Founded in 1937, Waddell & Reed sponsors to families of mutual funds: W&R Funds and Ivy Funds. It created the Waddell & Reed Advisors Group of Mutual Funds in 1940. The company IPO'd in 1998.
The funds are advised by Waddell & Reed Investment Management Company (WRIMCO) and Ivy Investment Management Company (IICO).
The firm also owns a broker-dealer that is a primary distributor of the W&R Funds.
The firms three broker-dealers are: Waddell & Reed, Inc. (W&R), Ivy Funds Distributor, Inc. (IFDI) and Legend Equities Corporation (LEC).
The firm's 80 open-end mutual funds include: 20 portfolios in the Advisors Funds family, 32 portfolios in the Ivy Funds family, 25 portfolios in the Ivy Funds VIP family and three portfolios in InvestEd.
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Key People:
Henry J. Herrmann CEO, Waddell & Reed Financial
Michael L. Avery Senior Vice President, Chief Investment Officer, Waddell & Reed Financial
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