Waddell & Reed advisors awarded

Waddell & Reed Advisors Funds and Ivy Funds were awarded two out of the eight overall mutual fund awards presented for 2008 by Lipper Inc., a national fund research firm.

The Waddell & Reed Advisors Funds was named best Overall Fund Family in the small firm category (those with $28 billion or less in total assets) and Ivy Funds was the top family in the Mixed Asset category for small firms. Lipper, as it does annually, presented awards based on “the fund groups’ reliably solid, risk-adjusted performance.”

“We greatly appreciate this significant honor, which is further testament that we are providing high-quality investment products to each and every client,” said Russell F. Powell, who manages the Waddell & Reed office in Hartsville, one of several within the region.

The awards were presented at the annual Lipper Fund Awards ceremony in New York. Other categories awarded include Overall-Large, Equity Group-Large, Equity Group-Small, Fixed Income Group-Small and Mixed Asset-Large.

“This recognition, along with being named the top fund family by Barron’s earlier this year, is among the highest honors a firm can receive, given that it is presented by a respected research organization,” said Henry J. Herrmann, CEO of Waddell & Reed Financial Inc. “It is further illustration of the quality of our investment management team, the breadth of our product line, and the consistency of our process. We are especially pleased for our clients, as we never forget it is their money we manage, and they have benefited from our consistent focus on fundamentals over fads.”

According to Lipper, the winners are selected using the Lipper Leader rating for consistent returns for funds with at least 36 months of performance history as of the end of the evaluation year.

“The Lipper Fund Awards are about rewarding fund companies that have consistently delivered class-leading performance relative to their peers,” said Eric Almquist, chief operating officer of Lipper. “Winning an award brings deserved industry recognition, underscoring the success of a firm’s investment management capabilities.”

Both the Waddell & Reed Advisors and Ivy Fund families offer a broad lineup covering all major asset categories, including international and domestic equity funds, specialty funds, fixed income funds and money market funds.

The Ivy Funds were named the second fastest growing fund family in 2007, among families with at least $5 billion in total assets under management, according to Financial Research Corp. (FRC). Waddell & Reed Advisors Funds were the top ranked fund family, and Ivy Funds ranked number eight, on the list of “Best Mutual Fund Families of 2007,” as ranked and published by Barron’s newspaper, out of 67 fund families ranked according to asset-weighted returns in five categories. For that ranking, based on the Lipper/Barron’s Fund Survey, a fund group must have at least three funds in Lipper’s general U.S. stock category, as well as one in world equity, which combines global and international funds.

They also required at least one mixed-equity fund, which hold both stocks and bonds. Fund shops must also then have at least two taxable bond funds and one tax-exempt offering.

Through its subsidiaries, Waddell & Reed Financial Inc. provides investment management and financial planning services to clients throughout the U.s. Waddell & Reed Investment Management Co. serves as investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, W&R Target Funds Inc. and Waddell & Reed InvestEd Portfolios Inc., while Ivy Investment Management Co. serves as investment advisor to Ivy Funds Inc. and the Ivy Funds portfolios. Waddell & Reed Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, W&R Target Funds Inc. and Waddell & Reed InvestEd Portfolios Inc., while Ivy Funds Distributor Inc. serves as principal underwriter and distributor to Ivy Funds Inc. and the Ivy Funds portfolios.

Founded in 1937, Waddell & Reed today has grown today to more than 500 registered offices nationwide.