In the Margins

Waddell & Reed shares drop 14%

February 3, 2016

By The Wall Street Journal

Shares of Waddell & Reed Financial fell 14% in heavy trading Tuesday after the firm announced weak results and the retirement of a marquee fund manager. Michael L. Avery, president of the firm and portfolio manager of its largest mutual fund, the Ivy Asset Strategy Fund, will retire June 30. Read the original story from The Wall Street Journal

 

 

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