Waddell & Reed Financial announced Tuesday it had completed the mergers of the Advantus Funds and the Ivy Funds family.

The Advantus Funds had 11 mutual funds with $631 million in assets as of December, four of which were merged into existing Ivy Funds with similar objectives. Meanwhile, the remaining seven funds were re-introduced as new Ivy funds within the family.

The Advantus Enterprise Fund was merged into the Ivy Small Cap Growth Fund, while Advantus Horizon Fund was consumed by the Ivy large Cap Growth Fund. Advantus Index 500 fund moved into the Ivy Core Equity Fund, while the Advantus Money Market Fund was absorbed by the Ivy Money Market Fund.

AdvantusÂ’ Bond Fund, Cornerstone Fund, International Balanced Fund, Mortgage Securities Fund, Real Estate Securities Fund, Spectrum Fund, and Venture Fund were all merged intact into new Ivy funds bearing the same name, just replacing the Advantus title with the Ivy name.

Waddell serves as the investment advisor to the Ivy Funds. In September 2003, the firm also merged nine actively managed equity Advantus Series Fund portfolios with W&R Target Funds.

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