant to Rule 17f-2 [17 CFR § 270.17f-2]** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;1. | Investment Company Act File Number: | Investment Company Act File Number: | Investment Company Act File Number: | Investment Company Act File Number: | Date examination completed: | Date examination completed: |
|  | **811-03213** |  |  |  | **May 31, 2022** | **May 31, 2022** |
| &nbsp;&nbsp;&nbsp;2. | State identification Number: | State identification Number: | State identification Number: |  |  |  |
|  | AL | AK | AZ | AR | CA | CO |
|  | CT | DE | DC | FL | GA | HI |
|  | ID | IL | IN | IA | KS | KY |
|  | LA | ME | MD | MA | MI | MN |
|  | MS | MO | MT | NE | NV | NH |
|  | NJ | NM | NY | NC | ND | OH |
|  | OK | OR | PA | RI | SC | SD |
|  | TN | TX | UT | VT | VA | WA |
|  | WV | WI | WY | PUERTO RICO | PUERTO RICO | PUERTO RICO |
|  | Other (specify):<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.  | Exact name of investment company as specified in registration statement: | Exact name of investment company as specified in registration statement: | Exact name of investment company as specified in registration statement: | Exact name of investment company as specified in registration statement: |  |  |
|  | **Nationwide Variable Insurance Trust** | **Nationwide Variable Insurance Trust** | **Nationwide Variable Insurance Trust** | **Nationwide Variable Insurance Trust** | **Nationwide Variable Insurance Trust** |  |
| &nbsp;&nbsp;&nbsp; 4.  | Address of principal executive office (number, street, city, state, zip code): | Address of principal executive office (number, street, city, state, zip code): | Address of principal executive office (number, street, city, state, zip code): | Address of principal executive office (number, street, city, state, zip code): | Address of principal executive office (number, street, city, state, zip code): |  |
|  | **One Nationwide Plaza: Mail Code: 05-02-210R, Columbus, OH 43215** | **One Nationwide Plaza: Mail Code: 05-02-210R, Columbus, OH 43215** | **One Nationwide Plaza: Mail Code: 05-02-210R, Columbus, OH 43215** | **One Nationwide Plaza: Mail Code: 05-02-210R, Columbus, OH 43215** | **One Nationwide Plaza: Mail Code: 05-02-210R, Columbus, OH 43215** |  |

---

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![LOGO](g433040dsp2.jpg)

**Report of Independent Accountants** 

To the Board of Trustees of NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund (four of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds") complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 ("the Act") as of May 31, 2022. The Funds' management is responsible for its assertion and the Funds' compliance with those requirements. Our responsibility is to express an opinion on management's assertion about the Funds' compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects, and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of May 31, 2022, and with respect to agreement of security purchases and sales, for the period from April 27, 2022 commencement of operations) through May 31, 2022:

• Confirmation of all securities of the Funds managed by J.P. Morgan Investment Management, Inc. ("J.P.
Morgan") held by the Depository Trust Company and Euroclear ("depositories") in book entry form at an omnibus level and review of the reconciliation performed by J.P. Morgan Chase Bank, N.A. (the "Custodian") for a sample of
securities at an omnibus level between the depositories and the books and records of the Custodian;

• Confirmation of all securities hypothecated, pledged, placed in escrow, or out for transfer with brokers,
pledgees and/or transfer agents

• Reconciliation of all such securities to the books and records of the Funds and the Custodian

• Inspection of subsequent cash statements evidencing settlement of all open trades of the Funds managed by J.P.
Morgan

• Agreement of 5 security purchases and 5 security sales for NVIT J.P. Morgan Digital Evolution Strategy Fund, 10
security purchases and 2 security sales for NVIT J.P. Morgan Innovators Fund, 16 security purchases and 3 security sales for NVIT J.P. Morgan Large Cap Growth Fund, and 10 security purchases and 3 security sales for NVIT J.P. Morgan U.S. Technology
Fund, for the period April 27, 2022 (commencement of operations) through May 31, 2022 from the books and records of the Funds to the related trade tickets

We believe that our examination provides, and that the evidence we obtained is sufficient and appropriate to provide, a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds' compliance with the specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.

