Redemptions continue to plague Waddell & Reed Financial Inc., but strong market action growth in its funds points to continued improvement.
The Overland Park-based mutual fund provider (Nasdaq: WDR) finished the third quarter with $79.54 billion in assets under management, up 1.13 percent from $78.65 billion in the second quarter, which was its lowest total since the third quarter of 2011. The growth in assets was primarily due to market action gains of $2.92 billion in the portfolios it manages.…
Redemptions continue to plague Waddell & Reed Financial Inc., but strong market action growth in its funds points to continued improvement.
The Overland Park-based mutual fund provider (Nasdaq: WDR) finished the third quarter with $79.54 billion in assets under management, up 1.13 percent from $78.65 billion in the second quarter, which was its lowest total since the third quarter of 2011. The growth in assets was primarily due to market action gains of $2.92 billion in the portfolios it manages.…