Waddell & Reed Asset Strategy AUNASX

Morningstar Rating

Fund Research and Analysis

by Michael Herbst

Don't overlook the risks of Waddell & Reed Asset Strategy.

This fund's strategy and management set it apart from its world-allocation category peers. Dramatic shifts in its asset allocation are par for the course, reflecting management's views Read more

Kudos

Experienced management.

Excellent long-term record covering a variety of market climates.

Management uses only exchange-traded derivatives rather than more exotic fare. Read more

Risks

Portfolio's allocation can shift meaningfully and (at times) swiftly.

Potential volatility related to exposure to emerging markets, precious metals, and currency.

Use of derivatives and short-selling can incur additional risk. Read more

Strategy

This fund uses a top-down, theme-driven approach. It has a flexible mandate and can go from 0% to 100% of assets in several asset classes. It actively manages its allocations to global equities and debt, Read more

Management

Michael Avery is a seasoned manager and equity specialist with more than 30 years of investment experience and serves as the CIO of Waddell & Reed. Ryan Caldwell joined the team in 2007, while fixed-income veteran Dan Vrabac left the fund in early Read more

Inside Scoop

This fund owns stocks, bonds, currencies, and commodities, and it also can (and does) sell asset classes short through the use of exchange-traded derivatives. It uses a Read more

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