In our opinion, management's assertion that NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022 with respect to securities reflected in the investment account of the Company is fairly stated, in all material respects.

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This report is intended solely for the information and use of management and the Board of Directors of NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than the specified parties.

<u>/s/ PricewaterhouseCoopers LLP</u> 

Philadelphia, Pennsylvania

January 17, 2023

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![LOGO](g433040dsp2.jpg)

**Report of Independent Accountants** 

To the Board of Trustees of NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and the NVIT J.P. Morgan U.S. Equity Fund (two of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds") complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 ("the Act") as of May 31, 2022. The Funds' management is responsible for its assertion and the Funds' compliance with those requirements. Our responsibility is to express an opinion on management's assertion about the Funds' compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects, and, accordingly, included examining, on a test basis, evidence about the Funds' compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our procedures were the following tests performed as of May 31, 2022, and with respect to agreement of security purchases and sales, for the period from June 30, 2021 (the date of our last examination), through May 31, 2022:

• Confirmation of all securities of the Funds managed by J.P. Morgan Investment Management, Inc. ("J.P.
Morgan") held by the Depository Trust Company and Euroclear ("depositories") in book entry form at an omnibus level and review of the reconciliation performed by J.P. Morgan Chase Bank, N.A. (the "Custodian") for a sample of
securities at an omnibus level between the depositories and the books and records of the Custodian;

• Confirmation of all securities hypothecated, pledged, placed in escrow, or out for transfer with brokers,
pledgees and/or transfer agents

• Reconciliation of all such securities to the books and records of the Funds and the Custodian

• Inspection of subsequent cash statements evidencing settlement of all open trades of the Funds managed by J.P.
Morgan

• Agreement of 2 security purchases and 2 security maturities for NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and 16 security purchases and 16 security sales or maturities for NVIT J.P. Morgan U.S. Equity Fund since our last report from the books and records of the Funds to the related
trade tickets

We believe that our examination provides, and that the evidence we obtained is sufficient and appropriate to provide, a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds' compliance with the specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.

In our opinion, management's assertion that NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022 with respect to securities reflected in the investment account of the Company is fairly stated, in all material respects.

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This report is intended solely for the information and use of management and the Board of Directors of NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than the specified parties.

<u>/s/ PricewaterhouseCoopers LLP</u> 

Philadelphia, Pennsylvania

January 17, 2023

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![LOGO](g433040dsp6.jpg)

January 17, 2023

PricewaterhouseCoopers LLP

Two Commerce Square, Suite 1800

2001 Market Street

Philadelphia, PA 19103

We are providing this letter in connection with your examination related to management of NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund, NVIT J.P. Morgan U.S. Technology Leaders Fund, NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund, and NVIT J.P. Morgan U.S. Equity Fund (six of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds") assertions included as Attachment (I) that the Funds' are in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 as of May 31, 2022, and for NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund, the period from June 30, 2021 (the date of your last examination) through May 31, 2022, and for the NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund, the period from April 27, 2022 (commencement of operations) through May 31, 2022, as of June 30, 2022, and for the period from May 31, 2022 through June 30, 2022, and as of July 31, 2022, and for the period from June 30, 2022 through July 31, 2022, respectively.

We confirm, to the best of our knowledge and belief, as of January 17, 2023, the date of your report, the following representations made to you during your engagement.

1. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and
(c) of Rule 17f-2 under the Investment Company Act of 1940 as of May 31, 2022, and for NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan
U.S. Equity Fund, the period from June 30, 2021 (the date of your last examination) through May 31, 2022, and for the NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth
Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund, the period from April 27, 2022 (commencement of operations) through May 31, 2022, as of June 30, 2022, and for the period from May 31, 2022 through June 30, 2022, and
as of July 31, 2022, and for the period from June 30, 2022 through July 31, 2022.

2. We are responsible for complying with the specified requirements and management's assertion related
thereto.

3. We are responsible for establishing and maintaining effective internal control over compliance with the
specified requirements.

