In the Margins
Investors pulled $624 million out of Waddell & Reed Financial's Ivy High Income Fund in December, equivalent to some 10% of assets, according to data from Morningstar. The exodus is the latest setback for the fund and reflects mounting fears among individual investors of the risk of sharp losses in mutual funds that specialize in hard-to-trade securities including junk bonds. Read the original story from The Wall Street Journal.
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