Waddell & Reed Financial, Inc. Announces Assets Under Management
January 14 2015 - 04:05PM
Business Wire
Waddell & Reed Financial, Inc. (NYSE: WDR) today reported
preliminary assets under management of $123.7 billion as of
December 31, 2014, a decrease of $5.2 billion, or 4%, from
September 30, 2014.
The decrease in the fourth quarter of 2014 was primarily due to
net outflows in the Wholesale channel partially offset by market
appreciation. The fourth quarter included $8.8 billion in capital
gain distributions by our funds, approximately $1.0 billion of
which were not reinvested by clients in our funds. Total sales of
$4.0 billion in the table below reflect a reduction of
approximately $1.0 billion for capital gain distributions not
reinvested in our funds. It is our practice to net capital gain
distributions not reinvested against sales in the flow data we
report.
The purpose of this release is to clarify flow data during the
fourth quarter in light of reported industry data. We expect to
announce fourth quarter financial and operational results before
trading begins on the New York Stock Exchange on Tuesday, February
3, 2015.
Changes in Assets Under
Management
Quarter-Ended December 31, 2014
(Amounts in millions)
Wholesale
Advisors Institutional
Total
Preliminary
Beginning assets $66,375 $44,908 $17,603 $128,886 Sales* 2,383
1,332 317 4,032 Redemptions (8,592 ) (1,224 ) (663 ) (10,479 ) Net
Exchanges 74 (74 ) 0
0
Net flows
(6,135 ) 34 (346 ) (6,447 ) Market action 95
575 541 1,211
Ending assets $60,335 $45,517
$17,798 $123,650
* Sales is primarily gross sales (net of
sales commissions). This amount also includesnet reinvested
dividends & capital gains and investment income.
Cautionary Statement
We have not yet finalized assets under management as of December
31, 2014. The preliminary information included in this news release
reflects management's estimate based on currently available
information. Estimates are subject to change. Accordingly, you
should not place undue reliance upon this preliminary
information.
About the Company
Waddell & Reed, Inc., founded in 1937, is one of the oldest
mutual fund complexes in the United States, having introduced the
Waddell & Reed Advisors Group of Mutual Funds in 1940. Today,
we distribute our investment products through the Waddell &
Reed Wholesale channel (encompassing broker/dealer, retirement, and
registered investment advisors), our Advisors channel (our network
of financial advisors), and our Institutional channel (including
defined benefit plans, pension plans and endowments, and our
subadvisory partnership with Mackenzie in Canada).
Through its subsidiaries, Waddell & Reed Financial, Inc.
provides investment management and financial planning services to
clients throughout the United States. Waddell & Reed Investment
Management Company serves as investment advisor to the Waddell
& Reed Advisors Group of Mutual Funds, Ivy Funds Variable
Insurance Portfolios and Waddell & Reed InvestEd Portfolios,
while Ivy Investment Management Company serves as investment
advisor to Ivy Funds. Waddell & Reed, Inc. serves as principal
underwriter and distributor to the Waddell & Reed Advisors
Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios and
Waddell & Reed InvestEd Portfolios, while Ivy Funds
Distributor, Inc. serves as principal underwriter and distributor
to Ivy Funds.
Waddell & Reed Financial, Inc.Investor Contact:Nicole Russell, 913-236-1880VP,
Investor Relationsnrussell@waddell.comorMutual
Fund Investor
Contact:888-WADDELLwww.waddell.comwww.ivyfunds.com.Past
performance is no guarantee of future results. Please invest
carefully.
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