4. We are responsible for the criteria to be used in the evaluation of the Funds' compliance with the
specified requirements and management's assertion related thereto and for determining that the criteria are suitable, appropriate for the purpose of the engagement, and will be available to the intended users of the report.

5. All relevant matters are reflected in the evaluation of the Funds' compliance with the specified
requirements and management's assertion related thereto.

6. We have made available to you:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. all information necessary for purposes of the engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. unrestricted access to personnel of the Funds from whom you have requested information.

7. There are no deficiencies in internal control relevant to the engagement of which we are aware.

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8. We are not aware of any instances of known noncompliance during the period for which management's
assertion was made.

9. There are no compliance requirements needing clarification that required our interpretation.

10. There are no communications from regulatory agencies, internal auditors, and any other parties concerning
possible noncompliance with the specified requirements, including communications received between May 31, 2022, June 30, 2022, and July 31, 2022 and the date of your reports.

11. We are not aware of any instances of known noncompliance occurring subsequent to the period for which the
management's assertion was made.

12. We have no knowledge of any actual, suspected or alleged fraud or noncompliance with laws or regulations
affecting the Funds' compliance with the specified requirements, management's assertion related thereto, or related parties.

To the best of our knowledge and belief, no events have occurred subsequent to May 31, 2022, June 30, 2022, and July 31, 2022 and through the date of this letter that affect compliance including, but not limited to, known instances of noncompliance and communications received concerning possible noncompliance.

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| |
|:---|
| /s/ Lee Cummings |
| Lee Cummings, Principal Executive Officer |
| /s/ Dave Majewski |
| Dave Majewski, Treasurer and Principal Financial Officer |

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**Attachment I** 

**Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940 – May 31, 2022 (new funds)** 

We, as members of management of NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund (four of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds"), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of May 31, 2022, and from April 27, 2022 (commencement of operations) through May 31, 2022.

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022, and from June 30, 2021 through May 31, 2022, with respect to securities reflected in the investment account of the Funds.

**Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940 – May 31, 2022 (existing funds)** 

We, as members of management of NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund (two of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds"), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of May 31, 2022, and from June 30, 2021 through May 31, 2022.

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022, and from June 30, 2021 through May 31, 2022, with respect to securities reflected in the investment account of the Funds.

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![LOGO](g433040dsp6.jpg)

**Management Statement Regarding Compliance with Certain Provisions of the** 

**Investment Company Act of 1940** 

We, as members of management of NVIT J.P. Morgan Digital Evolution Strategy Fund, NVIT J.P. Morgan Innovators Fund, NVIT J.P. Morgan Large Cap Growth Fund and NVIT J.P. Morgan U.S. Technology Leaders Fund (four of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds"), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of May 31, 2022, and from April 27, 2022 (commencement of operations) through May 31, 2022.

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022, and from April 27, 2022 (commencement of operations) through May 31, 2022, with respect to securities reflected in the investment account of the Funds.

NVIT J.P. Morgan Digital Evolution Strategy Fund

NVIT J.P. Morgan Innovators Fund

NVIT J.P. Morgan Large Cap Growth Fund

NVIT J.P. Morgan U.S. Technology Leaders Fund

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| |
|:---|
| /s/ Lee Cummings |
| Lee Cummings, Principal Executive Officer |
| /s/ Dave Majewski |
| Dave Majewski, Treasurer and Principal Financial Officer |

---

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![LOGO](g433040dsp6.jpg)

**Management Statement Regarding Compliance with Certain Provisions of the** 

**Investment Company Act of 1940** 

We, as members of management of NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund and NVIT J.P. Morgan U.S. Equity Fund (two of the series of Nationwide Variable Insurance Trust, referred to herein as the "Funds"), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of May 31, 2022, and from June 30, 2021 through May 31, 2022.

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of May 31, 2022, and from June 30, 2021 through May 31, 2022, with respect to securities reflected in the investment account of the Funds.

NVIT J.P. Morgan Mozaic<sup>SM</sup> Multi-Asset Fund

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

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| |
|:---|
| /s/ Lee Cummings |
| Lee Cummings, Principal Executive Officer |
| /s/ Dave Majewski |
| Dave Majewski, Treasurer and Principal Financial Officer |

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