Waddell & Reed New Concepts AUNECX

Morningstar Rating

Fund Research and Analysis

by Kathryn Young

Waddell & Reed New Concepts has a lot going for it--except the price.

Manager Kim Scott employs a long-term, growth-at-a-reasonable-price style at this mid-growth offering. She relies heavily on cash-flow metrics to find quality firms with sustainable Read more

Kudos

Low turnover makes the fund tax-efficient and minimizes transaction costs.

Low volatility. Read more

Risks

Above-median fees.

Manager owns no shares of the fund. Read more

Strategy

Manager Kimberly Scott seeks growth stocks but maintains a stricter standard for valuation than most in the mid-growth category. She has added more financially stable companies and sold off many smaller-cap Read more

Management

Kimberly Scott moved up from the analyst ranks to take over management of the fund in February 2001. Scott was an analyst at Bartlett & Company for five years before moving to Waddell & Reed in April 1999. Waddell & Reed's pool of about Read more

Inside Scoop

Manager Kimberly Scott focuses on companies with 20% revenue and earnings-growth rates. Besides looking at a firm's profitability and capital structure, she looks for shareholder-friendly Read more

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