Overland Park-based Waddell & Reed Financial Inc. saw its sales of mutual fund investments jump 30 percent in the past year, but the company continues to be plagued by high redemption rates that caused it to once again lose assets under management.
Waddell & Reed's first-quarter assets under management dropped $873 million from last year to a total of $80.21 billion, its lowest level since the third quarter of 2010. The loss in assets was driven by customers redeeming $5.25 billion in the first…
Overland Park-based Waddell & Reed Financial Inc. saw its sales of mutual fund investments jump 30 percent in the past year, but the company continues to be plagued by high redemption rates that caused it to once again lose assets under management.
Waddell & Reed's first-quarter assets under management dropped $873 million from last year to a total of $80.21 billion, its lowest level since the third quarter of 2010. The loss in assets was driven by customers redeeming $5.25 billion in the first…