Ohio National Fund, Inc.
Supplement dated October 14, 2022
to the Summary Prospectus dated April 29, 2022
The following supplements and amends the summary prospectus dated April 29, 2022:
Effective October 14, Ohio National Investments, Inc., has reduced the management fee that it charges for services provided in connection with the operation of the ON iShares Managed Risk Moderate Growth Portfolio (the “Portfolio”).
As a result of this management fee reduction, the prospectus is amended as follows:
Fees and Expenses of the Portfolio
The Annual Fund Operating Expenses table is deleted in its entirety and replaced with the following table:
Shareholder Fees (fees paid directly from your investment): N/A
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
| Management Fees | 0.55 | % |
| Distribution and/or Service (12b-1) Fees | None | |
| Other expenses* | 0.04 | % |
| Acquired Fund Fees and Expenses** | 0.09 | % |
| Total Annual Fund Operating Expenses*** | 0.68 | % |
| * | Estimated for the current fiscal year. |
| ** | Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies, and are estimated for the current fiscal year. |
| *** | The expense information in the table has been restated to reflect current fees as if they had been in effect during the previous fiscal year to reflect a reduction in the Management Fees effective October 14, 2022. |
Principal Investment Strategies
The last sentence of the first paragraph under the heading Principal Investment Strategies is deleted and replaced with the following:
The underlying funds in which the Portfolio invests are money market funds, BlackRock ETFs and iShares ETFs, which are advised by BlackRock.
* * *
Please retain this supplement with your Prospectus for future reference.
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