Waddell & Reed Financial, Inc. Announces Portfolio Manager Changes
April 12 2018 - 4:30PM
Business Wire
Waddell & Reed Financial, Inc. (NYSE: WDR) today
announced changes to responsibilities for certain portfolio
management personnel, including separation of two portfolio
managers.
Bradley M. Klapmeyer will assume the lead portfolio management
responsibilities of the large cap growth product suite, with Daniel
P. Beckeri departing the company. Klapmeyer is currently the
co-manager of these assets and has been an integral member of the
large cap growth product team since 2011. Klapmeyer will continue
to be supported by Assistant Portfolio Manager Gage T. Krieger, who
has been with the firm for six years and a member of the large cap
growth team since 2016.
“I am confident that Brad’s tenure as co-portfolio manager and
his 18-year investment background have equipped him with the
knowledge and experience needed to execute the strategy’s
disciplined investment process and sustain and build upon its
successful long-term track record,” said Philip J. Sanders, Chief
Executive Officer and Chief Investment Officer of Waddell &
Reed Financial, Inc.
Mark G. Beischel, Global Head of Fixed Income and a 20-year
veteran of the company, along with Susan Regan, a portfolio manager
with over 10 years of experience with the company, will on an
interim basis assume the portfolio management responsibilities of
Eric C. Perryii, who also has departed the company.
The company indicated neither portfolio manager departure was
due to investment performance, fraud, misappropriation of company
or client funds, violations of any securities or investment-related
statutes, rules or regulations, or findings of workplace
harassment.
“Our transition in recent years toward team-managed portfolios,
our deep commitment to in-house research capabilities and our long
standing culture of collaboration means we are well positioned to
move forward with continuity. As always, our focus remains on
helping our clients achieve their financial goals, with a firm
commitment to upholding our core values,” Sanders concluded.
About the Company
Through its subsidiaries, Waddell & Reed
Financial, Inc. has provided investment management and
financial planning services to clients throughout the United States
since 1937. Today, we distribute our investment products
through the unaffiliated distribution channel (encompassing
broker/dealer, retirement, and registered investment advisors), our
broker-dealer channel (through independent financial advisors), and
our Institutional channel (including defined benefit plans, pension
plans, endowments and subadvisory relationships). For more
information, visit ir.waddell.com.
Investors should consider the investment objectives, risks,
charges and expenses of a fund carefully before investing. For a
prospectus, or if available, a summary prospectus, containing this
and other information for any of the mutual funds managed by Ivy
Investment Management Company, call your financial advisor or visit
www.waddell.com or www.ivyinvestments.com. Please read the
prospectus or summary prospectus carefully before investing.
Investment return and principal value will fluctuate, and it is
possible to lose money by investing. Past performance is not a
guarantee of future results.
____________________________i With Bradley M. Klapmeyer, Daniel
P. Becker served as a co-portfolio manager for approximately $2.7
billion of separate account assets, as of March 31, 2018, and for
the following mutual funds: Ivy Large Cap Growth Fund; Ivy Focused
Growth NextShares™; and Ivy VIP Growth Portfolio.
ii Eric (“Rick”) C. Perry served as portfolio manager or a
co-portfolio manager for the following mutual funds: Ivy Balanced
Fund; Ivy Bond Fund; Ivy Crossover Credit Fund; Ivy Government
Securities Fund; Ivy VIP Balanced Portfolio and Ivy VIP Bond
Portfolio.
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version on businesswire.com: https://www.businesswire.com/news/home/20180412006268/en/
Waddell & Reed Financial, Inc.Investor Relations
Contact:Nicole Russell, 913-236-1880VP, Investor RelationsorMedia
Contact:Roger Hoadley, 913-236-1993VP, Communications
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