“Our comprehensive product line, coupled with solid long-term investment performance, provided our advisers and distribution partners with a number of attractive alternatives to satisfy clients’ investment goals,” said Henry J. Herrmann, chairman and chief executive officer of the firm. “Despite poor investor sentiment toward equities, Waddell & Reed continued to gain market share. Inflows during the quarter represent annualized organic growth of 3.9%, compared to an estimated 2.6% for the industry.”
Waddell Profits Rise 21% to $40.5 Million
October 26, 2010, 2:32 p.m. EDT 1 Min Read