Waddell & Reed Changes Portfolio Manager Lineup
Waddell & Reed Financial has made several management changes at its Waddell & Reed Investment Management and Ivy Investment Management mutual fund units.
Chace Brundige has been named manager of the $73.4 million Waddell & Reed Advisors Tax Managed Equity Fund, taking over the helm from Barry Ogden.
Erik Becker and Gus Zinn have been appointed co-portfolio managers of the $256.3 million Ivy Core Equity Fund, replacing Jim Wineland, who will now focus solely on the Advisors Core Investment Fund and the W&R Target Core Equity Portfolio.
Robert Nightingale has been named an assistant portfolio manager to the international team. He will also continue with his current research analyst responsibilities. In addition, Sarah Ross has been named assistant portfolio manager on the large-cap growth team. She also keeps her current research analyst responsibilities.
Pete Morris has been appointed assistant portfolio manager of the Waddell & Reed Advisors Target Dividend Income Fund and assistant portfolio manager of the Waddell & Reed Advisors Energy Fund. He will also serve as assistant portfolio manager of the Ivy Energy Fund and the W&R Target Energy Fund when they launch later on this year.
John Maxwell will join Thomas Mengel as co-manager of the Ivy International Value Fund, which has $69.6 million in net assets. At the same time, Bryan Krug has been named portfolio manager of the Ivy High Income Fund, which has $69.7 million in net assets.
"These managers have each shown an insight and research ability that has contributed to our solid performance in recent years, and I am pleased that they are taking on new responsibilities," said Mike Avery, chief investment officer.
Bateman Joins IW Fin'l As Director of Research
IW Financial, a research firm that enables investment professionals to analyze portfolio holdings based on governance and social criteria, has appointed Mark Bateman director of research.
Prior to his appointment, Bateman was with Investor Responsibility Research Center, where he was most recently vice president of research and operations.
Nancy M. Smith Becomes AARP Investment Exec
Nancy M. Smith has joined AARP Financial as vice president of investment services, in charge of overseeing compliance and investment advisory services.
"Our goal at AARP Financial is to assist AARP members and Baby Boomers alike to prepare financially for retirement," said Larry Renfro, president of AARP. "Nancy Smith's track record as a Securities and Exchange Commission official and state regulator who has championed plain language and simplicity in investment products makes her a tremendous asset to AARP Financial."
"I am excited about the crucial role AARP Financial serves in the 50-plus marketplace," Smith said. "Our goal at AARP Financial is to make investing an easy, uncomplicated process. There is a tremendous need for an entity like ours that is committed to helping individuals invest for retirement by simplifying investing."
Prior to her hire, Smith was with the SEC as director of the office of investor education and assistance.
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