Waddell & Reed of Overland Park, KS, will offer three new funds of funds that invest in the Waddell & Reed Advisor funds, according to a preliminary prospectus filed late last week with Securities and Exchange Commission.
The offerings will be included in Waddell & Reed's new InvestEd Portfolios and will include the InvestEd Growth Portfolio, InvestEd Balanced Portfolio and the InvestEd Income Portfolio.
The portfolios will offer A-, B-, and C-shares and will charge 5.75% up front sales charge on A-shares, and a 5% contingent deferred sales charge on B-shares. Class C-shares will have a 1% CDSC and both B- and C-shares will charge a 1% 12b-1 fee while A-shares will charge .25%.
Waddell & Reed Investment Management Company managed $27.6 billion in fund assets in its Waddell & Reed Advisors Funds and W&R Funds and $4.6 billion in institutional and privately managed accounts as of March 31.