Waddell & Reed Financial has launched an expanded Ivy Funds family following the merger of several Ivy Funds into similar W&R funds, a move approved by shareholders.

Under the new structure, five Ivy funds have been merged into W&R funds, two have been merged into the Waddell & Reed Advisors Funds, and seven other Ivy funds remain unchanged.

However, all W&R Funds, even those not involved in the mergers, will operate under the Ivy Funds brand. The family will now have a total of 19 funds with assets of about $1.6 billion. The Ivy Funds were previously managed by Ivy Management, until Waddell acquired the company in December.

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