The company that Chauncey Waddell and Cameron Reed founded 80 years ago is taking the men’s names off its mutual funds. Nine Waddell & Reed mutual funds will merge this fall into identical funds that carry the Ivy Funds brand while 11 remaining Waddell & Reed funds are expected to merge into their Ivy counterparts early next year. The mergers are part of a larger plan as the company addresses an outflow of investors’ money from accounts and fundamental changes in how the investment management world works. Read the original story from The Kansas City Star.
