The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Waddell & Reed's Q3 Profits Stay Flat Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, October 27, 2009

Waddell & Reed's Q3 Profits Stay Flat

Reported by InvestmentWires Staff, 

Waddell & Reed, which sponsors the Ivy Funds and Waddell & Reed Advisor Funds, earned $33.4 million, or 39 cents per share, in the third quarter, practically unchanged from $33.3 million in the year-ago period. The latest quarter's results include a charge of $543,000 to general and administrative costs for severance expenses and $2.2 million in tax benefits in connection with the sale of its Austin, Calvert & Flavin subsidiary.

Not counting the charge and the tax benefits, net income would have been $31.8 million or 37 cents per share.

Overland Park, Kansas-based Waddell & Reed recorded gross sales of $804 million in the advisor channel, up 3 percent compared to the second quarter and down eight percent compared to last year.

In the wholesale channel, gross sales totaled $4.1 billion, virtually the same compared to the second quarter and up 9 percent from the year-ago period. Waddell executives said that while the Asset Strategy and Global Natural Resources funds account for three-quarters of total sales, "meaningful daily flows continue" in five other funds.

In the institutional channel, Waddell saw gross sales of $277 million, down 47 percent from the second quarter and down 51 percent compared to last year.

Waddell ended the third quarter with total AUM of $64.48 billion, up from $55.6 billion at the close of the second quarter and $59.78 billion at the end of the third quarter last year.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use